Funding in Indian startups this week (19 Nov-24 Nov )


This week 14 Indian startups received funding, of which 12 received a total sum of about $103 million. Among them, Incred raised the highest investment of about $42 million followed by Magicpin, which raised $20 million.

Meanwhile, funding for 2 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week:

List of disclosed funding deals this week

Vedantu: Online tutoring startup Vedantu has raised $11 million in its Series B round of funding led by Omidyar Network. The Bengaluru-based startup also saw the participation of its existing investor Accel Partners in the round.

Magicpin: Local discovery, rewards, and commerce platform Magicpin has raised $20 million in a fresh round of funding led by Lightspeed Venture Partners US. Existing investors Lightspeed India Partners and WaterBridge Ventures also participated in it.

DeTect Technologies: IoT startup DeTect Technologies has raised $3.5 million in its Series A round led by SAIF Partners. Bharath Innovation Fund, Axilor Ventures, BlueHill Capital and a few angel funds from the Keiretsu Forum also participated in the round.

InCred: Digital lending app InCred has secured a funding of about $42 million led by founder Bhupinder Singh and its private equity investors like Paragon Partners by Siddharth Parekh.

Signzy: Digital onboarding solution provider for financial institutions Signzy has raised $3.35 million in a round led by venture capital firms Stellaris Venture Partners and Kalaari Capital.

CropIn: Agritech startup CropIn Technology has raised $8 million in its Series B round of funding from Chiratae Ventures and Bill & Melinda Gates Foundation.

Genius Corner: AI-enabled edtech startup Genius Corner has raised $0.28 million in its angel funding round from Ranbir Singh, Mahesh Mohta and Lakshmikantan Sundereswaran. Other investors Dipak Varshney and Puneet Garg also participated in the round.

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Roposo: Fashion-focused social network turned into a horizontal platform for marketers and sellers, Roposo has $1.7 million in a fresh round of funding from Bertelsmann India Investments.

Yaantra: Delhi-based smartphone refurbishing and resale platform Yaantra has raised around $2 million in venture debt from alternative investment firm Anicut Capital.

ShoeKonnect: Info Edge has invested $0.42 million more in online B2B footwear marketplace ShoeKonnect.

Aye Finance: Non-banking financial company Aye Finance has raised $10 million in debt funding from Switzerland-based impact investor BlueOrchard Finance.

CashRich: Wealth management app CashRich has raised $1 million in angel funding from three undisclosed UK-based individuals.

Undisclosed deals this week

Online payments platform Billdesk and social network and discovery platform for artists SkillBox did not disclose their financial details on funding.

Source: Entrackr

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