Funding and acquisitions in Indian startups this week [14-19 Aug]

This week, eight Indian startups raised less than $20 million. DynamoFL and Contiinex were the top fundraising startups that scooped up $15.1 million and $2 million respectively. This is one of the lowest funding weeks for homegrown startups. Last week, 11 Indian startups raised funding worth about $66 million. 

Meanwhile, the details of the two startups remained undisclosed. 

Details of the 8 funding rounds can be found here.

Early-stage deals 

Eight early-stage startups have raised funds, including two undisclosed rounds. AI startup DynamoFL was on the top with its $15.1 million. The list also features Contiinex, Vegapay and Aretto among others. Surprisingly, There were no growth stage deals this week.

City and segment-wise deals    

This week, Bengaluru-based startups dominated the funding chart. According to Fintrackr’s data, five Bengaluru-based startups raised funds this week amounting to $18 million or 91.58% of the total funding. During the week, Delhi NCR-based startups saw two deals.

The complete breakdown of deals across cities and segments in the first half can be seen below: 

AI startups were on top in terms of the number of deals and amount raised. Fintech and E-commerce (including D2C brands) startups were next on the list.

Acquisitions

Apart from fundraising, this week also saw four merger and acquisition deals as TrackOn got acquired by XpressBees, Slash was acquired by Finix Partners and HealthXCapital merged with Jungle Ventures. The complete list can be seen below.

Layoffs

This week saw three companies laying off their employees. The list includes Byju’s, Times Internet and Spartan Poker which fire more than 320 employees collectively. 

*Back next week with another deal roundup