[Weekly funding roundup Aug 8-12] upGrad funding provides momentum

The venture capital inflow into Indian startups continues to remain slow. upGrad's $210 million fundraise came as a surprise.
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A single funding deal lifted the spirits in the Indian startup ecosystem this week.

The second week of August witnessed a total funding amount of $298 million across 19 deals as compared to $111 million raised in the previous week. The big boost for the funding volume primarily came from the $210 million funding in edtech startup upGrad.

Besides, the amount raised by upGrad the rest of the capital inflow was on the expected trends where venture capital was flowing into early-stage deals.

Ronnie Screwvala, Co-founder and Chairman, upGrad

The present trend of lowered venture capital inflow into Indian startups is likely to continue for a couple of months given the macroeconomic conditions.

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Edtech unicorn upGrad raised $210 million from ETS Global, Bodhi Tree, Singapore's Kaizen Management Advisors and family offices.

SaaS startup SquadStack raised Rs 140 crore from Bertelsmann India Investments, Chiratae Ventures and Blume Ventures.

Fintech startup Jodo raised $15 million from Tiger Global, Elevation Capital and Matrix Partners India.

Eyewear brand Lenskart raised $12.57 million from Ravi Modi Family Trust as part of its ongoing funding round.

Cloud kitchen startup BigSpoon raised Rs 100 crore from IAN, NB Ventures, Go-Ventures, Lets Venture, Grip Invest, and Anicut Capital.

Gaming platform startup Lysto raised $12 million from Square Peg, BEENEXT, Hashed, Tiger Global, Better Capital and angel investors.

Biotech startup Eyestem raised $6.4 million from Biological E, Alkem, NATCO, and Anurag and Karan Bagaria, promoters of Kemwell Biopharma.

Edited by Affirunisa Kankudti

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