[Weekly funding roundup] Indian startups report $705M venture investments in the third week of October

The venture funding momentum for the third week of October decreased as compared to the previous two weeks, where Indian startups reported over $1 billion of capital infusion, largely due to the absence of large deals.

The third week of October saw venture capital funding to the tune of $705 million as compared to the $1.1 billion in the previous week. There were a total of 28 deals during the week, with 20 of them in the early-stage category.

Despite less fund inflow, the Indian startup ecosystem also saw two new unicorns this week – CarDekho and Mobikwik.

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Key deals

Automobile classifieds platform CarDekho raised $250 million led by LeapFrog Investments, at a valuation of $1.2 billion.

Ola Electric raised about $200 million from a clutch of investors, at a valuation of $5 billion.

Neobanking platform Open raised $100 million led by Temasek. Google, SBI Investment, Tiger Global, and 3one4 Capital participated.

Other transactions

D2C brand Fraazo raised $50 million led by WestBridge Capital. Sixth Sense Ventures, Equanimity Investments, and Apar Group also participated in the round.

Reshamandi, a silk supply chain startup, raised $30 million from Creation Investments and others.

D2C jewellery brand Melorra raised $24 million led by 9Unicorns, Symphony International, Value Quest, Venture Catalysts, and others.

Toch.ai, an AI-driven SaaS platform, raised $11.75 million led by Moneta Ventures, Baring Private Equity, Binny Bansal, Ventureast, and others.

M2P Fintech, an API infrastructure startup, raised $35 million led by Tiger Global. BEENEXT, Flourish Ventures, and Omidyar Network India, among others, participated in the round.

Docprime Technologies invested around $7.5 million in telehealth and wellness platform Visit Health.

HR tech startup FloCareer raised $5.7 million from Data Point Capital, Uncorrelated Ventures, and Orios Venture Partners.

Fintech startup Niro raised $3.5 million from Elevar Equity. Kunal Shah, Bala Parthasarthy, and Nitin Gupta also participated as angel investors.

Edtech startup Creative Galileo raised $2.5 million led by Kalaari Capital Partners.

Blockchain platform Arcana Network raised $2.3 million from leading investors in the blockchain ecosystem.

Tech startup Anka SumMor raised Rs 11.6 crore led by Inflection Point Ventures (IPV). 

NFT marketplace NFTically raises under $1 million from multiple investors.

Leap.club, a professional network for women, raised $810,000 from multiple investors.

Crater, a media platform, raised $700,000 from multiple investors.

D2C brand F5 raised Rs 5 crore led by Auxano Capital and other investors.

Edtech startup Playto Labs raised over Rs 4 crore led by Inflection Point Ventures.

Fintech startup SALT raised $500,000 in angel round.

Fintech startup EarnWealth raised $500,000 in angel round.

Edtech startup Foreignadmits raised Rs 3.5 crore led by Unicorn India Ventures.

Edtech startup Wiingy raised $400,000 in angel round.

D2C brand Nap Chief raised Rs 2 crore from Titan Capital and others.

The following startups raised an undisclosed round of funding: WebEngage, Orange Retail Finance, Habanero, and CASHe.

India connect

India and US-based virtual event platform startup Hubilo raised $125 million led by Alkeon Capital.

M&A

Graphy acquired edtech platform Spayee for $25 million.