Synopsis
Startup funding saw a 33% year-on-year decline, with $66 million raised in the week to February 24, though this was a 43.8% increase from the previous week. Cheque sizes also reduced, with fewer deals this year. Top VCs included Rainmatter, All In Capital, and Blume Ventures.Listen to this article in summarized format
This week’s tally, however, was up 43.8% from the previous week, when startups raised only $46.2 million.
Cheque sizes reduced this year, with $66 million invested across just 21 deals, compared to $100 million spread over 33 deals last year.
This week, the top three VCs were Rainmatter, All In Capital, and Blume Ventures, each closing two deals.
Top deals this week
Oolka: Fintech startup Oolka has raised $14 million in a Series A round led by Accel India, with participation from existing investors. Founded in 2023 by former Meesho CBO Utkrishta Kumar, Oolka operates a credit marketplace integrated with AU Small Finance Bank, Yes Bank, and IDFC First Bank, and counts Ramakant Sharma, Vidit Aatrey, and Rajesh Yabaji among its angel investors.
M (Curious Digital): AI virtual assistant startup for household maintenance, founded by Dunzo cofounder Kabeer Biswas and former VP Kartik Mishra, has raised Rs 102 crore in a seed round led by Peak XV Partners, with participation from Blume Ventures and Cred.
LightFury Games: Gaming startup LightFury Games has raised $11 million in a round led by Blume Ventures, with participation from V3 Ventures, MIXI, and Times Internet. The round also saw backing from cricketers including MS Dhoni, Jasprit Bumrah, and Hardik Pandya.
