From Scapia To Mythik- Indian Startups Raised $92 Mn This Week - Dailyhunt

Weekly funding in the Indian startup ecosystem has been volatile over the past few months amid ongoing geopolitical distress. In line with the trend, startup funding fell sharply this week after surging over the past week.

Seventeen Indian startups raised $92.2 Mn between May 18 and 22. This marks a 70% decline from $303 Mn bagged by 15 startups in the preceding week.

Funding Galore: Indian Startup Funding Of The Week [May 18 - May 22 ]

Key Startup Funding Highlights Of The Week

• Fintech startup Scapia raised $63 Mn in a fresh funding round led by General Catalyst, becoming the highest funded startup this week. On the back of Scapia's fundraise, fintech became the most funded segment this week with a cumulative funding of $67.1 Mn.
• In terms of deal count, ecommerce retained the top spot with six startups securing fresh capital during the week.
• Seed stage startups saw a capital infusion of $7.6 Mn during the week, up multifolds from $2.6 Mn raised in the previous week.
• Info Edge Ventures was the most active investor this week, backing Anscer Robotics and Trackk.

Startup Fund Developments This Week

• Shastra VC unveiled its third fund with a corpus of $100 Mn to back early-stage startups in deeptech, AI and climate sciences sectors. In a statement, the firm said it will invest between $500K to $3 Mn in intellectual property-led startups from the fund.
• Asset management firm Piper Serica launched Bharat Tech Fund, a new Cat II AIF with a potential size of ₹800 Cr, including a ₹200 Cr greenshoe option. It aims to back Series A and Series B stage deeptech startups.
• PE firm Oister Global launched its third secondary vehicle to back late stage startups. The ACE Fund III has a target corpus of ₹500 Cr corpus, including a ₹250 Cr greenshoe option

Mergers & Acquisitions This Week

OfBusiness' lending arm Oxyzo received board nod to complete acquisition of debt investment and bond distribution platform GoldenPi Technologies Pvt Ltd via share-swap agreement for a deal value of ₹42.4 Cr.

Innovaccer acquired US-based company CaduceusHealth to expand its Flow software platform into full-stack revenue cycle management for outpatient and ambulatory care. As per an ET report, the deal valued CaduceusHealth at $66 Mn.