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Writer's pictureSanjana Ratkal

Weekly Funding News Summary

November has been a strong week in the funding and investment sector.

This week Indian Startups raised $98 Mn, which is almost 45% down from last week’s total funding of $186 Mn. Here are the top events that transpired this week-


1. Healthkart raises $65M funding from Temasek, A91 Partners

  • TrueBasics, HKVitals, bGreen, Nouriza, and MuscleBlaze are among the eight supplement brands owned by Healthkart.

  • Tata 1mg owns Temasek Holdings, and A91 Partners contributed nearly $65 million to Healthkart's funding round. This is the company's first funding round of the year.

  • Healthkart's board of directors approved a special resolution to issue 10 equity shares and 3,08,547 convertible preference shares for Rs 536.52 crore ($65 million) at an issue price of Rs 17,388 per share, according to regulatory filings.

2. HireQuotient, Motovolt and Fresh From Farm raise early rounds

  • Binny Bansal, Flipkart's co-founder, led an undisclosed funding round for Hirequotient, a Singapore-based skill assessment platform.

  • ReNew Power Chairman Sumant Sinha, Great Learning CEO Mohan Lakhamraju, Udaan Co-founder Sujeet Kumar, Cred Founder Kunal Shah, and other South East Asian and US investors invested $1.8 million in a pre-Seed round in December 2021.

  • The funds will be used to provide 360-degree hiring intelligence as well as to establish new global partnerships.

3. Koo raises over $6M led by Tiger Global, Accel Partners

  • Tiger Global and Accel Partners led a new round of funding for Koo App, which raised Rs 51.08 crore ($6.3 million).

  • Kalaari Capital, 3one4 Capital, and Dream Incubator (DI), a Tokyo-based private equity firm, also participated in the round. Entracker was the first to break the story.

  • Koo raised approximately $10 million in two tranches in February of this year from investors including Capsier Venture Partner, Ravi Modi Family Trust, Ashneer Grover, FBC Venture Partners, Adventz Finance, and others.

  • According to the report, Tiger Global and Accel Partners each contributed Rs 16.47 crore to the funding round.

  • Kalaari Capital and 3one4 Capital each contributed Rs 8.24 crore, while Dream Incubator contributed Rs 1.65 crore.

4. Fintech startup indiagold closes Series A funding at $22M

  • The fintech startup IndiaGold has raised $22 million in Series A funding.

  • Alpha Wave, 3one4 Capital, PayU, Leo Capital, Better Tomorrow Ventures, and Rainmatter Capital were among the investors.

  • The Series A round was divided into two parts: $12 million in July 2021 and $10 million in August 2022.

  • Throughout the country, Indiagold provides instant gold loans as well as secure gold locker services.

  • The fintech startup is developing a platform to enable efficient and responsible monetisation of household assets by connecting customers and financial service provider

5. D2C retail brand RapidBox raises $4.5M Series A funding led by SIG Venture Capital

  • Rapidbox, a Bengaluru-based direct-to-consumer (D2C) brand, has announced a $4.5 million Series A round of funding led by Susquehanna International Group's Asian venture capital arm, SIG Venture Capital.

  • RapidBox was established to fill a gap in the footwear industry by improving product quality and the consumer experience.

  • With an in-house line, the brand controls the manufacturing of goods, allowing it to run quality checks and monitor the entire supply chain. The low-cost retailer sells via its website as well as ecommerce platforms such as Flipkart and Myntra.

Other big deals

  • PoshVine, a provider of reward management solutions, has been acquired for an undisclosed sum by 'Razorpay,' a fintech unicorn startup.

  • Mahindra Logistics has acquired Rivigo's B2B express business.

  • Axis Bank has agreed to purchase a 9.94% stake in Go Digit Life Insurance for between INR 49.9 Cr and INR 69.9 Cr.

  • HCL Technologies has paid an undisclosed sum for a majority stake in GUVI, an edtech startup.

  • The American financial services conglomerate Visa has invested in M2P, a Bengaluru-based fintech startup.

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