TICE Funding Index: Slow But Steady Startup Funding Trend Take Over

TICE Funding Index (January 21 - 27, 2024)

OYO's Impending $400 Million Funding Boost from Malaysian Sovereign Fund Khazanah

According to insider sources, OYO is on the verge of securing a substantial $400 million in funding. The funds are expected to be provided by the Malaysian Sovereign Fund Khazanah at an impressive valuation of $6 billion. Although discussions are still in the preliminary stages, if successful, OYO plans to utilize the funds for expansion and to repay its term loan. Additionally, reports suggest that OYO is gearing up for an imminent IPO, marking a significant development since its last primary funding round in July 2021 at a valuation of $9 billion.

NewMe, the Bangalore-Based Fashion Startup, Raises $5.4 Million to Fuel Expansion

In a recent funding round, Bangalore-based fashion startup NewMe successfully raised $5.4 million. Launched in 2022, NewMe had previously secured undisclosed funding from Aum Ventures, 2Am VC, and All In Capital. With this fresh capital injection, NewMe aims to optimize its supply chain, scale up manufacturing operations across the country, and extend its reach to 20 cities. The startup, currently available in only two cities, sells its proprietary clothing brand through both online and offline outlets.

Vivifi Secures $75 Million in Series B Funding from US-based Investors

NBFC startup Vivifi has successfully raised $75 million in a series B funding round led by US-based investors. The funding consists of a combination of $15 million in equity and $60 million in debt infusion. Vivifi plans to utilize the funds to expand its consumer base and increase its workforce, with a current employee count of around 700. The startup has set an ambitious goal of growing its team to 2000 employees within the next 12 to 18 months.

Infra.Market, Mumbai-Based Construction Startup, Raises INR 100 Crore in Debt Funding

Mumbai-based construction startup Infra.Market recently secured support of INR 100 crore in a debenture funding round led by non-banking financial company SK Finance. The funds, obtained through the allotment of unlisted, redeemable, and non-convertible debentures, will be used to fulfill working capital needs and general corporate purposes.

RagaAI's Cutting-Edge Technology Attracts $4.7 Million in Seed Funding Led by PI Ventures

Automated testing startup RagaAI has successfully raised $4.7 million in seed funding with PI Ventures leading the round. Other global investors, including Anorak Ventures, TenOneTen Ventures, Arka Ventures, Mana Ventures, and Exfinity Venture Partners, also participated. RagaAI, which supports various technologies like LLMs, images/videos, 3D, audio, NLP, and structured data, boasts a clientele that includes Fortune 500 companies in the US, Europe, and India.

Namdev Finvest Secures $15 Million in Series B Funding for Economic Empowerment Initiatives

In a series B funding round, Namdev Finvest, an NBFC startup, raised $15 million from institutional investors, including British International Investment. Having already disbursed loans ranging from 4 to 7 lakh at a value of 50,000, Namdev Finvest plans to use the funds to expand its reach, diversify its product offerings, enhance technology, and focus on the economic empowerment of underserved segments.

Stan, Bengaluru's Gaming Startup, Scores $2.7 Million in Pre-Seed Series A Funding

Bengaluru-based gaming startup Stan has secured an impressive $2.7 million in a pre-seed series A funding round. The funding round saw the participation of key new investors, including Aptos Labs, Pix Capital, Maelstrom Fund, and GFR Fund. Stan, which has amassed a user base of $4 million in the past 1.5 years, primarily from Tier II and Tier III cities, aims to democratize infrastructure for creators, leverage AI for community architecture development, facilitate user personalization, and collaborate with gaming legends.