More than $396 million was raised this week by Indian startups ranging from Ather Energy to GoKwik

• ByStartupStory     |    May 14, 2022

The second week of May plunged further after observing a slight increase in funding in its first week. However, between 9th May to 14th May, the ecosystem succeeded to raise around $396 million across 33 deals. This is a 27.7% fall from the $548 million that the ecosystem managed to raise last week with 22 deals. The week only witnessed one mega-deal of Bengaluru-based EV two-wheeler startup, Ather Energy raising $128 million in its Series E round. Although, this week’s most occupied investors were Tiger Global, Sequoia Capital and Venture Catalysts since they have invested in 3 deals each. Along with RTP Global, Blumen Ventures and Better Capital bagging 2 deals each.

Delhivery’s much-awaited IPO worth Rs 5,230 crore has also marked its opening this week. The initial two days were a bit slow for the Gurugram-based logistics unicorn as the IPO has managed only 23% subscription till the end of 2nd day. But the third saw an increase of subscriptions from the QIB quota and was also oversubscribed by 1.63 times on its closing day on 13th May. It plans to list on the stock market on 24th May. 

As trouble for hospitality unicorn OYO, the Federation of Hotel and Restaurant Associations of India (FHRAI) has encouraged the Indian market regulator SEBI to axe the startup’s IPO. Food delivery company Swiggy has also recently acquired Dineout, the dining and online restaurant table booking service provider to take on Zomato’s dine-in business. Edtech giant BYJU’S has also acquired Singapore-based Norwest Executive Education for nearly $100 million. CASHe, an AI-driven financial lending startup obtained Wealthtech. Also, IPO-bound company OYO has acquired Direct Booker, a Croatia-based hospitality service provider.

In addition to these deals, 9Unicorns announced the fifth closure of its first funding at $100 million. This week also witnessed the launch of CoinDCX Ventures, an investment arm of CoinDCX to start its early-chain crypto and blockchain startups in India along with the final closure of BLinC-II, funding initiated by BLinC Invest a Mumbai-based venture capital which was oversubscribed by 100%. And lastly, Razorpay a Bengaluru-based fintech unicorn has also announced its ESOP liquidation program worth $75 million.

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