The Indian startup ecosystem ended the month of November on a high. Between November 28 and December 3, 2022, Indian startups collectively raised $558 Mn across 26 deals. This was a 127% jump from $245 Mn raised by the startup ecosystem in 21 deals during the last week of November 21-26. Compared to $344 Mn raised across 28 deals during November 14-19 week, funding rose 62% this week.
After a long time, the startup ecosystem saw a mega deal this week. Coworking space startup Table Space raised $300 Mn in a round led by Hill House Capital. Lendingtech startup KreditBee was at the second position in terms of funding raised. The fintech startup raised $80 Mn in its ongoing Series D round from Premji Invest, Motilal Oswal Alternates, among others. Agritech startup DeHaat, after laying off employees recently, raised $60 Mn in its Series E round led by Sofina Ventures and Temasek.
Kunal Shah was the busiest investor this week, participating in three funding deals.
Funding Deals Of The Week
From Startup Acquisitions Desk
Edtech startup Simplilearn has acquired US-based bootcamp edtech startup Fullstack Academy in an all-cash deal.
Sanjay Ghodawat Group’s FMCG arm Ghodawat Consumer Ltd has acquired beverage startup Coolberg for an undisclosed amount.
Pharmaceutical company Mankind has acquired a controlling stake in D2C health and wellness brand Upakarma Ayurveda.
Kunal Shah’s CRED will be acquiring lending tech startup CreditVidya in a mix of cash and stock deal.
Listed online travel aggregator EaseMyTrip will be acquiring a 75% stake in Gujarat-based aviation asset financing and leasing company Nutana Aviation Capital IFSC Private Limited.
Other Developments Of The Week
Venture capital firm Accel’s accelerator programme Atoms, which invests a non-dilutive capital of $250K, has launched its second cohort which features 10 Indian startups.
Aditya Birla Group’s house of brands business TMRW is said to have invested in eight digital-first lifestyle brands.
Meta, the parent company of Facebook, is launching a $1 Mn fund to launch a fellowship programme to support 100 Indian developers.
Anicut Capital has received SEBI’s approval for its INR 1,500 Cr third debt fund, named Grand Anicut Fund 4.
Inc42 this week exclusively reported that ShareChat has expanded its ESOP pool size to INR 2,375 Cr (about $292 Mn).
Urban Company has granted stock options worth INR 5.2 Cr to around 500 partners across India under the Partner Stock Option Plan (PSOP).
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