[Weekly funding roundup] Venture investments continue to pour into Indian startups

Venture funding into Indian startups continues to rise for the month of July, boosted by a fintech unicorn and a marquee investor in the ecosystem.

The total venture funding into Indian startups for the second week of July stood at $847 million as compared to $685 million in the previous week. This was primarily due to $600 million raised by Pine Labs, and Tiger Global leading a $144 million round in Deal Share.

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The venture funding has already crossed $10 billion in the first six months of the year, and going by the current trend, it looks like it's most likely to double by end of 2021. This would be the highest ever funding raised by Indian startups.

There were 27 deals during the week, with 22 of these transactions in the early category followed by three in the late stage and two in growth.

Key deals

Fintech unicorn Pine Labs raised $600 million led by Fidelity and BlackRock. Others such as Neuberger Berman, Ishana, Tree Line, IIFL, and Kotak participated.

Social commerce startup Deal Share raised $144 million led by Tiger Global. WestBridge Capital, Alpha Wave Incubation, and Z3 Partners also participated.

Other transactions

Logistics startup Shiprocket raised $41.3 million in Series D1 funding from PayPal Ventures, Info Edge Ventures and Temasek.

Edtech startup Teachmint raised $20 million in pre-Series B round led by Learn Capital, with participation from CM Ventures.

CRMNEXT, an enterprise software startup, raised Series B funding of $16 million co-led by Avataar Ventures and Ascent Capital.

Healthtech startup BeatO raised Rs 42 crore from W Health Ventures. PharmEasy, Merisis VP, Orios VP, and Leo Capital also participated.

Transport marketplace startup Vahak raised $5 million in pre-Series A round led by RTP Global. Luxor Capital and Leo Capital also participated.

TWID, a reward platform tech startup raised $2.5 million from BEENEXT, Sequoia Capital India's Surge and angel investors.

Genworks Health, a medical device distributor for Tier-II and beyond locations, raised Rs 15 crore from Blacksoil.

Fountain9, a retailtech startup, raised a seed round of $1.9 million led by multiple investors, which include O21 Capital, Kunal Bahl among others.

HR tech startup MyMobiForce raised $1.42 million in pre-Series A round led by Bharat Inclusion Seed Fund and angel investors.

D2C brand in the personal care space Earth Rhythm raised $1.2 million in seed funding from Anicut Angel Fund.

Alcoholic beverage brand Rockclimber raised $1 million from angel investor and FMCG veteran, Anand Prakash Sharma.

Backpacker hostel brand goSTOPS raised $1 million in a pre-Series A round led by Indian Angel Network (IAN) and Yuj Ventures.

Fintech startup DanaMojo raised Rs 3.05 crore from Rohini Nilekani and Social Alpha.

Neverinstall, a deep-tech startup, raised around $375,000 in a seed round led by Speciale Invest.

Edtech startup SpEd@home raised $300,000 from a group of angel investors and high net worth individuals.

D2C brand Green Soul Ergonomics raised Rs 1.5 crore from Velocity.in.

The following startups have raised an undisclosed round of funding: Pocketly, PeakPerformer, Leegality, CoRiver, Codedamn,CanPe, Biocraft, and Arcatron Mobility.

M&A

Noida-based B2B commerce unicorn Moglix has acquired Vendaxo, an ecommerce platform for buying and selling used machinery. 

Online matrimony company Matrimony.com will acquire ShaadiSaga, a Delhi-based online wedding services portal.