With the cold weather setting in for the startup ecosystem in India, venture capital levels have dropped to about $100 million. The absence of any large deals this week could not keep the funds flowing.
There have been 25 deals worth a total of $103 million in venture capital funding.
Top deals of the week
D2C Children Footwear Brand Plaeto Secures Funding To Expand To New Markets.
Bengaluru-based D2C footwear brand Plaeto, which makes footwear for children, raised INR 40 Cr ($5 Mn) in a Series A round of funding led by Florintree Advisors, with participation from other investors. The startup plans to use the incoming funds to expand to new markets and bring new products to its catalogue.
Drone Startup EndureAir Systems Raises Seed Funding To Scale Up Manufacturing.
Drone startup EndureAir Systems has raised INR 13.5 Cr as part of its seed funding round led by Asian Paints co-promoter Jalaj Dani. The round also saw participation from the founders of robotics startup Addverb Technologies.
The fresh funds will be deployed to ramp up its expansion plans and scale up manufacturing. The funding will also be used to ramp up innovation and meet the demand for heavier payload capacity drones.
Also read: Weekly Funding Update – India (July 01 – July 08)
B2B artisan firm Lal10 raises funds from Yuj Ventures, others.
Bhagwandas Retail Pvt. Ltd, which runs business-to-business (B2B) artisan platform Lal10, on Tuesday said it has secured pre-Series A funding of $5.5 million (Rs 42.9 crore) co-led by Yuj Ventures (Xander Group) and and early-stage venture firm Beyond Capital Ventures.
The round also saw participation from Spiral Ventures, Singularity Ventures, Asymmetry Ventures, Stride Ventures, Trica’s investor Network, Blacksoil, Panthera Peak and Pegasus FinInvest.
DrinkPrime Raises INR 60 Crore in Series A Round.
DrinkPrime have raised INR60 crore in its Series A round. Funds will be utilized to invest in people, product and infrastructure to ensure they serve one million homes by 2026. The round was led by marquee investors like Omidyar Network India, Surge Sequoia and 9Unicorns.
“DrinkPrime is a drinking water company not a water purifier manufacturer. We raised funds to move closer to our goal of making safe drinking water accessible to the majority of India. We will do everything it takes to ensure we serve one million subscribers by 2026,” said Vijender Reddy Muthyala, co-founder and CEO, DrinkPrime.
Hummingbird leads $15m funding in Eka Care and other India deals.
Healthcare technology company Eka Care has raised $15 million in a Series A round led by Hummingbird Ventures with participation from 3one4Capital, Mirae Assets, Verlinvest, Aditya Birla Ventures, Binny Bansal, Rohit MA and other investors.
The company plans to use the proceeds for product development, hiring, and educating consumers. This takes the total funding raised by the Bengaluru-based startup to nearly $20 million including a $4.5 million seed round in July 2021.
Amazon Smbhav Venture, Fireside lead Series A round in Fitterfly.
Fitterfly Healthtech Pvt. Ltd has raised $12 million (around Rs 96 crore) in a Series A funding round led by Amazon Smbhav Venture Fund and Fireside Ventures, marking Amazon Smbhav’s first healthtech bet in India.
The fresh funds will be used to expand Diabefly’s reach, which is their digital therapeutics program to prevent, manage and reverse diabetes. The company will also invest to enhance Fitterfly’s technology stack to give unique clinical insights.
Trainman raises $1 Mn in seed round.
Online train ticket booking platform Trainman has raised $ 1 million in seed round of funding from marquee investors like Goodwater Capital, Hem angels and others. Angel investors such as Justin Hamilton and Ivy Growth Associates have also participated in this round.
The fresh capital will be utilised to further enhance and optimise its platform, foray reach in the flight ticket market and to increase its investment in technology and products while tapping into the growing verticals like predictive and data analytics on vast scale.
Indian edtech startup Geekster raises $1.3 million in funding.
Edtech platform Geekster has raised $1.3 million in a pre-Series A round led by Inflection Point Ventures. Other investors such as We Founder Circle, Ah Ventures along with MyNavi Corporation have participated in this round.
The fresh capital will be utilised towards expanding the team, elaborating the portfolio of offerings, adding new programs, building scalable learning and hiring platforms, said Geekster in a press release.
