Indian Startup ecosystem witnessed strong growth in equity capital funding during the first week of November as various Private Equity entities showed renewed interest in domestic startup companies. Large-scale private equity investment companies such as General Atlantic, Premji Invest, and Alteria Capital decided to invest in Indian startups.
Statistics suggest that the startup ecosystem in the country saw total funding of 212 million dollars from 18 investment deals. This is a huge jump in capital funding when compared to the previous week when the total venture funding was posted at 114 million dollars.
The phenomenon of a higher debt component in capital funding continues to exist in the Indian ecosystem signaling corners among investors. Investment companies which are planning to have a long-term investment in Indian startups are highly concerned about the volatility of the market and increasing chances of a global economic slowdown.
Major Funding Deals
Amagi – a SaaS technology provider based in the United States and India raised 82 million dollars in a funding round led by General Atlantic. Reports suggest that General Atlantic will now hold 8 percent equity in the tech startup which was founded in 2008. Amagi offers cloud adoption and evangelized cloud technologies for broadcast.
Hygenco – The renewable energy company based in Haryana raised 25 million dollars in a funding round led by SBICAP Trustee Company Limited. SBICAP is acting as a trustee for SVL-SME Fund in the funding deal. Hygenco Green Energies Private Limited focuses on providing solutions to ] Green Hydrogen & Green Ammonia Industry.
The Sleep Company – Direct to Customer startup raised 21.3 million dollars in a funding round led by Premji Invest. The funding round also witnessed the participation of Alteria Capital and Fireside Ventures. The Sleeping Company based in Mumbai Maharashtra is in the business of manufacturing and selling mattresses.
CashKaro – Gurugram-based cashback and coupons site raised $15.7 million in a funding round led by renowned investment company Affle Global Pte. Ltd. (AGPL). Cashkaro is one of the largest cashback and coupon sites in the country with cashback offers from more than 1500 renowned websites including Amazon, Flipkart, and Myntra.
SolarSquare – A startup company that focuses on Solar Energy raised 12.2 million dollars in a funding round led by Elevation Capital. The round also saw the participation of Lowercarbon, Good Capital, Rainmatter, and several other angel investors.