ETtech Deals Digest: Indian startups raise $736 million this week; up nearly fivefold on-year

Startups raised around $735.9 million between December 7 and December 13, a nearly five-fold increase from the same period last year. This also represents an increase of 161.3% from last week’s total of $281.6 million.

This week, startups across seed, early and late-stage rounds, raised funds through 29 deals, compared to 31 deals in the year-ago period, when they raised a total of $129 million, according to data from Tracxn.


Top deals of the week

Rebel Foods: Mumbai-based Rebel Foods, parent of Faasos, Behrouz Biryani and other cloud kitchen brands, raised $210 million in a funding round led by Singapore’s sovereign fund Temasek. The funding was a mix of primary and secondary share sales.

Mintifi: Mumbai-based lending platform Mintifi secured $180 million in a fresh equity funding round. The round was a combination of $100 million in primary capital raise and $80 million in secondary infusion. New investors PayU parent Prosus and Ontario Teachers’ Pension Plan (OTPP) pumped $80 million each into the company, with another $20 million being invested by Premji Invest, an existing investor.

Zetwerk: Contract manufacturing startup Zetwerk has raised an additional $70 million in fresh capital, bringing the total funding to $100 million in this round. The funding was led by Silicon Valley-based Khosla Ventures and Indigo airline founder Rakesh Gangwal, while UK-based fund Baillie Gifford joined as a new investor.

CarDekho: Jaipur-based CarDekho's Southeast Asia (SEA) business unit raised $60 million in a funding round led by Navis Capital Partners and Dragon Fund.

Wooden Street: Furniture and home decor platform Wooden Street has raised $43 million in a funding round from Premji Invest. In 2022, the company raised $30 million in a funding round led by WestBridge Capital.