[Weekly funding roundup] July begins on a strong note

The month of July has started on a positive note for the Indian startup ecosystem, with venture funding crossing $750 million for the first week.

The equity venture funding for the first week of July stood at $761 million across 36 deals, powered by the first Indian unicorn of 2021, Digit Insurance, whose valuation continues to rise. Others startups such as Licious and Fourth Partner Energy also raised three-digit funding.

The majority of the transactions during the week was in the early stage at 23, as has been the trend over the last two years, with growth stage accounting for 11 deals, and late stage at three.

As the year has crossed six months, the current trend suggesting that the overall venture funding into Indian startups will go way beyond the 2020 figure.

Key deals

Unicorn and insuretech startup Digit Insurance raised $200 million from Faering Capital, Sequoia Capital India, IIFL Alternate Asset Managers, and others at a valuation of $3.5 billion.

Licious, the online meat brand, raised $192 million in a Series F funding led by Temasek and Multiples Private Equity.

Solar energy startup Fourth Partner Energy raised $125 million from Norfund and The Rise Fund.

Other transactions

Gaming platform WinZo raised $65 million in a Series C round, led by Griffin Gaming Partners.

Edtech startup Quizizz raised $31.5 million in an ongoing Series B round led by Tiger Global Management. Nexus Venture Partners, GSV Ventures, and Eight Roads Ventures also participated.

Fintech startup slice raised $20 million from existing investors Gunosy and Blume Ventures.

Fintech startup MobiKwik raised nearly $20 million from Abu Dhabi Investment Authority.

Logistics startup GoBOLT raised $20 million in Series B round from Paragon Partners Growth Fund II and Aavishkaar Capital.

Hotel chain Treebo Hotels raised $16 million in a Series D round from Accor, with participation from BCCL and existing investors.

Industrial AI startup Detect Technologies raised $12 million from Accel Partners, Elevation Capital, Bharat Innovation Fund, BlueHill Capital, and Axilor Ventures.

D2C fresh vegetables and fruit brand Fraazo raised $11 million in a Series A round led by Sixth Sense Ventures, Nabventures, and Equanimity Ventures among others.

Deals below $10 million

Game streaming platform Loco raised $9 million in a seed round led by Krafton and Lumikai. Hashed, Hiro Capital, North Base Media, Axilor Ventures, and 3one4 Capital also participated.

CredR, a used bikes startup, raised $6.5 million from Yamaha Motors, Omidyar Network India, Eight Roads Ventures, and Astarc Ventures.

Healthtech startup Meddo closed pre-Series A round at $6 million led by SRI Capital, Picus Capital, and Alkemi Capital. 

Edtech startup Nalanda Learning raised Rs 40 crore from Aavishkaar Capital.

Online makeup and beauty learning platform Airblack raised $5.2 million Series A funding from Info Edge Ventures and Elevation Capital.

Energy tech startup ION Energy raised $3.6 million in pre-Series A round from Amazon’s Climate Pledge Fund, Climate Capital, YourNest etc.

Naturoponic farm brand Gourmet Garden raised Rs 25 crore from Beyond Next Venturs, M Venture Partners Incubate India and Whiteboard Capital.

Online pharmacy startup TABLT raised $3 million in a Series A round from Siti Cable.

Petcare startup Supertails raised over $2.6 million in pre-Series A round led by Saama Capital and DSG Consumer Partners.

Rural tech startup Hesa raised $2 million in a seed round led by Venture Catalysts and 9Unicorns.

Ayurvedic wellness startup Auric raised $2 million in pre-Series A round from Venture Catalysts, Cactus Venture Partners and 9Unicorns.

Comfort tech startup The Sleep Company raised Rs 13.4 crore in pre-Series A round from Fireside Ventures and LogX Ventures.

E-mobility startup Raptee Energy raised $700,000 in an angel round.

Deeptech startup peAR Technologies raised Rs 2.5 crore in the pre-Series A round led by Inflection Point Ventures.

Edtech startup Edmingle raised $300,000 from SucSEED Indovation Fund, Mumbai Angels, and others.

Knackit raised a seed round of Rs 1 crore from serial entrepreneur Jyoti Bansal.

The following startups raised an undisclosed round of funding: TyrePlex, Prabhuji Online, Powerhouse91, Niramai, Navars Edutech, Intervue, Instamojo, Humit and Chargeup.