Weekly Startup Funding and Acquisitions Report [24 – 29 Jun]
                     Weekly Startup Funding and 
Acquisitions Report [24 – 29 Jun]
Introduction
• This week, 25 Indian startups raised around $211 million in funding. These deals count 9 growth-stage 
deals and 15 early-stage deals. 
• Moreover, one growth-stage startup kept its transaction details undisclosed.

Growth-stage deals
• This week, nine growth-stage startups raised $150.84 million in funding. 
• Edtech company upGrad led with $35 million, followed by Rocketlane ($24M), Smartworks ($20.24M), Rare 
Rabbit ($18M), and Rupeek ($15M). Doceree, Bluestone, Matter, and NovaVente also raised funds, while 
Celebal Technologies received an undisclosed amount.
Early-stage deals
• Fifteen early-stage startups raised $60.13 million this week. 
• Zyod, a B2B apparel sourcing platform, led the list, followed by AI health startup Cloudphysician, D2C dairy brand 
Sid’s Farm, agri-tech firm Two Brothers Organic Farms, and fabless semiconductor startup Morphing Machines.
• Other notable fundraisers include CheQ, Nitro Commerce, and Neo San, a hazardous waste management 
platform.
City and segment-wise deals
• In terms of the city-wise number of funding deals, Bengaluru-based startups led with 10 deals followed by 
Delhi-NCR, Jaipur, Mumbai, and Ahmedabad among others.
• Segment-wise, fintech startups grabbed the top spot with 4 deals. E-commerce, Manufacturing, Agritech, 
and Healthtech startups followed this list.

Week-on-week funding trend
• On a weekly basis, startup funding slipped 76.73% to $211 million as compared to around $906 million 
raised during the previous week.
• The average funding in the last eight weeks stands at around $404 million with 28 deals per week.
Merger and Acquisitions
• London-based private equity firm Finnest has acquired a majority stake of 53.75% in Bengaluru-based 
cloud kitchen startup, Kitchens@, making it a subsidiary of Finnest Holdings.
• Additionally, Nazara-backed Nodwin Gaming announced that its Singapore-based subsidiary will increase 
its stake in Berlin-based Freaks 4U to 100% through a share swap deal. 
• Nodwin’s Singapore unit, currently holding 13.51%, will initially raise its stake to 57%, with the remaining 
43% to be swapped later. 
• The total deal is valued at Rs 271 crore ($32.6 million).
Conclusion
• This week, startups saw a significant 77% funding drop to $211 million. 
• BizDateUp was the only new startup-focused fund launched. 
• Goldman Sachs reports Zomato now leads the Indian food delivery market with a 56-57% share, 
outpacing Swiggy. 
• Zomato is projected to grow at a 31% CAGR with higher profit margins. 
• Flipkart launched “super.money” in the fintech market, offering real cashback and faster UPI payments, 
with plans for credit cards and loans. 
• Indian tax authorities are investigating online gaming companies for cashback practices. 
• Education lender Avanse Financial filed for a Rs 3,500 crore IPO, reporting a Rs 342.4 crore net profit in 
FY24.
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