Startup fund activity has seen renewed interest from significant venture funds, indicating optimism in the Indian market. Recent reports from Startup Superb reveal that India-focused venture capital firms have collectively raised over $4.2 billion to date, with several substantial funds set to inject more capital in the forthcoming months. So far in 2025, startups have managed to secure $4.4 billion in funding, a figure that remains consistent with previous years.
Major Players in the Venture Capital Scene
Peak XV, which allocated $2 billion for investments in India in 2022, is preparing to establish a new fund ranging from $1.2 to $1.4 billion. This would be its largest India-focused fund in the current calendar year. It is noteworthy that the Silicon Valley-based firm had previously downsized its last fund by 16% and is now initiating its first independent fund following its rebranding from Sequoia Capital.
Updates from Other Venture Capital Firms
A91 Partners, founded in 2018 by former Peak XV representatives, has confirmed the final close of its third fund at $665 million. Furthermore, the venture capital firm Accel has launched its eighth fund, valued at $650 million, aimed at supporting early-stage startups in both India and Southeast Asia.
Significant Fund Size Adjustments
A91 increased its third fund size by 20%, while Accel opted to keep the same size for its previous India-focused Fund VII. Bessemer Venture Partners successfully closed a $350 million early-stage venture fund, whereas Fireside Ventures is in negotiations to raise $230 million for its fourth fund. Additionally, Tanglin Venture Partners, founded by Ravi Venkatesh, a former executive of Tiger Global, is set to raise $250 million for its third fund.
Government Support for Startups
In parallel with venture capital activities, the Indian government has introduced initiatives focused on startups. These include a funding scheme of Rs 1,000 crore (approximately $117 million) designated to support startups in the space sector and a commitment of Rs 10,000 crore (approximately $1.17 billion) through a Fund of Funds managed by the Small Industries Development Bank of India (SIDBI).
Future Trends and Sector Analysis
The ongoing activities suggest that innovative ideas will continue to find customers readily, especially for startups that have made progress in establishing product market fit. Although predicting the favourite sectors remains challenging, the quick commerce sector could easily see fluctuating shares following a substantial fundraising event. Fintech consistently presents a strong likelihood for growth, even as climate tech may face more struggles due to external influences.
The anticipated IPO of Ather is expected to be a significant positive event, though the firm has a considerable journey ahead. Overall, indicators are optimistic, with expectations that Q3 will mark a time when deal sizes and volumes significantly enhance.
Peak XV Partners Raises New Fund for Early-Stage Investments
Peak XV Partners, previously known as Sequoia Capital, is in the process of raising a new investment fund, estimated to be between $1.2 billion and $1.4 billion. This marks the first fundraising effort of the Silicon Valley-based venture capital firm in India after its rebranding and split from the principal entity that occurred in 2023.
As reported by The Economic Times, the fresh influx of capital will focus on early-stage investments within India and Southeast Asia. In 2022, Peak XV revealed plans for $2.85 billion in growth and venture funds targeting both India and Southeast Asia, with a significant $2 billion specifically allocated for investments in India. However, due to the expensive public market conditions in India at the time, the fund size saw a reduction of 16% in 2024.
Peak XV Portfolio Expands Ahead of Public Offerings
This announcement arrives at a crucial time when several companies backed by Peak XV, such as Meesho, Zetwerk, Groww, and Pine Labs, are gearing up for their entries into the public market. In recent years, numerous firms in Peak XV’s portfolio, including Zomato, Mamaearth, Ixigo, Awfis, Go Digit General Insurance, Blackbuck, and Mobikwik, have successfully gone public.
Recent Investments by Peak XV Partners
Following its rebranding, Peak XV has made significant investments in a variety of companies, including Scapia, RapidCanvas, Sarvagram, Atlys, Neo, Mokobara, Sarvam AI, and Neo.
While Peak XV Partners has chosen not to comment on this latest development, the current year has demonstrated a robust venture capital fundraising environment, despite startup funding remaining stagnant during the first quarter (Q1 2025). A91 Partners, established in 2018 by former partners of Peak XV, recently announced the successful closing of its third fund, raising $665 million. Additionally, the venture capital firm Accel introduced its eighth fund with an allocation of $650 million aimed at nurturing early-stage startups in India and Southeast Asia. Bessemer Venture Partners also announced the closure of a $350 million early-stage venture fund, and Fireside Ventures is reportedly negotiating to raise $230 million for its fourth fund.
Blue Ocean Games Launches $30 Million Fund for Indie Game Developers
Blue Ocean Games, backed by the esteemed South Korean gaming company Krafton Inc., has established a substantial $30 million fund aimed at aiding indie game developers around the globe, particularly targeting emerging talent from India. This exciting initiative was initiated by Damian Lee, who previously led the investments at Krafton, with a vision to support 100 developers over a span of three years.
Structured Agreement for Indie Launch (Sail) Investment Model
As part of its mission, Blue Ocean Games has developed a unique investment model known as the Structured Agreement for Indie Launch (Sail). This model facilitates funding at the conceptual phase—allowing developers to secure investment prior to creating a playable game build. Each indie developer can access funding of up to $100,000, while teams have the potential to receive an amount reaching $300,000, distributed across a two-year period.
Intellectual Property and Developer Control
Importantly, under the Sail framework, developers maintain complete ownership of their intellectual property. The agreement combines elements of equity and revenue-sharing, providing a balanced approach that prioritises developer oversight while ensuring returns for investors.
Support Beyond Financial Investment
According to Sean Hyunil Sohn, CEO of Krafton India, the creative and technical skills present in India are immense, yet many innovative ideas lack essential early-stage support. Blue Ocean Games is pioneering a forward-thinking investment framework aimed at offering crucial financial assistance to indie developers right from the outset. This initiative goes beyond merely providing funding; the fund will also assist with practical elements like incorporation, bookkeeping, and mentorship by experienced industry professionals.
To promote collaboration and community development, developers will be organised into cohorts that encourage shared learning experiences.
Future Plans for Supporting Larger Development Teams
While the current fund primarily caters to individual developers and small, first-time teams, Blue Ocean Games has plans to eventually extend its support to larger, more seasoned teams in subsequent fund cycles.
FarMart: Leading SaaS-Based Food Supply Platform Raises Rs 84 Crore
FarMart: Leading SaaS-Based Food Supply Platform Raises Rs 84 Crore
FarMart, a prominent SaaS-based food supply platform, has successfully raised Rs 84 crore (approximately $10 million) through a combination of equity and debt funding.
The platform has issued 977 Series C CCPS at a rate of Rs 4,52,182 per share, with GC India Investment Holdings spearheading the funding round by contributing Rs 43 crore. Matrix Partners India (Z47) also participated, contributing Rs 1 crore, as revealed in a regulatory filing sourced from the Registrar of Companies (RoC).
In addition to the equity funding, FarMart has mobilised non-convertible debentures from Stride and Trifecta Venture, amounting to Rs 40 crore, according to the filing. The allocated funds are intended for enhancement, expansion, and general corporate initiatives.
Startup Superb estimates that FarMart’s valuation stands at around Rs 1,800 crore (approximately $210 million) following the recent funding round.
FarMart operates a B2B platform aimed at digitising the supply chain for agricultural products and inputs, thereby connecting local buyers and sellers. This innovative approach significantly lowers the logistics expenses typically associated with long-distance transportation. While the company boasts a robust retailer network across central and northern India, its reach in southern states and Jammu & Kashmir is currently limited.
To date, FarMart has raised over $60 million, including a notable $32 million during its Series B round led by General Catalyst with involvement from returning investors Z47 and Omidyar Network India.
Numerous sources indicate that FarMart’s operating revenue escalated by 30% year-on-year, reaching Rs 1,341 crore in FY24, despite reporting a net loss of Rs 68 crore during the same fiscal period. Key investors in the company include GC India Investment Holdings Group, Z47, and ON Mauritius.
FarMart faces competition from various players in the market, including Info Edge-backed Gramophone, Kalaari-backed Agrim, Krishify, among others.
This week, Indian startups achieved significant funding with a total of around $62.67 million raised. This included 3 growth-stage and 18 early-stage investments, while 4 startups opted not to disclose their funding details.
Growth-stage Funding
The current week marked the presence of only three growth-stage funding deals. The B2B e-commerce giant OfBusiness raised $11.7 million (Rs 100 crore) during a pre-IPO funding round. Similarly, Garuda Aerospace, a driven drone technology startup, secured $11.7 million (Rs 100 crore) in its Series B funding led by Venture Catalysts. Additionally, deeptech firm Optimized Electrotech garnered $6 million in fresh investments.
Early-stage Funding
In early-stage funding, a total of 18 startups successfully raised $33.37 million. The SaaS startup Magma took the lead with a $5 million Series A funding round, followed by various companies including robotics firm Peppermint, healthtech innovator Risa Labs, jewellery brand Jewelbox, EV charging enterprise IPEC, and coffee chain Nothing Before Coffee.
Other early-stage ventures like D2C luggage brand Uppercase, sports tech startup SportSkill, gaming platform JetSynthesys, and alco-bev firm Orchre Spirits also received backing, although they have not revealed the specific funding amounts.
For detailed funding specifics, various sources can be consulted.
City and Segment-wise Funding Insights
Pune-based startups led the city-wise count with 5 funding deals, trailed by startups from Delhi-NCR, Chennai, Bengaluru, and others.
In the segment breakdown, e-commerce startups secured the top position with 5 deals, while healthtech and foodtech startups followed closely with 4 and 3 deals, respectively. Other segments like proptech, dronetech, deeptech, SaaS, and others also bagged notable funding.
Series-wise Funding Overview
Over the course of the week, Seed funding took the lead with 10 deals, followed by pre-Series A, Series A, Series B, and additional categories.
Weekly Funding Trend
Comparatively, startup funding witnessed a notable decline of almost 65%, reaching $62.67 million, down from approximately $181.21 million raised the prior week. The average funding across the past eight weeks has been around $231.66 million with 25 deals per week.
Key Hires and Departures
This week brought forth significant leadership changes in various companies. Fintech startup Cashfree Payments appointed Piyush Anchliya as their new Chief Financial Officer (CFO). B2B e-commerce entity Moglix has welcomed Sanjeev Arora as their new CFO. Additionally, Indian dairy company Milky Mist appointed two independent directors, and fintech venture Lendingkart has brought in Prashant Joshi as its chief executive officer, shortly after a majority stake acquisition by Temasek-owned Fullerton.
Meanwhile, a departure was noted as Unicommerce announced that Bhupinder Garg resigned from the position of Chief Technical Officer (CTO).
For further details, various sources should be consulted.
Mergers and Acquisitions
Findi Ltd, via its subsidiary Transaction Solutions International (India) Pvt Ltd (TSI), completed an acquisition of BANKIT Services Pvt. Ltd for Rs 160 crore ($18.7 million). Further, CleverTap, a platform focused on customer engagement and retention, has acquired rehook.ai, a startup backed by Y Combinator.
For more details, various sources may provide further insights.
Layoffs
The SaaS startup Zopper has let go of approximately 100 employees since early 2025. In addition, conversational messaging service Gupshup has recently laid off around 200 employees, adding to a previous reduction of approximately 300 employees in December last year.
For a series-wise breakdown of funding amounts and complete details on fund launches, various sources can be referenced.
New Launches and Partnerships
Tyger Capital has joined forces with Credgenics
Zippee has rolled out a 60-minute delivery service for e-commerce platforms
Tulu Health has unveiled an AI agent platform poised to transform patient care
Equirus Wealth has introduced a comprehensive wealth-tech initiative
upGrad has partnered with Seed Group to enhance AI-driven learning and skill development in the MENA region
Potential Investment Deals
Sachin Tendulkar and others are set to invest $18 million in Rayzon Solar, valuing it at $844 million
Phi Commerce is initiating a Series B funding round with a valuation exceeding $150 million
Dream11’s parent company is preparing to invest $50 million in Cricbuzz
Wow! Momo aims to raise between Rs 130-150 crore led by Haldiram’s Kamal Agrawal and Khazanah
This Week’s Financial Results
D’Decor has surpassed Rs 800 crore revenue for FY24, with profits rising by 20%
Bootstrapped Collegedunia has reached Rs 200 crore in revenue, targeting 3X growth and an IPO within 5 years
Just Dogs is closing in on Rs 100 crore revenue for FY24, but losses have surged
Okinawa has experienced a significant revenue drop of 87%, standing at Rs 182 crore for FY24
This Week’s News Highlights
PhonePe has transitioned to a public entity ahead of its major IPO
Razorpay follows suit, converting to a public entity prior to IPO aspirations
Medikabazaar has dismissed former CEO Vivek Tiwari due to fraud allegations
There are reports of fund misappropriation involving Gensol’s promoters
BluSmart has paused services in crucial cities
PolicyBazaar’s PB Pay has secured RBI approval for payment aggregation
Indian Startups Raise $181.21 Million in Funding This Week
Indian Startups Raise $181.21 Million in Funding This Week
Indian startups raised approximately $181.21 million during the week, which included 6 growth-stage and 13 early-stage funding rounds. Additionally, 5 startups opted to keep their funding amounts confidential.
In comparison, the week prior witnessed 30 startups across various stages collecting around $357.29 million.
Growth-Stage Funding Deals
This week, in the realm of growth-stage funding, payment technology firm Juspay secured $60 million in Series D funding, with Kedaara Capital leading the investment. Additionally, digital payments company Easebuzz raised Rs 240 crore ($30 million) through a funding round led by Bessemer Venture Partners. The Indian wearable brand Noise also attracted another round of funding from the global audio leader Bose. Other notable recipients of funding included the parent company of Bare Anatomy, Innovist, the social entertainment platform eloelo, and solar energy startup Sadhav Future Tech.
Early-Stage Funding Deals
In the early-stage segment, 13 startups together raised a total of $37.52 million. Cross-border logistics startup Xindus took the lead with a $10 million Series A round, followed by edtech startup SigIQ.ai, women-focused fashion brand Outzidr, and nanotech company Vimano. Direct-to-consumer snack brands such as Let’s Try and Eat Better were also part of this funding wave. Membership-based sports club Drive FITT, a refurbished iPhone marketplace named Grest, and data protection startup Data Safeguard also raised funds, although their amounts remain undisclosed.
For comprehensive funding details, check various sources.
Geographical and Sector-Specific Funding Analysis
Bengaluru-based startups led the city-wise funding count with 12 deals, followed by regions like Delhi-NCR, Pune, Jaipur, Hyderabad, and Mumbai.
In terms of sectors, e-commerce startups dominated with 4 deals. Fintech, consumer electronics, edtech, and foodtech sectors followed closely, each with 2 deals. Additionally, sectors such as Spiritual Tech, AI, and logistics secured funding as well.
Series of Funding Deals
This week, seed funding deals topped the chart with 10 transactions, followed by pre-Series A, Series A, Series B, among others.
Weekly Funding Trend
Week-on-week, the startup funding witnessed a nearly 50% drop to $181.21 million, compared to the approximately $357.29 million accumulated the previous week. The average funding over the last eight weeks is approximately $246.87 million with an average of 24 deals weekly.
Key Appointments and Changes
This week experienced notable leadership transitions within several companies. NimbusPost, a logistics tech platform from Xpressbees, appointed Irwin Anand as its new CEO. TiE Mumbai introduced Apoorva Ranjan Sharma as its new President, effective from April 2025 for a two-year term. The visa processing company Atlys named Ananth Iyer as its Chief Financial Officer. Furthermore, Claypond Capital, the family investment office of Ranjan Pai, appointed Sekhar Garisa as its Managing Director.
Additionally, some significant departures took place, including Thampy Koshy stepping down as MD and CEO of ONDC, and Myntra’s Chief Product and Technology Officer, Raghu Krishnananda, leaving after five years of service.
Mergers and Acquisitions
This week, Arihant Academy, an edtech firm listed on NSE, completed the full acquisition of Carmel Classes and Carmel Tuitions in a deal valued at $1.2 million. Creativefuel also acquired MissMalini Entertainment from The Good Glamm Group for Rs 6 crore.
Fund Launches and Expansions
Neo Asset Management announced the closure of its second private credit fund, NSCOF II, at Rs 2,000 crore. The fund, which was launched three months ago, is targeting a total corpus of Rs 5,000 crore. Asha Ventures, based in Mumbai, received $10 million from British International Investment, the UK’s development finance institution. US-based VC firm Expert Dojo has launched its third global fund aiming for $100 million, with $15 million earmarked for Indian startups.
For detailed analysis on series-wise deals, fund launches, and more insights, explore various sources.
New Launches and Partnerships
Kazam has partnered with Yuma to establish battery swapping stations in parks and charging hubs. Grahm, a real estate advisory platform, has made its entry into Bengaluru.
Potential Upcoming Deals
Mosaic Wellness is looking to raise $20 million at a $400 million valuation. Seekho is preparing to raise $25 million and has reported a monthly revenue of $4 million. Agrostar is in discussions for fresh funds from current investors. PhysicsWallah is negotiating to acquire Sarrthi IAS. Zolostays has sold its college accommodation business to Good Host Spaces for Rs 108 crore.
Financial Results This Week
Eloelo, a five-year-old startup, reported zero revenue and a Rs 99 crore loss for FY24, while Ecom Express recorded Rs 1,912 crore in revenue over the first nine months of FY25.
News Highlights This Week
This week, the Urban Company board granted approval for a primary fundraising of Rs 528 crore through an IPO. Bluestone and Aye Finance received nod from SEBI for their IPOs. boAt has filed a draft red herring prospectus confidentially. Wakefit aims for a $200 million+ IPO and has enlisted three investment banks: Axis Capital, IIFL Capital, and Nomura. BharatPe has received clearance from RBI to function as a payment aggregator. Omnivore and Nucleate introduced the BioWave Report, showcasing that India’s life sciences startups raised $1.9 billion over five years. Additionally, PhonePe has widened its lead against Google Pay in March, while CRED has slipped to seventh in UPI rankings.
Weekly Overview
In summary, startup funding for the week showed a significant decline of nearly 50%, falling to $181.21 million compared to the prior week’s $357.29 million. Consumer electronics brand boAt has submitted its Draft Red Herring Prospectus (DRHP) to SEBI through a confidential process. Omnichannel jeweller Bluestone and microlending platform Aye Finance have both attained final approval from SEBI for their public listings. Bluestone aims for a Rs 1,000 crore fresh equity issuance, while Aye Finance targets Rs 885 crore, including an Offer for Sale component. Urban Company has garnered shareholders’ approval for a primary capital raise of Rs 528 crore for its IPO. The edtech unicorn PhysicsWallah continues its acquisition strategy with Sarrthi IAS in its sights. Moreover, India’s leading sustainability-focused VC, Omnivore, in collaboration with Nucleate, published the “India Life Sciences Startup Investing Report” at BioWave, noting $1.9 billion invested across 465 deals between 2020 and 2024, highlighting momentum and focus on biotech in India. The Unified Payments Interface (UPI) recorded a 13.6% boost in transaction volumes in March, totaling 18.30 billion transactions, maintaining rankings for the leading UPI apps while Axis Bank outpaced CRED, shifting it to seventh place.
SiglQ.ai Raises $9.5 Million to Enhance AI Education Tools
SiglQ.ai Raises $9.5 Million to Enhance AI Education Tools
Edtech startup SiglQ.ai has successfully secured $9.5 million in a seed funding round that was co-led by The House Fund and GSV Ventures. The funding saw participation from notable investors including Duolingo, General Catalyst India (Venture Highway), Peak XV Partners, Calibrate Ventures, and several angel investors, such as Andy Konwinski, co-founder of Perplexity, along with Christian Storm, Trevor Darrell, Jitendra Malik, Srini Devadas, and Sharad Malik, among others.
This financial infusion is aimed at accelerating the hiring of top-tier talent, enhancing AI models, and scaling its platforms to educational systems across the globe, as indicated in a press release from SiglQ.ai.
About SiglQ.ai and Its Mission
Founded in 2023 by Karttikeya Mangalam and Kurt Keutzer, SiglQ.ai is committed to developing AI-powered learning tools that provide personalised education at scale. The company’s flagship products, PadhAI and EverTutor.ai, currently serve hundreds of thousands of students internationally, with a clear mission to revolutionise the future of education.
Launch of PadhAI and EverTutor.ai
After spending 18 months in stealth mode, SiglQ.ai has launched two live products focused on the U.S. and Indian higher education markets. An impressive highlight includes the PadhAI Tutor, which achieved the #1 national ranking in the live UPSC 2024 Civil Service Exam, outperforming more than 1.3 million human candidates and surpassing AI systems such as ChatGPT and Claude.
Growth and User Engagement
SiglQ.ai reports that PadhAI has quickly gained traction, attracting over 200,000 UPSC aspirants in India. In parallel, EverTutor.ai, which is designed for GRE preparation, has already garnered over 10,000 users within just three months of its launch.
Future Plans for SiglQ.ai
Looking to the future, SiglQ.ai aims to broaden EverTutor’s reach, particularly supporting GRE aspirants through the forthcoming spring and fall examination cycles. Additionally, the company is preparing to showcase the latest advancements in EverTutor and PadhAI at the ASU+GSV conference, further cementing its status as a leader in AI-driven education.
Eloelo Raises Rs 114 Crore in Series B Funding for Social Gaming and Live Streaming
Eloelo Raises Rs 114 Crore in Series B Funding
Social gaming and live streaming platform Eloelo is set to raise Rs 114 crore (around $13 million) in its Series B funding round. The round is primarily led by Play Ventures Investments, with notable participation from Gameskraft Technologies, Kalaari Capital, WestBridge Capital, among others.
Details of the Funding Round
The board of Eloelo has approved a special resolution to issue 1,696 Series B compulsory convertible preferred shares at a price of Rs 6,73,997 each, aiming to gather Rs 114 crore or $13 million, as per its regulatory filing from the Registrar of Companies.
Play Ventures is taking the lead in this funding round with an investment of Rs 34.7 crore. Meanwhile, Gameskraft Technologies, WestBridge Capital, and Kalaari Capital will contribute Rs 21.7 crore, Rs 8.7 crore, and Rs 13 crore respectively. Additional funding will be provided by Countryside Ventures, Rocket Capital, MIXI Global, and Veenita and Vinay Mittal.
Previous Funding Achievements
Eloelo has successfully raised over $50 million so far, including a noteworthy $22 million pre-series B round, co-led by Courtside Ventures and Griffin Gaming Partners. According to estimates from Startup Superb, the valuation of the company is expected to reach around Rs 1,026 crore or $121 million post-allotment.
Shareholding Structure After Series B
Following this new round of funding, Play Ventures will possess 3.38% of Eloelo, while Countryside Ventures, Gameskraft, and Kalaari Capital will hold 4.46%, 2.12%, and 6.35% respectively. For a comprehensive shareholding breakdown, various sources should be consulted.
About Eloelo
Eloelo, founded by Saurabh Pandey and Akshay Dubey, offers unique native activities such as tambola, antakshari, and musical chairs in live formats, with various creators hosting games for their fan communities. The platform boasts over 50 live games and entertainment categories, with more than 1,000 live streams occurring daily.
Trends in India’s Social Gaming and Live Streaming Landscape
The social gaming and live streaming arena in India is rapidly progressing, with platforms like Loco, Rooter, and Turnip taking charge in the gaming segment, while Chingari, ShareChat, and Bolo Live are also venturing into live and casual gaming to foster deeper engagement. The boundaries between content creation, gaming, and community interaction are increasingly merging, ushering in a new phase of digital entertainment.
Indian Startups Funding Update: $357.29 Million Raised This Week
Indian Startups Funding Update: $357.29 Million Raised This Week
During the week, Indian startups raised approximately $357.29 million in funding, marked by 6 growth-stage deals and 21 early-stage transactions, while 3 startups chose to keep their funding specifics confidential.
Compared to the preceding week, where 23 startups across early and growth stages garnered about $152.49 million, this represents a remarkable increase in funding activity.
Growth-Stage Deals
In the realm of growth-stage funding, the used car platform Spinny secured $131 million, leading this week’s funding initiatives. Robotics company Chef Robotics achieved $43 million in funding, and Scapia, a finance technology firm focused on travel, raised $40 million in its Series B round, with funding led by Peak XV Partners. Additionally, micro-finance provider Infinity Fincorp, digital storytelling platform Pratilipi, and the defence technology company Tonbo Imaging also obtained financial backing.
Early-Stage Deals
Additionally, 21 early-stage startups collectively raised $62.19 million. The clean energy startup Aerem received a notable $11.7 million in funding, followed closely by RapidClaims, Sweet Karam Coffee—a South Indian food brand, men’s fashion label The Bear House, AI-driven startup Further AI, and edtech platform CollegeDekho among others.
The e-commerce startup Evenflow, transit retail chain Yatrikart, and café chain Bistro57 also managed to secure funding, though they opted not to disclose the amounts raised.
For a comprehensive breakdown of funding, various sources offer detailed insights.
City and Segment-Wise Deals
In terms of city performance, Bengaluru-based startups took the lead with 13 funding deals, trailed by those in Delhi-NCR, Mumbai, Chennai, Indore, and others.
From a segment perspective, healthtech startups emerged as leaders with 5 deals, while both foodtech and e-commerce sectors followed suit with 4 deals each. Mobility, fintech, AI, edtech, and other sectors also participated actively in securing funding.
Series-Wise Deals
This week, Seed funding deals dominated with 10 transactions, followed by Series A, Series D, Debt, Series A, and other categories.
Week-on-Week Funding Trend
Assessing the week-on-week funding dynamics, startup funding soared more than 2.3 times to $357.29 million, in contrast to the previous week’s $152.49 million. The average funding across the last eight weeks hovers around $271.16 million, averaging 25 deals weekly.
Key Hirings
This week witnessed significant leadership appointments across various companies. Uday R. Sharma was appointed as Chief Business Officer – B2B, 3PL, and Cross Border by logistics firm Xpressbees. Shyam Srinivasan, the former CEO of Federal Bank, joined TVS Capital Funds as a Senior Advisor and Operating Partner. Additionally, upGrad’s corporate skilling division announced Sunita Mohanty as the Revenue Head.
Mergers and Acquisitions
Delhivery Limited has declared the acquisition of a 99.4% stake in Ecom Express Limited, a competitor in the logistics space, for a cash sum of up to Rs 1,407 crore. Furthermore, Mayank Kumar’s talent mobility startup, BorderPlus, acquired Onea Care, a German healthcare recruitment firm, marking its first acquisition.
For further details, various sources provide extensive coverage.
Fund Launches/Expansion
Zeca Capital plans to initiate its first fund with a corpus of Rs 150 crore aimed at investing in sustainability-focused startups in India.
Explore multiple sources for series-wise deals with amount breakdowns, extensive details on fund launches, and additional insights.
Layoffs
Zomato has reportedly laid off around 600 customer support associates shortly after hiring them.
Potential Deals
Investment firms Matrix and Blume are backing the direct-to-consumer fashion brand Freakins, while Jai Kisan has secured additional funds in an extended Series B round.
Financial Results This Week
McCain India surpassed Rs 1,200 crore in revenue for FY24; profit dipped by 29%. E-waste recycling company Attero is approaching Rs 450 crore in revenue for FY24. Eruditus recorded Rs 3,733 crore in revenue for FY24, successfully narrowing losses by 83%. Leverage Edu has crossed Rs 180 crore in revenue for FY25.
News Flash This Week
Ola Electric reported 23,430 unit registrations in March, lagging behind Bajaj and TVS. UPI transactions surged by 13.6% in March. IndiQube received SEBI approval for an Rs 850 crore IPO. Hood transitioned to a matchmaking service under the new brand KnotDating. Dream11 has changed its domicile from the US to India. Shadowfax has converted to a public entity ahead of its IPO. Kissht is planning a $225 million IPO and intends to file draft documents by June. Samunnati achieved a revenue of Rs 2,300 crore in FY25, reinforcing its role in the agriculture ecosystem.
Lifestyle Luggage Brand Fur Jaden Secures Funding for Expansion
Lifestyle Luggage Brand Fur Jaden Secures Funding for Expansion
Lifestyle luggage brand Fur Jaden has successfully raised Rs 9.5 crore (approximately $1.1 million) in a pre-Series A funding round, led by the Gruhas Collective Consumer Fund (GCCF).
The financing will facilitate accelerated growth by establishing high-calibre professional teams, enhancing brand visibility, broadening product categories, and expanding omnichannel retail capabilities, stated Fur Jaden in a press release.
About Fur Jaden
Founded in 2015 by Sahil Rajesh Bansal and Karishma Bansal, Fur Jaden aims to revolutionise the fashion and lifestyle accessory sector by altering the way backpacks and luggage are perceived. The brand’s commitment to sustainability, innovation, and design enables it to provide a varied selection of products that meet the dynamic demands of today’s consumers, thereby positioning itself not merely as a product manufacturer but also as a lifestyle ally.
Customer Base and Product Range
Since its inception, Fur Jaden has cultivated a loyal customer base, impressing over 1 million clients with its curated range of offerings. This includes a wide array of products such as luggage, travel duffles, backpacks, and crossbody bags. Demonstrating its commitment to sustainability, 50% of the brand’s product selection consists of an eco-friendly line that features cruelty-free vegan leather and recycled canvas.
Market Outlook
Market research indicates that the Indian market for luggage, bags, and backpacks was valued at Rs 20,400 crore in 2024, with projections estimating it will increase to Rs 29,900 crore by 2030, reflecting a compound annual growth rate (CAGR) of 8% from 2025 to 2030.
Future Goals for Fur Jaden
In the upcoming 16 to 18 months, the brand aspires to reach an annual recurring revenue (ARR) of Rs 100 crore in net revenue. Concurrently, over the next five years, the focus will be on solidifying its status as a premier home-grown lifestyle luggage brand with a strong pan-India footprint.
