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(Weekly funding roundup Oct 31-Nov 6) Sharp rise in capital inflow

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(Weekly funding roundup Oct 31-Nov 6) Sharp rise in capital inflow

November has begun on a positive note for the Indian startup ecosystem as venture capital funding saw a sharp rise, after four weeks of tepid inflow of funds.

The total funding for the first week of November was $263 million across 23 deals, compared to just $115 million in the previous week.

First, the total funding amount was well above $200 million. This is significant as the funds raised in the preceding four weeks were below $200 million. Second, after four weeks, the Indian startup ecosystem saw a $100-million transaction from jewellery brand GIVA.

These developments provide a big boost to the startup ecosystem, which has been struggling to raise large amounts of capital. Additionally, a potential investor slump in AI companies in the aftermath of the US mid-term elections could benefit Indian startups.

This is because much of the money is concentrated in the AI segment in the US. Now one can expect some sort of rebalancing in capital distribution with certain funds flowing into India. However, it is early days to comment on how the capital will flow into the country.

Jewellery brand GIVA raised $100 million led by Multiples Alternate Asset Management.

Consumer AI startup EloElo Group raised $80 million from Hornbill Capital, NBCUniversal, MIT Investment Co, Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners.

Peppermint Robotics raised Rs 100 crore (~$10.5 million) from pi Ventures, Crane Venture Partners and Asiana Fund.

3 million from Rainmatter by Zerodha, Mela Ventures, Omnivore, Theia Ventures, Aureolis Ventures and Spectrum Impact.


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