The month of January has ended on a very strong note as weekly capital inflow into Indian startups crossed over $1.5 billion, with the week also seeing the emergence of a new decacorn in the form of .
The last week of January witnessed total funding of $1.55 billion as compared to $433 million in the comparable previous week period. The quantum jump in the capital flow was primarily due to unicorns like Swiggy, , and raising funds at increased valuation.
The week also saw the HR tech SaaS startup entering the coveted unicorn club.
Swiggy has become a decacorn.
The question now remains whether this funding momentum will continue in the coming months, given the background of a correction in the stock market and its likely impact on the private market investments.
Key deals
Foodtech unicorn Swiggy raised $700 million at a valuation of $10.7 billion from Invesco, Baron Capital Group, Sumeru Venture, and others.
B2B marketplace Moglix raised $250 million at a valuation of $2.6 billion from Tiger Global and Alpha Wave Global.
Ola Electric raised $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others at a valuation of $5 billion.
SaaS startup Darwinbox raised $72 million at a valuation of over $1 billion from Technology Crossover Ventures (TCV), Salesforce Ventures and others.
Other transactions
B2B startup ShopKirana raised $38 million from Oman India Joint Investment Fund, Sixth Sense Ventures, Info Edge, and others.
Vyapar, an accounting and inventory software startup, raised $30 million from WestBridge Capital, IndiaMart, India Quotient and others.
Healthcare startup Smiles.ai raised $23 million from Alpha Wave Incubation, Sequoia Capital India, and Chiratae Ventures.
Raise Financial Services raised $22 million from BEENEXT, Mirae Asset Venture Investments, 3one4 Capital, Rocketship.vc, and others.
Healthcare focused startup Stanplus raised $20 million from HealthQuad, Kalaari Capital, and HealthX Capital Singapore.
Tech startup SuperOps.ai raised $14 million from Addition, Tanglin Venture Partners, Matrix Partners, and Elevation Capital.
Digital skills assessment platform iMocha raised $14 million from Eight Roads Ventures, Upekkha, and Better Capital.
Mobile app builder Vajro raised $8.5 million from Five Elms Capital.
Agritech startup Our Food raised $6 million from 3Lines Venture Capital, C4D Asia Fund.
Crypto investment app Flint raised $5.1 million from Sequoia Capital India, GFC, Coinbase Ventures, Hashed, IOSG, Better Capital, and others.
Edtech startup Growth School raised $5 million from Sequoia Capital India, Owl Ventures and angel investors.
M&A
D2C unicorn The Good Glamm Group acquired a majority stake in Organic Harvest.
Mensa Brands has invested in the online gardening solutions brand TrustBasket.
Edited by Kanishk Singh