ETtech Deals Digest: a glimmer of hope for Indian startups

The last few weeks of 2022, however, seem to have brought a glimmer of hope for India’s startup ecosystem as several startups raised funds this week.

While investors bet heavily on agritech startups like MoooFarm and DeHaat, Table Space, startup that offers coworking spaces, raised the biggest round at $300 million.

Table Space’s raise comes amid robust demand for coworking spaces. ET reported on Nov 29 that startups accounted for over 30% of the leasing activity in 2022.
Here are all the startups that raised funds this week.

Table Space raises $300 million in funding from Hill House: Flexible office operator
Table Space has raised around $300 million from Hill House Capital, a global private equity fund, to expand its operations. The investment is expected to be funded in two tranches. Table Space is one of the fastest-growing managed workspace providers for enterprises in India and plans to expand its footprint from the present five million square feet to eight million square feet by December 2023.

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KreditBee raises $80 million in ongoing Series D round: Credit-based fintech startup KreditBee
has secured $80 million as a part of its ongoing Series D investment round, from existing investors Premji Invest, Motilal Oswal Alternates, TPG-backed NewQuest Capital Partners, and Mirae Asset Ventures. A new investor, Japan-based Mitsubishi UFJ Financial Group (MUFG) Bank, also participated in the round. MUFG Bank’s other investments in Indian fintechs include financial infrastructure provider M2P Fintech and contactless ordering and payments startup DotPe.

Agritech startup DeHaat raises $60 million: End-to-end agricultural services provider
DeHaat has raised $60 million in a Series E funding round led by Sofina Ventures and Temasek.The investment round also saw participation by other investors, including RTP Global Partners, Prosus Ventures and Lightrock India, per a statement by the agritech startup.

Prismforce raises $13.6 million led by Sequoia Capital India: Software provider Prismforce, which helps IT companies digitise their talent supply chain,
has raised $13.6 million from investors led by Sequoia Capital India. Prismforce said it will utilise the funds to enhance its product suite, strengthen its go-to-market capabilities and grow its talent base.Earlier, Prismforce had raised $1.8 million in seed funds from serial entrepreneurs and software-as-a-service (SaaS) founders. The latest funding round takes the total funds raised to $15.4 million.

Aavishkaar Capital leads $13 million funding for agritech startup MoooFarm: Agritech startup MoooFarm, which offers a dairy-as-a-service platform to farmers,
has raised $13 million in a Series A funding round led by Aavishkaar Capital.Other investors that participated in the round include Aditya Birla Ventures, the venture capital arm of Aditya Birla Group, and Accel Partners. Existing investors Rockstart AgriFood, Navus Ventures and Alteria Capital also participated, according to a statement.

Blox raises $12 million from investors including CRED’s Kunal Shah: Technology-based real estate buying platform
Blox has raised $12 million or nearly Rs 100 crore in a series A funding round – the largest in the proptech sector in India. This funding round was backed by its existing investors from Silicon Valley, new strategic investors and angels including Kunal Shah, founder of CRED.The company is planning to utilize the funds raised for market expansion, boosting the product portfolio, and building data infrastructure across customers, brokers, and developer segments.

Ex-Flipkart executive Ranjith Boyanapalli’s Flash raises $5.8 million funding: Former Flipkart executive Ranjith Boyanapalli’s early-stage startup Flash, which aims to build unified digital identities for frequent shoppers,
has raised $5.8 million in seed funding led by global funds such as Global Founders Capital (GFC), White Venture Capital, Zinal Growth, Soma Capital, Emphasis Ventures and Peer Capital. The funding also saw participation from a host of angel investors, including Flipkart’s Binny Bansal, Cred’s Kunal Shah, Udaan’s Sujeet Kumar, and Groww’s Lalit Keshre. White Venture Capital is a fintech-focussed venture fund started by Jitendra Gupta, Amrish Rau and Sweta Rau.