Tracxn - India Tech Monthly Funding Report

TRACXN MONTHLY REPORT
JULY 2023
FIN TECH

India Tech - July 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Contents
2
Fin Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 13
Top Funded Business Models - last 1 year 15
New Analyst Picks 16
IPOs 25
Acquisitions 26
Recent News 28
Deadpooled Companies 30

Fin Tech Snapshot – July 2023
Fin Tech: Snapshot – July 2023
Note : "Investors" refers to "Institutional Investors" only
3
$444M
24 4
Overall Geo Stats
20
11
114
94
66
Funding Rounds $ Invested Analyst Picks
Zyber 365
Upgraded to
UNICORN
New Investors
Sunn91
ETS
Series A+ rounds Active Investors IPOs
ideaForge
Drone Destination
Acquisitions
RetailSoft
KidzByte
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Bengaluru
(21 Rounds, $133M)
Delhi NCR
(18 Rounds, $126M)
Gurgaon
(8 Rounds, $84.1M)
Mumbai
(6 Rounds, $59.4M)
$100M - Series A
Zyber 365 (2023, Ahmedabad, $100M)
$57.4M - Series C
Auxilo (2017, Mumbai, $113M)
$40M - Series D
RenewBuy (2015, Gurgaon, $145M)
$36.5M - Series D
Furlenco (2012, Bengaluru, $133M)
Blume
(5 Investments)
IPV
(4 Investments)
LetsVenture
(3 Investments)
100X.VC
(3 Investments)
Blockchain Infrastructure
Zyber 365
Higher Education Tech
Auxilo
Alternative Lending
OneStack
Auto E-Commerce & Content
RenewBuy
Market Size
Companies Covered 116,414
Funded Companies 12,568
Total Funding $159B
Funding in last 12 months $11.8B
Top Exits
IPOs 208
Acquisitions 1,501
Company Stage
Unicorns 89
Soonicorns 339
Minicorns 1,102
Editor Picks 7,163
Series A+ 2,165
Series C+ 486
Acqui-Hires 120
Deadpooled 32,796
Top Cities
Bengaluru (7,323 Rounds, $72.5B)
Delhi NCR (5,425 Rounds, $39.4B)
Top Investors
LetsVenture (396 Investments)
AngelList (352 Investments)

Investment Snapshot
Investment Snapshot of Fin Tech as of July 2023
Fin Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (July 2023)*
Zyber 365
(2023, Ahmedabad, $100M)
$100M - Series A SRAM & MRAM Group
Auxilo
(2017, Mumbai, $113M)
$57.4M - Series C Tata Capital Growth Fund
RenewBuy
(2015, Gurgaon, $145M)
$40.0M - Series D Dai ichi Life Group
Furlenco
(2012, Bengaluru, $133M)
$36.5M - Series D Sheela Group
GIVA
(2019, Bengaluru, $52.5M)
$35.0M - Series B Premji Invest
Battery Smart
(2019, Gurgaon, $74.0M)
$33.0M - Series A Tiger Global Management
LetsTransport
$25.0M - Series D Bertelsmann India Investments
Leverage Edu
(2017, Delhi, $70.0M)
$25.0M - Series C ETS
Ati Motors
$10.8M - Series A True Ventures
SmartDukaan
(2015, Noida, $10.0M)
$10.0M - Seed Findoc
Clensta
(2016, Gurgaon, $12.7M)
$9.1M - Series A TradeCred
*Shows only the lead Investors

List of Funding Rounds (1/8)
List of Funding Rounds in Fin Tech in July 2023
Fin Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$25.0M - Series C
Leverage Edu (2017, Delhi, $70.0M)
Enrollment management platform for colleges
ETS, Kaizenvest, Blume, Three State Capital Advisors,
DSG Consumer Partners
$25.0M - Series D
LetsTransport (2015, Bengaluru, $67.7M)
Offers a platform providing last-mile logistics services
for e-commerce businesses
Bertelsmann India Investments
$36.5M - Series D
Furlenco (2012, Bengaluru, $132.8M)
Online rental platform offering furniture and home
appliance on subscription
Sheela Group
LATE STAGE
$40.0M - Series D
RenewBuy (2015, Gurgaon, $145.3M)
Online comparison platform for life and non-life
insurance products
Dai ichi Life Group
$57.4M - Series C
Auxilo (2017, Mumbai, $113.0M)
Provider of loans for students and educational
institutions
Tata Capital Growth Fund, Trifecta Capital, Xponentia
Capital, ICICI Bank
Series D
ZestMoney (2015, Bengaluru, $133.6M)
Online platform for point-of-sale financing
Quona, Omidyar Network India, Flourish, Scarlet, Zip
LATE STAGE
Series C
Vinculum Solutions (2007, Noida, $21.7M)
Platform offering cloud based end to end eCommerce
and retail solution
ShipRocket

6
EARLY STAGE
$426.1K - Series A
ReDesyn (2019, Mumbai, $1.6M)
Online platform offering customized apparel for men
and women
Real Time Accelerator Fund, Sukhbir Singh
$1.4M - Series B
DusMinute (2017, Bengaluru, $4.1M)
Provider of concierge services for community
management
IPV, Bandana Kankani
$2.0M - Series A
OneStack (2019, Gurgaon, $2.2M)
Open banking APIs
GrowX Ventures, Stride Ventures, Venture Catalysts,
9Unicorns
EARLY STAGE
$2.3M - Series A
SupplyNote (2015, Noida, $6.4M)
Provider of cloud-based supply chain management
solutions
Venture Catalysts, Artesian, Sattva Group, LetsVenture,
We Founder Circle, and 4 more
$3.7M - Series A
Solethreads (2019, Delhi, $5.5M)
Internet-first brand offering footwear for men and
women
Fireside Ventures, DSG Consumer Partners, Saama
Capital
$4.0M - Series A
Kapture (2011, Bengaluru, $4.4M)
Cloud based platform offering omnichannel contact
center solutions
Cactus Venture Partners
EARLY STAGE
$6.0M - Series A
Fold Health (2021, San Francisco, $12.0M)
Cloud-based practice management tool for providers
Iron Pillar, Rushika Fernandopulle, Sridhar Krishnan,
Anurag Jain
$6.2M - Series A
smartstaff (2020, Bengaluru, $10.5M)
Workforce management platform for enterprises
Nexus Ventures, Alteria Capital, Blume, Arkam
Ventures
$9.1M - Series A
Clensta (2016, Gurgaon, $12.7M)
Internet first brand offering multi-category organic
beauty products
TradeCred, Exim Bank, Mumbai Angels, Keiretsu
Capital, O2 VC Fund, and 2 more

7
EARLY STAGE
$10.8M - Series A
Ati Motors (2017, Bengaluru, $15.4M)
Developer of autonomous electric cargo vehicles for
material handling and picking
True Ventures, Blume, MFV Partners, Exfinity Venture
Partners, Athera
$33.0M - Series A
Battery Smart (2019, Gurgaon, $74.0M)
Developer of battery-swapping station network for
electric vehicles
Tiger Global Management, Ecosystem Integrity Fund,
British International Investment, Blume
$35.0M - Series B
GIVA (2019, Bengaluru, $52.5M)
Internet first brand offering multi-category fast-fashion
jewelry
Premji Invest, Aditya Birla Ventures, A91 Partners,
Alteria Capital
EARLY STAGE
$100.0M - Series A
Zyber 365 (2023, Ahmedabad, $100.0M)
Web3 and AI-based OS that combines cyber security
and quantum proofing to create blockchain solutions
SRAM & MRAM Group
Series A
LifeCircle (2012, Hyderabad, $150.0K)
Home healthcare service for chronically ill and
bedridden paitents
Series A
Lavelle Networks (2015, Bengaluru, $8.9M)
WAN management platform
Bharti Airtel
EARLY STAGE
Series B
Infinite Uptime (2015, Pune, $31.3M)
Provider of a vibration monitoring solution for the
manufacturing industry
TDK Ventures

8
SEED STAGE
$3.0K - Seed
Bornbhukkad (2018, Bhubaneswar, $43.0K)
Provider of restaurant management solutions
Startup Odisha
$78.2K - Seed
Newtral (2022, Bengaluru, $78.2K)
Provider of carbon accounting and report management
platform
PedalStart
$121.0K - Seed
BrainSightAI (2019, Bengaluru, $925.0K)
Provider of an AI-based technology for precision
diagnosis of neurological disorders and research
RedStart Labs
SEED STAGE
$198.5K - Seed
Just Learn (2020, Noida, $198.5K)
Mobile-based platform providing learning solutions for
professionals
$250.0K - Seed
LUZO (2021, Mumbai, $404.1K)
App-based salon and spa booking platform
100X.VC, Yash Kotak
$334.4K - Seed
insideFPV (2020, Surat, $458.8K)
Online retailer for drones and accessories
IPV
SEED STAGE
$339.7K - Seed
Jellybean (2022, Bengaluru, $339.7K)
Platform offering employee engagement tools for the
workforce
Paradigm Shift Capital, Sunn91, Mars Shot Ventures,
Vaibhav Vardhan, Saurabh Nigam
$365.0K - Seed
Nutrizoe (2019, Mumbai, $957.2K)
Internet-first brand offering snacks for lactating
mothers
IPV
$366.4K - Seed
Minifeel (2021, Mumbai, $520.5K)
Online retailer offering multi-category beauty products
100X.VC, Yash Kotak, Niraj Chhajer, Vijay Jain, Ganesh
Iyer

9
SEED STAGE
$487.9K - Seed
ZuApp (2021, Bengaluru, $487.9K)
AI-powered personal tutor for students
Prime Venture Partners
$525.0K - Seed
50Fin (2022, Bengaluru, $677.9K)
Provider of loan against capital market assets
100X.VC, Keynote Capitals, Arun Venkatachalam,
Manish Kumar, Dinesh Agarwal
$607.8K - Seed
Selligion (2020, Mumbai, $980.1K)
Online platform offering cloud-based computer devices
Malpani Ventures
SEED STAGE
$670.8K - Seed
Ensologic (2019, Delhi, $1.2M)
Provider of cross-border software suite solutions
IPV, Hyderabad Angels, San Angels, Indian Angel
Network
$800.0K - Seed
Terra Food (2017, Ahmedabad, $1.9M)
Platform offering shared kitchen solutions for food
businesses
Zero To One Fund, Twin & Bull, ah! Ventures, Faad
Network, LetsVenture, and 1 more
$1.0M - Seed
Okulo Aerospace (2019, Bengaluru, $1.1M)
Manufacturer of autonomous UAVs
Ideaspring Capital, Java Capital, FORGE Accelerator
SEED STAGE
$1.0M - Seed
Stimuler (2022, Varanasi, $1.0M)
AI-based platform offering English language learning
solutions
$1.3M - Seed
LeRemitt (2022, Gurugram, $1.3M)
Cross-border money transfer solution for businesses
Axilor Ventures, Capital A, Ramkumar Govindarajan
$1.3M - Seed
Hustle Energy Drink (2022, Gurugram, $3.2M)
Provider of an energy drink with zero sugar
Parth Ventures, Vijay Shekhar Sharma, Keki Mistry,
Vishesh Khurana, Vidur Talwar, and 1 more

10
SEED STAGE
$1.5M - Seed
Frigate (2021, Chennai, $1.7M)
Cloud-based on-demand manufacturing solutions
Arali Ventures, Java Capital, Capital A
$2.0M - Seed
Dil Foods (2022, Bengaluru, $2.1M)
Online platform offering virtual restaurant network
V3 Ventures, Mount Judi Ventures, Revant Bhate, Arjun
Vaidya
$2.0M - Seed
Trential (2022, Gurugram, $2.0M)
Provider of blockchain-based digital identity and
credentials management solutions
Arkam Ventures, SIIC IIT Kanpur, Ashish Gupta,
Abhishek Goyal, Somesh Misra, and 5 more
SEED STAGE
$2.1M - Seed
Hectar (2021, Chennai, $2.1M)
Provider of software solutions for food distributors
Powerhouse, siliconindia, WEH Ventures, All In Capital,
Anant Sarda, and 1 more
$3.0M - Seed
Blitz (2020, Bengaluru, $3.9M)
Provider of e-commerce fulfillment and same-day
delivery solutions for D2C Brands
India Quotient, First Cheque, Better Capital, Titan
Capital, Kunal Shah, and 10 more
$3.3M - Seed
PingSafe (2021, Bengaluru, $3.3M)
Cloud security platform
Peak XV Partners, Surge, Tanglin Venture Partners,
Rahul Chari, Neeraj Arora, and 2 more
SEED STAGE
$3.5M - Seed
Beyond Snacks (2018, Alappuzha, $4.2M)
Internet-first brand of Banana chips
NABVENTURES
$3.6M - Seed
factors.ai (2018, Bengaluru, $5.6M)
Platform offering software for customer journey
analytics
Stellaris Venture Partners, Emergent Ventures,
Elevation, Kris Rudeegraap, Sreedhar Peddineni, and 3
more
$5.0M - Seed
Vegh (2022, Bathinda, $5.0M)
Manufacturer of powerful electric scooters

11
SEED STAGE
$10.0M - Seed
SmartDukaan (2015, Noida, $10.0M)
Business management software solution for retail
businesses
Findoc, LeafBerry Ads
Seed
ToolJet (2017, Bengaluru, $6.2M)
Platform offering cloud based internal tools
development software
M12, GitHub
Angel
JustMyRoots (2017, Gurgaon, $3.8M)
Online food delivery platform
Sourav Ganguly
SEED STAGE
Seed
VehicleCare (2015, Gurgaon)
AI-based platform offering car repair and maintenance
services
JITO Incubation & Innovation Foundation
Seed
GreenGrahi (2021, Delhi)
Provider of food waste-based crop nutrition solutions
for farmers
Campus Fund
Seed
Aayush Bharat (2020, Kota)
Provider of teleconsultation solutions for patients and
doctors
JITO Incubation & Innovation Foundation
SEED STAGE
Seed
Finteck (2022, Bhubaneswar)
Online money management platform for teens
Startup India
Seed
Metabook XR (2019, Noida, $108.1K)
Provider of VR hardware and software for academic
learning
EvolveX, We Founder Circle, Bhawna Bhatnagar, Neeraj
Tyagi, Vikas Aggarwal
Seed
insideFPV (2020, Surat, $458.8K)
Online retailer for drones and accessories
Soonicorn Ventures

12
SEED STAGE
Seed
EV India (2021, Ahmedabad, $25.2K)
Online platform offering the listings and comparison of
electric two-wheelers
EvolveX, Neeraj Tyagi, Gaurav VK Singhvi, Vikas
Aggarwal
Seed
Redbasil (2020, Gurgaon, $330.0K)
B2B marketplace offering grocery supplies for
businesses
South Asia Tech, Mumbai Angels
Seed
Plotch (2020, Goregaon)
Cloud and AI based ERP software for multiple
industries
Antler, Global Founders Capital, Peak XV Partners
SEED STAGE
Seed
Jumppers (2020, Delhi)
Provider of B2B last mile delivery & green logistics
company
Lipi
Seed
Farmology (2018, Howrah)
Provider of advisory platform
iAngels, Sunil Nair, S K Sarangi
Seed
Inferless (2023, Bengaluru)
AI-based platform to deploy machine learning models
Peak XV Partners, Antler, Blume
SEED STAGE
Seed
OckyPocky (2015, Gurgaon, $1.2M)
Provider of a vernacular-based English learning app for
preschool kids
SucSEED Indovation

New Investors (1/2)
List of New Investors in Fin Tech in July 2023
Fin Tech: List of New Investors
13
Investor Company Info Round Amount Round Name
Sunn91
3 portfolio companies | Venture capital firm focused on pre-seed and seed stage
investments
Jellybean
Platform offering employee engagement tools for the workforce
$340K Seed
ETS
7 portfolio companies | Provides learning & assessment tools for English
language, K-12, higher education, and workplace programs
Leverage Edu
$25.00M Series C
Exim Bank
13 portfolio companies | Venture capital firm focused on multiple sectors
Clensta
Internet first brand offering multi-category organic beauty products
$9.08M Series A
Keynote Capitals
3 portfolio companies | Provider of financial services
50Fin
$525K Seed
LeafBerry Ads
1 portfolio companies | Provider of outdoor advertising services
SmartDukaan
Business management software solution for retail businesses
$10.00M Seed
Lipi
1 portfolio companies | Provider of software development and digital signage
solutions
Jumppers
Provider of B2B last mile delivery & green logistics company
Undisclosed Seed
Ecosystem Integrity Fund
32 portfolio companies | Venture capital fund focused on early-stage startups
Battery Smart
Developer of battery-swapping station network for electric vehicles
$33.00M Series A
Real Time Accelerator Fund
5 portfolio companies | Sector agnostic startup accelerator
ReDesyn
Online platform offering customized apparel for men and women
$426K Series A
Zip
3 portfolio companies | Provider of an online platform for point-of-sale
financing
ZestMoney
Undisclosed Series D
Three State Capital Advisors
Leverage Edu
$25.00M Series C

New Investors (2/2)
List of New Investors in Fin Tech in July 2023
Fin Tech: List of New Investors
14
Investor Company Info Round Amount Round Name
PedalStart
3 portfolio companies | Sector agnostic startup studio focused on early-stage
startups
Newtral
Provider of carbon accounting and report management platform
$78.19K Seed
Startup Odisha
3 portfolio companies | Government body focused on startups development
Bornbhukkad
Provider of restaurant management solutions
$3.00K Seed
Keiretsu Capital
Clensta
$9.08M Series A
Sheela Group
2 portfolio companies | Manufacturer of PU foam for multiple industries
Furlenco
Online rental platform offering furniture and home appliance on
subscription
$36.52M Series D
Scarlet
1 portfolio companies | Scarlet
ZestMoney
Undisclosed Series D
South Asia Tech
4 portfolio companies | Venture capital firm focused on early-stage logistics,
transportation, e-commerce or related technology
Redbasil
B2B marketplace offering grocery supplies for businesses
Undisclosed Seed
Tata Capital Growth Fund
15 portfolio companies | Private equity fund investing in multiple sectors
Auxilo
Provider of loans for students and educational institutions
$57.40M Series C
Dai ichi Life Group
2 portfolio companies | Provider of business management services for insurance
firm
RenewBuy
Online comparison platform for life and non-life insurance products
$40.00M Series D
Nexus Ventures
5 portfolio companies | Seed-stage tech and offline focused venture capital firm
investing in Turkey
smartstaff
Workforce management platform for enterprises
$6.20M Series A
TradeCred
13 portfolio companies | Diversified NBFI
Clensta
$9.08M Series A

Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
15
Rank Business Model $ Funding # Rounds Top Funding Round
1 <> 0 Online Test Preparation Courses $950M 4 BYJU'S | $700M | Series G
2 ▲44 Online Eyewear Retailers $651M 3 Lenskart | $500M | Series J
3 ▲2 Electric Scooter Manufacturers $425M 15 Ola Electric | $300M | Series D
4 ▲57 Internet First Personal Loans Marketplace $275M 4 KreditBee | $120M | Series D
5 -- College Education Loans Platforms $221M 5 Avanse | $96.8M | Series C
6 ▲192 Online Supplement Stores $214M 9 HealthKart | $135M | Series H
7 ▲37 Online Business Loans Marketplace $149M 4 Mintifi | $110M | Series D
8 -- Electric Rickshaw Manufacturers $148M 2 TI Clean Mobi.. | $145M | Series D
9 -- Consumer and SME Loans $146M 4 Avanse | $96.8M | Series C
10 ▲43 Contract Lifecycle Management $137M 7 Icertis | $75.0M | Series F

New Analyst Picks (1/9)
Interesting Companies identified by Analysts in Fin Tech in July 2023
Fin Tech: Analyst Picks
16
Upgraded to UNICORN
Zyber 365 (2023, Ahmedabad, $100M, Series A)
Web3 and AI-based OS that combines cyber security
and quantum proofing to create blockchain solutions
SRAM & MRAM Groupand
Upgraded to SOONICORN
GIVA (2019, Bengaluru, $35.0M, Series B)
Internet first brand offering multi-category fast-fashion
jewelry
Premji Invest, A91 Partners, Alteria Capital and 52
other Investors
Furlenco (2012, Bengaluru, $36.5M, Series D)
Online rental platform offering furniture and home
appliance on subscription
Sheela Group, Ceutics Businesses, AngelList and 114
other Investors
Leverage Edu (2017, Delhi, $15.0M, Venture Debt)
ETS, Blume, DSG Consumer Partners and 110 other
Investors
Battery Smart (2019, Gurgaon, $33.0M, Series A)
Developer of battery-swapping station network for
electric vehicles
Tiger Global Management, Blume, Ecosystem Integrity
Fund and 34 other Investors
Statiq (2019, Gurgaon, $25.7M, Series A)
Company offers electric vehicle charging station
networks
Shell, Y Combinator, 10000 Startups and 3 other
Investors
The Souled Store (2013, Mumbai, $16.4M, Series C)
Online licensed merchandise platform offering multi-
category products
Xponentia Capital, Elevation, RPSG Capital Ventures
and 14 other Investors
Saveo (2019, Bengaluru, $4.5M, Series A)
Online B2B managed marketplace platform for
pharmacies
Matrix Partners India, 4point0, Jetty Ventures and 57
other Investors
CBREX (2015, Bengaluru, $3.0M, Series A)
Cloud-based recruitment agency marketplace for
enterprises
WaterBridge, Sutra Ventures, Santosh G and 64 other

17
Upgraded to MINICORN
SupplyNote (2015, Noida, $600K, Seed)
Provider of cloud-based supply chain management
solutions
Venture Catalysts, Artesian, Sattva Group and 157
other Investors
ToolJet (2017, Bengaluru, Undisclosed, Seed)
Platform offering cloud based internal tools
development software
M12, GitHub, Nexus Venture Partners and 12 other
Investors
Freakins (2018, Ahmedabad, $4.0M, Seed)
Internet first brand offering casual wear for women
Blume, Matrix Partners India, Revant Bhate and 6 other
Investors
Blitz (2020, Bengaluru, $706K, Seed)
Provider of e-commerce fulfillment and same-day
delivery solutions for D2C Brands
India Quotient, Better Capital, First Cheque and 53
other Investors
Solethreads (2019, Delhi, $3.7M, Series A)
Internet-first brand offering footwear for men and
women
Fireside Ventures, DSG Consumer Partners, Saama
Capital and 1 other Investors
LUZO (2021, Mumbai, $250K, Seed)
App-based salon and spa booking platform
100X.VC,Yash Kotakand
Frigate (2021, Chennai, $1.5M, Seed)
Cloud-based on-demand manufacturing solutions
Arali Ventures, Capital A, Java Capital and 15 other
Investors
Added to Editor's Pick
IppoPay (2020, Chennai, $250K, Seed)
Payment acceptance solution for businesses
Coinbase, Better Capital, Blume and 10 other Investors
TeamLease Edtech (2012, Mumbai, $586K, Series B)
Provider of management solutions for schools and
colleges
N Squared Management, Cipher-Plexus, Naresh Nagpal
Websites.co.in (2017, Mumbai, $20.0K, Seed)
SaaS-based platform for website creation
LeapSwitch Networks, Sauvik Banerjjee, Vishal
Bhawsinghka and 3 other Investors
Wingify (2009, Delhi, Unfunded)
Website optimization and AB testing tools for
businesses

18
Kredent InfoEdge (2009, Kolkata, $1.4M, Seed)
Diversified conglomerate operating across multiple
industries
Kotak Securities, Samyakth Capital, Ruchita K Shah and
15 other Investors
Bowled (2021, Mumbai, $3.0M, Seed)
Provider of play-to-earn social gaming platform
Harsha Bhogle, Investopad, Axie and 2 other Investors
Intellipaat (2011, Bengaluru, Unfunded)
Online certification courses for Big data, Business
Intelligence and Cloud Technologies
Instasell (2021, Bengaluru, $525K, Seed)
Provider of live streaming e-commerce software suite
solutions for businesses
Stellaris Venture Partners, Amplify Partners, Sarath
Sura and 14 other Investors
Fold Health (2021, San Francisco, $6.0M, Series A)
Cloud-based practice management tool for providers
Rushika Fernandopulle, Sridhar Krishnan, Anurag Jain
We360.ai (2020, Bhopal, $786K, Seed)
Provider of HRMS software for enterprises
SucSEED Indovation, GSF, ah! Ventures and 51 other
Investors
Orange Tours & Travels (2011, Hyderabad,
Unfunded)
Online platform to discover & book bus tickets
m.Stock (2017, Mumbai, Unfunded)
App-based online investment and trading platform for
CFDs, stocks, and multiple assets for individuals
MyWays (2019, New Delhi, Undisclosed, Seed)
Career guidance platform for IT professionals
AUM Ventures, WAMI Capital, Knimbus and 8 other
Investors
Vigyan Labs (2008, Mysuru, $185K, Seed)
AI-based energy management solutions
Apextend, Unicorn Infinite LLP, Terry Thomas and 24
other Investors
Stimuler (2022, Varanasi, $1.0M, Seed)
AI-based platform offering English language learning
solutions
CIIE, Alagu Periyannan, Rajagopalan Chandrashekar
LifeCircle (2012, Hyderabad, Undisclosed, Series A)
Home healthcare service for chronically ill and
bedridden paitents
GROUPE SOSand

19
nStore (2017, Chennai, $186K, Seed)
Provider of retail management solutions
SURYA ENTERPRISES, Grace Solutions, Vijayalakshmi R
AutoNxt Automation (2016, Mumbai, $349K, Seed)
Developer of autonomous electric tractor and tricycle
Tychonic Innovation, Helios Holdings, Vvag Partner and
66 other Investors
BabyG (2020, Mumbai, $184K, Seed)
App for early development of babies offering activities,
growth milestones, and parenting tips
Wellfound, Icebreaker, Siyat Holdings and 7 other
Investors
TankhaPay (2022, Delhi, $2.7M, Seed)
Salary app that offers on demand pay with social
security benefit schemes
Reelo (2017, Ahmedabad, $271K, Angel)
Provider of customer engagement and retention
solutions
Mit Hiteshkumar Shah, Ketankumar Rasiklal Shah,
Shrenikbhai Rasiklal Shah and 7 other Investors
Jus Amazin (2016, Bengaluru, $589K, Seed)
Provider of nutritional supplements and plant-based
foods
Sahil Kaul, Abhinay Chaudhari, Rajat Monga and 30
other Investors
Truein (2015, Pune, $270K, Angel)
Saas and AI-enabled platform offering visitor
management system
Kishor Kumar, Maheshkumar Parsottambhai Rupapara,
Saikat Majumder and 11 other Investors
Poster Maker (2021, Sahibzada Ajit Singh Nagar,
Unfunded)
Logos and posters creation platform for enterprises
Digital Class (2017, Ahmedabad, Unfunded)
Provider of online e-learning platform for students and
educators
Donna Infotech (2021, Surat, Unfunded)
An app lock system for locking private and social
photos, with the option for fingerprint lock
UniCreds (2021, Mumbai, Unfunded)
Marketplace offering abroad education loans to Indian
students
Karighar (2018, New Delhi, Unfunded)
Online first brand offering handcrafted home decor
products

20
NCSSoft (2007, Chennai, $140K, Angel)
Software for compliance management
Narayanan Subramaniamand
Plus91 Technologies (2009, Pune, Undisclosed,
Angel)
Online medical management platform
Manish Gupta,Aniruddha Malpani,Malpani
Venturesand
Rush Gaming Universe (2021, Delhi, Unfunded)
Crypto-based gaming platform to play casual games
50Fin (2022, Bengaluru, $525K, Seed)
100X.VC, Arun Venkatachalam, Keynote Capitals and 3
other Investors
Fresh Bus (2019, Bengaluru, $3.1M, Seed)
Offers own fleet of buses for travellers
Ixigoand
Aquatein (2015, Mumbai, $644K, Seed)
Developer of protein-infused water
MaGEHold, SM Capital, Laxmi Trading & Investments
Trade UNO (2015, Delhi, $155K, Angel)
Online B2B marketplace offering fabric
We Founder Circle,Yash Raj Gupta,RISEand
Talkies (2020, Bengaluru, Unfunded)
Digital video streaming platform
Shoption (2019, Pune, $91.5K, Seed)
B2B trade platform for irrigation products and
equipment
B&K Securities,Keshav Sanghi,Pramod Ahujaand
RESET Tech (2017, Mumbai, $1.6M, Seed)
Provider of a mobile app for practising yoga sessions
Vimal Kedia, Surendra Kedia, Narendra Firodia and 1
other Investors
Spice Story (2019, Mumbai, $35.3K, Seed)
Online platform offering a variety of chutneys
Namita Thapar, Ventureland Asia, NAFA Capital
Advisors and 34 other Investors
Serene Envirotech (2020, Mumbai, Unfunded)
Internet first brand offering smart bottles for home

21
Vegh (2022, Bathinda, $5.0M, Seed)
Manufacturer of powerful electric scooters
Saigeware Technologies (2019, Bengaluru, $256K,
Seed)
AI-based decision support tool for cardiac and
pulmonary practices
Ideaspring Capital, Chandrashekar Pathapati,
Parameswaran K Gopi and 2 other Investors
FellaFeeds (2017, Gurgaon, $22.4K, Angel)
Provider of customer feedback analytics solutions
Ayusha Khushboo Khan, Sourabh Sharma, Dhanu S and
1 other Investors
Minifeel (2021, Mumbai, $366K, Seed)
Online retailer offering multi-category beauty products
100X.VC, Yash Kotak, Niraj Chhajer and 2 other
Investors
Kuddle (2021, Bengaluru, Unfunded)
Provider of mutli-categoory pet parenting services
PointOne Capitaland
Pehlu Paglu (2022, Bhavnagar, Unfunded)
Provider of educational app for kids to learn English
and Gujarati languages
Reagene Biosciences (2016, Bengaluru, $51.6K,
Angel)
Provider of research reagents and kits
Suresh Poosala,Aruna Bayya,ASPIRE-BioNESTand
AggrePay (2017, Mumbai, $2.0M, Seed)
API based payment gateway provider
Gettin Techsoft India, Atraxn, Ibuild Software Solutions
Decipay (2019, Mumbai, $19.9K, Seed)
Software for POS payments
BlocPal, Icebreaker Tech, Kamal Mehta and 2 other
Investors
Logy.AI (2018, Hyderabad, $13.9K, Seed)
AI-based dental health monitoring tool for clinicians
IIIT Hyderabad,TIDES Business Incubatorand
Wholesaller (2017, Noida, Unfunded)
App-based B2B offering multi-category products
PSIand
SellerGeni (2020, Bengaluru, $46.3K, Angel)
Provider of AI-based e-commerce software suite
solutions to Amazon sellers
Ride Wave Ventures, Pentathlon Ventures, LetsVenture

22
Ace Blend (2012, Mumbai, $426K, Seed)
Internet first brand offering nutritional drinks
Bio-gen, Shubham Pharmachem Private Limited, Anaha
LifeCare and 1 other Investors
SkinQ (2021, Bengaluru, Unfunded)
Internet first brand offering multi-category natural skin
care products
CreedCap Asia Advisorsand
72 Networks (2014, Gurgaon, $511K, Angel)
Provider of web-based last-mile logistics services
Vishal Malhotra, Amit Bhushan Sharma, Prashant
Kumar Singhal and 4 other Investors
Altre (2023, Gurugram, $1.0M, Seed)
Offers an AI-enabled listing platform for buying and
selling commercial properties
AyushPay (2021, Delhi, Unfunded)
Offering insurance and loans for medical treatments
and health services
AllMiles (2012, Pune, $141K, Angel)
Provider of fleet management solutions
Prish Arun Meghani,MitKat Advisoryand
Xetgo (2020, Bengaluru, $160K, Seed)
Provider of SaaS-enabled software for managing the
packaging and supply chain industry
100X.VCand
Decornt (2019, Nagpur, Unfunded)
Online B2B marketplace platform offering multi-
category hotel supplies
PayRupik (, Bengaluru, Unfunded)
Digital platform enabling application processes for
consumer loans
Manentia AI (2020, Gandhinagar, $25.2K, Angel)
AI powered medical imaging solutions for radiologists
and clinicians
Sehba Srivastava,Vikram Misri,Shailesh Kauland
Studentink (2020, Ahmedabad, Unfunded)
Online platform offering students community solutions
Indyverse (2021, Gurugram, Undisclosed, Seed)
Online retailer offering multi-category fashion apparel
FALGUNI SHANE PEACOCKand

23
iIoTs (2018, Mandi, $10.0K, Angel)
Provider of air quality and landslide monitoring system
Aveg Agarwal,IIT Mandi Catalystand
Todi (2023, Coimbatore, Unfunded)
AI based influencer discovery platform for enterprises
Sygnal (2015, Hyderabad, $88.0K, Seed)
Internet-first brand of touch-enabled t-shirts for men
and women
WeSquare, Shailesh Fatechand Shah, Sundar
Rajagopalan and 8 other Investors
Alabaster Research (2018, Ahmedabad, $13.3K,
Seed)
Provider of personal mobility solution and neuro-rehab
device
National Design Business Incubatorand
Shupple (2020, Mumbai, Unfunded)
Online eCommerce platform that offers services to
D2C brands, retail stores, and local businesses
MentorBeep (2021, Pune, Unfunded)
Online platform offering courses to develop job skills
for students
Sereko (2021, Noida, Unfunded)
Internet first brand offering organic skincare products
HiGRID (2022, Mumbai, Unfunded)
Internet first brand offering mattresses
TechnoRishi Consulting (2013, Bengaluru,
Unfunded)
SaaS based business management solutions for
multiple industries
pSwitch (2020, Noida, Unfunded)
Diversified payment acceptance solution for businesses
Babyverse (2022, Nagpur, Unfunded)
Online community platform offering parenting
solutions
NotBot (2020, Raipur, Unfunded)
Platform offering WhatsApp marketing solutions for
businesses

24
Apna College (2020, Delhi, Unfunded)
Online platform offering coding courses and placement
preparation for students
Engage AI (2022, Noida, Unfunded)
AI-powered virtual concierge and upsell solution for
hotels

IPO Date Company IPO Mcap Exchange Ticker
07 Jul 2023
ideaForge (2007, Mumbai, $47.2M)
Manufacturer of multi-utility drones
$0.3B NSE:IDEAFORGE
21 Jul 2023
Drone Destination (2019, Delhi, )
Provides aerial survey and inspection services using drones
$0.0B NSE:DRONE
05 Jul 2023
Veefin (2017, Mumbai, $3.0M)
Provider of SaaS pricing-based supply chain financing solutions
$0.0B BSE:543931
21 Jul 2023
AHA! Solar (2017, Ahmedabad, )
Provider of software for solar designing
$0.0B BSE:543941
IPOs
List of IPOs in Fin Tech in July 2023
Fin Tech: IPOs
25

Acquisitions (1/2)
List of Acquisitions in Fin Tech in July 2023
Fin Tech: Acquisitions
26
Acq. Date Company Acquirer Deal Size
04 Jul 2023
RetailSoft(2011, Pune)
Omni channel software solutions for managing retail businesses
Entersoft
04 Jul 2023
KidzByte(2018, Mumbai, $0.5M)
Educational news app for children
JetSynthesys
07 Jul 2023
Shorebird Technologies(2015, Bengaluru)
Management solutions for travel service providers
Navan
11 Jul 2023
Vidgyor(2013, Bengaluru, $0.5M)
Live video streaming monetization solution
SilverPush
13 Jul 2023
Dr. Meat(2021, Bengaluru)
Online platform for ordering chicken
Zappfresh $3.0M
13 Jul 2023
LYNK logistics(2015, Chennai, $23.0M)
Provider of software solutions for brands and grocery retailers
Swiggy
17 Jul 2023
Flatheads(2018, Bengaluru, $2.4M)
Internet first brand offering casual shoes
Styched
17 Jul 2023
Route Mobile(2004, Mumbai, $23.0M)
Cloud based software for unified communication
Proximus Group $718.3M
18 Jul 2023
Neowise(2020, Mumbai)
Digital bank for individuals
Decentro
25 Jul 2023
fundgini.com(2009, Mumbai)
AI-driven platform providing fundraising and M&A deals matching
for companies
Pantomath Group

Acquisitions (2/2)
List of Acquisitions in Fin Tech in July 2023
Fin Tech: Acquisitions
27
Acq. Date Company Acquirer Deal Size
26 Jul 2023
Plix(2018, Bhiwandi, $5.5M)
Manufacturer of nutritional supplements
Marico $45.1M

Recent News (1/2)
Recent News in Fin Tech in July 2023
Fin Tech:News
28
Exit News
.
● Styched acquiresFlatheads, planning to acquire three more brands
ApparelResources
.
● Belgium’s Proximus Group to buy 57.66% stake in Route Mobile for Rs 5,922
crore Business Today
.
● CarTrade Tech to acquire OLX India’s auto business for ₹537 cr Adda247
.
● Sleepwell Parent To Acquire 35% Stake In Furlenco For INR 300 CrInc42
.
● SAMIL to acquire 81% stake in Honda Motor arm for Rs 1,059 croreBusiness
Standard
.
● Cyient’s Initial Public OfferingGlobal Legal Chronicle
.
● ZappFresh buys Bengaluru firm Dr. Meat to foray into Southern marketThe
Hindu
.
● Reliance Set To Acquire Alia Bhatt’s Ed-a-Mamma For INR 300-350 Cr Inc42
.
Fund News
.
● 3one4 Capital raises $200 Mn for its fourth early-stage fundEntrackr
● Matrix Partners expands India-focused fund to $525M amid funding winter
Moneycontrol
.
● Suffolk Technologies Closes $110M Inaugural Venture Capital Fund FinSMEs
.
● London VC firm RTP Global closes $1B fund to invest in seed, Series A rounds
in innovative startups Tech Funding News
.
● Recur Club Launches $10 Mn ‘Regreen Fund’ To Invest In Startups Enablers
.
● Klub partners with Oxyzo to facilitate Rs 100 crore to SMEs across India -
IndianStartupNews Indian Startup News
.
People News
.
● BYJU'S Advisory Council Now Has Rajnish Kumar and T V Mohandas Pai
IndianWeb2
.
● Byju’s appoints its former CBO Arjun Mohan as new CEO for international biz
Entrackr
.
● Sachin Bansal-Led Fintech Navi Fires 200 Employees Inc42
.
● Dukaan Layoffs: Indian SaaS Platform Hires AI Chatbot, Lays Off 90% of Its
Customer Support Staff Latestly

Recent News (2/2)
Recent News in Fin Tech in July 2023
Fin Tech:News
29
● ZEE shareholders reject reappointment of Alicia Yi as independent directorNew
Indian Express
.
● Edtech company Skill-Lync fires over 200 employees Entrackr
.
● Prominent Fintech Attorney Marc Boiron Steps in as CEO of Polygon Labs
Crowdfund Insider
.
● Simplilearn Strengthens Its Teams Through Key Leadership Appointments
SMEStreet.in
.
Company News
.
● Sequoia-Backed Cloud Kitchen Startup Rebel Foods Enters Saudi Arabia Inc42
.
● Auxilo Finserve, forays into Gujarat, earmarks Rs 100 crore for education
financingIndiatimes
.
● Nesa Medtech's Fibroid Mapping Reviewer Application Gains FDA Nodmpo-
mag.com
.
● Easiloan Com Enters In Pune Market BW Businessworld
.
● Nesa Medtech bags US FDA clearance for fibroid mapping reviewer application
IndiaMedToday
.
● SaaS firm Wingify to expand presence in APAC and Latin America Indiatimes
.
Regulatory News
.
● Government Orders Probe Into Byju's Books VCCircle
.
● RBI questions Federal Bank on OneCard partnership as fintech scrutiny
continues The CapTable

Deadpooled Companies
Index of companies in Fin Tech which became deadpooled in 07 2023
Fin Tech: Deadpooled Companies
30
Funding Company Location
The FanX New Delhi
HRtics Thrissur
Upskillz Bengaluru
Fregyan Kadapa
rangil das toy shop Surat
Right Shot Mumbai
Resumegulf Nagercoil
WriteJet
Zoga Bengaluru
Memeland Lucknow
MakeIntern Delhi
Tulr Bengaluru
Nearby Search
Cardseva Jaipur
AUTOGREEN
SYSTEMS
Jaipur
MerlinWMS
intrakt
ONIOCART
Visapay Gurgaon
MoneyMetrics Chennai
Rigour Mumbai

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Fin Tech: Explore more on Tracxn Platform
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