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The month of November is holding steady in terms of venture capital inflow into Indian startups, and companies from segments like healthcare and petcare are getting traction from investors.
The total venture funding raised by Indian startups in the second week of November stood at $217 million, cutting across 26 deals. In comparison, the previous week saw total funding of $212 million.
The steady flow of venture capital is a positive sign for the Indian startup ecosystem, given the gloomy talk of funding winter. However, the pace of money coming into startups has slowed down considerably, and investors are taking more time to make their decisions.
(L-R) Masai School co-founder Prateek Shukla, cricketer Mithali Raj, footballer Bhaichung Bhutia and Masai School co-founder Yogesh Bhat
However, at the recently concluded three-day Techsparks 2022, the 13th edition of YourStory’s flagship startup-tech event, venture capitalists and investors participating in the summit were in unison in their view that the talk around funding winter was overblown as the fundamentals of the ecosystem were very sound. They felt it was just a matter of time before venture capital funding comes back in full force.
Key transactions
Global Dental Services (GDS) raised $66 million from Investcorp, Tybourne Capital Management, SeaLink Capital Partners, and existing investors.
Hyderabad-based HRtech leader Keka secured Series A funding of $57 million from WestBridge Capital.
EV manufacturer GreenCell Express raised $55 million from Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and Clean Technology Fund (CTF).
Pet care startup Supertails raised $10 million from Fireside Ventures, Saama Capital, DSG Consumer Partners, and angel investors.
Edtech startup Masai School raised $10 million from Omidyar Network India, India Quotient, Unitus Ventures, Mithali Raj, and Bhaichung Bhutia.
CureBay, the Odisha-based healthtech startup, has raised Rs 50 crore ($6.1 million approx) in a Series A round of funding led by Elevar Equity.
Drone startup Garuda Aerospace raised $5 million in funding from a large infra development firm, a group of HNI and angel investors from India, the UAE, and Singapore.
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