India Startup Week: Info Edge’s VC arm, Stellaris sign multiple early-stage cheques

 India Startup Week: Info Edge’s VC arm, Stellaris sign multiple early-stage cheques

As many as 26 local startups snagged early-stage funding cheques from angel investors and venture capital firms this week, while India-born US enterprise technology ventures dominated the late-stage funding flock.

In total, around two dozen startups raised seed, pre-Series A and Series A venture funding and a couple got venture debt this week. These firms scooped up around $90 million in total, as per data collated by The Capital Quest.

The median deal value was around $2.5 million with five firms raising $5 million or more. The top funding deals were in fintech, health-tech, logistics-tech and B2B (sales intelligence) segments, with Slintel topping the chart with a cheque of $20 million.

Among the investors, Indo Edge Ventures and Stellaris Venture Partners were the most active, signing two cheques each. Info Edge Ventures invested in TrueMeds and Quicksell. Stellaris backed Reevoy and BuyerAssist in the seed stage.

Stellaris also reportedly backed Foodstrong, although there was no official communication to that effect.

Saama Capital, Nexus Venture Partners, Inflexor and Endiya Partners were among the other prominent VCs that backed startups this year.

Among venture debt firms, Trifecta Capital and Stride Ventures struck one deal each.

In the late-stage funding pack, there were three large deals—all in the Indo-US crossover space—in the enterprise tech domain. Zenoti, Whatfix and Eightfold scooped up a total of $390 million, with Eightfold alone raising $220 million in a Series E round. The other two raised or topped up their Series D funding cheques.

The sole local big-ticket deal involved Multiples PE leading a Series F round in online meat retailer Licious.

The Capital Quest