This week, 37 Indian new enterprises received funding, with 32 receiving a total of $806.21 million. Rapido received the most significant subsidies of around $180 million, followed by Isprava and Observe. AI raised $130 million and $125 million separately. Last week, 27 new local businesses raised $955.14 million in subsidies.
Oxyzo, OfBusiness’ financial arm, joined the unicorn club this week after raising $200 million in its Series A – the most elevated Series A investment in the Indian startup ecosystem – from Alpha Wave, Tiger Global, Norwest Venture Partners, and Creation Investments. With this, the Indian startup ecosystem is on the verge of celebrating 100 years of unicorns.
Kunal Shah was the most active financial backer, carrying out three checks. Aside from Shah, Tiger Global and NB Ventures have participated in two transactions this week.
This week, 10 new development and late-stage firms raised funds, including Rapido’s $180 million round, Isprava’s $130 million round, and Observe.ai’s $125 million round.
The Tamil Nadu government has set up INR 75 crore to create an iconic State Startup Hub in Chennai. The state government has also set aside INR 50 crore for the Emerging Sector Seed Fund, making equity investments in state-based entrepreneurs and leveraging funds from institutional investors.
Inflection Point Ventures (IPV), an early-stage angel investment business, has established its AIF CAT II Physis Capital, a $50 Mn venture capital fund.
Physis Capital will have a corpus of $50 Mn with a greenshoe option of an additional $25 Mn and intends for the first closure of $20 Mn.
Cypher Capital, a venture capital firm located in the United Arab Emirates, has announced the formation of a worldwide $100 million blockchain-focused fund. The VC company has set aside 40% of the funds for India’s budding blockchain and crypto businesses.
CrazyLabs, a mobile game developer, made a $1 million investment in the Indian game design business. Coinbase Ventures collaborated with Buidlers Tribe, an Indian startup, to organize a Startup Pitch Session to support the Web3 ecosystem in India.
The top five chosen firms will compete for a prize pool of $1 million from Coinbase Ventures, as well as a $25K grant and mentorship support from Belief DAO.
How Startup funding raises step by step!
