Overview: Latest Quarterly Funding Report (Jan-March 2024 Funded Startups)

Startups are progressing their innovative skills and expertise with passion and enthusiasm, but to build a startup or set the ground for a business, the importance of money cannot be denied. Funding plays the pivotal role for any startup. Though last year, saw a significant rise in the incidents of funding winter, this year the picture has got improved notably.

In January, India witnessed 107 successful deals and an amount of $732.7 million fund was lifted by the startups. Notably, Ola founder Bhavish Agarwal’s AI startup Krutrim stood out and became a unicorn in a record time. In January, International Battery Finance, and three fintech startups – StockGro, FinAGG and Ecofy – were in the top five list of funding.

Februarysaw a further growth in the funding scenario. The report says, nearly, 121 successful funding deals were taken place and the startups of India lifted $898.5 million. In this, 83 early stage deals worth of $313.5million were signed, while 25 late stage deals were signed worth $585 million. E-commerce startups hit the top position with 27 funding deals, which was followed by the healthtech sector with 12 deals, fintech sector with 10 deals, SaaS based sector cracked 10 deals. Prop-tech, AI, EV, and food tech startups were also on top of the list of successful deal.

During the First Week of March, nearly 27 funding deals were signed which fetched a total funding of $307.8 million. Out of these deals, 7 growth stage deals and 17 early stage deals were signed. Total seven startups raised $141 million. Silicon products Startup Azimuth AI bags unrevealed funds from AUM Adventures. Bengaluru-based E-learning startup guaranteed Ed-tech Startup MyCaptain wins Rs.14 Crore Funding. A direct-to-consumer (D2C) skincare & nutrition brand, The Ayurveda Experience (TAE) has secured $27 million in its Series C funding round. India’s first tech-enabled grab-and-go specialty coffee company secured $3.4 million in its series A funding. Ecommerce Giant Myntra bagged $54 million from its parent company Flipkart on Myntra’s 17th Birthday.

Nearly, 17 early stage startups grabbed funding worth $166.8 million, during the week an early stage startup mPokket led the overall funding chart with its $60 million debt. On the first week of March the startup funding shrank 20% to $307.8 million as compared to $384.16 million in the previous week.

Active investors and VC firms who actively participated in the funding rounds are Peak XV, Tiger Global, AUM Adventures, Inflection Point Ventures, Tanglin Venture Partners, Singapore-based VC firm, Jungle Ventures, and E-commerce giant Flipkart.

The Second Week of March saw a total 30 successful funding deals and the startups collectively lifted $287million. This deals include, six growth stage deals, and 20 early stage deals. Among growth stage deals six startups secured $234 million. Total 20 early stage deals were signed and secured a funding of $53 million during the week. Pandorum Technologies secures $11 million investment to advance its Regenerative Therapy for Corneal Blindness in its Pre-series B Funding round. Bengaluru-based Geriatric-specialized startup, Kites Senior Care has uplifted Rs.45 crore (approximately $5.4 million) in a Series A funding round. Battery manufacturing startup LOHUM has raised $54 million in series B Funding. Social commerce startup brand CityMall has cracked the deal and raised $75 million in its Series C round. Bengaluru based fintech startup Perfios secured $80 million from Teachers' Venture Growth in its series D funding round.

Active investors and VC firms who actively participated in the founding rounds are Acebright Pharma, Indian Angel Network, Chairman of Manipal Education & Medical Group- MEMG, Ranjan Pai, Equity, Cactus Venture Partner, Norwest Venture Partners, Teachers' Venture Growth.

Third Week of March, saw total 22 funding deals worth $447.35million. The deals include 9 growth-stage deals and 11 early-stage deals. In the growth stage deals 9 startups raised nearly $420.35 million and in early stage deals 11 startups bagged a funding worth of $27 million. Health-tech startup Ultrahuman has raised a fresh fund of $35 million in a funding round with a mix of equity and debt investment. CleanTech startup Fluid Analytics started their new journey by lifting $1.6 million in its Pre-Series A funding round. Food-Tech startup Curefoods raised $36 million in the first tranche of Series D and is now valued at $375 million. Jewelry-tech brand Jewelbox sealed a deal of Rs.3.5 Crore from the platform of Shark Tank India season 3. Pune based health tech startup FlexifyME grabbed 1 crore at a 2% stake from Namita Thapar in Shark Tank India season 3.

Active investors and VC firms who actively participated in the founding rounds are Blume Ventures, Steadview Capital, Nexus Venture Partners, Zomato founder Deepinder Goyal, Pravega Ventures, Three State Ventures, JITO Incubation and Innovation Foundation.

In the Last Week of March
Nearly, 17 Indian startups raised $243.3 million in funding. These successful dealings include seven growth stage deals and 9 early stage deals. An Intra-City Logistics Startup JustDeliveries secured $1 million in a Pre-Series A funding round led by Nabventures. Grocery Retail Startup SuperK bags Rs.31 Crore funding in its series A round. Ad-tech platform AdOnMo which is backed by Zomato lifted $7 million in Series B1 funding round. Rural Women-emphasized New-age microfinance Sindhuja Microcredit focusing the rural development, upraises Rs.120 crore fund in its Series C round of funding. Fintech Startup KreditBee grabbed $9.4 million in Series D funding round.

Active investors and VC firms who actively participated in the funding rounds are Nabventures, Anay Ventures, Caret Capital, Blume Venture, Veltis Capital, Stargazer Fund, CoralBay Ventures, VSS Investment Fund, Silver Needle Ventures, GAWA Capital, Premji Invest, Motilal Oswal Private Equity. This week seed funding deals were on top position followed by few debt deals, series A and pre series A funding deals.

This month has perceived a sharp growth of few organized sectors like fintech, healthtech, e-commerce, edtech, cleantech, and Artificial Intelligence based technology oriented startups exhibiting a sharp upsurge in their revenues. Indian industry is pushing itself towards sustainable offerings and products.

Among all the weeks, the third week exhibited the maximum number of big-ticket deals. Avanse Financial Services bagged the costliest check worth $120 million from led by Abu Dhabi-based investment firm Mubadala Investment Company, followed by OTT plaform Pocket Fm which grabbed $105 million. Notably, Bengaluru cracked most of the successful funding deals followed by Mumbai, Noida and Gurugram.