You are currently viewing [Weekly funding roundup Jan 24-28] Indian startups raise over $1.5B

[Weekly funding roundup Jan 24-28] Indian startups raise over $1.5B

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 Swiggy.

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, Moglix, and Ola Electric raising funds at increased valuation.

The week also saw the HR tech SaaS startup Darwinbox 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 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,, and others.

Healthcare focused startup Stanplus raised $20 million from HealthQuad, Kalaari Capital, and HealthX Capital Singapore.

Tech startup 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.


D2C unicorn The Good Glamm Group acquired a majority stake in Organic Harvest.

Mensa Brands has invested in the online gardening solutions brand TrustBasket.

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