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[Weekly Funding Roundup] Indian startups see capital inflow rise, LeadSquared becomes unicorn


In June, Indian startups witnessed capital inflow increasing in the ecosystem despite the commentary of an investment slowdown amid weak global economic cues.

This week, Indian startups garnered a total of $800 million in venture funding, cutting across 27 deals, compared to $657 million in the previous week.

Of the 27 deals, 16 were early-stage transactions, followed by seven growth-stage and four late-stage deals.

The fourth week of June also saw several startups raising funding rounds worth $50 million and above. Moreover, LeadSquared entered the coveted billion-dollar unicorn club this week.

Transactions of the week

Neobanking platform Stashfin raised $270 million in equity and debt in a Series C round from Uncorrelated Ventures, Fasanara Capital, Abstract Ventures, Altara Ventures, Kravis Investment Partners, and Snow Leopard.

Sales automation platform LeadSquared raised $153 million in a Series C round from WestBridge Capital and Gaja Capital at a valuation of $1 billion.

Cashify, a re-commerce marketplace, raised $90 million in a Series E funding round from NewQuest Capital Partners, Prosus, Bessemer, Blume Ventures, and Olympus Capital.

Edtech startup Leap Scholar raised a Series D round worth $75 million from Owl Ventures, Steadview Capital, Paramark Ventures, Jungle Ventures, and Sequoia Capital India.

Tea cafe chain Chaayos raised $53 million from Alpha Wave Ventures, Elevation Capital, Tiger Global Management, and Think Investments, in a Series C round.

Electric vehicle charging network startup Statiq raised $25.7 million in its Series A round led by Shell Ventures.

Agritech startup Waycool raised $25 million in equity led by 57 Stars LLC, a Singapore-based independent global alternative investment firm.

Fintech startup WeRize raised a pre-Series B round of $15.5 million from 3one4 Capital, Kalaari Capital, Picus Capital, Orios Fund, and Sony Innovation Fund.

Biotech startup Immuneel Therapeutics raised $15 million from Eight Roads Ventures, True North Fund VI LLP, and F-Prime Capital in a Series A round.

Fintech startup FinBox raised $15 million in a Series A funding round from A91 Partners, Aditya Birla Ventures, Flipkart Ventures, and Arali Ventures.

Microfinance lender Annapurna Finance raised $15 million in a Series A2 funding round from Proparco, the private-sector financing arm of the French Development Agency (AFD).

Open marketplace for road transportation Vahak raised $14 million in a Series A round from Nexus Venture Partners, Foundamental, iSeed Ventures, Leo Capital, RTP Global, and Titan Capital.

Payment solutions startup PayGlocal raised $12 million in a Series B round from Tiger Global, Sequoia Capital India, and BEENEXT.

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