The week of 13th to 20th July has been quite a mixed bag for VC inflows. Sure, there has been some activity, but overall, it has been pretty modest, nothing too spectacular.
![Weekly Roundup Of Funding Week](https://www.businessoutreach.in/wp-content/uploads/2024/07/Weekly-Roundup-Of-Funding-Week.webp)
PC: Entrackr
For this particular week, the total funding stood at $226 million across 26 deals. Not bad, right? Especially when compared to the previous week, which saw $128 million, it’s a paltry sum. But here’s the kicker: July, so far, hasn’t been living up to the hype. June was a blockbuster with $1.7 billion in VC funding, and everyone thought July would keep that momentum going. Spoiler alert: it hasn’t. The chances of July hitting that $1 billion mark are looking slim.
It is not all bad news as tons of deal making is happening behind the scenes, and big announcements should roll out over the next couple of months.
Now, into some of the key transactions that went down this week:
- Urban Company: Dharana Capital made a big splash with a secondary transaction worth more than Rs 400 crore ($50 million). That is quite a hunk of change!
- Auxilo Finserve: This education-focused NBFC raised USD 30 million from LeapFrog Investments. Education is always a solid bet.
- BluSmart: The EV startup pulled in USD 24 million from a mix of investors, including responsAbility Investments, Sumant Sinha, MS Dhoni Family Office, and the company’s founders.
- Lenskart: Co-founders Peyush Bansal and Neha Bansal, along with Amit Choudhary and Sumeet Kapahi, infused USD 19.12 million into the eyewear retailer.
- NEWME: Raised $18 million from Accel, Fireside Ventures, and AUM Ventures for fashion e-commerce.
- Aereo: Drone startup raised $15 million from investors like 360 ONE Asset, StartupXseed Ventures, and Navam Capital.
- Namma Yatri: The ride-hailing app is said to have mopped up $11 million from investors like Blume Ventures, Antler, and Google.
- Seeds Fincap: Raised $8.5 million for a fintech startup by Lok Capital and Z47.
- Corvi LED Light: The lighting products design company raised $8 million, led by Enam Investments.
- Nurture Well: This biscuit-maker has raised Rs 50 crore from India Inflection Opportunity Fund of $6 million approximately.
- byteXL : This edtech platform has raised $5.9 million from Kalaari Capital and Michael & Susan Dell Foundation.
- Boon: This Watertech startup raised $5 million, led by Spanish Roca Group Ventures.
- Getepay: This fintech startup raised $4 million in funding from Hyderabad Angels, ITI Growth Opportunities Fund, DBR Ventures LLP, Virendra Sehwag, and others.
While funding might be silent, the action of the Indian startup ecosystem continues unabated. With new venture capital funds emerging like Promaft Partners and Yali Capital, bringing fresh energy into the system.
Not to forget the BYJU’S and Paytm sagas, which are going on and on. BYJU’S is still battling insolvency issues, while Paytm’s financial troubles persist, the losses have widened in Q1 of the fiscal year.
There you go! A week of modest funding but plenty of action and anticipation for what’s to come. Stay tuned!