India Startup Week: Reshamandi, CarDekho lead early, late-stage packs

 India Startup Week: Reshamandi, CarDekho lead early, late-stage packs

Indian and India-related startups scooped up nearly $850 million in venture funding this week, with at least 38 companies getting early, mid and late-stage funding in the week ending October 15.

Half a dozen direct-to-consumer and financial technology startups each attracted capital during the week.

Among other segments, NFT marketplaces, ed-tech, B2B marketplaces, health-tech and auto-tech figured in the list of startups getting money.

In the early-stage pack, Reshamandi, a B2B marketplace for silk, and biotech startup AUM Biosciences led the funding value stack.

In the mid- to late-stage group, CarDekho snapped up $220 million in a Series E funding round ahead of a planned IPO even as its peer CarTrade has been struggling to maintain investor interest after listing.

Among others, Tala and Hubilo are a couple of cross-over ventures that raised large funding rounds.

Fraazo announced a $50 million funding round, but a part of the money went to selling shareholder Nabventures, which recorded stellar returns from a quick exit.

Vivek Sinha

The Capital Quest