Weekly Funding Roundup for June First Week [30 May - 04 June]

Weekly Funding Roundup for June First Week [30 May - 04 June]

The first week of June saw 33 Indian startup businesses securing finance, with 28 receiving around $525.81 million. MoEngage and Cuemath raised the most, a total of $134 million, $77 million, and $57 million, respectively. 

 

Despite June starting positively, the startups are watchful of the prevailing macroeconomic uncertainties.

 

Growth/Late-Stage Deals

 

Among the 9 growth and late-stage startups that have secured funds, MoEngage’s $77 million round and Cuemath’s $57 million round topped the charts, followed by Fintech startup Slice, DC2 beauty brand Sugar Cosmetics and cloud kitchen brand Curefoods raking in $50 million each.

 

Sr. No.

Startup Name

Segment

Amount Raised (In Mn $)

Series

Valuation [on round]

Lead Investor/s

Investors Participated

1

Moengage

SaaS

77

Series E

Undisclosed

Goldman Sachs Asset Management and B Capital

Steadview, Multiples Alternate, Eight Roads and Matrix Partners

2

Cuemath

Edtech

57

Undisclosed

Undisclosed

Alpha Wave

N/A

3

SUGAR Cosmetics

D2C beauty

50

Series D

$500 Mn

Asia fund of L Catterton

A91 Partners, Elevation Capital and India Quotient

4

Slice

Fintech

50

Series C

Undisclosed

Tiger Global

Moore Strategic Ventures and Insight Partners

5

Curefoods

Cloud kitchen

50

Series C

$390-395 Mn

Crimson Winter

Iron Pillar, Accel, Chiratte, Three State capital and Sixteen Street

6

StrideOne

Fintech

32

Undisclosed

Undisclosed

Elevar Equity

N/A

7

Orange Health

Healthtech

25

Series B

Undisclosed

Bertelsmann India Investments and General Catalyst

Accel, Y Combinator, Good Capital, and Uncorrelated Ventures

8

Synaptic

Enterprisetech

20

Series B

Undisclosed

Valor Equity Partners.

N/A

9

Neeman’s

D2C footwear

5.15

Series B

$25-27 Mn

Sixth Sense Ventures

N/A

   

TOTAL

366.15

       

 

Early-Stage Deals

 

19 startups have successfully raised funds in the early-stage agreements, including five undisclosed rounds. Eloelo, a gaming startup, topped the list with a $13 million round. Aerospace startup Bellatrix Aerospace and Agritech startup Nutrifresh are also on the list.

Sr. No.

Startup Name

Segment

Amount Raised (In Mn $)

Series

Valuation on the first round

Lead Investor/s

1

Eloelo

Gaming

13

Series A

 

Lumikai Fund

2

Bellatrix Aerospace

Aerospace

8

Series A

 

BASF Venture Capital GmbH

3

Nutrifresh

Agritech

5

pre-Series seed

 

Theodore Cleary (Archer Investments), Sandiip Bhammer (Green Frontier Capital), Sky Kurtz (Pure Harvest AE) and Mathew Cyriac (Florintree Advisors and ex-Blackstone India)

4

Liminal

Crypto

4.7

Seed

 

Elevation Capital .

5

GoSats

Crypto

4

pre-Series A

 

Y Combinator, Accel, Gossamer Capital, KubeVC, 2 am VC, Valhalla Capital, Soma Capital, Trampoline Venture Partners, Dragon Capital, Leonis VC, DG Daiwa Ventures, C2 Ventures, Stonks.com, Draper Dragon

6

Hesa

Ruraltech

2.3

pre-Series A

 

Venture Catalysts

7

Pumpumpum

Used car leasing

2

Undisclosed

 

LC Nueva Investment Partners; Founders Room Capital; LetsVenture; Manish Agarwal

8

Dvara E-Dairy

Fintech

2

pre-Series A

 

Axilor and Dvara Venture Studio

9

Fitelo

Healthech

1.5

pre-Series A

 

Guild Capital

10

ZFW Dark Stores

D2C

1.2

Seed

 

Riso Capital, SEA Fund, Lead Fund

11

Revidd.com

SaaS

1.1

Seed

 

Inovnis SA and CIIE.CO

12

Vendakin Technologies

SaaS

1.09

pre-Series A

 

Better Capital

13

Revamp Moto

EV

1

pre-seed

 

Veda VC and Venture Catalysts

14

Decimal

Fintech

1

pre-seed

 

Unnati Labs, Agility Ventures, and MyAsia VC

15

Homi Lab

Edtech

0.64

pre-Series A

 

Inflection Point Ventures

16

Zorp

Enterprise Tech

0.6

pre-Seed

 

Good Capital , Better Capital, and Bharat Founders Fund

17

DocPlix

Healthech

0.19

Seed

 

Vishal Sharma, Pankaj Pandey, Uttam Kumar, Gurpreet Singh

18

Kandee Factory

D2C

0.19

Undisclosed

 

Ah! Ventures Angel Platform, Keiretsu, and the Polaris family office fund

19

Indeanta

EV

0.15

Bridge

 

IvyGrowth Associates

   

TOTAL

49.66

     

 Undisclosed deals   

Unotag, Glovatrix, Kwicpic, Offee, and EzeRx did not make public their financial details.

Sr. No.

Startup Name

Segment

Lead Investor/s

Headquarter

Founders

1

Unotag

Employee retention

JITO Incubation and Innovation Foundation and JITO Youth Wing

Bengaluru

Mohit Ambani

2

Glovatrix

Wearable tech

JITO Incubation and Innovation Foundation and JITO Youth Wing

Pune

Aishwarya Karnataki

3

Kwicpic

Photo sharing

JITO Incubation and Innovation Foundation and JITO Youth Wing

Mumbai

Deep Karkhanis

4

Offee

Edtech

JITO Incubation and Innovation Foundation and JITO Youth Wing

Mumbai

Amit Shah

5

EzeRx

Healthtech

Sheetal Arora

Bhubaneswar

Partha, Chaitali Roy and Sudip Roy Chowdhury

City and segment-wise fundings 

Fintrackr's data indicates that Bengaluru topped the charts, with 14 Bengaluru-based startups raising funds adding up to $173.27 million, which is 28.71 % of the total funding. Delhi-NCR and Mumbai-based startups weren't far behind on the line, raising $184.83 million and $225.43 million across 9 and 8 deals, respectively. Fintech startups were the top segment in terms of the number of deals, as startups in this space raised $329.39 million across 8 deals. Edtech, D2C, AI, SaaS, and e-commerce startups followed them.

 

Acquisitions this week

 

Apart from more than 30 fundraising rounds, there were three notable acquisitions too. The list includes the acquisition of data science startup Prakshep by Arya.ag, OneDirect by Gupshup, and Verb Studio by Kafqa Academy.

Acquired by

Segment

Acquisition-Type

Startup/Company

Segment

Deal Size($Mn)

Arya.ag

Agritech

Acquired

Prakshep

Data Science

Undisclosed

Gupshup

Conversational Messaging

Acquired

OneDirect

Customer Service

Undisclosed

Kafqa Academy

Edtech

Acquired

Verb Studio

Online Dance Academy

Undisclosed

 

ShareChat receives funding of $300 million.

Short video app ShareChat raised nearly $300 million in funding from Google, Times Group, and Singapore’s Temasek Holdings. Having backed Josh, a competitor in the short-video genre of applications, ShareChat securing Google’s second investment in this field highlights the potential in this genre of short videos.

While, Mohalla Tech, ShareChat's parent company, along with Google and Temasek, forbade commenting on anything. 

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