India’s startup ecosystem got a good boost of funding last week as venture capital institutions and various marquee investors provided capital to startups at early stages of development.
Marquee investment groups such as Sequoia Capital, Accel and Matrix have infused large amounts of capital into Indian startups in the past week.
In the year In the second week of January 2023, India’s startup ecosystem raised a total of $217 million in funding. Although the total funding was less than $251 million in the first week of January, the trend is more or less the same. It should also be noted that most of the capital from the first week came from a single capital of 100 million dollars.
Bangalore-based hyper-local delivery startup Dunzo is reportedly in talks to raise $100 million through a convertible notes issue. Dunzo is a startup backed by Ambani-owned Reliance Retail.
In the second week of January, early-stage startups continued to attract more interest among investors. This is the pattern seen in the Indian startup ecosystem from mid-2022. With the absence of large-scale funding deals, investors are showing a reluctance to commit capital to established ventures or tech-based startups.
Major financial aid offers
Wakefit.co – This direct-to-consumer furniture e-commerce startup has raised $40 million in funding led by Bahrain-based Investcorp. Investment bodies like Sequoia Capital India, Verlinvest and SIG are also part of the support.
Founded in 2016 by Ankit Garg and Chaitanya Ramalingowda, Wakefit offers innovative affordable sleeping solutions and furniture to customers.
Leader – Mumbai, Maharashtra became a unicorn startup in India in the latest round of debt financing led by Stride Ventures. The funding saw participation from other investors such as Altria Capital, Standard Chartered Bank, HDFC Bank and ICICI Bank.
Willcart – Bengaluru-based B2B Tech Startup has raised $18 million in series funding led by Asia Impact SA. Investment entities such as Nabventures Fund and Texterity Private Limited participated in Vilcart’s funding round.
teenager – The edtech startup has raised $17 million from Sequoia Capital India, Tenacity Ventures, Trifeca Capital, Matrix Partners, Binnext and Better Capital.
Park+ – A Gurugram-based super app for car owners, has raised $17 million ($140 million) from Epic Capital, Matrix Partners India and Sequoia Capital India.
