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From smallcase To Lendingkart — Indian Startups Raised $144 Mn This Week
- The last week of March witnessed significant investment activity in the Indian startup ecosystem with startups netting a total of $143.7 million, 32% more than the previous week.
- A total of 16 funding deals took place, with fintech dominating the funding trends by raising $98.1 million across five startups.
- Key highlights include smallcase securing $50 million in a Series D round and Lendingkart raising $29.5 million in a Series E round led by Fullerton Financial Holdings.
- Other notable funding rounds included Abound, Outplay, Grow Indigo, Dozee, and Firefly Diamonds among others.
- The funding trends also saw active participation from investors like ah! Ventures, Accel, SenseAI Ventures, and more, with four startups at the seed stage securing $18.6 million this week.
- In terms of acquisitions, Observe.AI acquired Dubdub.ai, JungleWorks acquired Outplay, and Groyyo bought a stake in Oussum Inc.
- SEBI kept WeWork India's IPO papers temporarily on hold, while Meesho, Cult.fit, and other startups made progress towards their respective IPOs.
- Other key developments included 2am VC2 launching its second fund, Pluckk aiming to raise $10 million in Series A, and KRAFTON's India arm increasing its shareholding in Nautilus Mobile.
- Several funding activities were also announced, with Apna Mart set to raise $25 million, Country Delight raising $25 million, and Groww in talks to secure $200 million at a valuation of $6.5 billion before its IPO.
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