Weekly Roundup: Venture Capital Investments Into Indian Startups This Week

Indian start-up ecosystem continue seeking funding from Indian as well as overseas investors

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The first week of December saw a prudent amount of investment rounds. Overall 37 startups raised funds, the highlight was slice-fintech startup turns unicorn.

slice Turns Unicorn; Raises $220 M In Series B 

The round was led by high-profile investors Tiger Global and New York-based global private equity and venture capital Insight Partners. New and existing investors including Advent International’s Sunley House Capital, Moore Strategic Ventures, Anfa, Gunosy, Blume Ventures, and 8i also participated in the round.

B2B ESDM Startup TIEA Raises $267K In Angel Round 

Founded in 2020 by Punit Joshi & Ajit PS, NIT & CET alumni, TIEA designs, develops and produce low voltage miniature electronic connectors and contact solutions. TIEA also provides its Platform as a Service (PaaS) to its B2B customers for design and development of precision engineering components. TIEA’s solutions are IP focussed, customized and economical. TIEA has 22+ potential paying customers in B2B automotive and consumer electronics segments. 

Curefit Raises $145M From Zomato, Others 

Zomato led the round in Curefit with an investment of nearly $100 million, acquiring a 6.38 percent stake in the company. Other investors which participated in the round include San Francisco headquartered South Park Commons Opportunities Fund II, Temasek, and Accel.

Klub Raises Funds From Northern Arc Capital 

After the funding, Klub is on track to scale its embedded platform offering by 20x and support digital SMEs with growth capital ranging from ₹2 lakhs to ₹30 crores.  The company recently raised $20 mn in one of the largest seed rounds in India and has grown 18x over the last year.  

Fintech Startup PayGlocal Raises $4.9M From Sequoia Capital India

This round was led by Sequoia Capital, along with investors such as BeeNext, Jitendra Gupta, and Amrish Rau.

Founded in 2021 by ex-Visa executives Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande, PayGlocal enables merchants to accept and collect payments from customers residing outside India in the currency of their choice and using their own credit and debit cards.

Arcab Raises Undisclosed Seed Round

The undisclosed round witnessed participation from other esteemed investors including –UpSparks VC, Charles & Zaim Azrak & other strategic angel investors. 

Swiggy To Invest $700M In Instamart

In the last few months, Swiggy Instamart has on-boarded more than one seller-run dark store every day. By January 2022, it will make deliveries in 15 minutes by having the network of dark stores very close to the majority of its customers. 

Microfinance.AI Raises A Pre-Seed Round Of $200k Led By WFC 

The round also witnessed participation by an array of esteemed investors including - FAAD Network, Gujarat University Start-up and Entrepreneurship Council (GUSEC), Saurabh Aggarwal, Co-founder Fitso, Ankit Prasad Founder & CEO Bobble AI, and 10+ angel investors. 

ah! Ventures Invest $32M In Instant Beverage Startup Flistaa

Flistaa is a millennials and Gen Z centric New age Indian beverage brand coming up with most loved Indian beverages like street juices, milkshakes, regional drinks, sharbats, etc. in form of instant beverages premixes in convenient sachet packaging, so that they can consume their favorite local beverages at any time without any hassle.  

Stride Ventures Leads Rs 7Cr Debt Funding Round In Neeman’s

The amount will be deployed from Stride Ventures India Fund – II and will be utilized by the young shoe brand for expanding its portfolio, intensive product development and commitment to the planet. It will also enable them into at entering newer markets and segments. 

Immensitas Private Limited Raises $2.3M In Pre-Series A1 Round

The fresh funds will be used to improve and strengthen the capabilities and features of Lemnisk, Immensitas’ product offering, and to expand into new markets.

Fello Raises $1M In Seed Round  

Other investors in the seed round included Acequia Capital, Kube VC, IUpsparks, JITO Angels, Dexter Angels, and independent investors Ashneer Groover, Co-founder, BharatPe, Bala Parthasarathy, CEO & Co-founder, MoneyTap, Faiz Mayalakkara, Director of Investments of Emirates Investment Authority and Charlie Songhurst. 

Nirmalaya Plans To Invest $1M For Global Expansion, Projects Growth Of $2M By 2022

Nirmalaya’s products other than it’s website and online marketplaces are also available through offline channels; in demographic marketplaces, such as airports and high-end boutiques around the country. Nirmalaya has been expanding at 40% month-to-month basis and will end this financial year with 300 per cent growth in revenues. In the coming financial year, the firm expects to increase by 5X. 

Y Combinator-Backed Raises Undisclosed Seed Funding

The round also saw participation from prominent angels including Kunal Shah of CRED, Arjun Sethi of Tribe Capital, Nipun Mehra of UIa, BukuWarung founders, Pramodh Rai, Prasad Matti Rao, Vaibhav Bhargava amongst others. 

CollegeDekho Bags $35 M In Series B Funding 

The USD 35 million (~INR 260 crore) round has been led by Winter Capital, ETS Strategic Capital - the private equity investments arm of ETS (creator of the TOEFL® tests and GRE® General Test), Calega and existing investor Man Capital. 

Cloud Kitchen Startup BOX8 Raises $40M   

Founded by two IIT graduates Amit Raj and Anshul Gupta, the company prepares and delivers meals and snacks using its extensive delivery fleet. EatClub Brands started out with BOX8, which is known for its all-in-one meals and Desi Box. It was an early mover in the cloud kitchen space, and was one of the first D2C brands to cross the Rs 100 crore revenue mark. 

Grip Invest Invests $2M Lease Financing Deal With Big Spoon 

Grip is also looking to facilitate a lucrative investment opportunity to its growing community of 80,000+ investors worldwide. Investors can invest as minimum as INR 20K for 24 months and expect to earn an IRR of 21%+. 

BizzTM Secures $1.2M In A Seed Round

The brand will leverage the freshly infused capital to further expand its presence in 100 new cities across Indian northern regions while adding innovative categories, onboarding cutting-edge technology, and improving existing supply chain infrastructure. 

Waffle House Raises Undisclosed Seed Funding 

The funding will enable Waffle House to embark on its journey to build the largest Direct-to-Consumer (D2C) brand in the baking and confectionery space. 

Edtech Startup NxtWave Raises $2.8M Pre-Series A Funding  

The current funding round also saw participation from Ravi Bhushan(Founder, BrightChamps), Ramakant Sharma(Founder, LivSpace), Vikram Kailas(Cofounder, Mytrah Energy), Umang Kumar(Cofounder & President, CarDekho), Chakradhar Gade(Cofounder, Country Delight), Anupam Mittal(Founder,, Vikas Malpani(Cofounder, Leher & Commonfloor), Rajesh Shawney(Founder, GSF Accelerator), Nandu Nandkishore(Professor ISB & Former Global CEO Nestlé Nutrition) and Shaji Devakar(Executive Director, IIFL Wealth) and Giridhar Malpani(Founder, Climber Capital), the statement said.  

Gruhas Proptech, Lumos To Raise Rs 500 Cr Property Fund

The joint venture Gruhas & Lumos is in the process of raising Rs. 500 cr for a real estate fund focused on structured debt, last-mile funding, and opportunist equity in real estate projects across major India cities. 

Skilling App Kidvento Raises Pre-Series A Funding Of $ 1M  

Kidvento, which provides skilling curriculum for kids through live and recorded classes, said in a statement it would utilise this fund to strengthen the content, delivery and to gain more momentum. 

Mining Player Tega Industries Raises Rs 186 Cr

Ashoka India Equity Investment Trust PLC, Goldman Sachs, Kotak Funds – India Midcap Fund, Kuber India Fund, Elara India Opportunities Fund, and BNP Paribas Arbitrage are among the investors that participated in the anchor book. 

Cloud Storage Start-Up Digiboxx Raises $1.5M In Pre-Series A Funding Round 

The company plans to use the capital proceeds for the next phase of its growth, which includes product development, penetrating deeper into current markets, scaling operations, expanding its team and strengthening its technology platform. The company will also use the investment to scale up its core engineering efforts to support customer demand. 

Mumbai Angels Network Participates In $750k Round For Eduncle

Eduncle will be utilizing the freshly infused capital to achieve its expansion objectives and to develop new product for additional exams, commence live classes, and bolster its tech infrastructure. The platform also plans on augmenting its doubt-solving features with the integration of AI and ML. 

Venture Catalysts Invests $1.2 M seed Funding In Ytrika Life Sciences

Liver failure affects about 5-10% of the global population (approximately 400-800 million people) every year, with nearly 5% of these patients suffering from acute liver failure (approximately 20-40 million people). The most successful of the existing treatment options available to the patients with this disease is liver transplant surgery. 

DCGpac.Com Raises Rs 5 Cr In Pre-Series A 

DCGpac team is led by Mr. Suresh Bansal, a serial entrepreneur with rich experience in packaging, logistics and technology domains. CXO team are IIT/ IIMs, with many years of strategy, supply chain and technology experience. 

Edtech Platform Adda247 Raises Series B Funding Of $20M

Founded by Anil Nagar and Saurabh Bansal in 2010, Adda247 offers products like live-video classes, on-demand video courses, mock tests, and books focused on government examinations. With 15 million monthly active users, the platform is one of the largest and fastest growing education technology platform in India. 

Proptech startup Raises Rs 1Cr Through Debentures 

The fresh capital will be used to grow Propdial’s local business and expansion across India. The company, which helps people manage property remotely, had raised seed funding earlier this year. A larger funding round is planned for January-March 2022 

Zappyhire Raises Rs 3.71 Cr In Seed Round Funding

The round also witnessed the participation of strategic investors such as Shihab Muhammed, Ex-Co-Founder of Freshservice (Freshdesk), Mr. Navas Meeran, Chairman, Eastern Condiments Pvt. Ltd., Dr. M. I. Sahadulla, Rajesh Nair - Associate Partner EY, Chairman & Managing Director, KIMS, and Mr. K. Paul Thomas, Founder of ESAF Group of Social Enterprises. 

Saas Platform Parablu Raises Over $ 1mn In A Pre-Series A Led By IPV

Parablu builds secure, enterprise-class data management solutions. The start-up has created a solution stack where Data Privacy is built-in, and have also forged an innovative and unique integration with Microsoft 365 and Google G-Suite that makes it easier and less expensive for enterprises to adopt their solutions. 

InstaAstro Raises ₹3.2 Crores In A Seed Round

The Noida-based startup will utilize the funds for product development, marketing and add a gamut of services like Live Astrologer session, Remedies, E-Pooja and Ecommerce etc., to its platform - helping them carve a niche in the holistic wellness segment. This is AVF's 12th investment from its recently closed ₹225 crores micro-VC fund. 

Co-Working Startup ABL Workspaces Raises Rs 15 Crore  

In a statement, ABL Workspaces said it has raised Rs 15 crore from Canada-based Ethik Inc in Series A funding round. 

Photography Workflow Management Platform Premagic Bags INR 2 Crore In Pre-Seed Funding

Founded in 2018 by Anup Mohan, Anenth Vishnu, and Mevin Chirayath as a B2B SAAS product targeting event photography, Premagic helps photographers streamline their workflow & dramatically improve the efficacy of client interactions by making curation digital. The platform also enables photographers to broadcast their brand to a large audience. 

Savart Raises $549,000 In Funding From BEENEXT and Others 

Savart presently has the backing of top Indian investors such as Ajay Batra, Executive Vice-President - Venture Fastrack, Wadhwani Foundation and Narayan Shadagopan, who between them have funded and mentored numerous startups in various industries.

 21K School Raises $5M From Ronnie Screwvala In Pre-Series A Round 

Founded in 2020 by Santosh Kumar, Yeshwanth Raj Parasmal, Dinesh Kumar and Joshi Kumar, 21K School aims to create a 100 percent online school offering children aged 3 to 18 years a choice of three curriculums – Indian, American and British. 

Jade Forest Raises $1M Funding 

The funds will be utilized towards further geographical expansion and launch into the Ready-to-drink beverage segment. 

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