[Weekly funding roundup May 30-June 3] Sharp rise in venture investments
The first week of June has begun on a positive note in terms of venture funding, with soonicorn startups giving the much-needed boost.
The month of June has started on a positive note with a sharp rise in venture investments into the Indian startup ecosystem, with soonicorns leading the pack.
The total venture funding for the first week of June stood at $326 million—cutting across 24 deals—as compared to $191 million in the comparable period of the previous week. If one takes into account the expected infusion of $300 million into
, then the total funding this week certainly exceeds expectations.The key deals during the first week of June were largely from the soonicorn startups, which were in the $50 million and below range.
However, despite June beginning on a high note, the mood still remains quite cautious and startups have started cutting costs amid the prevailing macroeconomic uncertainities.
Key transactions
Short video app ShareChat raised nearly $300 million in funding from Google, Times Group, and Temasek Holdings, Reuters reported. The deal values the company at $5 billion.
Google-backed math learning startup CueMath raised $57 million led by Alpha Wave Global at a valuation of $407 million.
D2C brand SUGAR Cosmetics raised $50 million from L Catterton, A91 Partners, Elevation Capital, and India Quotient.
Fintech unicorn Slice raised $50 million from Tiger Global, Moore Strategic Ventures, Insight Partners, and GMO VenturePartners.
Cloud kitchen startup Curefoods raised $50 million from Winter Capital, Three State Capital, Chiratae Ventures, Accel, Iron Pillar, and others.
Fintech startup StrideOne raised Rs 250 crore (over $32 million) in a mix of equity and debt led by Elevar Equity.
Healthcare startup Orange Health raised $25 million from Bertelsmann India, General Catalyst, Accel, Y Combinator, Good Capital, and others.
Alternative data platform for investors Synaptic raised $20 million in a Series B round of funding led by Valor Equity Partners.
Live video streaming platform Eloelo raised $13 million from KB Investments, Kalaari Capital, WaterBridge Ventures, and Lumikai Fund.
Spacetech startup Bellatrix Aerospace raised $8 million from BASF Venture Capital, Inflexor Ventures, StartupXseed, Pavestone Capital, and others.
Agritech startup Nutrifresh raised $5 million from a group of angel investors—Theodore Cleary, Sandiip Bhammer, Sky Kurtz, Mathew Cyriac, and others.
Edited by Kanishk Singh