India's Start-up and Funding Round-up this week March 1 to 8

Read the latest funding, deals, newly launched startups, mergers, and acquisitions observed in many significant fields this week from March 1 to 8.

Discussing the latest deals, funding, and newly launched Indian startups, major growth and expansion stage deals this week reveal that Indian startups raised $141 million. Many DTC brands in skincare, nutrition, beer companies, tech, and e-commerce startups have acquired funding. Around 17 initial-stage startup deals have emerged this week, acquiring funding up to $166.8 million.

Around 65% of the total funding for this week was collectively acquired by Bengaluru with 9 deals whereas the majority of the deals acquired by Delhi NCR-based start-ups led 10 deals, Mumbai, Hyderabad, Kolkata, Ahmedabad, Surat, and Lucknow followed the same.
Read the article for the latest updates.

Startup funding saw a 20% decrease last week, falling to $307.8 million from $384.16 million. Over the past 8 weeks, the average funding has been approximately $216 million each week, with an average of 26 deals per week.

Nine startups acquired funding in their seed round, followed by five Series A deals this week. In the pre-funding Round-up, three startups raised funds in Series A, followed by two deals each in debt, Series E, and Series B funding.

1. The Ayurveda Experience acquired $27 million.

A Singapore-based venture capital firm, Jungle Ventures, has shifted its focus towards growth-expansion stage companies in India and Southern Asia. The Ayurveda Experience acquired $27 million in Series C funding, with previous investment participation from SIDBI Ventures, Anicut Capital, and Sharrp Ventures (Mariwala Family Office), collectively raising the total funding to $41 million.

2. IDfy raised $27 million in Round-up Series E.

The ID verification platform raised $27 million in primary and secondary funding. The Mumbai-based startup secured funding from Elev8 Venture Partners, a major growth-stage fund of South Korea's KB Investments, along with its limited partners and affiliates.

3. The Indian-crafted beer maker acquired $10 million in Funding Round-up.

The Delhi-based beer startup Bira 91 has secured $10 million from the Japanese bank MUFG. The fundraiser comes at a time when the company's brewer aims to increase production and capitalize on rising demand.

4. B2B construction equipment supplier Zetwerk raised $20 million.

The unicorn startup Zetwork raised $20 million in funds, led by Rakesh Gangwal, the promoter of IndiGo Airlines. The company has now raised a total of $650 million, including the recent investment.

5. Ed-tech firm Educational Initiatives with $20 million.

The IT giant HCL Group struck a deal to acquire a minority stake in the ed-tech firm Educational Initiatives for $20 million. According to reports, ed-tech companies are estimated to acquire $20 billion in opportunities by 2030, starting from 2022.

6. mPokket an instant loan app raised $60 million.

The digital lending platform mPokket has raised $60 million in debt capital from the private credit platform Baring Private Equity Asia. Previously, the company had raised $2.24 million in January 2020.

7. Generative AI Ema acquiring $25 million in funds.

Gen-AI Ema successfully raised $25 million in a funding round led by Accel and Prosus Ventures, with participation from Wipro Ventures and various other investors. This funding will fuel Ema's mission to transform workplaces through human-AI interactions.

8. Hunch has raised $23 million in a Series A funding round.

The social media platform Hunch has secured $23 million in funding led by Alpha Wave, in association with Hashed Emergent and various other investors. Hunch plans to utilize these fresh funds to expand its social media presence in India.

9. E-commerce startup Rozana received $22.5 million.

The rural e-commerce startup Rozana is seeking $22.5 million in funds as it aims to expand its reach. It aims to fulfill the unique local demands of many Indians beyond the reach of online commerce.

10. Foxtale received $14.4 million led by Panthera Growth Partners. 

The D2C skincare brand Foxtale Consumer has raised approximately $14.4 million in its recent funding round. This fresh equity funding was led by Singapore-based Panthera Growth Partners, with additional investment from existing participants including Matrix Partners India and Kae Capital.

11. HyFun Foods to invest Rs 850 Cr in Gujarat. 

A manufacturing company producing frozen potatoes has announced plans to invest around Rs 850 Cr to install three plants in Gujarat to expand its business and achieve an estimated annual revenue of Rs 5000 Cr by 2028. Additionally, they plan to invest Rs 150 Cr to establish a water treatment plant in Gujarat.

12. Fund Launches

Four startup fund launches were observed this week.

GetVantage has launched the Rise-up Fund, dedicating Rs 100 Cr to support women entrepreneurs' businesses with capital.

Colossa Ventures, a SEBI-registered venture capital company, has announced the first close of its Colossa Women First Fund at Rs 100 crore.

Additionally, the climate tech venture studio NOW has launched a $2 million fund dedicated to investing in deep-tech initial-stage startups in India, aiming to support and nurture innovation in the deep-tech space.

Navam Capital, an initial-stage startup, aims to back startups in frontier technology sectors and has also made the first close of its maiden investment vehicle.