1947 Tech 🇮🇳: 188
Indian startups raised $3.56 Bn in Feb!
1. Indian startups raised $3.56 Bn in Feb: Entrackr Monthly Funding Report
An excellent monthly report by Entrackr.
Investment inflow continues at unprecedented rates with large funding rounds last month. Homegrown startups scooped up $3.56 billion in total fundraising in February according to our data tracking platform Fintrackr.
Overall, 165 startups raised funding last month: this included 41 growth stage and late-stage startups, 99 early-stage firms and 25 did not disclose their transaction details. This is a close to three-fold jump in the amount raised by Indian startups as compared to February last year, but a drop from January this year when $4.6 billion worth investments across 202 deals flowed in.
2. Accel India raises $650 mn for seventh venture capital fund
Accel India, an early backer of startups such as Flipkart and Freshworks, on Wednesday said it has raised $650 million in commitments for its seventh fund to invest in new opportunities across India and Southeast Asia.
The seventh fund is higher than the $550 million it raised for its sixth vehicle in 2019 and $450 million it raised for its fifth fund in 2016.
The new fund will seek to invest in next generation e-commerce, emerging software as a service (SaaS), consumer fintech, global business to business (B2B) marketplaces, digital health and Web3.
Accel, which typically comes in at a seed stage and then keeps on making follow-on investments, has been the first institutional investor in more than 87% of all portfolio companies.
Accel has also been the first venture capital firm to back companies such as Acko, Blackbuck, BookMyShow, Bounce, BrowserStack, Clevertap, Curefit, Mindtickle, Moglix, Ninjacart, Portea, Rupeek, Samunnati, StanzaLiving, UrbanClap and Zenoti among others.
Worth your attention:
Niyo raises $100 million in fresh funding led by Accel, Lightrock Link
Atlan raises around $50 Mn in Series B at over $450 Mn valuation Link
Fintech Perfios raises $70 mn, joins unicorn club Link
Dream Capital in talks to lead $100 million funding in NFT platform Rario Link
Prime Venture Partners raises $120 million towards final close of fourth fund Link
Silicon Valley’s Naval Ravikant, Tim Ferriss back $45 mn investment vehicle for Indian founders Link
QED invests $150 million in India in a year Link
IvyCap Ventures raises Rs 1,608 crore in first close of third fund Link