Weekly Startup Funding Roundup (September 19 to 24)

While venture capital funding for startups has remained steady in recent weeks, continued volatility in global capital markets and volatile macroeconomic conditions weighed on India’s startup scene last week.

In the week ending September 23, 2022, startups in India raised $188 million through 18 funding deals. In the last week ending September 17, 2022, the cumulative funding of Indian startups was over $240 million. Fintech and technology startups have long attracted the attention of venture capitalists and investors in a particular sector. Agricultural start-ups also receive a steady stream of new funding.

News and deal statistics show that a mid-sized startup receives between $50 million and $75 million in funding. Most of these multi-million dollar funds target early stage startups rather than established ones.

Funding and similar issues among some high-profile startups keep investors away from such ventures. The overall mood of investors against some big investment in an effort was allocated. One of the main causes of negative emotions is the constant economic situation in different economies around the world.

Zopper, Series C – The New Delhi-based startup has raised $75 million in a Series C funding round led by Bengaluru-based private equity fund manager Kreegys. ICICI Ventures, Bessemer Venture Partners and Bloom Ventures also participated in the funding round. Bloom Ventures is currently an investor in Zopper.

Zopper focuses on developing technology to simplify the insurance process. Lite Microfinance Series B – The Ahmedabad, Gujarat-based microfinance startup has raised $24 million in a Series B funding round led by British International Investments.

Nordic Microfinance Initiative, Triple Jump PV and Incofin IM also participated in the funding round. Join Ventures, Series B – A Mumbai-based e-commerce startup founded in 2019 by Tarun Joshi, has raised $23.5 million in a Series B funding round led by MO Alternate Investments.

Convivialité Ventures and DSG Consumer Partners also participated in the funding round. KukuFM, Series B 1 – The Mumbai-based audio platform company has raised $21.8 million in a funding round with participation from The Fundamentum Partnership, Paramark, KRAFTON Inc, 3one4 Capital, Vertex and Verlinvest.

A few months ago, KukuFM raised US$19 million in an investment round led by KRAFTON, 3one4 Capital, Vertex and India Quotient.