[Weekly funding roundup June 6-10] Capital inflows continue to rise
It’s been a busy week for India’s startup ecosystem, which has seen the emergence of two unicorns – private companies valued at $1 billion and above – in the form of PhysicsWallah and Purple. Additionally, venture capital funding has topped $500 million in the past week, sounding the trumpet for good days ahead.
June continues to be a bullish month for Indian startups, with the second week of the month seeing an influx of venture capital from $507 million distributed 32 offers. In the previous comparable week, the amount was $326 million.
PW (Physics Wallah) has entered the unicorn club
These developments bring relief to Indian startups, as the ecosystem has been dominated by news of employee layoffs and companies taking cost-cutting measures.
However, it remains to be seen whether this trend will continue in the near future, as other broader macro signals in terms of economic growth forecasts or inflation rates are not really encouraging. These will impact the startup ecosystem in terms of capital inflow.
fintech unicorn CRED raised $140 million in its Series F funding round from GIC, Tiger Global, Sofina Ventures, Falcon Edge and Dragoneer.
Startup Edtech PW (Physics Wallah) raised $100 million from Westbridge and GSV Ventures at a valuation of $1.1 billion.
Digital lending platform FlexiLoans raised $90 million from Maj Invest, Fasanara Capital and existing investors.
Fintech startup Kissht is lifted $80 million from Vertex Growth, Brunei Investment Agency and existing investors.
D2C startup Purplle raised $33 million from Paramark Ventures, Premji Invest, Blume Ventures and Kedaara at a valuation of $1.1 billion.
Way2News hyperlocal short news app launched $16.75 million of WestBridge Capital and venture capitalist Sashi Reddi.
Pepper Content Marketplace Raised Content $14.3 million from Bessemer Venture Partners, Tanglin Venture Partners and Lightspeed India Partners.
Jiraaf investment platform lifted $7.5 million from Accel Partners, Mankekar Family Office, Aspire Family Office and other angel investors.
Proptech Startup Ivy Homes Resurrected $7 million in a mix of equity and debt from Khosla Ventures, Venture Highway, Y Combinator, GFC and others.