Weeks after navigating a volatile investment activity, funding momentum across the world’s third largest startup ecosystem skyrocketed in the middle of the ongoing month on the back of larger-ticket transactions and consolidations. 

Indian startups raised $559.2 Mn across 19 deals between June 9 and 14, a 316% jump from the $134.4 Mn raised by 16 startups in the preceding week.

Besides the bumper funding trends over the past week, the week was one of the most happening this year for the startups going for IPOs. While several startups took key steps in furthering their market debut, ArisInfra emerged to be the second new-age tech company to file its RHP this week.

Funding Galore: Indian Startup Funding Of The Week [ Jun 9 – 14 ]

Key Startup Funding Highlights Of The Week

• On the back of Groww’s mega funding round and other big ticket deals like CRED’s $72 Mn fundraise, fintech dominated the funding trends at a sectoral level. The sector saw a fresh infusion of $339.7 Mn across the greatest number of six deals.
• Ecommerce trailed fintech this week, with three startups raising $172 Mn. Unicorn Spinny closed its mega funding round this week, raising $170 Mn from investors like Accel and WestBridge.
• The week saw a lot of activity from investors across the board, with firms like Fundamentum, Stride Ventures and Accel, Stellaris, backing multiple startups.
• Seven startups at the seed stage raised $14.1 Mn this week, marking a 83% jump from the $7.7 Mn raised by startups at this stage last week.

Startup IPO Developments This Week

• PharmEasy backed ArisInfra filed its RHP for a INR 500 Cr IPO. The B2B ecommerce company bids to get listed within this month.
• Looking to file its DRHP within a few weeks, ecommerce major Meesho converted into a public entity this week.
• Furniture and mattress company Wakefit converted into a public company in the run up to its INR 2,000 Cr IPO.
• Peak XV-backed fintech unicorn Pine Labs plans on filing its DRHP by the end of this month.

Mergers & Acquisitions This Week

• Wubba Lubba Dub Dub (WLDD) acquired Bengaluru-based creative marketing startup Imagined Studio in an all-cash deal.
• Nazara completed its buyout of video game publisher Curve Digital Entertainment Ltd (Curve Games) for INR 247 Cr.
• BRND.ME (erstwhile Mensa Brands) has sold India Lifestyle Network (ILN) to RPSG Group for around $9 Mn in an all cash deal.
• ICRA has entered into a definitive agreement to acquire risk and reporting solutions provider Fintellix this week.

Other Developments Of The Week

• Listed fintech major Infibeam is set to raise INR 700 Cr via a rights issue to invest in its subsidiaries Infibeam Projects, AI arm Nueromind Technologies, and Reddif, and pursue acquisitions in the future.
• Jewellery brand GIVA is eyeing the raise of INR 450 Cr at a valuation of $374 Mn, marking a near 50% increase from its last valuation.
• Rapido is in talks to secure $15 Mn from Nexus Venture Partners to fuel its food delivery service ‘Ownly’.
• Fintech AbleCredit will be raising $5 Mn in its Series A funding round, as per sources. The funding round will be led by a top Indian VC firm, while existing investors Merak Venture and Venture Catalysts will also participate in the Series A round.
• Electric mobility startup Kazam is set to raise $6 Mn in a funding round led by existing investor Vertex Ventures, with participation from Avaana Capital and Chakra Growth Capital.

Editor’s Note: The story has been updated to incorporate the correct funding numbers for Sanlayan’s Series A round. 

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