Weekly Funding Wrap-up
Swiggy tops the chart with pre-initial public offering anchor round
This week saw significant investments across various sectors, with some of India’s leading startups raising substantial funding to fuel their growth. From food tech to home financing and deep-tech robotics. Here are the top five funding rounds of the week from 1 November to 7 November that grabbed attention
Swiggy Raises USD 605 Million Ahead Of IPO
In one of the largest funding rounds this week, Swiggy, India’s leading food tech platform, raised an impressive USD 605 million (Rs 5,085 crore) from over 75 anchor investors. The funding is key as the company prepares for its highly anticipated initial public offering (IPO), which opened on 6 November. With this fresh capital, Swiggy aims to strengthen its market position and expand its offerings, ensuring a strong debut in the public market. This funding is part of the company's ongoing effort to accelerate growth and sustain its competitive edge in the fast-evolving food delivery and quick commerce.
Easy Home Finance Secures USD 35 Million
Easy Home Finance, a home financing sector company, raised USD 35 million in a fresh funding round led by Claypond Capital, the family office of Ranjan Pai, along with Sumitomo Mitsui Banking Corporation’s Asia Rising Fund. The round also saw participation from existing investors, including Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund.
Modifi Raises USD 15 Million
In the B2B financial technology space, Modifi, a global platform specializing in Buy Now, Pay Later (BNPL) solutions for businesses, raised USD15 million in a new funding round led by SMBC Asia Rising Fund. The round also saw participation from existing investors such as Maersk, Intesa Sanpaolo, Heliad, and other international backers. This new funding will enable MODIFI to further develop its platform, expand its reach, and strengthen its position in the rapidly growing BNPL market for businesses.
Boldfit Raises USD 13 Million
In the fitness and wellness space, Boldfit, a direct-to-consumer fitness startup, secured Rs110 crore (approximately USD13 million) in a funding round led by Bessemer Venture Partners. The startup, backed by Indian cricketer KL Rahul, aims to enhance its product portfolio and scale its operations across the country. Boldfit's new funding will help it invest in technology, product development, and marketing to cater to the rising demand for home fitness solutions in India.
CynLr Raises USD 10 million in Series A
CynLr (Cybernetics Laboratory), a deep-tech robotics startup, raised USD 10 million in a Series A funding round co-led by Pavestone and Athera Venture Partners (formerly Inventus India). With this round, CynLr has raised a total of USD 15.2 million to date. The funding will enable the company to enhance its AI and robotics capabilities and accelerate the development of its cutting-edge automation solutions for industries like manufacturing and logistics.
This week’s funding rounds highlight the diverse sectors attracting investor attention, with strong investments in food tech, home finance, fitness, deep-tech robotics, and fintech. As these startups scale their operations and expand into new markets, these investments will play a crucial role in shaping their future growth trajectories.
