Funding Round-up this week from March 19 to 25

This week, from March 19 to 25, witnessed several funding rounds and acquisitions, with many cities across India making headlines for securing funds. Approximately 22 Indian startups collectively acquired $447.35 million in funding, comprising nine expansion-stage deals and eleven initial-stage deals. Notably, two startups, Droom and Dairy Day, chose to keep their deals undisclosed.

In terms of city-wise distribution, Bengaluru-based startups led with 14 deals, followed by Delhi-NCR with 3 deals. Mumbai, Hyderabad, Kolkata, and Ahmedabad followed suit.

Regarding the types of funding rounds, seed funding deals topped the list with five transactions. Four startups secured funding in Series B rounds, followed by three pre-seed, three Series A, and two Series D deals.

The total startup funding for this week saw a 56% increase to $447.35 million across 22 deals, compared to the previous week where 30 startups secured around $287 million in funding. On average, over the past eight weeks, funding amounted to approximately $254 million per week, with 26 deals each week.

1. Engrail secured the highest funding at $157 million: 

Engrail Therapeutics, a health-tech firm acquired $157 million in funding in a Series B financing round. It was co-led by healthcare-oriented venture capitals F-Prime Capital, Forbion, and growth equity investor Norwest Venture Partners.

2. Pocket FM raised funds in the Funding round this week:

The audio entertainment platform Pocket FM acquired funds of $103 million in the funding round Series D led by Lightspeed and Stepstone Group. Also, the company is in talks with the Abu Dhabi Investment Authority (ADIA) for a fresh fund issue for around $1.2 billion. 

3. Ultrahuman has raised $35 million in a Series B funding round: 

Wearable-tech start-up Ultrahuman secured funding of $35 million in funding round-up Series B led by Blume Ventures, Steadview Capital, Nexus Venture Capital, and Alpha Wave. 

4. Good Glamm Group secures funding $30 million this week:

The beauty products and content company, Good Glamm Group, has secured funding of $30 million through rights issues, attaining a flat valuation of $1.2 billion from its existing investors, including Warburg Pincus.

5. Data-collaboration platform Atlan raises $6.5 million:

In the extended Series B round, data-collaboration software provider Atlan raised $6.5 million, with WaterBridge Ventures leading the deal. Previously, the company had secured approximately $50 million in funding last year, with Salesforce Ventures leading the round.

6. B2B start-up Jumbotail raises funds Rs 151 crore from Artal Asia and others:

Jumbotail B2B marketplace and a retail platform have raised Rs. 151 crore in round-up Series C3 led by investor Artal Asia. Other participating investors were Heron Rock, Sabre Investment, Arkam Ventures, Jarvis Reserve Fund, Reaction Global, and VII Ventures.

7. NBFC Dvara KGFS raises $14.4 million led by Impact Investment Exchange (IIX):

NBFC Dvara KGFS in India's remote rural areas has raised $14.4 million through listed non-convertible debentures led by Impact Investment Exchange (IIX). These funds will be used to disburse loans to women borrowers through a joint liability group, micro-enterprise loans, and loans for water, sanitation, and hygiene.

8. Specialty coffee start-up Subko secures funding led by Nikhil Kamath's Zerodha:

Subko a specialty coffee start-up secures funding through Zerodha. The company raised $10 million in a funding round-up. The deal witnessed the participation of investors including Blume Founders, The Gauri Khan Family Trust and actor John Abhram among others.

9. MSME lending start-up Optimo Loan secures $10 million seed funding:

Optimo was founded by EaseMyTrip, a lending start-up for rural India that has secured $10 million in seed funding. The round was led by Blume and Omnivore and the deal was closed by the founder Prashant Pitti as an additional contribution.

10. Brij Hotels secure $4 million in Series A round:

In the Series A funding round, Brij Hotels secured $4 million led by the Manipal Education and Medical Group (MEMG) Family Office with participation from prominent investors including Abhay Jain, Abhiroop Jayanthi (MD of Bain Capital), Rajendra Rao, and Prashant Deshpande. 

11. Climate-tech start-up Sprih acquired funding of $3 million led by Leo Capital:

Climate-tech start-up Sprih raised $3 million led by initial-stage venture capital firm  Leo Capital. This fresh issue of funds will be used for expanding globally on the sales front, acquiring expertise in developing Artificial Intelligence (AI) focused on climate issues and expanding the network of partners.

12. HCIN Network bags to boost its networking solutions portfolio as it acquired funding:

HCIN Network a Networking solution provider has raised equity funding of $1.5 million led by Swastika Investmart with participation from Ankit Mittal, Vijay Khetan (executive director, Param Capital), Ageless Capital, MSB E-Trade Securities and HNIs. The company aims to improve its services expanding its reach in the telecom and internet infrastructure sector and streamlining the implementation of current projects.

13. Beatoven.ai bags  $1.3 million in pre-Series A funding round:

Beatoven.ai AI-based music start-up raised $1.3 million in funds in a pre-Series A funding round. The deal was led by Capital 2B and Entrepreneur First, which marks a very significant role as the company aims to grow and expand. 

14. Yenmo fin-tech start-up $500K in a funding round led by Y Combinator:

Fintech platform Yenmo provides instant loans against mutual funds and has raised $500K in a seed-funding round led by US-based start-up accelerator Y Combinator.