From DailyObjects To StockGro — Indian Startups Raised About $123 Mn This Week

Indian startup funding fell 47.4% in the first week of October, with 25 startups raising $122.9 Mn between October 5 and October 9. Startups raised $233.6 Mn raised across 16 deals last week. 

Funding Galore: Indian Startup Funding Of The Week [Oct 5 – 9]

Key Startup Funding Highlights Of The Week

• Ecommerce dominated the funding charts this week, attracting $63.9 Mn across nine deals. DailyObjects’ $34.3 Mn Series C emerged as the biggest contributor, accounting for over half of the total capital deployed in the segment.
• Fintech ranked second with $24 Mn in funding, followed by advanced hardware and technology at $10 Mn. Edtech and healthtech secured $9 Mn and $8 Mn, respectively.
• Early-stage funding gained traction, with pre-seed and seed-stage startups collectively raising $12.5 Mn across nine deals.
• 3one4 Capital, Fireside Ventures, Prime Venture Partners and AJVC led investor activity, backing two startups apiece.

Startup M&A Updates Of The Week

• Hoola Health acquired early-childhood development platform UpTodd to strengthen its paediatric care offerings.
• Marico acquired an additional 24.09% stake in plant-based nutrition and personal care brand Plix for ₹1,012.03 Cr in an all-cash deal, taking its total holding to 84.09%. 
• Walmart-owned Flipkart acquired a minority stake in Delhi-based B2B travel tech startup TravClan to strengthen its international travel offerings and expand holiday packages through Cleartrip and Flipkart Travel.

Startup IPO Updates Of The Week

• Swara Baby Products, a contract manufacturer of disposable hygiene products and a subsidiary of FirstCry parent Brainbees Solutions, received SEBI’s approval for its proposed ₹1,000 Cr IPO. 
• Snapdeal parent AceVector made a weak stock market debut at the start of the week, listing at 11.6% discount at ₹28.30 to its issue price of ₹32 per share
• Dronetech startup AITMC Ventures filed its updated draft red herring prospectus (UDRHP) with SEBI for an IPO comprising a fresh issue of up to 3.5 Cr shares, with no offer for sale (OFS) component months after receiving regulatory go-ahead

Other Developments Of The Week

• IPO-bound study abroad platform Leverage Edu is looking to raise ₹500 Cr in a pre-IPO funding round to bring a large private equity firm onto its cap table, sources told Inc42.
• Frontier AI research startup FYDY (Fuzzy Dynamics), which is operating in stealth mode, is in advanced talks to raise $12 Mn (about ₹115 Cr) in its maiden funding round. Lightspeed Venture Partners and General Catalyst are co-leading the round, sources told Inc42.
• Nabventures, the venture capital arm of the National Bank for Agriculture and Rural Development (NABARD), announced the first close of its second fund at ₹450 Cr, with a target corpus of ₹1,500 Cr, including a greenshoe option.

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