[Weekly funding roundup Dec 13-19] MoEngage provides boost to VC inflow

The third week of December saw a sharp rise in venture capital funding into Indian startups, driven by the Series F funding round of MoEngage, as well as an increase in the number of deals.

The total funding for the week stood at $363 million across 29 deals, compared to $131 million in the previous week across 16 deals. Further, MoEngage's Series F funding round, worth $180 million, provided the lift.

Surprisingly, the funding amount crossed $350 million in the third week of December, which mostly sees fewer funding activities. During this week, startups from sectors, including SaaS, spacetech, D2C, and electric vehicles, raised funding.

As the year comes to a close, it is unlikely that venture funding for 2025 will overtake the numbers of 2024. The hope lies in 2026 being a better year.

Key transactions

Customer engagement platform MoEngage raised $180 million in a Series F round from ChrysCapital, Dragon Funds, Schroders Capital, TR Capital, and B Capital.

Spacetech startup Digantara raised a Series B round worth $50 million from 360 ONE Asset, SBI Investments, Ronnie Screwvala, Peak XV Partners, and Kalaari Capital.

D2C startup Moxie raised $15 million from Bessemer Venture Partners, Fireside Ventures, and angel investors.

EV startup Qucev raised Rs 131.3 crore (about $14.5 million) in Series B funding from Singularity AMC, Lotus Family Trust, Param Capital, Volrado Venture Partners, and Anchorage Capital.

Fintech startup StockGro raised $13 million from BITKRAFT Ventures as part of its Series B1 funding round.

HR tech startup WorkIndia raised Rs 97 crore (about $10.7 million) in a Series B round from Aavishkaar Capital and BEENEXT Capital.

Tech startup Tagbin raised $10 million from SageOne Flagship Growth OE Fund and angel investors.

EV startup Oben Electric raised Rs 85 crore (about $9.5 million) from US-based family offices in a pre-Series B round.

Healthcare education startup Virohan raised Rs 65 crore (about $7.5 million) as part of its ongoing Series B round from Mynavi Corporation, Blume Ventures, Bharat Inclusive Technologies Seed Fund, and Rebright Partners.

Defence tech startup Sisir Radar raised $7 million in a Series A round from 360 ONE Asset and Shastra VC.

Apparel startup Underneat raised $6 million from Fireside Ventures and Mamaearth co-founder Ghazal Alagh in a pre-Series A round.

Food brand startup Alimento Agro Foods raised Rs 52 crore (about $5.76 million) led by IvyCap Ventures in a Series A funding round.