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Weekly Startup Funding Roundup (September 26 to 30)

by Thomas Babychan
October 3, 2022
in Business, Events, India News, Markets, News, Other, Popular, Startups, Stories, Tech, Trends
Reading Time: 2 mins read
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Startups by The Week
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In the last week of September 2022, Indian startup ecosystem continued to witness depression in the venture capital funding as macroeconomic condition around the globe remain highly volatile. Slow rate of funding from venture capital entities and hesitation shown by investors to put money in new age startups hurt Indian startup ventures very badly.

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From September 26th to 30th, Indian startup ecosystem saw a total venture capital funding of 140 million dollars from 19 different funding deals. This is a huge dip in funding when compared to the previous weeks. From September 19th to 23rd, the total funding inflow to Indian startup ecosystem was 188 million dollars.

Out of nineteen funding deals which occurred during the week, only three deals saw a price more than 5 million dollars.

With a funding winter in place for longer duration and highly volatile capital markets across the globe, financial position does not look good for Indian startup ecosystem. The decision of investment giant softbank group to layoff 30 per cent employees from Vision Funds are also going to have huge impacts of funding in indian startups.

Major Funding Deals

Molbio Diagnostics – Medical Equipment manufacturing startup based in Goa raised 85 million dollars in a funding round led by Temasek and Motilal Oswal Alternates.

With the latest round of funding from Singapore based Temasek, Molbio Diagnostics founded by Sriram Natarajan is currently valued at 1.6 billion dollars making it 108th unicorn company in indian startup ecosystem after Tata 1Mg.

Signzy, Series B – Bengaluru based Fintech startup founded by Ankit Ratan, Ankur Pandey, and Arpit Ratan in 2015 raised 26 million dollars in a funding round participated by Gaja Capital, Vertex Ventures and Arkam Ventures.

Vertex Ventures and Arkam Ventures are already existing investors in the digital banking infrastructure enabler company. Gaja Capital is a private equity firm based in Mumbai, Maharashtra.

Elucidata, Series A – Delhi based technology startup which concentrates on biomedical data raised 16 million dollars in a series A funding round led by Eight Roads Ventures.

Funding round also saw participation of investors such as F-Prime Capital, IvyCap Ventures, and Hyperplane Venture Capital.

Elucidata was founded in 2015 by Abhishek Jha, Swetabh Pathak, and Richard Kibbey

Tags: #startups
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Thomas Babychan

Thomas Babychan is an experienced business and economic journalist with a focus on international trade, stock market, banking, and multilateral organizations. He also has expertise in international relations and diplomacy.

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