Funding in Indian startups this week (August 16-August 21)
This week, 42 Indian startups raised funds, of which 34 received a total of $ 1,031 million or $ 1.03 billion. PhonePe raised the highest funding of around $ 350 million, followed by Postman who raised $ 225 million.
Meanwhile, funding for eight of the total funded startups has not been disclosed.
Below is the summary of the transactions concluded this week
PhonePe: Digital payments major PhonePe has raised $ 350 million from Walmart, Tiger Global and Tencent.
Factor: Bengaluru and San Francisco-based API development firm Postman raised $ 225 million in its Series D funding round led by existing investor Insight Partners and joined by Coatue, Battery Ventures, BOND , CRV and Nexus Venture Partners.
Zetwerk: Zetwerk, a business-to-business marketplace for custom manufacturing, has raised $ 120 million in a new round led by D1 Capital Partners. This is the second fundraiser for the company in 2021, including a $ 120 million Series D in February.
Fast: The Rapido bike-taxi platform raised $ 52 million from Shell Ventures; Yamaha, the founder of CRED, Kunal Shah, with the participation of existing investors.
UpScalio: UpScalio, an e-commerce roll-up company, said it has raised $ 42.5 million in Series A funding, highlighting the new investor rush towards the Thrasio-style business model in India.
Small business: Wealth management firm Smallcase has raised $ 40 million in its Series C funding round led by Faering Capital with the participation of new investors, Amazon and Premji Invest.
Zupee: Skill-based gaming platform Zupee has raised $ 30 million in its Series B round led by Silicon Valley-based WestCap Group and Tomales Bay Capital. Existing funders Orios Venture Partners and Matrix Partners India also participated.
Bharat Pe: Fintech BharatPe has raised $ 27 million in a funding round from Northern Arc Capital.
AgNext: Agritech startup AgNext has raised just over $ 21 million in a new round led by Falcon Edge’s Alpha Wave Incubation. The Chandigarh-based startup had completed its pre-series A cycle in January 2019.
Ultrahuman: Ultrahuman, the portable healthcare technology blood glucose meter, has raised $ 17.5 million in Series B funding. This brings the total funds raised so far to $ 25 million.
Club: Income-based funding platform Klub raised $ 20 million in one of the biggest rounds raised by an Indian startup. The funding round saw the participation of existing investors 9Unicorns, Sequoia’s Surge as well as Alter Global and GMO VenturePartners.
Oyo: The hotel company Oyo has raised $ 5 million as part of a strategic deal with Microsoft.
Element5: Element5, based in California and Chennai, raised $ 15 million under the leadership of Insight Partners, with participation from Maxwell Investment Partners.
Smart Express: Logistics startup Smart Express has raised Rs 100 crore, or $ 13.4 million, from IIFR India Private Equity Fund and Smiti Holding.
1K Kirana Bazaar: Hyperlocal omnichannel grocery chain 1K Kirana Bazaar has raised $ 7 million in its Series A cycle led by Info Edge Ventures and Falcon Edge partners.
Hashnode: The Hashnode blogging community has raised $ 6.7 million in its Series A round led by Salesforce Ventures. Sierra Ventures, partner Surge and Accel of Sequoia Capital India and a handful of angels such as Naval Ravikant, Des Traynor, Guillermo Rauch and others also participated in the round.
Yellow class: The startup Edtech Yellow Class has raised $ 6 million from Elevation Capital, India Quotient, Titan Capital and First Check.
Rabies Coffee: Rage Coffee, an FMCG-branded startup, raised $ 5 million led by Sixth Sense Ventures.
Sleeping cat: D2C mattress brand SleepyCat has raised $ 3.8 million in a new round led by Saama Capital. Existing lenders DSG Consumer Partners and Sharrp Ventures have also joined the new cycle.
Yojak: A B2B wholesale building materials platform, Yojak raised $ 3.8 million in its pre-Series A round led by Info Edge Ventures.
RaRa delivery: Instant delivery startup RaRa Delivery raised $ 3.25 million in a round led by Sequoia Capital India’s Surge and East Ventures in Indonesia. 500 startups, Angel Central, GK Plug and Play and angels such as Royston Tay and Yang Bin Kwok also joined the round.
Hiring: Tech startup RH Hiration has raised Rs 21 crore or $ 2.8 million from Prime Venture Partners, Venture Highway and Y Combinator.
Expertons: Expertons, a career tech startup, raised $ 2.3 million from Venture Catalysts, Auxano Capital, Venture Garage, Yoga Capital and others.
Big spoon: BigSpoon, the Ahmedabad-based cloud kitchen startup, raised Rs 15 crore or $ 2 million in pre-series A round from NB VC (Dubai), CreedCap Asia, Zed Capital and investors providential, including Sanjiv Bajaj, Bhanu Chopra and Jatin Aneja.
goEgoNetwork: The start-up EV goEgoNetwork has raised $ 2 million from the president of the Bagla group, Rishi Bagla, and head of global innovation labs and fintech at ING Bank.
CreatorStack: CreatorStack, a marketplace network for digital creators, raised $ 2 million in its funding round led by Accel. The Runway Fund from On-Deck, PointOne Capital, Wekan and Kumar Akash, SVP Growth, Hotstar and others also participated.
RACEenergy: Electric vehicle infrastructure start-up RACEnergy has raised $ 1.3 million in its seed cycle + led by Micelio Fund and growX ventures. Huddle, Prophetic Ventures, BITSian Angels and others also participated in the tour.
Navia Life Care: Healthtech start-up Navia Life Care has raised $ 1 million from Anicut Angel Fund, 9Unicorns and other angel investors.
Probus Smart Objects: A smart grid-focused IoT communications and data analytics company, Probus Smart Things has raised $ 0.5 million in its funding round led by Unicorn India Ventures.
Xpresslane: Tech startup Xpresslane has raised $ 0.4 million from Point One Capital, Yatra Angel Network (YAN), Opus Consulting and Manipal Technologies.
YPay: Noida-based fintech startup YPay has raised $ 0.4 million in its funding round led by early stage investment firm We Founder Circle. Renowned investors including Amit Tyagi, Gaurav Juneja, Ravi Gupta and Pragatii Bhargava also attended.
Gyde: Tech startup Gyde raised $ 0.25 million from Better Capital and Ashish Achrekar, CEO of Rica Analytics Inc.
DrinkPrime: Water purification startup DrinkPrime has raised $ 1.7 million in a debt financing round by UC Inclusive Credit and Western Capital.
Kuber loan: Digital mortgage platform LoanKuber has raised $ 1.25 million in its ongoing pre-Series A round from LetsVenture, AngelList India and Accolade.
Offers not disclosed this week
Snack Amor, Blowing horn, Kalam Laboratories, Parafit, Snack Amor, CricHeroes, Zini.ai and Battery Pool did not disclose their financial details.
* Every week, we follow the startups that have raised new investments. Stay tuned for next week’s recap.