Startup Funding for this Week (Week 11-17 July 2022)

This month began with a weak tone for India's startup ecosystem, with a sharp drop in venture capital inflows as there were no major deals in the  third week of the month.

This week, 33 Indian Startups raised money, 25 of which received a total of about $461 million and two Startup One Card and 5ire are the top fundraiser, raising $ 100 million each to join the Unicorn Club. Last week, 25 domestic Startups raised about $89.69 million.

In the meantime, funding for eight of the total funded Startups remained secret.

Few Important Startup Transactions

OneCard, a fintech startup, raised $100 million in funding from Temasek, QED, Sequoia Capital, and Hummingbird Ventures at a valuation of $1.4 billion.

Detect Technologies, a SaaS (Software-as-a-Service) startup, raised $28 million in funding from Prosus Ventures, Accel, Elevation Capital, Shell Ventures, and Bharat Innovation Fund.

Prosus Ventures, Matrix Partners India, Elevation Capital, Lightspeed India, and Ankur Capital invested $25 million in Vegrow, a B2B (business-to-business) fruits marketplace startup.

Wysa, a mental health platform, received a $20 million investment from HealthQuad, British International Investment (BII), W Health Ventures, and Kae Capital.

Wheelocity, a supply chain startup, raised $12 million in funding from Lightspeed India Partners, Anicut Capital, and other investors.

String Bio raised $20 million in funding from Ankur Capital, Dare Ventures, Redstart, Zenfold Ventures, and Woodside Energy.

Acquisitions and Mergers

Aside from the fundraisings, there were a couple of acquisitions this week. The acquisition of recruitment and staffing platform Wolves India by upGrad (via Rekrut) and (Clinix) by MediBuddy in an undisclosed deal are among those on the list.

Private Transactions

PropReturns, Ganit, Nayam Innovations, DAOLens, Corn Junction, Digi2L, NeemAyu do not disclose the financial details of the transactions.

City and Segment wise funding

This week, Bangalore topped the list in terms of the number of startup transactions and the amount they raised. Thirteen Bangalore-based startups have raised $ 218.1 million this week, according to Fintrackr data. This represents 47.31% of the total funding.  

VC Fund

Lightspeed Ventures has raised $ 500 million in India and Southeast Asia in addition to venture capital funds. About 20 VC companies have announced  new funds this year. This list includes Sequoia Capital, Matrix Partners, Elevation Capital and Jungle Ventures.

We'll be back next week with another roundup of deals.

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