In the 2nd week of October-19, Indian startups raised a total of $101.85 million funding by 10 disclosed deals, while 6 funding deals remain undisclosed.
Last week, Indian startups raised a total of $636 million from investors.
A total of $101.85 million funds raised in total 16 deals by Indian startups.
This week is led by Jaipur-based NBFC Kogta Financial, which raised $42.25 million funding in Series C round, online jewellery fashion brand Melorra also raised $12 million in Series C round.
Ai-based job platform Vahan.ai, location intelligence startup GeoIQ, healthtech startup NeuroLeap, winter apparel startup Kosha, Rural e-commerce startup Boonbox, and foodtech startup Sattuz raised an undisclosed amount of funding.
List of 10 Indian startups raised funding in disclosed deals
Kogta Financial: A Jaipur-Rajasthan -based NBFC Kogta Financial, raised $42.25 million in Series C round of funding from Creador IV LP and Morgan Stanley Private Equity. A late-stage venture is established in 1996, operates in western India. With this deal company raised a total of Rs 4.5 billion in 3 rounds of funding from 4 investors, other investors are IIFL Seed Ventures and Morgan Stanley Expansion Capital. NBFC claims, that it has more than 50,000 customers and 105 branches in India. Kogta Financial provides cars loan to tractor loans in rural areas, Tier-II, and Tier-III cities.
Mellora: A Bengaluru-based online jewellery fashion brand Melorra raised $12 million in a Series C round of funding led by a seed round investor Lightbox. Other investors are Rati Seth, BlackSoil Capital, Rainmaker Ventures, Dabur India, and Jamshed Jeejeebhoy.
With this deal online jewellery brand Melorra raised atotal of $17.5 million in 2 rounds of funding from 6 investors. Online jewellery fashion brand Mellora is founded by Krishna Kumar and Saroja Yeramilli in 2016.
DealShare– A Jaipur-bases Social Commerce Startup founded in 2018 has raised $11 million in a Series A round of funding from Matrix Partners India, Falcon Edge Capital, DST Global, and Omidyar Network India. Social e-commerce startup DealShare provides home delivery at a discounted rate of consumer products with the partner stores.
Vahdam Teas: A Delhi-based online tea brand Vahdam Teas raised $10.5 million in a Series C round of funding led by Sixth Sense Ventures. Zomato co-founder Pankaj Chaddah, existing investor Fireside Ventures, Mankind Group Family office, Infosys founder Kris Gopalkrishnan, SAR Group Family office, Urmin Group family office, are other participants of the funding round.
Mumbai Angels and Singapore Angel Network invested in the early round of funding. The tea brand Vahdam is founded in 2015 by Bala Sarda has raised a total of $15.1M in 4 rounds from 11 investors. Vahdam Teas shipped its products to 76 countries with the USA, Russia, and Europe being its top markets.
BASIX Sub-K iTransactions: A Hyderabad-based fintech startup Sub-K raised $10.5 million in a Series C round of funding from Denmark’s one of the leading asset management company Maj Invest Equity.
Fintech startup Sub-K raised a total of $15.9 million in 2 rounds of funding from 3 investors. Other investors are Nordic Microfinance Initiative, ECL Finance Ltd, Intellecap Advisory Services Private Limited, and US-based Accion. Retail-customer-focused fintech startup Sub-K works with a vision to provide a technology-enabled transactional platform to the unbanked population.
Ola: Ola has raised $5.1 million in Series J round of funding from ARK Ola Pre IPO Private Investment Trust in the last week of September. With this deal, Ola has raised a total of $3.8B funding in 24 rounds from 43 investors.
Hevo Data: A Bengaluru and San Francisco based unified data platform Hevo Data raised $4 million in a seed round of funding from Chiratae Ventures, Surge Ahead, Blume Ventures, Lightspeed Venture Partners, Omidyar Network and Nexus Venture Partners. Hevo Data has raised a total of $5M in 2 rounds of funding from 6 investors. Startup Hevo Data founded in 2017 by Manish Jethani and Sourabh Agarwal, provides an actionable data warehouse by real-time Analytics to customer-focused Data-Driven Companies.
Juno: Neo banking startup Juno has raised $3 million in a seed round of funding led by Sequoia Capital and Polychain Capital. Dragonfly Capital, Consensys Labs, Astarc Ventures, Jitendra Gupta, and Nitin Sharma, are other participant investors. The startup Juno provides the option of fixed deposit and easy withdrawal of money at any time. The banking investment platform is operational from next year.
CleanseCar: A Bengaluru-based App-supported doorstep car cleaning service startup CleanseCar raised $2 million in a seed round of funding from 14 Indian Angel investors including Haldiram’s family office, Apoorva Ranjan Sharma, Rahul Bothra, and Mitesh Shah. Car cleaning startup CleanseCar runs services in 9 main cities of India. With this deal, the startup CleanseCar raised a total of $2.6 million of funding in 3 rounds from 14 investors.
Smytten: Online brand discovery platform Smytten founded in 2015 by Siddhartha Nangia and Swagat Sarangi. Startup Smytten has raised $1.5 million in a seed round of funding from Roots Ventures. Startup Smytten has raised a total of $3 million in 3 rounds of funding from Roots Ventures, and Rimpal Chawla- CEO Anitya Ventures. With Smytten App, users can search 500+ verified original premium brands.
An undisclosed amount of funding raised by Indian startups
Vahan.ai: A Bengaluru-based Ai-supported jobs marketplace Vahan.ai raised an undisclosed amount of fresh funding from Khosla Ventures, and San Francisco-based venture funds Founders Fund and Pioneer Fund- Y Combinator Alumni supporting fund.
GeoIQ: A Bengaluru-based location intelligence startup GeoIQ raised an undisclosed amount of funding from Inflection Point Ventures. Startup GeoIQ provides consumer insights with clean location data businesses.
NeuroLeap: A Brain Advanced Neuro Technology-based Brain Assessment and Improvement mental healthtech startup NeuroLeap raised an undisclosed amount of funding in Angel round from Rajashree Birla, chairperson, Aditya Birla Center for community initiatives and rural development, and Sminu Jindal, MD-Jindal Saw.
Kosha: A Mumbai-based winter wears apparel brand Kosha founded by Yuktie Jhangiani has raised an undisclosed amount in a seed round of funding from investors including Tres Monos Capital, and Narendra Hiranandani, Founder of Enhira Software.
Sattuz: Bihar-based foodTech startup Sattuz raised an undisclosed amount of funding from Indian Angel Network in an Angel round. Food tech startup Sattuz provides nutrition-based, Gluten-free, lactose-free, Instant energy drinks, and food products.
Boonbox : Rural e-commerce startup Boonbox also raised an undisclosed amount of funding.
Major announcement of the week
The Ministry of Electronics and IT (MeitY) announced to support, and seed funding to 100 Ai-based startups that focus on translation services in Indian languages.
This is a part of Govt of India’s plan to invest Rs 450 crore on Natural Language Translation. The main aim is to accessible technology and science in all Indian languages with English.