Funding Round-up this Week: April 21 to 27

This week, around 27 Indian startups acquired nearly $222.7 million in funding. Among these deals were 7 expansion-stage deals and 17 initial-stage deals. Moreover, 3 initial-stage startup deals didn’t disclose their details, including FlexiCloud, Nikitek (GoDigiTag), and Rentomojo.

In the previous week, approximately 37 initial-stage startups together raised around $310 million in capital.

In terms of city and segment-wise distribution, Bengaluru-based startups led with 10 deals, followed by Delhi-NCR, Mumbai, Chennai, Hyderabad, Ahmedabad, and others.

Fintech startups secured the top spot with 5 deals, followed by SaaS startups. The list continues with e-commerce, logistics, proptech, healthtech, AI startups, and others.

Seed funding deals dominated the list with 11 deals, while Pre-Series A deals followed with 6, together forming approximately 30% of the total funding. Further, Debt, Series C, Series D, and Series E continue the list, among others.

Regarding the week-on-week funding trend, startup funding declined by 28% to $222.7 million compared to the previous week's total of around $310 million. The funding average last 8 weeks stood at $247 million, with 26 deals per week.

Network-as-a-service CloudExtel raises INR 200 crore

On Wednesday NaaS provider CloudExtel acquired INR 200 crore as its first external debt funding led by Macquarie Capital and Advencap. This issue of fresh funds will go into expanding its network of small cells and fibre optics.

LetsTransport secures a $25 million fund this week

This week, LetsTransport, a truck aggregator service for enterprises, announced securing $25 million. The deal was led by Bertelsmann India Investments. Previously, the company had raised funds totaling $55 million, with investments from Shanghai-based Fosun International and Stride Ventures.

BankBazaar acquires debt and equity funds up to INR 130 crore

Online marketplace for financial products, BankBazaar, acquired debt and equity fund led by private placement in Series D. The deal received Rs. 80 crore ($9.6 million), whereas, it received INR 46.35 crore earlier.

Clix Capital raises $6 million as debt funding

In the latest funding round, Clix Capital raised $6 million as debt funding led by DCB bank. The Delhi-NCR-based company will utilize this fresh issue of funds for its working capital needs to grow its business.

Samunnati raises $5 million in debt led by Enabling Qapital

Samunnati an agri value chain financier, raised $5 million in debt. The deal was led by Enabling Qapital and the fresh capital will facilitate Samunnati’s expansion efforts, enabling it to reach a broader spectrum of farmers.

Dhruva Space steals the deal at $9 million this week

Dhruva Space locks the funding at $9 million in a mixed equity and debt led by IAN Alpha Fund, Technology Board, including other existing investors. This fresh issue of funds will be used to set up the first phase of its 2.8 lakh sq ft spacecraft manufacturing facility in the city.

Accacia raises $6.5 million Pre-A round led by Illuminate Financial

In the Pre-Series A round, Accacia, a real estate decarbonization platform, secured $6.5 million. The deal was led by Illuminate Financial, a specialist VC firm focused on enterprise fintech companies. Illuminate Financial has offices in New York, London, and Singapore.

Capria Ventures closes India Opportunity Fund post sale of Awign

Awign’s acquisition by Japan-based Mynavi Corporation demonstrates the global demand for quality operating businesses in India. Capria Ventures, a Global South specialist venture capital firm, announced the successful completion of fundraising for its India Opportunity Fund at INR 153 crore.

CheQ raises $150 million in Series C round

CheQ (B2C) credit management platform acquired $150 million in the latest funding round. The funding was led by Tiger Global with other existing partners from Battery Ventures, Hanaco and The Phoenix alongside the newest partner Key1 Capital.

Boba Bhai raises INR 12.5 crore led by Titan Capital and others

The quick-service restaurant (QSR) bubble tea and other food items platform Boba Bhai secured INR 12.5 in seed funding from Titan Capital and Global Growth Capital. The fresh issue of funds will be utilised to expand up to 100 outlets within the next 12 months.

Plane acquires $4 million in a Seed round of funding from OSS Capital

An open-source project management platform, Plane raised funds $4 million in the latest seed round held this week. The deal was led by OSS Capital. The fresh issue of funds will facilitate the company's community growth and compete in the enterprise segment.

Soleos Solar Energy Pvt Ltd raises INR 26.5 crore in equity funding

In the recent funding round, Soleos Solar Energy Pvt Ltd, a Solar EPC solutions provider, secured funding of INR 26.5 crore. The funding was led by India Ahead Venture Fund, Sunil Singhania’s family office, Madhuri Madhu Kela, Nabs Vriddhi LLP, Pawan Agarwal (Head of PCG at InCred Capital), and several other HNI investors. This funding infusion will assist the company in meeting its working capital needs.

FlashAid Bags $2.5 Million in Pre-Series A Funding Round

The Mumbai-based insurtech startup focused on healthcare FlashAid acquired $2.5 million. The deal was closed and co-led by Piper Serica Angel Fund and SOSV in Pre-Series A Funding Round.

MatchLog Solutions raises $1.5 million in pre-series A round

MatchLog Solutions, a sustainable container logistics and supply chain optimization, has raised $1.5 million in the pre-series A round led by Motion Ventures and July Ventures, with participation from Venture Catalysts, Blue Ashva Capital, and Capital A.

Call management CRM Runo raises $1.5 million in pre-Series A

The SIM-based outbound call management company Runo raised $1.5 million in the Pre-Series A. The deal was closed by Unicorn India Ventures and Callapina Capital and funds will be utilized primarily towards onboarding a senior management team in Product and Development.