Startup Funding

Paytm has garnered global fame and has become India's leading digital payments and financial services firm.

A seed round headed by Climate Angels and the Bengaluru-based venture capital firm Kalaari Capital nets Clean Electric, a startup offering energy storage solutions, $2.2 million.

Covvalent, a platform for specialty chemicals, raises $4.3 million in a seed round that was co-led by Nexus Venture Partners.

Prodo, a startup specialising in on-demand manufacturing, raises a $1 million seed investment. 

The unified payment interface, or UPI, the ecosystem has seen the rise of Walmart-owned PhonePe, which routinely dominates in terms of volume and value. Its scale, which more than doubled to reach Rs 1,646 crore during FY22, further demonstrates its dominance in UPI payments.

HealthKart, an omnichannel health tech platform, raises Rs 536.52 crore, or around $66 million, in a Series H round that was led by Temasek and included A91 Partners.

The number of Indians using online platforms to get car maintenance and repairs increased, which led to a rise in revenue for the businesses offering these services.

E-mobility startup Motovolt Mobility raises $1.9 million, or Rs 16 crore, in a pre-series A investment that was backed by Wami Capital. The D2C firm Pee Safe's creator, Vikas Bagaria, also contributed to the funding round.

Koo, a social media competitor to Twitter in India, raises Rs 51.08 crore ($6.3 million) in a fresh round co-led by Tiger Global and Accel Partners with the support of Kalaari Capital, 3one4 Capital, and Tokyo-based PE company Dream Incubator (DI). The Bengaluru-based company's second investment round for 2022 is now underway.

As it looks to ramp up production in the face of increased demand for the alcoholic beverage, Indian craft beer maker Bira 91 raises $70 million in a fundraising round led by Japanese beer company Kirin Holdings Co Ltd.