[Weekly funding roundup Nov 14-18] Venture investments continue to show a steady rise

VC funding into Indian startups continues to show a steady rise in November, with deals of roughly $50 million dominating the inflow.

Total company financing for the third week of November was $267 million, spread across 30 deals. By comparison, $217 million was raised the week before in 26 deals.

With the country in the midst of a funding winter and investors holding onto their funds, established startups or market leaders with the right credentials are proving to be the preferred recipients. This week, companies like Lenskart and Simplilearn raised capital, and this trend is likely to continue for the foreseeable future.

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November is on track to record a reasonably good fundraiser for the Indian startup ecosystem. However, there is a high probability of a sharp drop in capital inflows next month as it marks the Christmas season.

key transactions

Fintech SaaS startup Lentra raised $60 million from Bessemer Venture Partners, SIG Venture Capital and Citi Ventures.

Edtech platform Simplilearn raised $45 million from GSV Ventures, Clal Insurance and DisruptAD.

Eyewear brand Lenskart raised $39.6 million from Chiratae Ventures, DSP India Fund and Axis Growth Avenues AIF-I.

Diabetes care provider BeatO raised $33 million from Lightrock India, HealthQuad, Orios Venture Partners, Blume Ventures, Leo Capital and Flipkart Ventures.

Ayurveda startup NirogStreet raised $12 million from Jungle Ventures, Spiral Ventures, ICMG Co-Creation Fund and angel investors.

IBA Cosmetics, a new personal care brand, raised $10 million from Singapore-based Believe.

Employee volunteering platform Goodera raised Rs 80 crore (USD 10 million) from Zoom Ventures, Elevation Capital, Xto10X Technologies, Nexus Venture Partners and others.

Electric mobility brand Corrit Electric raised $9 million led by early-stage venture capital fund SphitiCap.

Electric vehicle segment-focused startup Chargeup raised $7 million from Capital-A, Anicut Capital, Giraffe and angel investors.

Artificial intelligence startup VuNet Systems raised $5 million from Mela Ventures, Athera Venture Partners, Dallas Venture Capital and TVS Capital Funds.

ReadyAssist, a roadside assistance startup, raised $5 million from Howen International Fund and SPC.