TICE Funding Report: Startups Raise $108.7M, Renewbuy Leads Funding

The funding data of Indian startups from  July 14 to July 21, 2023, provides valuable insights into the funding landscape. In this period, several startups secured funding across various funding types. Read the report to know more.

Sonu Vivek
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The funding data of Indian startups from  July 14 to July 21, 2023, provides valuable insights into the funding landscape. In this period, several startups secured funding across various funding types, including Seed, Series A, Series B, Series E, and Conventional Debt. Let's delve into the key findings and highlight the significant aspects of the report.


As per the data compiled by TICE News, a total of 19 startups raised funding (including undisclosed funding rounds) between July 14 - July 21. The total funding amount raised by Indian startups comes to $108.77M (excluding undisclosed funding rounds). 

Top 3 Startups with the Highest Funding Raised:


Renewbuy, an insurtech startup, secured $40 million in funding from Dai-ichi Life Holdings, a Japanese insurance major, as part of its ongoing series D fundraising, valuing the firm at approximately $364 million, with Dai-ichi Life Holdings obtaining around 11 percent stake.

Furlenco, the furniture rental startup raised $36.5 million from Sleepwell. The company was founded in 2012 by 

Ajith Karimpana. 

Ati Motors, an autonomous industrial robots maker, secured $10.85 million in Series A funding led by True Ventures, with participation from existing investors Blume Ventures, Exfinity Ventures, and MFV Partners. Founded in 2017 and now under the leadership of Saurabh Chandra, the company specializes in manufacturing autonomous robots for industry use, and streamlining warehouse automation.


Startup Acquisitions This Week:

  1. Fashion startup Styched has acquired online casual sneaker startup Flatheads for an undisclosed amount.
  2. Bureau, a fraud detection startup, not only raised an extended Series A funding round this week but also completed the acquisition of Y-Combinator backed identity verification startup inVOID.
  3. Y Combinator-backed Decentro has acquired Mumbai-based SaaS fintech platform Neowise Technologies for an undisclosed amount in a cash and share deal.
  4. Plus91Labs, a cloud consulting and IT service, has acquired Pixely, a company specializing in customized solutions for the Southeast Asian market.

Major Headlines This Week:

  1. Reliance Brands is currently in talks to acquire Bollywood actress Alia Bhatt’s children’s wear brand, Ed-a-Mamma, for an estimated INR 300 – 350 Cr.
  2. Troubled quick commerce startup Dunzo is seeking to raise $20 Mn from its existing backer Reliance Retail.
  3. Ravi Lambah, sovereign fund Temasek’s India head and head of the investment group, stated that the fund intends to invest $9-10 Bn in India over the next three years.
  4. Beleaguered PharmEasy is in discussions to raise INR 2,000 Cr - INR 3,000 Cr to repay the loan it took from Goldman Sachs.

Name of the Startup

Founding Year

Funding Type

Funding Raised


Ati Motors 2017 Series A 10.8M True Ventures, Athera, Blume, Exfinity Venture Partners, MFV Partners
Metabook XR 2019 Seed Undisclosed EvolveX, We Founder Circle, Bhawna Bhatnagar, Neeraj Tyagi, Vikas Aggarwal
Superbottoms 2014 Angel Undisclosed Alia Bhatt
Louis Stitch 2019 Unattributed 609K Space Teleinfra
DusMinute 2017 Series B 1.4M IPV, Bandana Kankani
Blitz 2020 Seed 3M India Quotient, Better Capital, Titan Capital, and First Cheque. Renowned investors like Kunal Shah, Farid Ahsan, Abhinav Jain, Rahul Dash, Prabhkirandeep Singh, Ishendra Agarwal, Kalpak Chhajed, Arjun Vaidya, Gaurav Pushkar, Piyush Kedia, and Anshoo Sharma
BhujiaLalji 2021 Seed Undisclosed BIKAJI 2018 Seed 3.6M Stellaris Venture Partners, Elevation, Emergent Ventures, Kris Rudeegraap, Sreedhar Peddineni, Khadim Batti, Deepak Anchala, and Krish Mantripragada.
Solethreads 2019 Series A 3.7M Fireside Ventures, DSG Consumer Partners, Saama Capital
Hustle Energy Drink 2022 Seed 1.34M Parth Ventures, Vijay Shekhar Sharma, Keki Mistry, Vishesh Khurana, Vidur Talwar, and Anirudh Somani.
RenewBuy 2015 Series D 40M Dai ichi Life Group
Jayem Automotives 1960 Unattributed Undisclosed Tube Investments of India
Just Learn 2020 Seed 198K -
Regrip 2021 Angel Undisclosed Suniel Shetty
Redesyn 2016 Series A 426K Real Time Accelerator Fund
Furlenco 2012 Series D 36.5M Sleepwell
Stimuler 2022 Seed 1M -
PrikusTech 2018 Seed 6.2M -
Aayush Bharat 2020 Seed Undisclosed JITO Incubation & Innovation Foundation