[Weekly funding roundup] Startups raise over $262M, Avaada and CleverTap bag maximum funding

Over the last week, the Indian startup ecosystem raised $262 million across 22 deals. Equity funding was led by cleantech venture Avaada, followed by CleverTap, which raised $26 million in a Series B round from Sequoia India, Tiger Global Management, and Accel.

Over the last week, the Indian startup ecosystem raised $262 million across 22 deals. The biggest round was raised by Delhi-based clean and renewable energy startup Avaada Energy, which raised $144 million (nearly Rs 1,000 crore) from Asian Development Bank.

Next was CleverTap, which raised $26 million in a Series B round, led by Sequoia India. Other participants included new investor Tiger Global Management, and existing investor Accel.

Also read: [Funding Alert] Tripoto raises Rs 25 Cr in Series B round


The fintech sector received four investments this week.

Payments platform Cashfree secured $5.5 million in Series A funding, led by Korea's Smilegate Investments. Existing investor Y Combinator, and notable investors, including former Chancellor of the exchequer UK George Osborne, and former MD of Cholamandalam Investment Vellayan Subbiah also participated in the round.

Bengaluru-based API infrastructure company Setu raised $3.5 million as a part of seed round capital led by Lightspeed India Partners, with participation from Bharat Inclusion Seed Fund.

Eduvanz Financing raised $2 million in a pre-Series A round from Unitus Ventures, and the Michael and Susan Dell Foundation. The company will be using the funds to expand its geographies.

Online lending platform Credy received an undisclosed amount of funding in the form of debt and equity from MAS Finance.

Early-stage deals

Gurugram-based real money gaming startup Zupee raised $1 million from Smile Group in a pre-Series A round.

Hyderabad-based Monitra Healthcare raised angel investment from Indian Angel Network. The round was led by investors KNK Venkataraman and Dr Vinayendar Tulla. KNK also joined the company board as a mentor.

Healthcare services provider Digilooks raised an undisclosed amount of funding from angel investors in a pre-Series A round. Investors included Ashwani Gupta, Sunil Chawla, Sanjay Malhotra, and Harvinderjit Singh Bhatia.

New-Delhi based wellness startup for women Azah raised $200,000 in pre-Series A round.

Series A and B deals

Bengaluru-based online healthcare platform Medlife raised $17 million in equity funding from Founder Tushar Kumar’s family trust, Prasid Uno Family Trust.

Micro-tourism focused hospitality management startup V Resorts raised $10 million in a Series A round, led by various High Networth Individuals (HNIs). Existing investors Bedrock Ventures and RB Capital also participated in the round.

Technology-driven co-living startup Colive raised $9.2 million in a Series A round from real estate developer Salarpuria Sattva Group. The Bengaluru-based company will use the funds to scale up its operations.

Women-focused reseller platform GlowRoad raised $10 million in a Series B round, led by China-based CDH Investments, with participation from existing investor Accel Partners.

Tripoto, an online travel community platform, raised $3.6 million in its Series B round from Orchid India, Hornbill Orchid India Fund, Chiratae Ventures(formerly IDG Ventures), 3one4 Capital, and Lasmer NV.

Series C and D

Bengaluru-based AI healthcare startup SigTuple raised Series C funding of $16 million, led by Trusted Insights. Existing investors Accel Partners, Chirantae Ventures, and Pi Ventures, along with Flipkart Co-founder Binny Bansal, and Trifecta Capital also participated in the round.

Online pharmacy startup 1mg raised $10.3 million in a Series D round, led by Redwood Global Healthcare Fund.


Klook, a travel activities and services booking platform, confirmed raising $225 million in a 'Series D Plus' round led by SoftBank’s Vision Fund. The latest fundraise takes the company’s total Series D funding to $425 million.

Software firm Kuliza raised $3 million from Silicon Valley-based Emergent Ventures.

Kalyan Krishnamurthy, CEO of Flipkart, invested $2.3 million in hyperlocal marketplace UrbanClap. Sources close to the matter said that the valuation of the company, post this round, stands at around $480 million.

Online gaming startup BalleBaazi announced that it has secured $1 million in funding from its parent company, Baazi Games.

Bhopal-based smart waste management system startup The Kabadiwala raised $434,000 in equity funding from early-stage investors, HNIs. Senior industry professionals Bhushan Gajaria, Advisor of Beehive Capital; Bharat Mandloi of ABCOM Investments; Suresh Parekh of Parekh Marine Transport; Naveen Reddy, Supply Chain Director of Unilever and angel investor Vishal Thaker participated in the round.

Online travel major MakeMyTrip’s Indian arm, MakeMyTrip India Pvt Ltd, received Rs 103 crore from the Mauritius-based entity


Marketing technology company Netcore Solution acquired AI-chatbot company Quinto.ai. The deal was facilitated by Propeluss.

Info Edge India, the company that owns and operates Naukri.com and 99acres.com, invested Rs 6 crore in online B2B footwear marketplace ShoeKonnect.

In other news, wellness startup founded by Myntra Founder Mukesh Bansal and Ankit Nagori, CureFit, bought cold-pressed juice brand Rejoov.

(This article has been updated to correctly state that Avaada raised $144 million in equity funding and not debt funding, as reported earlier. )

Also read: PayU acquires California-based digital payments company Wibmo for $70M