It hasn’t been the best of weeks for start-up companies based in the country as the so called funding winter continues to stretch through as we complete half of 2022. This week saw slump in investments compared to last week which was also considered to be low compared to the high standards start-up companies set over the past few years. A total of $ 421 million USD was raised by Indian start-up companies this week.
The largest funding for the week went to UpGrad, a Mumbai based ed tech company that raised $ 225 million USD taking up more than half of the week’s investment. After this deal, the value of the firm doubled to $ 2.25 billion USD. Many international based venture capitalists including Mr. James Murdoch participated in this round of funding.
Infra. Market which is a business 2 business e-commerce company based in Mumbai raised was able to receive investments amounting to $ 50 million USD which will be used to scale up their operations and widen their operations internationally. The company now projects to have an export revenue of $ 750 million USD after this funding round.
Deepak Fasteners Ltd which is an industrial fastener producing and selling company was able to raise $ 48 million USD in a round primarily led by Capri Stressed Assets Fund. The company is based in Ludhiana, Punjab.
Chaayos, which is a tea café chain has received investments amounting to $ 45 million USD in their latest round of funding which was primarily led by Alpha Wave Global. The company was founded 10 years ago and with this funding, it is valued at $ 250 million USD, a step closer on their bid to become a unicorn.
Lenskart which is one of the largest eye wear and accessory retailers in the country raised $ 28 million USD in a round also led by Alpha Wave Global. The company is now valued at around $ 5 billion USD. This company has been growing exponentially over the past few months and they valued at $ 4.3 billion USD just a few weeks ago after receiving a $ 100 million USD investment.
Battery Smart which is company that allows exchange and replacement of batteries for electric vehicles also received investments rounding off this list. They raised $25 million USD in their latest round of funding. The company is raised in Gurugram, Haryana and since December, 2021, the company has raised funds twice.
