In the year In the first week of August 2022, the startup ecosystem in India has seen little in the way of venture funding as capital flows have been disrupted due to various factors.
Total funding in the first week is up to $111 million, investing in around 22 deals. In the year In the last week of July 2022, the total was around $80 million.
Major funding rounds
Baby Burp, Race Round – Last week, Surat-based baby food company Bebe Burp raised nearly $95,000 in its second seed funding round.
The children’s food company’s first seed funding round was led by LetsVenture and Lead Angels Network along with other investors. The company raised nearly $250,000 in that funding round.
Confirm, seed round – Surat-based EV logistics startup, EVify, has raised $100,000 in seed funding in a funding round led by WeFounderCircle.
Deserv, series A roundDeserve, a Mumbai, Maharashtra-based SEBI-registered portfolio manager, has raised $20.7 million in a series of funding rounds involving 5 investors.
The investment management company’s seed round of funding was in September last year and raised nearly $7 million from more than 23 investors.
Web Interactions, Series B Round – WebEngage, an online marketing company that focuses on B2B services, raised $20 million in Series B funding this week. The funding round was led by Singularity Growth Opportunities Fund and SWC Global, with participation from existing investors such as India Quotient, Blume Ventures and IAN Fund.
Tweed, Series A round – Tweed, a startup in the business of online rewards and loyalty programs, announced on Wednesday that it has raised nearly $12 million in series funding led by Japanese e-commerce and retail retailer Rakuten.
Global heavyweights such as Google, JAFCO Asia, January Capital and ICMG Partners participated in the financing round.
River, race round – Bengaluru-based 2-wheeler EV startup, River, has raised $13 million in a seed funding round led by Lower Carbon Capital and Toyota Ventures. The previous seed funding took place in March 2021, when the startup raised $2 million in a funding round led by Israel-based Manive Mobility and San Francisco-based trucking VC.
Jeffery, Series A Round – Jeffy, a startup focused on increasing financial inclusion, has raised nearly $10 million in Series A funding led by Accel and Nexus Venture Partners.
Farmley, Series A round – Noida-based food startup Farmlay has raised $6 million in Series A funding led by Singapore-based investment firm, DSG Consumer Partners and Delhi-based LLP, Alkemi Growth Capital.
Credible, direct investment – fintech CredAble, a startup focused on financing and providing supply chain services, has raised $9 million in a funding round led by Axis Bank and OAKS Asset Management.
The high volatility in global capital markets is expected to continue for some time as the geopolitical crisis around the world continues.
In such a scenario, a slowdown in venture capital funds and similar cash flow is expected to remain in place for the next few months.