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The venture capital funding into Indian startups continues to show a steady rise in November, with deal sizes of approximately $50 million dominating the inflow.
The total venture funding for the third week of November stood at $267 million, cutting across 30 deals. In comparison, the previous week saw $217 million being raised across 26 deals.
With the country amid a funding winter and investors holding back their purse strings, established startups or market leaders with the right credentials are shown to be the preferred recipient. This week saw the likes of Lenskart and Simplilearn raising capital, and this trend is likely to continue in the near future.
November is on its way to recording reasonably good fundraising for the Indian startup ecosystem. However, there is a strong likelihood of a steep drop in capital inflow next month given as it marks the holiday season.
Key transactions
Fintech SaaS startup Lentra raised $60 million from Bessemer Venture Partners, SIG Venture Capital, and Citi Ventures.
Edtech platform Simplilearn raised $45 million from GSV Ventures, Clal Insurance, and DisruptAD.
Eyewear brand Lenskart raised $39.6 million from Chiratae Ventures, DSP India Fund, and Axis Growth Avenues AIF-I.
Diabetes care provider BeatO raised $33 million from Lightrock India, HealthQuad, Orios Venture Partners, Blume Ventures, Leo Capital, and Flipkart Ventures.
Ayurveda startup NirogStreet raised $12 million from Jungle Ventures, Spiral Ventures, ICMG Co-Creation Fund, and angel investors.
IBA Cosmetics, a personal care brand startup, raised $10 million from Singapore-based Believe.
Employee volunteering platform Goodera raised Rs 80 crore ($10 million) from Zoom Ventures, Elevation Capital, Xto10X Technologies, Nexus Venture Partners, and others.
Electric mobility brand Corrit Electric raised $9 million led by early-stage venture capital fund SphitiCap.
EV segment-focused startup Chargeup raised $7 million from Capital-A, Anicut Capital, Giraffe, and angel investors.
AI startup VuNet Systems raised $5 million from Mela Ventures, Athera Venture Partners, Dallas Venture Capital, and TVS Capital Funds.
ReadyAssist, a roadside assistance startup, raised $5 million from Howen International Fund and SPC.
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