While venture financing had taken a hit in 2020, amid the COVID-19 pandemic and the subsequent lockdowns, there are very positive signs of things returning to pre-pandemic normalcy at the beginning of 2021. Here, is the list of funding in Indian startups with the start of 2021.
In addition, the Indian startup ecosystem welcomed its first unicorn of the year, Digit Insurance, founded in 2016 estimated at $ 1.9 billion after its new fundraise.
Major Deals
- In the Series A funding round led by Ribbit Capital and San-Francisco-based crypto-focused investment company Paradigm, CoinSwitch Kuber, a cryptocurrency investment platform, owned and operated by Bitcipher Labs LLP, has raised $15 million. Current investors Sequoia Capital India and CRED founder Kunal Shah also participated in the round.
- Zupee a Skill-based mobile gaming platform established in 2019, has raised $10 million in additional capital led by WestCap Group. Also participating in the round was current investor Matrix Partners India.
Other Deals
KIWI — Delhi-based global TaaS platform — on Friday said it has raised $2,50,000 in seed funding from PointOne Capital, Core91 VC, AppyHigh, and other angel investors.
Knocksense, a local content development startup based in Lucknow founded in 2016, said it raised $200,000 in an angel round of funding.
Mumbai-based AI-powered investment advisor Wright Research said it has raised undisclosed pre-seed funds from BSE Institute Limited Ryerson Technology Startup Incubation Foundation (BRTSIF), under the Government of India NIDHI Seed Support System.
Ergos an agritech startup announced it has received Rs 22.5 crore ($3 million) from the UK’s CDC Group as the closure to its Series-A round, which constituted Rs 81 crore ($11 million).
Chalo, a Mumbai-based public transport technology startup, on Wednesday announced that it raised $7 million in its latest round of funding. With this latest round, Chalo has raised a total of $30 million to date.
SSA Finserv a small businesses-focused non-banking lender has raised $3 million (around Rs 21 crore) from Blue Ashva Capital. The funding, made through Blue Ashva Sampada Fund, will be used to expand lending from top cities to small towns, the NBFC said in a statement.
Karkhana.io, a B2B on-demand manufacturing platform has raised a seed round of $1.5 million led by Vertex Ventures Southeast Asia & India. It also saw participation from several angel investors. This startup founded in 2018 aims to digitize and streamline the manufacturing industry.
PurpleTutor based out in Mumbai an ed-tech startup has raised seed funding of about $300,000 led by IvyCap Ventures. The round saw participation from other investors, including Krishna Kumar (Founder and CEO – Simplilearn).
Siply, established in July 2020 a Bengaluru based tech-enabled micro-savings application, announced it has raised $1 million in a seed round led by Inflection Point Ventures — one of India’s active angel network.
True Elements a Pune-based food brand announced it has recently closed a funding round of Rs. 10 Crores from Maharashtra State Social Venture Fund (MSSVF), a fund managed by SIDBI VC.
ReadyAssist, a service, and an on-demand automobile repair startup raised $1 million in a seed round from a group of angel investors in two shares.
Biconomy, established in December 2020, a blockchain transaction platform has raised a seed funding of $1.5 million led by research-led European VC Eden Block.
Debt Financing
BhartPe a fintech startup established in March 2018, raised a total of Rs. 139 crores of debt capital in this round. Where, around Rs. 90 crore of venture debt by Alteria Capital and Rs. 49 crores from ICICI bank.
Sumunnati a Chennai-based Agri value chain enabler, raised Rs. 89.6 crores in debt from FMO — Entrepreneurial Development Bank and Triodos Fair Share Fund and Triodos Microfinance Funds — two financial inclusion funds managed by Triodos Investment Management (Triodos IM).
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