Weekly Start-up Funding Roundup (August 1 to 5)

In the first week of August 2022, the start-up ecosystem in India did not see much increase in venture funding as capital inflow got disrupted due to various reasons.

The total funding in the first week added up to 111 million dollars, which got invested in nearly 22 deals. In the last week of July 2022, the total funding amounted to nearly 80 million dollars.

Major Funding Rounds

Bebe Burp, Seed Round – In the last week, Surat-based baby food company, Bebe Burp raised nearly, 95000 dollars in the second seed funding round.

The first seed funding round of the baby food company was led by LetsVenture and Lead Angels Network along with several other investors. The company raised nearly, 250000 dollars in that funding round.

Evify, Seed Round – Surat-based EV Logistics Start-up, Evify, raised 100000 dollars in seed funding in a funding round led by WeFounderCircle.

Dezerv, Series A Round– A SEBI registered portfolio manager, Dezerv, based in Mumbai, Maharashtra, raised 20.7 million dollars in a series A funding round participated by 5 investors.

The Seed round funding of the investment management company happened in September last year, when it raised nearly 7 million dollars from more than 23 investors.

WebEngage, Series B Round – Online marketing company WebEngage which focuses on B2B services, raised 20 million dollars in Series B round funding this week. The funding round was led by Singularity Growth Opportunities Fund and SWC Global and participated by various investors including existing investors such as India Quotient, Blume Ventures and IAN Fund.

Twid, Series A Round – Twid, a start-up in the business of online rewards and loyalty programmes, on Wednesday announced it has raised nearly 12 million dollars in a series a funding round led by Japanese e commerce and retailing giant, Rakuten.

Global heavyweights such as Google, JAFCO Asia, January Capital and ICMG Partners also participated in the funding round.

River, Seed Round – Bengaluru-based 2-wheeler EV start-up, River, raised 13 million dollars in a seed funding round led by LowerCarbon Capital and Toyota Ventures.  The earlier seed funding happened in March 2021 in which the startup raised 2 million dollars in a funding round led by Israel-based Maniv Mobility and San Francisco-based Trucks VC.

Jify, Series A Round – Start-up focussed on increasing financial inclusivity, Jify, raised nearly 10 million dollars in a Series A funding round led by Accel and Nexus Venture Partners.

Farmley, Series A Round – Noida-based Food startup, Farmley, raised 6 million dollars in a Series A funding round led by Singapore-based investment company, DSG Consumer Partners and Delhi-based LLP, Alkemi Growth Capital.

CredAble, Direct Investment – Fintech start-up focussed on providing financing services t supply chain services, CredAble, raised 9 million dollars in a funding round led by Axis Bank and OAKS Asset Management.

With the current geopolitical crisis around the world persisting, high volatility in the global capital markets is expected to continue for a period of time.

In such a situation, the slowdown in venture capital funding and similar funding inflow is expected to subsist for the upcoming few months.