Weekly Indian Startups Funding -raised $329.4M August(12-17/2019)

Indian startups funding -2nd week August 2019
Indian startups funding – August 12-17/2019

By 17 deals Indian startups raised funding $329.4 million in this week by different funding rounds.

  • This week’s fundraising is led by Facebook-backed Meesho raised $125M in Series D.
  • ShareChat, a Bengaluru based regional language social platform, raised $100 million in Series D

In the previous week, total of 18 startups raised $221.27 million in funding.

Top 4 deals of the week

Meesho: A Bengaluru- based startup and a social commerce platform raised Series D funding of $125 million in a round led by Naspers Ventures.

Meesho is an online reseller network of housewives and SMBs, who sell products within their network on social channels.

Exiting investors in the startups are Facebook, SAIF, Sequoia, Shunwei Capital, RPS and Venture Highway, along with Former Vodafone Group CEO Arun Sarin. Meesho has raised a total of $215.2M in funding over 8 rounds. Their latest funding was raised on Aug 12, 2019 from a Series D round. Meesho is funded by 22 investors. 

CARS24: Gurugram-based used car buying and selling platform provider CARS24 made a strategic partnership with former captain of the Indian national team Mahendra Singh Dhoni in Series D funding round. Dhoni will own equity in the startup and participate in marketing. Dhoni is now a brand ambassador of the startup. CARS24 has raised a total of $61M in funding over 2 rounds. Their latest funding was raised on Apr 4, 2019 from a Series D round.

Earlier in June 2018 startup raised $50 from KCK, Kingsway Capital, MPGI, Sequoia Capital India in Series C funding round. CARS24 is funded by 15 investors. Mahendra Singh Dhoni and KCK are the most recent investors in the startup.

Uniphore: Palo Alto and Mumbai-based startup Uniphore is a customer service platform that is powered by AI and automation technologies raised $51 million in Series C funding led by March Capital Partners.

Uniphore has raised a total of $66.8M in funding over 6 rounds funded by 14 investors. Their latest funding was raised on Aug 13, 2019 from a Series C round. Other investors are Chiratae Ventures, Sistema Asia, CXO Fund, ITP, Iron Pillar, Patni Family, plus other investors.

ShareChat: A Bengaluru-based a regional language social platform startup raised $100 million in Series D funding round led by Twitter. This is the 2nd largest deal of the week.

ShareChat has raised a total of $222.8M in funding over 8 rounds from 12 investors. Their latest funding was raised on Aug 15, 2019 from a Series D round. Earlier in September 2018 startup raised $99.5 million in Series C funding round led by Shunwei Capital. Existing investors who participated in this round include Shunwei Capital, Lightspeed Venture Partners, SAIF Capital, India Quotient, and Morningside Venture Capital

Early-stage deals in Indian startups

Emotix: Robotics, AI & IoT startup Emotix, which develops educational and recreational robot toys for children, raised $7.5 million (Rs. 53.42 Cr) Series A funding round led by Chiratae Ventures and YourNest Venture Capital. Emotix too is known as Miko has raised a total of $9.5M in funding over 2 rounds funded by 4 investors. Their latest funding was raised on Aug 13, 2019 from a Series A round.

Doxper: A Mumbai-based healthcare startup Doxper raised $4 million in Series A funding round led by Alkemi Venture Partners. Doxper has raised a total of $5.9M in funding over 3 rounds funded by 6 investors.

Clicbrics: A Delhi-NCR based real estate marketplace startup Clicbrics raised $3 million in a Pre-Series A funding round led by Manny Singh of Kavi Fund; Peter Mann, Fund Manager at Gluskin Sheff and other investors.

Blu Smart: A Delhi-based electric mobility startup Blu Smart raised $2.2 million in seed funding led by Jito Angel Network and other investors include Hero Motocorp, MayField Fund and Centrum, Micromax and few individual investors among others. This fund is utilized to expand business in other parts of the country outside Delhi-NCR.

Orbo.ai: Mumbai-based artificial intelligence (AI) powered imaging and visual enhancement startup raised $1.6 million Pre-Series A round of funding, led by YourNest Venture Capital and Venture Catalysts. Orbo.ai has raised a total of $1.6M in funding over 3 rounds from 9 investors.

Parentof: Bengaluru-based parent-tech  AI startup raised $1 million as a part of seed funding, led by angel investors V Srinivas and other existing investors. ParentOf has raised a total of $2M in funding over 4 rounds. Their latest funding was raised on Aug 14, 2019 from a Seed round.

Tjori: An online marketplace startup of unique designs which include apparel, jewelry, footwear, accessories, home & decor, wellness raised $700,000 in a Pre-Series A funding round. Tjori is funded by 2 investors. McKinsey & Company and 23 High Networth Individuals (HNIs) are the most recent investors.

SprintAI: SprintAI is an Enterprise AI startup, raised $500,000 seed round of funding led 7 angel investors including CS Suryanarayanan and Piyush Shah.

Rupeek: Bengaluru-based finTech startup (Gold loans enabler) Rupeek raised a $30 million a funding round led by Bertelsmann India along with the participation of other existing investors Accel and Sequoia India. 

Lendingkart: Ahmedabad-based finTech startup raised a fresh equity round of $2.95 million from Sistema Asia Fund (SAF).Lendingkart has raised a total of $200.4M in funding over 10 rounds funded by 14 investors. Last week company raised $30 million from existing investor including Fullerton Financial Holdings Pte Ltd (“FFH”), Bertelsmann India Investments and India Quotient.

Undisclosed Seed funding of Indian startups

  • LQI, a Gurugram-based beverage startup raised Undisclosed Amount of fund by from singer turned angel investor Sukhbir Singh.
  • GetNatty, a Vadodara-based startup raised an undisclosed amount of funding. GetNatty provide a marketplace for young fashion designers to showcase their collection
  • Faircent:  P2P lending platform startup raised an undisclosed amount of capital in a funding round led by Singapore-based Das Capital and Gunosy Capital. Faircent has raised a total of $9.8M in funding over 8 rounds. Their latest funding was raised on Aug 13, 2019 from a Series C round funded by total 13 investors

Acquisitions of Indian startups

  • Pikup.ai: A Bengaluru-based artificial intelligence startup acquired by Indian cab aggregator Ola.
  • Yudiz Solutions: Kolkata-based Ability Games acquired an undisclosed stake in Ahmedabad-based IT company Yudiz Solutions.
  • UnCube : Bengaluru-headquartered coworking space provider CoWrks acquired The UnCube for an undisclosed amount.
  • Tesseract: Reliance acquired a majority position in A Mumbai-based VR startup Tesseract.
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