After approximately two weeks of low fund infusion, a sudden uptick for the upcoming Indian startups presented itself. The investments and funding for these startups have nearly doubled. Byju’s, the education platform, received special recognition from a Silicon Valley-based investor.
The last week of June witnessed an approximately $60 million increase in the funding. The Indian startup companies heaved a sigh of relief as the funding skyrocketed suddenly.
This last week miraculously saw approximately eleven deals that resulted in funding. Due to the pandemic, not many startups received finance and investment. Hence, this was a magical week for all the Indian startups.
Key deal:
A Gurugram-based financial tech, Aye Finance (1), raised approximately ₹210 Crore in their Series E funding round. This was led by CapitalG, Alphabet’s independent growth fund. The round also included one of Aye’s previous investors, LGT Lightstore, and Falcon Edge Capital.
Other noticeable deals:
- Fullife Healthcare (2), a startup that sells nutrition supplements for athletes through a brand allied Fast&Up, raised approximately ₹50 Crore in a funding round led by Amansa Capital, A Singapore-based company. Existing investors of Fulllife Healthcare, including JhunJhunwala and Sixth Sense Ventures, also participated.
- Slice (3), A Bengaluru-based credit startup company, raised approximately ₹46 Crore In a Pre-Series B round led by the Japan investor, Gunosy, and Kunal Shah, the owner of CRED.
- Goa-based coworking space provider, 91springboard (4), raised approximately ₹45 Crore. This company was founded in 2012. 91springboards investors are Zomato, OLX, Tata Sky, and many more.
- Matrix Partners invested $5 million in a Series A funding round in the plant-based nutrition startup, OZiva (5). Titan Capital also took part in the investment round.
- Bengaluru-based last-mile Micro-mobility platform, Yulu (6) also raised a funding of approximately ₹30 Crore led by US-based VC firm, Rocketship. Some of the existing investors also took part in the rinsing rounds.
- The Noda-based global online corporate deal, MergerDomo (7), raised a seed funding of ₹50 lakh led by seven individual investors since September 2019. This startup also secured funding of ₹1 Crore from Nadir Godrej, the MD of Godrej industries.
