[Weekly funding roundup Feb 28-Mar 4] Sharp decline in venture capital inflows

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Venture capital funding in Indian startups started on a low note for the month of March as the inflow of capital into the ecosystem appears to be limited.

The first week of March received total venture capital funding of $196 million – which was a sharp drop from $509 million recorded the last week of February.

There was 36 operations during the week and as has been the case for the past two years, the majority of these transactions were in the start-up category.

This week, there were no major funding deals and no new startups turned the unicorn.

It remains to be seen what kind of impact it will have on Indian startup funding dynamics in the coming weeks, given the volatile situation in Europe with Russia’s invasion of Ukraine.

Transactions of the week

Pocket FM, an OTT audio platform, has raised $65 million from Goodwater Capital, Naver and existing investor – Tanglin Venture Partners.

Student loan fintech platform Kuhoo raised $20 million in a starting round of West Bridge Capital.

DaMENSCH, a premium lifestyle brand for men, has raised $16.4 million from A91 Partners, Matrix Partners India, Saama Capital and Whiteboard Capital.

Locofast, a fashion supply chain platform, has raised $15 million in a Series A funding round from Stellaris Venture Partners and Chiratae Ventures.

Start of logisticsProzo raised $10 million from Sixth Sense Ventures, Jafco Asia and HNI.

Koo App, the microblogging platform, created around $10 million in two different trances of several investors.

Fintech start-ups Snap Mint raised $9 million from Prudent Investment Managers, 9 Unicorns, Anicut Capital, Negen Capital and others.

Startup focused on pets just dogs raised $7 million of Sixth Sense Ventures.

fintech startupjunior raised $6 million of NB Ventures and Rajiv Dadlani Group.

Mergers & Acquisitions

DG Ventures and BEENEXT, the [email protected] cloud kitchen company, have acquired Kitchens Center in a stock exchange agreement.

Tech sophistication startup Scaler has acquired online learning platform AppliedRoots for $50 million.

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