From BlueStone To Livpure- Indian Startups Raised $265 Mn This Week

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Funding momentum across the Indian startup ecosystem took a blow in the third week of the ongoing month after bucking an uptick trend in investment activity. Between August 19 and 24, startups raised $265.2 Mn across 16 deals, a 33% decline from the $395.63 Mn raised via 20 deals in the preceding week. 

Funding Galore: Indian Startup Funding Of The Week [ Aug 19-24 ]

Key Startup Funding Highlights Of The Week

The week saw lone mega fundraise with omnichannel jewellery startup Bluestone bagging $107.2 Mn (INR 900 Cr) in its pre-IPO round from Peak XV Partners, Prosus, Steadview Capital, Think Investments and Pratithi Investments.
Buoyed by Bluestone’s funding round, ecommerce emerged as a sectoral leader this week. as startups raised $148.7 Mn via 4 deals in the week.
Fintech sector trailed behind ecommerce at a sectoral level, with startups in the sector securing $61.5 Mn via 5 deals. Notable deals in the sector included Aye Finance’s $25 Mn loan from Goldman Sachs (India) and axio’s $20 Mn fundraise from Amazon Smbhav Venture Fund.
Enterprise tech sector hogged the limelight with the maximum number of deals this week with startups raising $55.06 Mn via six deals.
JM Financial Private Equity, Inflection Point Ventures and Venture Catalysts emerged as the most active investors this week, backing two startups each.
However, seed funding continued to move in a downward trajectory this week with LLUMO AI bagging $1 Mn cheque.

Startup Fund Launches Of This Week

Gujarat-based micro venture capital firm Volt VC launched its early-stage focused maiden fund with a target corpus of INR 45 Cr. With this, it will focus on pre-seed investments in consumer-focused businesses across sectors like D2C, B2C and B2B2C models.
Edtech unicorn PhysicsWallah has floated ‘PW School of Startups’, INR 100 Cr fund to back more than 100 startups. As per the company, the PW SOS will provide a platform for entrepreneurs to access cost effective ideation programmes, practical training, mentorship and capital raising opportunities.
Ex-Venture Highway lead investor Aviral Bhatnagar launched a new venture capital fund called AJVC, which will focus on pre-seed investments. AJVC’s first fund received SEBI approval last week.

Other Developments Of The Week

Flipkart backer Chiratae Ventures announced the third cohort of its flagship seed investment programme Chiratae Sonic. The initiative targets early-stage startups  looking to raise up to $2 Mn in funding.
Titan Capital Winners Fund, backed by Snapdeal cofounders Kunal Bahl and Rohit Bansal, has raised a target corpus of INR 200 Cr to invest in follow-on rounds of breakout startups from its seed portfolio. Bahl and Bansal will anchor the fund as its largest investors.
IPO-bound meat delivery startup Zappfresh acquired Mumbai-based meat and seafood delivery brand Bonsaro in an all-cash deal. The acquisition sees Zappfresh take over Bonsaro’s entire operations and business, including all the assets, to expand its presence in the western pocket.
VC firm Ankur Capital’s fund III, which aims to raise a target corpus of INR 1,200 Cr, has received commitments from two existing limited partners (LPs).

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