StartUp funding that captured attention in Indian market in mid of 2024fy that ranged from proptech, spacetech, wealthtech, Fintech, mobility and Edutech.
The funding news in Indian Startup landscape brightened and bought hope for startups to raise their offering and services and choices for customers, between July-Aug 2024.
The Indian Startup landscape recently witnessed funding spree and here are few we have listed down for your information.
Funding in startups variation
Understanding startup funding stages is essential for successful resource acquisition and growth which is long term and finance is essential life booster.
There are many types of funding of which Pre-seed, seed, series A to C financing and an IPO are common investment options available to startups.
There is lot of preparation required that include a business plan and pitch presentation as well as due diligence research are key elements of the investor landscape.
Infinyte Club raised $3.52M in its latest funding round, which was Series A round held on Jul 28, 2022. Infinyte Club has total 37 investors. 11 are institutional investors including Elevation Capital and 10 others.26 are Angel investors including Gaurav Munjal and 25 others.
Rapido, a mobility startup has turned unicorn with a $120 million Series E funding round backed by its largest backer WestBridge Capital which has pumped in money via three different investment vehicles.
The board at Rapido has passed a special resolution to allot ten equity shares, 95,479 Series E and 95,489 Series E1 compulsory convertible preferred shares (CCPS) at an issue price of Rs 52,467 per share for a consideration of Rs 1,002 crore or $120 million, as per the report.
Unimech Aerospace has secured Rs 250 crore from Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd as a part of its private placement round.
This is the maiden funding round for the Bengaluru-based company since its existence in 2016. As per the startup, the funds will be used to pursue both organic and inorganic growth and refine products.
Truva, Proptech a real estate technology platform, has raised $3 million in a funding round led by early-stage venture capital firm Stellaris Venture Partners.
The round also saw participation from angel investors such as Myntra founder Mukesh Bansal, Curefoods founder Ankit Nagori and Groww founder Lalit Keshre, among others.
Punch the stock-Trading platform Punch has raised $7 million in seed funding from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners and Innoven Capital.
Punch is a trading StartUp platform that offers trading in index and stocks both.
The fund is combination of equity and debt fund and the platform enables index and stock options trading, as well as direct stock trading, based in Mumbai.
StartUp EtherealX invest total funding raised $5M seed toward fully reusable launch vehicles an innovative project.
Indian space tech startup EtherealX, that works with reusable rockets, raised $5 million in a seed-funding round, which was led by ‘Pre-Series A’ fund YourNest Venture Capital and also saw participation from BIG Global investments JSC, BlueHill Capital and others.
Stable Money, a Wealthtech startup has secured over Rs 123 crore nearly $15 million in a new round from RTP Capital, Lightspeed India, and Matrix Partner. The Bengaluru-based company has become one of the few startups to close two rounds within a year, especially at the time of funding winter.
The board at Stable Money has passed a special resolution to issue 77,135 CCPS at price of Rs 16,019 each to raise Rs 123.56 crore or $14.74 million, as per the report.
Dezerv, a Wealthtech platform, has secured Rs 265 crore or $32 million in a Series B funding round led by Premji Invest. The fundraising shows the Mumbai-based firm’s ability to weather the funding drought, especially in the space of wealth management.
As per the report, the board at Dezerv has passed a special resolution to issue 41,761 Series B CCPS at an issue price of Rs 63,455 each to raise Rs 265 crore or $32 million.
Premji Invest spearheaded the round with Rs 169 crore while existing backers Elevation Capital and Matrix Partners pumped in Rs 35 crore each. Accel India, which led Dezerv’s Series A funding round, also participated with Rs 26 crore during the Series B round.
Auxilo, an Education-focused non-banking financial corporation (NBFC), has raised Rs 100 crore in a debt funding round. According to the report, the board at Auxilo has issued non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each to raise Rs 100 crore ($12 million).
Dezerv Securities contributed Rs 26.39 crore, while MAS Financial Services and CredAvenue Securities (Yubi) contributed Rs 25 crore each. The investors will soon release the balance amount as per reports.
