[Weekly Funding Roundup] Indian startup ecosystem raises over $340M, BYJU's raises $150M

The Indian startup ecosystem raised an equity funding of $341.3 million in the second week of July across 18 deals. This is almost the same amount raised last week when Indian startups had raised close to $342 million.  

Late stage deals took the prime spot, owing to BYJU’s mega $150 million investment round led by Qatar Investment Authority (QIA).    

Late-stage deals raised a total of $289.6 million, contributing to 85 percent of the total deal flow while less than $12 million was raised by early-stage deals. 

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Deal of the week

This week, edtech unicorn BYJU'S raised the largest funding with a $150 million investment led by Qatar Investment Authority (QIA). The round also saw participation from Owl Ventures, a leading investor in education technology. This is the first-ever primary investment from Owl Ventures in India.

With this round of funding, BYJU'S aims to aggressively expand in international markets.

Late stage deals took centre stage!

B2B industrial goods ecommerce marketplace Moglix announced the closing of its Series D round of funding of $60 million, which was led by Tiger Global with participation from Sequoia India and Composite Capital.

This week, Bengaluru-based digital banking and fintech startup NiYO Solutions raised $35 million in Series B round led by Horizons Ventures, Tencent and existing investor, JS Capital LLC. With this, the total funding raised by NiYO stands at $49 million.   

Technology-enabled logistics startup Rivigo said that it has closed its $65 million Series E funding from its existing investors SAIF Partners and Warburg Pincus. The startup aims to use these funds to further strengthen its technology and network coverage, which is a key game changer for the larger logistics market in the country.

Student housing startup Stanza Living raised an undisclosed amount as a part of its ongoing Series C round, led by Falcon Edge Capital. However, sources close to YourStory said that the investment raised as a part of this round is close to $50 million.

Growth stage and early-stage funding lagged behind!

The total funding raised by growth and early-stage deals stood at $50.82 million.

This week, Mumbai-based Indus OS, raised Series B funding of $5.75 million from the investment arm of Samsung and existing investors Ventureast.

Robotics startup Emotix raised seed funding of Rs 18.6 crore from Chiratae Ventures (formerly IDG Ventures), YourNest India VC Fund, and Technology Venture Fund, according to RoC filings accessed by YourStory.

Mumbai-based HealthAssure, a health-tech primary care services platform, raised $2.5 million in a Series A round led by Blume Ventures, an early stage venture capital fund.

Gurugram-based SaaS startup, O4S raised $2.1 million in Pre-Series A funding led by Venture Highway to expand its operations in India.

Flipkart Co-founder Binny Bansal led an investment round of $1 million in House of Masaba, the luxury label brand founded by celebrity fashion designer Masaba Gupta.

Cornerstone Venture Partners, a venture fund floated by Reliance Industries Ltd executives invested $1 million each in two startups, Singapore-based Wigzo Technologies and Mumbai-based IntelligenceNode Consulting Pvt. Ltd.

Bengaluru-based social audio platform Headfone raised $750,000 in seed funding led by Fosun RZ Capital, an affiliate of Chinese conglomerate Fosun Group.

Mumbai-based interactive video platform Toch raised $450,000 in Pre-Series A funding led by investors from Hyderabad Angels, Mumbai Angels and other high net worth individuals (HNIs).

Edtech startup Board Infinity has raised $ 320,970 (or Rs 2.2 crore) in an angel round from a clutch of angel investors.

Sustainable clothing brand, NorthMist raised $146,320 (or Rs 1 crore) in equity from a clutch of angel investors.

Undisclosed deals included Jaipur-based automotive BattRE, Bengaluru based space-technology startup Pixxel, and Hyderabad-based Pure EV. 

The week of exits!

Walmart Labs, the technology arm of the US retail giant Walmart, acqui-hired two Bengaluru-based startups to strengthen its customer service systems. The company acqui-hired healthtech startup FloCare and B2B wholesale trading platform BigTrade for undisclosed sums. 

Other exits this week included hyperlocal delivery startup Milkbasket on Tuesday acquiring PSR SupplyChain, Gurugram-based foodtech unicorn Zomato India acquiring not-for-profit Feeding India, and fintech startup PayNearby acquiring We Care Insurance Broking Services.

(Edited by Saheli Sen Gupta)

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