The last week of August observed equity investments attaining $161 million (1). It was a 130% rise compared to $70 million in the previous week. The $122 million fund infusion mainly heightened this growth into BYJU’s. The edtech startup remains to garner new investment despite the COVID-19 pandemic situation.
Since the mid-week of July, equity investments had dropped significantly below 100 million USD weekly. Notably, the total assets stood at 9 million USD in the first week of August. It was conceivably the most profound for the Indian startup ecosystem.
The equity investments in Indian startups for the last week of August were across 20 deals. It has been the course ever since the COVID-19 pandemic started where most of the funding has been into early-stage deals.
Equity Investments Funding Deals of the Week
Early-stage funding has 17 deals with growth stage accounting for two and one in the late stage. There were no debt funding deals during the week. The edtech startup BYJU’s rasing about 122 million USD has been the week’s highlight. As per the regulatory documents, the funding was secured from DST Global led by billionaire Yuri Milner.
Some of the other deals include Verloop.io, which is a Bengaluru-based tech startup. It focuses on customer support automation. As part of iVerrloop.io Series A round of funding, the startup has raised 5 million USD, led by led by Alpha Wave Incubation. Delhi-based Gamezop has raised 4.3 million USD in series A funding round. It was led by Series BITKRAFT Ventures, Velo Partners, and FJ Labs. TrueFan, in a seed funding round, raised 4.3 million USD from prominent investors such as Ronnie Screwvala, Saama Capital, and Mayfield India.
Additionally, Virohan has also raised 2.8 million USD in multiple rounds of fundings. The funding rounds were led by Keiretsu Forum and Elea foundation. It also includes Singh Family Trusts, along with National Skill Development Corporation. Baazi Games has raised 2 million USD in its seed round of fundings from its existing investor Udtara Ventures.