This week, we see a considerable amount of activities in the startup ecosystem. Though funding was down compared to the previous week, there have been other interesting developments in the ecosystem. In this article, I will be walking you through an overview of the ecosystem in the past week. You will learn the following:
- Funding, Partnerships, and Acquisitions
- Operational updates
Funding, Partnerships, and Acquisitions:
- Sibros, a deep connected vehicles startup has raised $12M in a round led by Nexus Venture Partners
- Fourth Partner Energy, a solar solution startup has raised $15 M from responsAbility Investments AG
- leap.club, a professional women network has raised an undisclosed amount from Titan Capital and others. This is the second round of funding the entity has raised this year.
- Finin, a neo banking platform has raised an undisclosed amount from Unicorn India Ventures and others
- Mpowered, an asset management firm has raised $21 M from Angels
- StyleDotMe, a fashion tech startup, has raised Rs. 3.5 Cr in a round led by Survam Partners
- InCred Financial Services has secured an Rs. 500 Cr debt funding in a round led by public sector banks and financial institutions.
- VEGROW, an Agri-tech startup has raised $2.5 M in a round led by Matrix Partners India and Ankur Capital Fund
- iNurture Education Solutions Pvt. Ltd. Ed-tech Startup has raised Rs. 10 Cr in debt funding from BlackSoil Capital
- Bijnis (Apke Business ki App), a B2B market place has raised $10 M from Sequoia Capital and Matrix Partners India
- Thrive FNC, a health & wellness startup has raised an undisclosed amount from Rajesh Ranavat who is the Executive Director at Fung strategic investments
- Gigforce, a staffing solution startup, has raised Rs. 6 Cr from Unitus Ventures
- entri.app, a vernacular language learning app, has raised $1.7 M in a round led by Good Capital This is an additional raised in continuation with the previously raised $1.4 in February.
- Snack-Amor has raised an undisclosed amount from VANS investment, the family office of Dr. Srinivas Chunduru
- Ather Energy, an electric scooter manufacturing startup has raised Rs. 84 Cr from Hero MotoCorp
- Flipkart has acquired Walmart India Pvt. Ltd.
- SpiceJet Limited has acqui-hired Travenues
Operational updates in the startup ecosystem:
- Okinawa Scooters is planning to expand its distributor’s network. It is looking at Maharashtra, Bihar, Assam, and other easter states of India for expansion by this year-end.
- Cure.Fit has entered the Ready-To-Eat segment to deal with the business losses due to the pandemic. It expects to have about 50% of its food-tech revenues to come through this approach by end of December.
- MobiKwik is aiming to become profitable by the end of this year.
- Startups can now list on the India Stock market.
Thank you for taking the time to read through the updates of the week. For more, ensure you revisit this space next week!