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Indian startups managed to raise $130.2 Mn between October 26 and October 30, down 29.2% from $184 Mn in the previous week Ecommerce led the sectoral funding charts this week, with nine deals bringing in $33.4 Mn Blume Ventures and Antler emerged as the most active investors this week and backed three startups each Indian startup funding activity remained muted in the last week of October. Homegrown new-age tech ventures managed to raise $130.2 Mn between October 26 and October 30, down 29.2% from $184 Mn in the previous week. However, deal activity remained strong. Thirty two startups bagged funding this week, up 88% from from 17 a week earlier. Funding Galore: Indian Startup Funding Of The Week [Oct 26–30] Key Startup Funding Highlights Of The Week - Ecommerce led the sectoral funding charts this week, with nine deals bringing in $33.4 Mn. Troovy’s $10.5 Mn and Ace Blend’s $9.9 Mn rounds did much of the heavy lifting, together accounting for 61% of the sector’s funding this week. - AI was second-placed this week, with five startups raising $30.4 Mn. Simplismart’s $14 Mn round and Live2.ai’s $13.7 Mn infusion contributed 91% to the total haul this week. - Five advanced hardware and technology startups bagged $6.8 Mn this week, while the enterprise services sector also saw three deals worth $9.5 Mn. - On the investor front, Blume Ventures and Antler emerged as the most active investors this week and backed three startups each. Startup IPO Updates Of The Week - SEBI has greenlit appliance maker Atomberg’s proposed ₹450 Cr IPO, which comprises a fresh issue of shares worth up to ₹450 Cr and an OFS component of up to 7.65 Cr shares. - Edtech startup Imarticus Learning plans to file its DRHP via the confidential pre-filing route in the next two to three months. It is eyeing a ₹1,000 Cr IPO, up from its earlier planned issue size of ₹750 Cr. Startup Fund Updates This Week - Unacademy cofounders Gaurav Munjal and Roman Saini are raising a ₹700 Cr venture capital fund, Longshot Capital, to back AI and deeptech startups. Startup M&As This Week - Nasdaq-listed Freshworks has acquired Israel-based AI startup Robusta Dev for an undisclosed amount to strengthen its Freshservice platform and bolster its AI stack. - AI-native cybersecurity startup Protectt.ai plans to acquire a controlling stake in AIShield, an AI security platform incubated at Bosch Global Software Technologies, through a deal involving primary and secondary components. Bosch will retain a minority stake in the latter. Other Developments Of The Week - AI unicorn Sarvam AI is in talks to raise around $300 Mn from Nasdaq-listed IT services company Cognizant in a round that could value the Bengaluru-based AI giant at $3.5 Bn-$4 Bn, more than double its previous valuation of $1.5 Bn. - Aerospace technology startup Parsec Aerospace is in talks to raise around $10 Mn in a round led by Nexus Venture Partners, with participation from existing backers, including Lightspeed Venture Partners. - AI-powered trading platform Tradl has raised $4.1 Mn in a seed round led by Nexus Venture Partners and Stellaris Venture Partners. - Fintech startup axiTrust is in talks to raise around $5 Mn in its Series A round, likely to be led by Singapore-based Argor.vc. - Traveltech startup Holiday Tribe is also in discussions to raise around ₹50 Cr from the likes of RPSG Capital Ventures and others. The round is yet to be finalised. - Two funds managed by Baillie Gifford have marked down their holdings in VerSe Innovation, the parent of DailyHunt and Josh, by as much as 80% over different time periods. - D2C cat food startup Smylo is in advanced talks to raise around ₹30 Cr via a mix of equity and debt. While a new VC firm is likely to join its cap table, existing backer DSG Consumer Partners is also expected to participate. - CCI has cleared Prosus’ proposal to invest $100 Mn in IPO-bound fintech startup Navi for a minority stake. This is Navi’s first institutional fundraise.
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