[Weekly Funding Roundup] Venture investments in Indian startups decline to $344 million

The second week of May has been quite a tumultuous one for India’s startup ecosystem, with stock markets falling and talk growing of a slowdown in funding momentum.

This week, Indian startups reported total funding of $344 million across 34 deals, a 35 percent decrease from $532 million the previous week.

Given global macroeconomic conditions, the funding euphoria that the startup ecosystem witnessed in 2021 now seems like a distant past, and the stage is being set for a likely downturn. Furthermore, this may cause investors to become more cautious in their investment activities.

deals of the week

Electric two-wheeler startup Ather Energy has raised $128 million in a Series E round from National Investment and Infrastructure Fund Limited (NIIFL), Hero MotoCorp and others.

Fintech unicorn Razorpay raised $75 million in a secondary ESOP sale transaction from Lightspeed Venture Partners and Moore Strategic Ventures.

eCommerce enablement platform GoKwik raised $35 million in a Series B funding round from Think Investments, Sequoia Capital India, Matrix Partners India, and RTP Global.

Edtech startup Skillmatics raised $16 million in a Series B round from Sequoia Capital India and Jalaj Dani Family Office.

Edtech startup iNurture Education Solutions raised $15 million in a combination of debt and equity from ADM Capital.

ApnaKlub, an FMCG wholesale platform, raised $10 million in a Series A round from Tiger Global.

Electric vehicle startup MoEVing has raised $5 million in a seed round from BeyondTeq, Strides One, TradeCred, N+1 Capital and others.

HR technology HONO raised $5 million in a Series A funding round led by Aakash Chaudhry, CEO of Aakash + BYJU.


OYO acquired Europe-based ‘Direct Booker’ in a transaction valued at around $5.5 million.

Wellbeing platform CAS acquired Sqrrl for an undisclosed value and entered the wealth management space.

great learninga BYJU-owned skills enhancement platform, acquired Singapore-based Northwest Executive Education for an undisclosed price.

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