[Weekly funding roundup] Venture capital inflow into Indian startups maintains high momentum

The second week of February saw total venture funding of $300 million, and there was an increase in the volume of transactions as well.
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The investment flow into the Indian startup ecosystem continues to hold high as few of the companies look tantalising close to achieve the unicorn status.

The second week of February saw venture capital inflow at $300 million, which is almost at the same level as the previous week. The highlights of this week were two deals of $100 million in size into two startups – BharatPe and VerSe Innovation. In fact, BharatPe is valued at $900 million, and is on the track to become the next unicorn.

There were a total of 28 deals during the week, 23 of the transactions went into early-stage startups. Growth-stage had three deals, and late-stage had two. Debt funding continues to show steady growth during the second week of February.

Key deals

BharatPe raised $108 million in Series D round, at a valuation of $900 million. The round was led by Coatue Management with participation from Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital.

VerSe Innovation raised $100 million in Series H funding round led by Qatar Investment Authority (QIA) and Glade Brook Capital Partners. It also saw participation from Canaan Valley Capital and Sofina Group.

Other transactions

SplashLearn raised $18 million in Series C round led by Owl Ventures and Accel.

TenderCuts raised $15 million in a round led by Paragon Partners, with participation from NABVENTURES.

Nazara Technologies raised Rs 100 crore from Instant Growth Limited (IGL).

Phable raised $12 million in Series A round led by Manipal Hospitals. The other participants were SOSV, Fresco Capital, and Social Starts.

SarvaGram raised $10.5 million in a Series B funding round led by Elevation Capital, with participation from Elevar Equity.

Scentials Beauty Care and Wellness raised close to $6 million from TIW Private Equity.

Newton School raised $5 million in Series A round led by RTP Global and it also saw participation from other VCs and angel investors.

Method & Madness Technology raised $2 million in a seed round from numerous angel investors from Silicon Valley.

GlobalFair raised a seed round of $2 million from Saama Capital and India Quotient. It also had participation from other angel investors.

Swajal raised $1.6 million from Rajasthan Asset Management Company and a group of investors.

Unlu raised a seed round of Rs 9 crore from Nexus Venture Partners with participation from Mumbai Angels, TiE, and Expert Dojo. 

Siply raised $1 million in a seed round from Jain International Trade Organisation (JITO) Angel Network and Inflection Point Ventures (IPV), along with angel investors.

Infosys will invest an additional $1 million in ideaForge Technology.

ABL Workspaces raised Rs 5 crore from Wurk, a Canadian investment firm.

Adthera Consumer Brands raised Rs 3 crore in an angel funding round led by Anicut Angel Fund.

AutomataPi raised Rs 3 crore from Indian Angel Network (IAN).

EduFund raised Rs 2.5 crore led by View Trade Holding Corp.

Filo raised $260,000 from Better Capital.

OwO Technologies raised an angel round of Rs 1.5 crore from ah! Ventures angel platform along with Marwari Angels and others.

Supersourcing raised a seed funding of Rs 1.5 crore from angel investors.

Supply6, raised Rs 1 crore from India CXO Fund and MAGEhold along with angel investors.

Undisclosed deals

Zingbus raised an undisclosed round led by Venture Catalysts, Titan Capital, and Better Capital, along with angel investors.

Hypd Store raised an undisclosed pre-seed round from ScoopWhoop.

Codingal raised an undisclosed amount from Y Combinator.

India connect

Nothing raised $15 million in a Series A round led by GV (formerly Google Ventures). Kunal Shah of CRED has invested in this startup.

Ushur, the Santa Clara and Bengaluru-based tech startup, raised $5 million from Iron Pillar and Alfac Global Ventures.

M&A

Cure.fit acquired fitness aggregator platform Fitternity for an undisclosed value.

Edited by Kanishk Singh

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