It looks like the Indian startup ecosystem experienced a slowdown in funding deals for the week ending April 1, with only $102 million raised across 14 deals, and no mega deals reported. This represents a 43% decline from the previous week’s funding, and an 87% drop from two weeks ago. The ecommerce sector led the way with $52.7 million raised across five deals, while B2C businesses attracted the most funding despite facing challenges, with nine deals out of 14. In terms of acquisitions, Medi Assist is acquiring Raksha Insurance, while LoanTap has acquired Unofin, and Wiggles has acquired its rival Capt Zack. Additionally, Mamaearth has put its IPO plans on hold, while OYO has reduced the size of its IPO offer amid market volatility, and PhonePe has cancelled its acquisition of ZestMoney.
Indian startup ecosystem raised $102 Mn across 14 deals between March 27 and April 1, 2023, which is 43% lower than the total funding raised by Indian startups the previous week. During March 20 and 25, Indian startups raised $180 Mn across 10 deals, with Stashfin raising a significant amount of $100 Mn in a debt round. Additionally, the funding raised by Indian startups this week is 87% lower than the $791 Mn raised across 22 deals between March 13 and 18.
B2C modelled businesses received significant funding this week despite being in a difficult situation, with nine deals out of a total of 14. Early-stage investments were also consistent with eight deals, while late-stage startups faced challenges in raising funding rounds such as Series C and beyond. The article did not provide further information about the specific startups or deals involved.