Weekly Funding Wrap-up Oct 26- Nov 1

Startups in India raised a total of USD 1.15 billion through 86 funding rounds in October, marking a 59.2 per cent increase over the USD 720 million raised across 146 rounds during the same period last year, according to data from Tracxn. The month’s funding focused largely on early and late-stage rounds.

In September, startups secured around USD 1.35 billion across 97 deals. For October’s final week alone, from the 26th to the 30th, startups attracted about USD 258 million.

Key five funding deals of this week included Udaan, Healthify, Zinc, Finnova and Country Delight. 

1. Health Tech Startup Healthify Secures Funding Of USD 20 Million
   Healthify, a health tech startup, has secured USD 20 million in new funding to support its expansion into the US market. The funding round was led by existing investors Khosla Ventures and LeapFrog Investments, with new participation from Claypond Capital, the family office of Indian healthcare billionaire Ranjan Pai. 
    
2. Zinc Raises USD 25.5 Million In Seed Round Led by Nexus Venture Partners
   Zinc, an edu-wealth startup, has raised USD 25.5 million in its seed round. Led by Nexus Venture Partners, with participation from Quona Capital, EDBI, Global Ventures, and Credit Saison, the round will enable Zinc to drive product innovation and expand its offerings. The capital will support the development of global investment tools, AI-powered university counseling, and cross-border payment solutions
    
3. Udaan Secures Rs 300 Crore In Debt Funding To Bolster B2B Operations
   B2B ecommerce platform Udaan has secured Rs 300 crore in debt financing from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital, according to media reports. This funding comes after a $340 million Series E round in December last year led by M&G Plc, with participation from Lightspeed Venture Partners and DST Global.
    
4. Finova Capital Raises $135 Mn Series E Round Led By Avataar Venture Partners & Others
   Jaipur-based Finova Capital, a non-banking finance company, raised USD 135 million series E round from Avataar Venture Partners, Sofina and Madison India Capital, including existing investor Norwest Venture Partners. The transaction also provides a partial exit to early investors. This also marks Avataar’s first investment in the financial services sector in India.
    
5. Country Delight Secures Rs 200 Cr From Alteria Capital
   Direct-to-consumer dairy startup Country Delight has raised Rs 200 crore (approximately USD 25 million) in venture debt from Alteria Capital, aimed at bolstering its expansion, capacity building, and brand marketing initiatives. Country Delight reported a significant revenue growth of Rs 1,380 crore in FY24, marking a 46 per cent increase from the previous year.