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[Weekly funding roundup] Indian startups report $705M venture investments in the third week of October

The third week of October saw venture capital funding to the tune of $705 million as compared to the $1.1 billion in the previous week.

[Weekly funding roundup] Indian startups report $705M venture investments in the third week of October

Saturday October 16, 2021 , 3 min Read

The venture funding momentum for the third week of October decreased as compared to the previous two weeks, where Indian startups reported over $1 billion of capital infusion, largely due to the absence of large deals.


The third week of October saw venture capital funding to the tune of $705 million as compared to the $1.1 billion in the previous week. There were a total of 28 deals during the week, with 20 of them in the early-stage category.


Despite less fund inflow, the Indian startup ecosystem also saw two new unicorns this week – CarDekho and MobiKwik.

Co-founders Cardekho

Co-founders Cardekho


Key deals

Automobile classifieds platform CarDekho raised $250 million led by LeapFrog Investments, at a valuation of $1.2 billion.


Ola Electric raised about $200 million from a clutch of investors, at a valuation of $5 billion.


Neobanking platform Open raised $100 million led by Temasek. Google, SBI Investment, Tiger Global, and 3one4 Capital participated.

Other transactions

D2C brand Fraazo raised $50 million led by WestBridge Capital. Sixth Sense Ventures, Equanimity Investments, and Apar Group also participated in the round.


Reshamandi, a silk supply chain startup, raised $30 million from Creation Investments and others.


D2C jewellery brand Melorra raised $24 million led by 9Unicorns, Symphony International, Value Quest, Venture Catalysts, and others.


Toch.ai, an AI-driven SaaS platform, raised $11.75 million led by Moneta Ventures, Baring Private Equity, Binny Bansal, Ventureast, and others.


M2P Fintech, an API infrastructure startup, raised $35 million led by Tiger Global. BEENEXT, Flourish Ventures, and Omidyar Network India, among others, participated in the round.


Docprime Technologies invested around $7.5 million in telehealth and wellness platform Visit Health.


HR tech startup FloCareer raised $5.7 million from Data Point Capital, Uncorrelated Ventures, and Orios Venture Partners.


Fintech startup Niro raised $3.5 million from Elevar Equity. Kunal Shah, Bala Parthasarthy, and Nitin Gupta also participated as angel investors.


Edtech startup Creative Galileo raised $2.5 million led by Kalaari Capital Partners.


Blockchain platform Arcana Network raised $2.3 million from leading investors in the blockchain ecosystem.


Tech startup Anka SumMor raised Rs 11.6 crore led by Inflection Point Ventures (IPV). 


NFT marketplace NFTically raises under $1 million from multiple investors.


Leap.club, a professional network for women, raised $810,000 from multiple investors.


Crater, a media platform, raised $700,000 from multiple investors.


D2C brand F5 raised Rs 5 crore led by Auxano Capital and other investors.


Edtech startup Playto Labs raised over Rs 4 crore led by Inflection Point Ventures.


Fintech startup SALT raised $500,000 in angel round.


Fintech startup EarnWealth raised $500,000 in angel round.


Edtech startup Foreignadmits raised Rs 3.5 crore led by Unicorn India Ventures.


Edtech startup Wiingy raised $400,000 in angel round.


D2C brand Nap Chief raised Rs 2 crore from Titan Capital and others.


The following startups raised an undisclosed round of funding: WebEngage, Orange Retail Finance, Habanero, and CASHe.

India connect

India and US-based virtual event platform startup Hubilo raised $125 million led by Alkeon Capital.

M&A

Graphy acquired edtech platform Spayee for $25 million.


Edited by Suman Singh