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[Funding Galore] From Bounce Infinity To CapGrid —Indian Startups Raised $48 Mn This Week

Around $48 Mn has been raised across 12 deals between January 30 and February 4

The week saw EV two wheeler manufacturer Bounce Infinity raising $20 Mn from Sequoia Capital India

Logistics marketplace startup Vahak has acquired Instalogist, a truck booking app and load marketplace platform

The year 2023 had a decent start with bagging $836 Mn funding across 58 deals. However, this didn’t continue long and we saw the last week of January raising $99.6 Mn investment by the Indian startup ecosystem. Come February and the scenario remained intact. Between January 30 and February 4, Indian startups collectively raised a mere $48 Mn across 12 deals – lowest since last year. This is almost 52% lower than $99.6 Mn that the ecosystem raised last week between January 23 and 28. And 90% lower than $455 Mn raised by Indian startups collectively between January 16 and 21. 

The week’s biggest cheque was raised by EV two wheeler manufacturer Bounce Infinity. After laying off 3%-4% of its total  workforce, the startup managed to secure $20 Mn from its existing investor Sequoia. 

The second highest funding this week was raised by digital freight management startup Freighitfy, which raised $12 Mn in a funding round led by Sequoia Capital, TMV, Alteria Capital. 

B2C cloud manufacturing SaaS startup CapGrid raised the third highest funding this week at $7 Mn led by venture capital firm Elevation Capital.

Sequoia Capital was the busiest investor of this week with its participation in two deals.

Funding Deals Of The Week

Other Key Developments

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