New Delhi: According to reports, Indian startups raised a total of $112 million across 11 rounds this week. This represents a significant decline of 72% compared to the same period last year when startups raised $407 million across 62 rounds. In comparison to last week, funding raised between 28 rounds fell by 49% from the $221 million raised across 28 rounds.
Early-stage investments accounted for 71% of the total funds raised this week, with $79.3 million going towards this stage, while seed-stage representing 5% of the investments stood at $5.5 million
In funding news, Safe Security, a cyber-risk mitigation firm founded by Saket Modi, has raised $50 million in a funding round dubbed Series B, led by Utah-based venture capital fund Sorenson Capital. Other investors in the round include Fidelity Investments’ venture capital arm Eight Roads, Telstra Ventures, and WTI. Belagavi-based diversified contract manufacturer Aequs also received an investment of Rs 225 crore in a funding round led by PE firm Amicus Capital, with participation from existing investors.
Coca-Cola India acquired a 15% stake in food-delivery platform Thrive, owned by Hashtag Loyalty. This marks Coca-Cola India’s first investment in an Indian startup. The capital was raised at a pre-money valuation of Rs 104.68 crore, with Jubilant FoodWorks Limited, an investor in the company, confirming the news in a stock exchange filing.
Heart-focused healthtech startup Tricog Health announced that raised $8.5 million inround, dubbed Series B2, from investors including Omron Health Care and Sony Innovation Fund. Returning investors in the round included The University of Tokyo Edge Capital, SG Innovate and Inventus Partners. This round takes the total amount raised by the Bengaluru-based startup to $30 million.
Finally, the newly launched startup leadership school, Mesa School of Business, has raised Rs 34 crore (about $4 million) in a seed round of funding led by Elevation Capital. Six angel investors, including Meesho founder Vidit Aatrey, Cred founder Kunal Shahand Urban Company founder Abhiraj Bhal, also participated in the funding round.
Overall, while funding for Indian startups remained muted this week, some startups managed to secure significant investments to help them scale their businesses.