As we approach the end of February, the Indian startup ecosystem continues to see muted venture capital investment as recent global developments, including the Russia - Ukraine conflict, continue to create a sense of uncertainty.
The last week of February saw total venture funding of $509 million — a modest rise as compared to $375 million in the previous week — and 30 out of 39 transactions in the early-stage category.
The next few weeks will be crucial for the world's third-largest startup ecosystem. Following the recent global developments, investors may remain bearish and focus more on unit economics and the road to profitability.
Transactions of the week
Digital healthcare startup MediBuddy raised $125 million from Quadria Capital, Lightrock India, Bessemer Venture Partners, and others.
Neobank startup NIYO raised $100 million from Accel, Lightrock India, Beams FinTech Fund, Prime Venture Partners, JS Capital, and others.
Fintech startup Propelld raised $35 million from WestBridge Capital, Stellaris Venture Partners, and India Quotient.
Fintech startup Xoxoday raised $30 million from loyalty management solutions provider Giift.
SaaS startup Shipsy raised $25 million from A91 Partners, Z3 Partners, Info Edge, and Sequoia Capital India's Surge.
D2C startup Happilo raised $25 million from Motilal Oswal Private Equity (MOPE).
Logistics startup FleetX raised $19.4 million from IndiaMart, India Quotient, and BEENEXT.
V-Ensure Pharma raised $17.5 million from Investcorp and Tanas Capital.
SaaS startup Increff raised $12 million from TVS Capital Funds, Premji Invest, and Binny Bansal’s 021 Capital.
Arrivae, an interior designing startup, raised $10 million from Think Investments, Havells Group, and Emerge Capital.
D2C startup Wholsum Foods raised $7 million from the Investment Corporation of Dubai and Fireside Ventures.
Rural social network startup Krishify raised $6.2 million from Omnivore, Ankur Capital, Omidyar Network India, and Orios Venture Partners.
Edited by Suman Singh