Indian startups raised $236 Mn this week, led by Boldfit and GreenCell
Indian startups raised $236.2 Mn across 25 deals between October 12 and October 16, up 92.2% from the $122.9 Mn raised the week before.
Five rounds of $20 Mn or more made up nearly two-thirds of the total, led by D2C fitness brand Boldfit's $41.8 Mn Series B from Bharat Value Fund.
AI took the largest share
AI startups raised $53.4 Mn across six deals, more than any other sector. RapidCanvas's $29 Mn Series B, led by Vertex Ventures SEA & India, made up 54.3% of that.
Clueso raised a $10 Mn Series A led by Dharana Capital, and Parallel Loop raised a $6.6 Mn seed round led by 3one4 Capital.
Shamrock AI ($5 Mn seed, led by Endiya Partners), RevRag.AI ($2.5 Mn seed, led by Accion Ventures) and AdGraam ($316K seed) completed the AI list.
Consumer brands: Boldfit leads
Ecommerce was the second-largest sector at $48.3 Mn, most of it from Boldfit's round.
Smaller consumer rounds went to recommerce startup Circle ($2.6 Mn seed, led by Nexus Venture Partners), supplements brand The Stack ($2.2 Mn) and appliance maker Foundry ($1.2 Mn pre-seed).
Formial Labs ($303K pre-seed), wudhomes ($263K pre-seed, led by AJVC) and Vitonnix (an undisclosed seed round led by Inflection Point Ventures) raised early rounds.
Mobility, manufacturing and deeptech
GreenCell Mobility raised $34.6 Mn from Impact Fund Denmark, the week's second-largest round.
Manufacturing-solutions startups raised $31.8 Mn. Scimplify's $25 Mn round, led by Hitachi Ventures, accounted for most of it, followed by NuSynth ($4 Mn seed) and ThinkMetal ($2.8 Mn).
Advanced hardware attracted $23.2 Mn. Construction-robotics startup Origin raised $20 Mn led by Accel and Zacua Ventures, while OXG Space ($1.7 Mn) and Cosmochute ($1.5 Mn) raised smaller rounds.
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Health, education and gaming
Confido Health raised a $12.5 Mn Series A led by Z47, and MakeO raised $9.4 Mn in a round led by Singularity AMC.
Mesa School raised an $11.4 Mn Series A, a mix of equity and debt, and Spill Games raised a $10.5 Mn Series A led by Elevation Capital.
In fintech, RocketPay raised $1 Mn in a round led by Sandeep Jain.
Who wrote the cheques
Accel was the week's most active investor, backing four startups: RapidCanvas, Scimplify, Origin and Cosmochute. Hitachi Ventures, 3one4 Capital and Inflection Point Ventures each backed more than one.
Pre-seed and seed-stage rounds totalled $25.9 Mn across 11 disclosed deals.
Acquisitions, IPOs and rounds in the works
Infotech acquired Bengaluru-based SaaS startup Zluri to strengthen its application discovery and identity governance capabilities.
Freshworks agreed to acquire Torii, a SaaS management platform, to expand into AI spend management. Terms of both deals were not disclosed.
Zetwerk's IPO, with fresh shares worth ₹2,830 Cr and an offer for sale of up to 14.45 Cr shares, was subscribed 31% by the end of its second day. Tonbo Imaging's ₹852 Cr IPO was subscribed 7.78X on its second day and is scheduled to list on October 23.
Whizzo is in talks to raise about $26 Mn in a Series B, likely co-led by Aavishkaar Capital and Bertelsmann Investments. Haircare startup Traya is in talks to raise about ₹300 Cr from Verlinvest at a valuation of ₹2,500 Cr to ₹3,000 Cr.
Weekly totals and sector figures are from Inc42's funding tracker.
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