[Weekly funding roundup] Venture investments drop below $21M in the first week of May

The first week of May witnessed a total venture funding of $20.57 million, much lower than the last week of April when the funding touched $583 million. 

The month of April was certainly a high point for the Indian startup ecosystem, with the emergence of eight new unicorns and the total investments for the month touching $4 billion.

This week, there were seven deals, with all of the transactions in the early-stage category. Debt funding accounted for Rs 24 crore ($3.26 million) in the week raised by a Bengaluru-based neo-banking startup Avail Finance.

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There was no late-stage and growth-stage deal during the week, and the ecosystem saw no mergers and acquisitions.

Key deals

Online teaching platform Teachmint raised $16.5 million (around Rs 120 crore) in a Series A funding round led by Learn Capital.

Fintech startup Nivesh secured $1.6 million in a pre-Series A round from IAN Fund.

Arthya Wealth and Investments, a wealth management and investment advisory firm, secured $1 million in pre-Series A funding round led by family offices of industrialist Rishi Kumar Bagla (Bagla Group) and technocrat Krishen Lal Khanna (Trenton Investments).

B2B retail SaaS startup 6Degree received $1 million from SucSEED Indovation Fund, Keiretsu Forum, SucSEED Angel Network, and AngelBay as part of a run-up to a Series A round.

Other transactions

Jidoka Technologies, a startup operating in the field of automated cognitive inspection for manufacturing, raised a seed funding of $340,000 from a technology entrepreneur.

iobot, the parent company of low-code IoT platform Thingsup, secured $100,000 in pre-Series A funding round from GSF Accelerator.

Edtech platform Home Guruji secured Rs 25 lakh in seed funding from Pune-based angel investor Girjesh Vyas.  

India connect

San Francisco-based Obviously AI, a no-code tool that enables anyone to build and run AI models without writing code, raised $3.6 million as seed funding.