Indian Startups Secure ₹2,257 Crore: Weekly Funding Report (01 – 06 July)

Overview

• Total Funding Raised: ₹2,256.96 crore (24 startups)
• Growth-Stage Deals: ₹1,955.18 crore (4 deals)
• Early-Stage Deals: ₹301.62 crore (20 deals)
• Previous Week Funding: ₹1,761.63 crore (25 startups)

This week, 24 Indian startups collectively raised ₹2,256.96 crore, which includes 4 growth-stage deals amounting to ₹1,955.18 crore and 20 early-stage deals totaling ₹301.62 crore. In comparison, the previous week saw 25 startups securing over ₹1,761.63 crore.

Growth-Stage Deals

• Pulplle: ₹1,001.76 crore (Series F)
• OYO: ₹417.4 crore
• Matter: ₹292.18 crore
• Arya.ag: ₹243.84 crore

Four growth-stage startups raised significant amounts this week, with Purplle leading at ₹1,001.76 crore. OYO followed with ₹417.4 crore, Matter secured ₹292.18 crore, and Arya.ag raised ₹243.84 crore.

Early-Stage Deals

• Total Early-Stage Funding: ₹301.62 crore
• Leading Startups: Comet, Watch Your Health, Dice, Ripplr, Pepul
• Other Notable Mentions: Bike Bazaar, Wify, Lobb

Twenty early-stage startups raised a total of ₹301.62 crore, with Comet leading the list. Other notable startups include Watch Your Health, Dice, Ripplr, Pepul, Bike Bazaar, Wify, and Lobb.

City and Segment-Wise Deals

• City-Wise:
  • Bengaluru: 7 deals
  • Delhi-NCR, Mumbai, Pune, Ahmedabad: Following
• Segment-Wise:
  • E-commerce: 4 deals
  • Healthtech, Proptech, Agritech, Logistics: Following

Bengaluru led with 7 deals, followed by Delhi-NCR, Mumbai, Pune, and Ahmedabad. E-commerce was the top segment with 4 deals, followed by Healthtech, Proptech, Agritech, and Logistics.

Series-Wise Deals

• Seed Funding: 5 deals
• Series A & Pre-Series A: 4 deals each
• Pre-seed: 3 deals
• Debt Funding: 2 deals

The week saw 5 seed funding deals, 4 Series A and Pre-Series A deals each, 3 pre-seed deals, and 2 debt funding deals.

Week-on-Week Funding Trend

• Current Week Funding: ₹2,256.96 crore
• Previous Week Funding: ₹9,906 crore
• Average Funding Over Last 8 Weeks: ₹33,730.72 crore (₹404 crore per week)

Funding decreased by 76.73% to ₹2,256.96 crore from ₹9,906 crore in the previous week. The average funding over the last 8 weeks is ₹33,730.72 crore with around 28 deals per week.

Fund Launches

• Suzuki Next Bharat Ventures:
  • Fund Size: ₹340 crore
  • Focus: Early-stage startups in rural and informal economy sectors
  • Sectors: Agritech, Financial Inclusion
  • Investment Range: ₹1 crore to ₹8 crore per startup

Suzuki launched the Next Bharat Ventures fund with ₹340 crore, focusing on early-stage startups in rural and informal economy sectors, particularly Agritech and Financial Inclusion.

Key Hirings

• Mandar Vaidya: CEO at Cloudphysician
• Ajay Mittal: General Partner at ValuAble
• Swati Rustagi: VP at Adobe
• Kunal Bariwal: Lead Product at CaptainBiz
• Lydia Jett: Independent Director at Flipkart

Mergers & Acquisitions (M&A)

• CoinDCX: Acquired BitOasis
• Phenom: Acquired Tydy
• Nodwin Gaming: Acquired Freaks 4U Gaming for ₹271 crore

Layoffs and Shutdowns

• Unacademy: Laid off 250 employees
• Koo: Shutting down due to inability to find a buyer

Potential Deals

• Ripplr: Close to securing ₹39.24 crore from Northern Arc
• Scandalous Foods: Seeking fresh capital

Financial Results

• Ixigo: Revenue ₹656 crore, PAT ₹73 crore
• Mylab: Revenue less than ₹100 crore, slipped into losses
• NoBroker: Revenue ₹609 crore, losses up by 64%
• Akumentis: Income ₹400 crore, profit ₹57 crore

News Flash

• DPIIT: Recommends removing angel tax
• Zerodha: To stop zero brokerage model
• FirstCry, Unicommerce: Get SEBI approval for IPO
• Zomato: ₹9.5 crore GST demand notice
• Swiggy: Introducing Eatlists and UPI Payments
• Karnataka: Crackdown on illegal bike taxis
• Delhivery: Drone operations approved

Overview :

• Weekly funding dropped by nearly 77%.
• The Commerce Ministry proposed the removal of the angel tax.
• FirstCry and Unicommerce received SEBI approval for IPO.
• Zomato is shutting down its Xtreme service and relaunching intercity food delivery.