From Even Healthcare To Healthify – Indian Startups Raised $145 Mn This Week
Indian startups cumulatively raised $145.5 Mn across 10 deals, a 70% decrease from the $478 Mn raised across 29 deals last week
Healthtech was the investor favourite sector this week
Seed funding went down sharply to $126K from last week’s $26.5 Mn
After a rise in funding activity across the Indian startup ecosystem, investor interest again went down again in the past week. Between October 21 and 26, startups cumulatively raised $145.5 Mn across 10 deals, a 70% decline from $478 Mn raised in the preceding week.
Moreover, the deal count also went down sharply this week by about 65% from last week’s 29 deals.
It is pertinent to note that investor interest in the startup ecosystem has been volatile since the past month or so. The volatility comes as a result of the dearth in the mega funding deals. The month of October has seen only one mega funding round materialise with Eruditus securing $150 Mn last week.
Funding Galore: Indian Startup Funding Of The Week ( Oct 21 – Oct 26 )
Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
23 Oct 2024 | Even Healthcare | Healthtech | – | B2C | $30 Mn | Series A | Khosla Ventures, Founders Fund, 8VC, Lachy Groom | Khosla Ventures |
22 Oct 2024 | Neysa | Enterprise Tech | Horizontal SaaS | B2B | $30 Mn | Series A | NTTVC, Z47, Nexus Venture Partners | NTTVC, Z47, Nexus Venture Partners |
21 Oct 2024 | evil eye* | Media & Entertainment | Gaming | B2C | $26.2 Mn | – | SBI Mutual Fund | – |
21 Oct 2024 | Stellapps | Agritech | FaaS, Market Linkage | B2B-B2C | $26 Mn | Series C | Blume Ventures, Omnivore, Bill & Melinda Gates Foundation, IDH Farmfit Fund, 500 Startups, Blue Ashva Capital, Miledeep Capital, US International Development Finance Corporation | – |
25 Oct 2024 | Healthify | Healthtech | Fitness & Wellness | B2C | $20 Mn | pre-Series D | Khosla Ventures, LeapFrog Investments, Claypond Capital | Khosla Ventures, LeapFrog Investments |
22 Oct 2024 | Zouk | Ecommerce | D2C | B2C | $10 Mn | Series B | Aavishkaar Capital, Stellaris Venture Partners, Titan Capital, Sharrp Ventures, JJ Family Office | Aavishkaar Capital |
21 Oct 2024 | Advance Mobility | Logistics | Supply Chain | B2B | $3 Mn | – | Growthcap Ventures, India Accelerator, Finvolve | – |
23 Oct 2024 | WishNew Wellness | Ecommerce | D2C | B2C | $250K | – | Gyanesh Sharma, Abhijeet Rana, Ashish Singh | – |
24 Oct 2024 | BY Earsafe | Ecommerce | D2C | B2C | $126K | Seed | Inflection Point Ventures | Inflection Point Ventures |
25 Sep 2024 | Automotive** | Ecommerce | D2C | B2C | – | pre-Seed | Venture Bridge | Venture Bridge |
Source: Inc42 *Part of a larger round **Included this week as it was skipped earlier. Note: Only disclosed funding rounds have been included |
Key Startup Funding Highlights Of The Week
- Healthttech startup Even Healthcare bagged the biggest cheque of the week, raising $30 Mn in its Series A round led by Khosla Ventures, along with Founders Fund, 8VC and Lachy Groom.
- On the back of Even Healthcare’s fundraise, healthtech emerged as the investor favourite startup sector this week. Besides, Healthify (formerly Healthifyme) also raised $20 Mn in its pre-Series D funding round.
- Ecommerce sector saw the highest number of rounds materialise this week as it witnessed a fresh capital infusion of $10.4 Mn across 4 deals.
- Khosla Ventures emerged as the most active investor this week, backing Even Healthcare and Healthify.
- Seed funding plunged this week to $126K as compared to $26.5 Mn raised by startups at this level.
Mergers & Acquisitions This Week
- FirstCry’s rollup brand GlobalBees has invested INR 4.5 Cr in its subsidiary Dynamic IT Solution to acquire more stake in the company. Dynamic IT Solution builds sports & fitness accessories and other sports and fitness products under the brand name Strauss.
- While announcing its financial results for Q2 FY25, Zomato said that it has received its board’s nod to acquire an 8% stake in innovative kitchen appliances maker Byondnxt.
- Online travel aggregator announced the acquisition of 51% stake in train food delivery platform Zoop Web Services Pvt Ltd for INR 12.54 Cr this week.
Fund Launches This Week
- Venture capital firm Avaana Capital marked the final close of its early stage fund at $135 Mn. Via the fund, it plans to back 20-25 startups in the cleantech space.
- Snapdeal founders Kunal Bahl and Rohit Bansal led Titan Capital marked the final close of its new fund, Titan Capital Winners Fund, at $40 Mn.
- About three months after its announcement, the union cabinet has approved a spacetech VC fund with a corpus of INR 1,000 Cr under the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
- US-based venture capital firm General Catalyst launched its new fund, Fund XII, this week. The VC has raised $8 Bn fresh capital to back startups across the globe operating in sectors like artificial intelligence, defence and intelligence, climate and energy, industrials, healthcare and fintech.
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