[Weekly funding roundup August 1-5] No major uptick in venture capital inflow
The funding winter has set in for the Indian startup ecosystem, and the month of August continues on the trends seen in July.
The needle of venture funding into Indian startups has not moved significantly at the start of August, and continues to remain subdued due to a slowdown in the capital inflow.
The first week of August saw total funding of $111 million cutting across 22 deals. In comparison, the previous week witnessed a total inflow of $80 million.
The present venture funding inflow is on expected lines as investors slow down the deal momentum given the macroeconomic conditions. It is likely that the funding drought would continue for at least a couple of months more.
In such an environment, early-stage startups are most likely to dominate funding inflow.
Wealth management platform dezerv. raised $20.7 million from Accel Partners, Elevation Capital, Matrix Partners, Whiteboard Capital, and GTM Ventures.
Tech startup WebEngage raised $20 million from Singularity Growth Opportunities Fund, SWC Global, India Quotient, and Blume Ventures.
Fintech startup TWID raised $12 million from Rakuten Capital, Google, ICMG Partners, JAFCO Asia, January Capital, and Reddy Futures Fund.
EV startup River raised $11 million from Lowercarbon Capital and Toyota Ventures.
Fintech startup Jify raised $10 million from Accel and Nexus Venture Partners.
Fintech startup Credit Fair raised $10 million from LC Nueva Investment Partners, Sattva Family Office, and angel investors.
B2C startup Farmley raised $6 million from DSG Consumer Partners, Alkemi Growth Capital, Omnivore, Insitor Partners, and other angel investors.
Fintech startup CredAble raised $7 million by divesting 5 percent of its stake to Axis Bank.
Edited by Kanishk Singh