[Weekly Funding Roundup] Venture investments dip among Indian startups due to absence of large deals
In the third week of February, venture funding into Indian startups remained under $500 million as compared to nearly $1.5 billion in the previous week.
The third week of February saw a decline in venture capital funding into Indian startups. However, the momentum remained strong with large corporates investing in unicorn-bound startups.
In the week, Indian startups raised a total of $410 million in funding, as compared to $1.46 billion raised in the previous week, driven largely by unicorns.
This week, India and US-based conversation AI startup Uniphore, now valued at $2.5 billion, entered the billion-dollar unicorn club, after raising a $400 million funding round. ElasticRun formally announced that it too has turned into a unicorn.
A total of 29 transactions were recorded during the week, and an overwhelming number of deals were in the early-stage category.
Transactions of the week
Glance, the smartphone lock screen platform and part of InMobi Group, raised $200 million from Jio Platforms in a Series D round of funding.
Healthtech startup GOQii raised $50 million in a Series C round from Sumeru Ventures, Modality, Blacksoil Capital, Trifecta Capital, 9Unicorns, and Venture Catalysts, among others.
Social commerce startup DealShare raised $45 million from the subsidiary of Abu Dhabi Investment Authority (ADIA).
Propelld, a fintech startup, raised $35 million from WestBridge Capital, Stellaris Venture Partners, and India Quotient.
Fintech startup RapiPay raised $15 million from individuals belonging to various family offices.
Healthtech startup Kenko Health raised $12 million from Sequoia Capital India, Beenext, Orios, 9Unicorns, and Waveform Ventures.
D2C startup Join Ventures raised $10 million from DSG Consumer Partners, Rajiv Dadlani Group, 9Unicorns, and Venture Catalysts.
Agritech startup Agrim Wholesale raised $10 million from Kalaari Capital, Omnivore, India Quotient, Accion Venture Lab, and Axis Bank.
Edtech startup Entri raised $7 million from Omidyar Network India, Innospark Ventures, and Integrated Capital.
Proactive For Her, a women-focused healthcare startup, raised $5.5 million from Vertex Ventures and Nexus Venture Partners.
SaaS startup Actyv.ai raised $5 million from 1Digi Investment.
Edited by Suman Singh