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, 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.