Tracxn - India Tech Monthly Funding Report

TRACXN MONTHLY REPORT
AUGUST 2023
FIN TECH

India Tech - August 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 12
Top Funded Business Models - last 1 year 14
New Analyst Picks 15
Acquisitions 26
Recent News 27

Fin Tech Snapshot – August 2023
Fin Tech: Snapshot – August 2023
Note : "Investors" refers to "Institutional Investors" only
3
$508M
18
Overall Geo Stats
20
8
93
117
60
Funding Rounds $ Invested Analyst Picks
Zepto Upgraded to
UNICORN
New Investors
Promus Ventures
Hewlett Packard
Enterprise
Series A+ rounds Active Investors IPOs Acquisitions
Penenza
Nyxion
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Bengaluru
(17 Rounds, $78.0M)
Mumbai
(12 Rounds, $339M)
Delhi NCR
(9 Rounds, $57.1M)
Delhi
(7 Rounds, $6.1M)
$200M - Series E
Zepto (2021, Mumbai, $561M)
$121M - Series C
Waaree (1989, Mumbai, $264M)
$50M - Series B
Credgenics (2018, Noida, $78.6M)
$25M - Series B
NSaaS (2016, Bengaluru, $25M)
IPV
(4 Investments)
Y Combinator
(3 Investments)
Venture Catalysts
(3 Investments)
EvolveX
(3 Investments)
Online Grocery
Zepto
Renewable Energy Tech
Waaree
Banking Tech
Credgenics
Logistics Tech
NSaaS
Market Size
Companies Covered 116,565
Funded Companies 12,591
Total Funding $160B
Funding in last 12 months $11.4B
Top Exits
IPOs 208
Acquisitions 1,502
Company Stage
Unicorns 90
Soonicorns 339
Minicorns 1,103
Editor Picks 7,168
Series A+ 2,166
Series C+ 486
Acqui-Hires 120
Deadpooled 32,810
Top Cities
Bengaluru (7,332 Rounds, $72.7B)
Delhi NCR (5,431 Rounds, $39.5B)
Top Investors
LetsVenture (397 Investments)
AngelList (352 Investments)

Investment Snapshot
Investment Snapshot of Fin Tech as of August 2023
Fin Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (August 2023)*
Zepto
(2021, Mumbai, $561M)
$200M - Series E StepStone Group
Waaree
(1989, Mumbai, $264M)
$121M - Series C ValueQuest
Credgenics
(2018, Noida, $78.6M)
$50.0M - Series B WestBridge Capital
NSaaS
(2016, Bengaluru, $25.0M)
$25.0M - Series B PreIPO
MediBuddy
(2013, Bengaluru, $184M)
$18.0M - Series C Quadria Capital
SatSure
$15.0M - Series A
Baring Private Equity Partners
India
Mahindra Electric
Automobile
(2023, Mumbai, $14.5M)
$14.5M - Series B Temasek
Zaggle
(2011, Hyderabad, $13.8M)
$11.8M - Series B ValueQuest
CredRight
$9.7M - Series B
Michael & Susan Dell
Foundation
GradRight
(2019, Hyderabad, $6.0M)
$6.0M - Series A IvyCap Ventures
Maxbyte
(2016, Coimbatore, $6.7M)
$5.0M - Series A e&
*Shows only the lead Investors

List of Funding Rounds (1/7)
List of Funding Rounds in Fin Tech in August 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
$18.0M - Series C
MediBuddy (2013, Bengaluru, $183.9M)
Online platform offering multiple healthcare services
Quadria Capital, Lightrock, TEAMFund
$120.9M - Series C
Waaree (1989, Mumbai, $264.1M)
Solar power solutions provider
ValueQuest
$200.0M - Series E
Zepto (2021, Mumbai, $560.9M)
Application based platform offering on demand
grocery delivery service
StepStone Group, Goodwater Capital, Glade Brook
Capital, Nexus Venture Partners, Lachy Groom
LATE STAGE
Series D
Shadowfax (2015, Bengaluru, $120.5M)
Provider of shipment and delivery services for e-
commerce businesses
Newquest
EARLY STAGE
$3.5M - Series A
Entri (2015, Kochi, $13.9M)
Mobile-based platform providing government exam
preparation and multi-disciplinary learning solutions
$5.0M - Series A
Unstop (2009, Delhi, $5.2M)
Online on-demand staffing platform for students
Mynavi, , Venture Catalysts, Caret Capital, 9Unicorns
$5.0M - Series A
Stable Money (2022, Bengaluru, $9.5M)
Online platform for investments in fixed-income assets
Matrix Partners India, Lightspeed Venture Partners,
Titan Capital, Mars Shot Ventures, Kunal Bahl, and 7
more

6
EARLY STAGE
$5.0M - Series A
Maxbyte (2016, Coimbatore, $6.7M)
Manufacturer of warehouses automation robots
e&
$6.0M - Series A
GradRight (2019, Hyderabad, $6.0M)
Comparison platform for student loans
IvyCap Ventures
$9.7M - Series B
CredRight (2016, Bengaluru, $16.2M)
Online marketplace for consumer and business loans
Michael & Susan Dell Foundation, YourNest, Accion,
9Unicorns
EARLY STAGE
$11.8M - Series B
Zaggle (2011, Hyderabad, $13.8M)
SaaS based expense management and card solution for
businesses
ValueQuest
$14.5M - Series B
Mahindra Electric Automobile (2023, Mumbai,
$14.5M)
Manufacturer of electric cars
Temasek
$15.0M - Series A
SatSure (2017, Bengaluru, $20.0M)
Satellite remote sensing and artificial intelligence
solutions
Baring Private Equity Partners India, Promus Ventures,
Luckbox, Force Ventures, Omidyar Network India, and
2 more
EARLY STAGE
$25.0M - Series B
NSaaS (2016, Bengaluru, $25.0M)
SaaS-based fleet management solution for fleet
operators
PreIPO
$50.0M - Series B
Credgenics (2018, Noida, $78.6M)
AI and cloud-based software for debt recovery
solutions
WestBridge Capital, Accel, Tanglin Venture Partners,
Beams Fintech Fund
Series A
Astrogate Labs (2017, Bengaluru, $627.5K)
Manufacturer of optical communication systems for
space applications
SatSure

7
EARLY STAGE
Series B
The Ken (2016, Bengaluru, $2.3M)
Online platform offering business news
Rainmatter Technology, Baskar Subramanian
Series A
Arcion (2018, San Mateo, $18.2M)
Cloud based platform offering data pipeline solutions
Hewlett Packard Enterprise
SEED STAGE
$30.2K - Seed
Upraised (2019, Mumbai, $1.3M)
Online platform for career guidance
Pontaq
$30.3K - Seed
RTIwala (2017, Seoni Malwa, $30.3K)
Cloud-based civic engagement platform for citizen data
requests
Pontaq
$84.7K - Angel
Ucliq (2019, Delhi, $135.5K)
Online B2B marketplace offering multi-category
grocery products
EvolveX, Vamsi Udayagiri
SEED STAGE
$96.8K - Seed
MyWays (2019, New Delhi, $299.3K)
Career guidance platform for IT professionals
Real Time Accelerator Fund
$121.2K - Seed
MagTapp (2018, Mumbai, $1.1M)
Provider of visual app used as dictionary and a web
browser
$150.0K - Seed
BabyOrgano (2019, Ahmedabad, $150.0K)
Internet first brand offering multi-category ayurvedic
personal care products for babies
DevX

8
SEED STAGE
$268.9K - Seed
Mynzo Carbon (2022, Gurugram, $268.9K)
Provider of a platform offering carbon emission
management solutions
$300.0K - Seed
Bidso (2022, Bengaluru, $1.5M)
Tech-enabled sourcing platform for brands
OfBusiness, DeVC, Mohit Sadaani, Nishit Garg, Saurabh
Jain, and 1 more
$301.7K - Seed
chargeMOD (2018, Thiruvananthapuram, $301.7K)
Provider of electric-vehicle charging and management
solutions
Phoenix Angels
SEED STAGE
$350.0K - Seed
Plus (2022, Udaipur, $350.0K)
Online platform offering reward points for buying
jewellery
EvolveX, Wells Fargo, VCats, We Founder Circle,
Venture Catalysts, and 4 more
$375.0K - Seed
Nexxio Technologies (2018, Bengaluru, $375.0K)
Cloud based B2B field sales management software for
SMBs
Malpani Ventures
$400.0K - Seed
Metashot (2021, Bengaluru, $496.2K)
Developer of mobile-based metaphysical cricket game
IPV, Ankit Mehrotra, Sahil Jain, Khalid Qazi
SEED STAGE
$480.9K - Seed
Inaari (2020, Mumbai, $480.9K)
Mobile application for women for menstrual cycle
management
HyugaLife
$500.0K - Seed
Monitra Healthcare (2015, Hyderabad, $500.0K)
Developer of smart device to monitor cardiac activities
91 Ventures, Lavni Ventures, AWE Funds, ACG Group,
Indian Angel Network, and 3 more
$500.0K - Seed
BluWheelz (2023, Delhi, $500.0K)
A tech-enabled logistics company with an EV fleet,
providing fleet as a service for first and last-mile
delivery
Faad Network, LetsVenture, Esteemed

9
SEED STAGE
$500.0K - Seed
Cheq (2021, Bengaluru, $10.5M)
Wallet-enabled payment solutions for citizens and non-
resident Indian citizens
Y Combinator
$500.0K - Seed
CheQ (2022, Bengaluru, $11.1M)
Online platform that manages repayments, rewards
and credit card bills
Y Combinator
$500.0K - Seed
GPU Network (1998, Delhi, $500.0K)
Platform providing computational infrastructure to
accelerate the adoption of AI, 3D & web3 industries
Momentum 6, AlphablockZ
SEED STAGE
$500.0K - Seed
MrMed (2020, Chennai, $500.0K)
Online pharmacy that delivers life saving medications
Beej Network, TNIFMC
$550.0K - Seed
Aretto (2019, Pune, $833.6K)
Internet first brand offering multi-category footwear
for kids
Veromint, Abhineet Singh, Shyam Raichura, Raunak
Munot, Vinayak Shrivastav
$1.0M - Seed
13SQFT (2019, Gurgaon, $1.0M)
Cloud-based B2B platform for warehousing services
IPV
SEED STAGE
$1.0M - Seed
ShipEase (2020, Haryana, $1.0M)
Platform offering shipping solution for businesses
IPV
$1.1M - Seed
VegaPay (2022, Mumbai, $1.9M)
Developer of an AI-based open banking platform
Eximius Ventures, Upsparks, MGA Ventures, Capri
Global Capital, Climber Capital, and 2 more
$1.2M - Seed
Bidso (2022, Bengaluru, $1.5M)
PeerCapital

10
SEED STAGE
$1.6M - Seed
Boxs (2022, Chennai, $1.6M)
Provider of software solutions for interior designers
and decorators
Surge, Titan Capital, Amrit Acharya, Rahul Sharma,
Srinath Ramakkrushnan, and 1 more
$1.7M - Seed
What’s Up Wellness (2020, Kolkata, $1.9M)
Online platform for the purchase of wellness
supplements
Unilever Ventures
$2.0M - Seed
The Fuel Delivery (2020, Mumbai, $3.0M)
App-based platform providing fuel delivery
management solutions
Drake Trade and Investment
SEED STAGE
$2.0M - Seed
Shaktimaan (2023, Bengaluru, $2.0M)
AI-powered educational platform for test preparation
Y Combinator, Goodwater Capital, FundersClub,
Misbah Ashraf, Nishchay AG
Seed
Nutrifresh (2019, Pune, $4.9M)
AI-based indoor hydroponic systems provider for green
vegetables
Neev Fund
Seed
BotLab Dynamics (2016, Delhi, $465.9K)
Provider of light-show drones and service solutions
Florintree
SEED STAGE
Seed
Qoruz (2016, Delhi, $8.5K)
Influencer marketing platform
Dexter Angels
Seed
Expertrons (2019, Mumbai, $6.5M)
Online candidate assistance platform for career
guidance
Hindustan Media Ventures, Iceland Venture Studio,
IvyCap Ventures, Venture Catalysts, Amar Ujala
Publications, and 1 more
Seed
Fitspire (2019, Delhi, $770.0K)
Manufacturer of nutritional and fitness supplements
Anuraag Jaipuria, Ruchirans Jaipuria

11
SEED STAGE
Seed
BizPay (2021, Navi Mumbai)
Software-based platform for expense management
solutions
IPV
Seed
Switch My Loan (2021, Mumbai)
Online lending marketplace for consumer and business
financing
O2 Angels Network, Angel Scions, SiriusOne, Rajesh
Ranjan, Jaydeep Thaker
Seed
ZEVO India (2022, New Delhi)
EV supply chain as a service platform offering end-to-
end supply chain solutions
Agility
SEED STAGE
Seed
Ecowrap (2017, Jaipur)
Online-based waste removal services provider
JITO Incubation & Innovation Foundation
Seed
Codevidhya (2016, Bengaluru, $996.8K)
Curriculum provider for teaching coding to school
students
Seed
Rupid (2022, Hyderabad)
Financial wellness platform for workers
PedalStart, Beej Network, EvolveX
SEED STAGE
Seed
SpaceBasic (2017, Bengaluru)
Mobile-based platform providing hostel management
solutions
Epic Angels, Turbostart,
Seed
Promptora (2023, Hyderabad)
Prompt-based generative AI platform for enterprises
Angel
Pluckk (2017, Mumbai, $5.0M)
Platform offering farm-fresh fruits and veggies
Kareena Kapoor Khan

New Investors (1/2)
List of New Investors in Fin Tech in August 2023
Fin Tech: List of New Investors
12
Investor Company Info Round Amount Round Name
Promus Ventures
88 portfolio companies | Venture capital firm focused on early-stage tech
companies
SatSure
Satellite remote sensing and artificial intelligence solutions
$15.00M Series A
Hewlett Packard Enterprise
26 portfolio companies | Platform offering HPC solutions
Arcion
Cloud based platform offering data pipeline solutions
Undisclosed Series A
Beej Network
4 portfolio companies | Angel network for companies
Rupid
Undisclosed Seed
Beams Fintech Fund
3 portfolio companies | Venture capital-backed accelerator focused on the
fintech startups
Credgenics
AI and cloud-based software for debt recovery solutions
$50.00M Series B
OfBusiness
4 portfolio companies | Tech-enabled platform that facilitates raw material
procurement
Bidso
$300K Seed
Amar Ujala Publications
2 portfolio companies | Production of news and publishing of newspapers
Expertrons
Online candidate assistance platform for career guidance
Undisclosed Seed
Real Time Accelerator Fund
6 portfolio companies | Sector agnostic startup accelerator
MyWays
Career guidance platform for IT professionals
$96.75K Seed
DeVC
4 portfolio companies | Venture capital firm focused on multiple sectors
Bidso
$300K Seed
SatSure
1 portfolio companies | Satellite remote sensing and artificial intelligence
solutions
Astrogate Labs
Manufacturer of optical communication systems for space applications
Undisclosed Series A
PedalStart
3 portfolio companies | Sector agnostic startup studio focused on early-stage
startups
Rupid
Undisclosed Seed

New Investors (2/2)
List of New Investors in Fin Tech in August 2023
Fin Tech: List of New Investors
13
Investor Company Info Round Amount Round Name
Phoenix Angels
2 portfolio companies | Nonprofit organization connects startups with investor
chargeMOD
Provider of electric-vehicle charging and management solutions
$302K Seed
PreIPO
1 portfolio companies | Digital marketplace for private securities that bring
buyers and sellers together in real-time
NSaaS
SaaS-based fleet management solution for fleet operators
$25.00M Series B
Neev Fund
13 portfolio companies | Private equity fund focused on multiple sectors
Nutrifresh
AI-based indoor hydroponic systems provider for green vegetables
Undisclosed Seed
sucseedindovation.com
1 portfolio companies | Welcome to nginx!
SpaceBasic
Mobile-based platform providing hostel management solutions
Undisclosed Seed
Caret Capital
1 portfolio companies | Diversified investment management firm
Unstop
$5.00M Series A
91 Ventures
1 portfolio companies | Venture capital firm focused on multiple sectors
Monitra Healthcare
Developer of smart device to monitor cardiac activities
$500K Seed
AlphablockZ
1 portfolio companies | Blockchain and cryptocurrency consulting services
GPU Network
Platform providing computational infrastructure to accelerate the
adoption of AI, 3D & web3 industries
$500K Seed
Epic Angels
5 portfolio companies | Venture capital investment in invest in pre-seed, seed,
and Series A rounds with pitching solutions
SpaceBasic
Mobile-based platform providing hostel management solutions
Undisclosed Seed
coursera.com
1 portfolio companies | 302 Found
Unstop
$5.00M Series A
ValueQuest
4 portfolio companies | Provider of portfolio management services
Zaggle
SaaS based expense management and card solution for businesses
$11.79M Series B

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.
14
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 $424M 14 Ola Electric | $300M | Series D
4 ▲58 Internet First Personal Loans Marketplace $275M 3 KreditBee | $120M | Series D
5 ▼-2 Ultrafast Grocery Delivery $275M 2 Zepto | $200M | Series E
6 -- Silicon Solar PV $248M 2 Waaree | $127M | Series C
7 -- College Education Loans Platforms $221M 5 Avanse | $96.8M | Series C
8 ▲184 Online Supplement Stores $216M 9 HealthKart | $135M | Series H
9 ▲35 Online Business Loans Marketplace $149M 5 Mintifi | $110M | Series D
10 -- Electric Rickshaw Manufacturers $148M 2 TI Clean Mobi.. | $145M | Series D

New Analyst Picks (1/11)
Interesting Companies identified by Analysts in Fin Tech in August 2023
Fin Tech: Analyst Picks
15
Upgraded to UNICORN
Zepto (2021, Mumbai, $200M, Series E)
Application based platform offering on demand
grocery delivery service
StepStone Group, Goodwater Capital, Nexus Venture
Partners and 14 other Investors
Upgraded to SOONICORN
Oxyzo (2016, Gurgaon, $200M, Series A)
Online lenders providing micro loans for businesses
Alpha Wave, Tiger Global Management, Norwest
Venture Partners and 3 other Investors
Upgraded to SOONICORN
Escrowpay (2015, Gurgaon, $772K, Series A)
Escrow-based payment solutions for merchants and
businesses
We Founder Circle, AngelList, Chhatisgarh Investment
and 61 other Investors
Upgraded to MINICORN
Credgenics (2018, Noida, $50.0M, Series B)
AI and cloud-based software for debt recovery
solutions
WestBridge Capital, Accel, Tanglin Venture Partners
Unstop (2009, Delhi, $5.0M, Series A)
Mynavi, , Venture Catalysts and 6 other Investors
Bidso (2022, Bengaluru, $300K, Seed)
PeerCapital, Mohit Sadaani, Nishit Garg and 4 other
Investors
Boxs (2022, Chennai, Undisclosed, Seed)
Provider of software solutions for interior designers
and decorators
Surge, Titan Capital, Amrit Acharya and 4 other
Investors

16
Added to Editor's Pick
EyeROV (2016, Kochi, $366K, Seed)
Manufacturer of an unmanned underwater vehicle
Kochouseph Chittilappilly, Venture Center, GAIL and 5
other Investors
Djubo (2015, Noida, $960K, Seed)
Cloud based property management platform for hotels
Ibibo Group,Naspers,Sanjay Bhasinand
Playo (2014, Bengaluru, $500K, Seed)
App-based platform for booking sports venues and
players
ah! Ventures, Parishek Finance, Deepu Kochukizhakkat
WEGoT (2015, Chennai, Undisclosed, Angel)
Provider of water management solutions
Gruhas, , HDFC Capital and 20 other Investors
GradRight (2019, Hyderabad, $6.0M, Series A)
Comparison platform for student loans
IvyCap Ventures,Sutra Venturesand
Sunfox (2016, Dehradun, $132K, Angel)
ECG monitoring device for heart monitoring and ECG
tests at home
Peyush Bansal, Namita Thapar, Anupam Mittal and 11
other Investors
Possible (2006, Bengaluru, $961K, Seed)
Provider of weight loss program d by health nutritionist
Aishwarya Rai Bachchan, Kirit Kumar Pathak, Kannan
Krishnan and 16 other Investors
TBO (2006, Gurgaon, Unfunded)
SaaS-driven distribution network solution for the travel
industry
Aavenir (2019, Ahmedabad, $6.0M, Series A)
AI-based procure management solution for businesses
Accel,ScOp Venture Capitaland
Cheq (2021, Bengaluru, $500K, Seed)
Wallet-enabled payment solutions for citizens and non-
resident Indian citizens
Y Combinator, Venture Highway, 3one4 Capital and 4
other Investors
Mugafi (2020, Gurugram, $690K, Seed)
Online platform offering music learning solutions
Auxano, Incisive Ventures, Appyhigh and 38 other
Investors
Tutorials Point (2006, Hyderabad, $867K, Seed)
Tutoring services for IT courses
Vijay Kedia, Manoj Tulsian, Sumeera Gupta and 8 other
Investors

17
Castler (2020, Delhi, $119K, Seed)
Escrow-based banking solutions for consumers and
businesses
Capital 2B, Stride Ventures, Piper Serica and 68 other
Investors
Verteil Technologies (2016, Kochi, $3.3M, Series A)
Provider of cloud-based NDC aggregator platform for
the airline industry
10 || 2 Capital Partners, Bluevibe Hospitality And
Logistics, Hassan Kunhi MP and 25 other Investors
ReNew (2011, Gurgaon, $3.0M, Series A)
Developer of independent power producer plants
Venrock, Expa, Madrona Venture Group and 2 other
Investors
Density (2022, Bengaluru, $1.9M, Series A)
Cryptocurrency derivatives exchange platform
Orios Venture Partners, First Port Capital, IPV and 5
other Investors
Courseplay (2012, Mumbai, $403K, Seed)
Cloud-based LMS platform for creating online courses
IPV, Firstport Capital, Pransh Capital Partners and 33
other Investors
Incuspaze (2016, Gurgaon, $1.1M, Seed)
Provider of coworking office spaces for businesses
Munish Chawla, Purvi Sandhya, Pravin Aggarwal and 3
other Investors
Stable Money (2022, Bengaluru, $5.0M, Series A)
Online platform for investments in fixed-income assets
Matrix Partners India, Lightspeed Venture Partners,
Titan Capital and 9 other Investors
NexStem (2020, Bengaluru, $1.2M, Seed)
AI-powered wearable device for electrodiagnostic
testing
BITS Spark, Info Edge, HostelFund and 4 other Investors
Upraised (2019, Mumbai, $30.2K, Seed)
Online platform for career guidance
Pontaq, Lightspeed Venture Partners, South Park
Commons and 6 other Investors
factoHR (2016, Mumbai, Unfunded)
Cloud-based suite solutions for HR management
EUME (2018, Mumbai, $493K, Seed)
Online platform offering luggage and accessories for
travelers
Mumbai Angels, JITO Incubation & Innovation
Foundation, Lead Angels and 20 other Investors
Snitch (2018, Bengaluru, $184K, Angel)
Internet first brand offering apparel for men
Anupam Mittal, Aman Gupta, Namita Thapar and 3
other Investors

18
Supersourcing (2020, Indore, $500K, Seed)
Online contract workforce recruitment platform for
remote software developer
Kube VC, Nitin Sethi, Nikhil Kumar Sharma and 15
other Investors
Farmonaut (2018, Bengaluru, Unfunded)
Provider of satellite-based crop analytics solutions for
farmers
RNFI Services (2015, Delhi, Unfunded)
Digital payment solution provider
iThink Logistics (2016, Mumbai, Unfunded)
Multi carrier shipping solutions for e-commerce
businesses
RISEand
Collectcent (2013, Gurgaon, $142K, Seed)
Mobile based ad networking platform for publishers
Kalawa Solutions,Seebo Enterpriseand
SpringPeople (2009, Bengaluru, Unfunded)
Online and offline courses and certification for
programming
Baaz (2019, New Delhi, $207K, Seed)
Manufacturer of electric scooters for deliveries
9Unicorns, Sumant Sinha, Kalaari Capital and 7 other
Investors
BOHECO (2013, Mumbai, $708K, Seed)
Provider of cannabis-derived nutritional and wellness
products
Candle Partners, Prerna Industries, Siddharth M Pai
Finsara (2022, Gurugram, $2.0M, Series A)
Provider of AI-enabled credit solutions for employees
Utsav Somani, AngelList, White Venture Capital and 12
other Investors
Dubdub.ai (2021, Bengaluru, $1.0M, Seed)
AI based dubbing and voiceover platform for
enterprises
Waveform Venture, Forward Slash, Force Ventures and
14 other Investors
Inferless (2023, Bengaluru, Undisclosed, Seed)
AI-based platform to deploy machine learning models
Peak XV Partners,Antler,Blumeand
Lendbox (2015, Delhi, $536K, Seed)
P2P marketplace for consumer loans
IvyCap Ventures, Vinod Rustagi, Online Potato
Consultancy and 1 other Investors

19
Tripjack (2012, Mumbai, Unfunded)
Distribution solution for the travel businesses
Afzal Pateland
Fedo (2017, Bengaluru, $49.2K, Angel)
AI-based health risks prediction and body vitals
monitoring platform
Unicorn India Ventures, Ashish Mehrotra, SEA Fund
AutoVRse (2016, Bengaluru, $176K, Seed)
Provider of VR studio
Shell,Bosch DNA acceleratorand
Aretto (2019, Pune, $550K, Seed)
Internet first brand offering multi-category footwear
for kids
Abhineet Singh, Shyam Raichura, Raunak Munot and
16 other Investors
Tesseract Learning (2015, Bengaluru, Unfunded)
Provider of learning management solutions
Hectar (2021, Chennai, $2.1M, Seed)
Provider of software solutions for food distributors
Powerhouse, WEH Ventures, All In Capital and 3 other
Investors
Primary Healthtech (2018, Delhi, $45.1K, Seed)
Provider of a portable multi-diagnostic device to
analyze patient health parameters
KIIT Technology Business Incubator, CCMB, Syed Arish
Ahsan and 2 other Investors
Pravaig (2016, Jaipur, $1.0M, Seed)
Provider of energy storage system for electric vehicles
Eren Groupeand
My Mandi (2021, Gwalior, $491K, Seed)
Provider of software suite solutions to hyperlocal
businesses
LetsVenture,Real Time Accelerator Fundand
Bautomate (2020, Madurai, Unfunded)
AI-based digital business process automation software
EcgPlus (2012, Mumbai, $190K, Seed)
End-to-end Patient Documentation Suite
Laxmi Dental Export, Vikas Mathur, Dhirendra Singh
Yali Mobility (2018, Chennai, $62.5K, Seed)
Developer of smart vehicles for elderly and people with
locomotors disabilities
Altair,GAIL,IIT Madras Research Parkand

20
Welly (2020, Delhi, $132K, Seed)
Provider of healthcare supplements
Anthill, Roshan Abbas, Allu Sneha Reddy and 1 other
Investors
Retail Scan (2011, Mumbai, Unfunded)
Provider of retail audit and customized in-store
services
Hopnob (2022, Gurgaon, $131K, Grant (prize money))
Online platform offering AI-based personalized fashion
recommendations
CIIE, IIMA, Deep Kalra and 2 other Investors
Billeasy (2015, Mumbai, $135K, Seed)
Paperless billing & payment tracking platform for
businesses
Dilip Mehta, Anirudh Mehta, Dishat Mehta and 9 other
Investors
Awarathon (2016, Goregaon, Unfunded)
Platform offering AI enabled sales simulator
Xeuron.ai (2019, Bengaluru, Undisclosed, Grant
(prize money))
Provider of AI-based platform for monitoring and risk
prediction of neurodegeneration
DERBI Foundation, LetsVenture, Raghunandan
Gangappa and 1 other Investors
iMedrix (2015, Bengaluru, Undisclosed, Seed)
AI and cloud-based ECG monitoring device for
providers
DEFTA Partners, Mission Growth Investments, Doctors
for Health Innovation and 1 other Investors
Bigtruck (2012, Bengaluru, Unfunded)
App-based marketplace for on-demand trucking
services
CodeTantra (2011, Hyderabad, Unfunded)
Cloud platform for teaching programming.
Jain Panchang (2013, Mumbai, Unfunded)
Provider of a Jain calendar app
OfficingNow (2015, Mumbai, $109K, Angel)
Online marketplace to book private offices
Subramanian Somasundaram, Sangita Pillai, Monali Tuli
Supernova (2021, Bengaluru, $1.1M, Seed)
Platform offering online quizzes for kids
Lumikai, Kae Capital, All In Capital and 15 other
Investors

21
Urban Monkey (2013, Mumbai, Unfunded)
Provider of internet first brand offering multi-category
fashion products
Plus (2022, Udaipur, $350K, Seed)
Online platform offering reward points for buying
jewellery
EvolveX, Wells Fargo, VCats and 8 other Investors
Study24x7 (2016, Noida, Unfunded)
Online social learning platform
Sangti (2022, Indore, $270K, Seed)
Carbon management platform that assists in managing
carbon emissions
Antlerand
Dangal Play (2004, Indore, Unfunded)
OTT entertainment platform offering TV shows and
movies
Zivov (2020, Delhi, $264K, Seed)
Provides AI based chronic care platform for patients
and doctors
Reddy Futures, Kunal Bahl, Rohit Kumar Bansal and 7
other Investors
Keploy (2022, Bengaluru, Unfunded)
Cloud based test case generation platform
Upsparksand
Finfi (2021, Mumbai, $270K, Seed)
Cloud based platform for employee financial benefits
LetsVenture,Manjiri Sharma,Bharat Kaliaand
Rupyz (2016, Gurgaon, $353K, Angel)
B2B digital storefront solutions for e-commerce
businesses
Nitin Johar, Akanksha Goyal, Kumar Mahpatra and 23
other Investors
Ezeeinfo (2016, Chennai, Unfunded)
Fleet management platform
Chokore (2015, Gurgaon, Unfunded)
Internet first brand offering apparel wear for men and
women
Dog Identifier (2022, Surat, Unfunded)
App that uses advanced computer vision techniques to
identify a dog's breed by analyzing its photo

22
Collectiv (2023, Bengaluru, Unfunded)
AI and GPT-powered platform to assist developers
Diycam (2015, Mumbai, Unfunded)
AI model development services along with assembled
computers for AI training
Brand Capital GSV,IPVand
ExtraPe (2021, Bengaluru, Unfunded)
App-based social deals sharing platform offering a wide
range of products
epitome (2020, Bengaluru, $130K, Seed)
Al driven career builder platform provider
Amgele Family Private Trustand
Upswing (2019, Pune, $43.8K, Seed)
AI, blockchain and web enabled guest engagement
solution for hotels
Framed Venture Capitaland
Inquizity (2010, Mumbai, Unfunded)
Provider of cloud-based supply chain planning and field
force management solutions
Armax (2005, Bengaluru, Unfunded)
Provider of solar plant monitoring platform
Student Unique Card (2015, Hyderabad, $1.0M,
Angel)
School management technology provider
Novledge Angelsand
IS.U (2015, Bengaluru, Unfunded)
Online platform for buying fashion apparel for women
BuySellSignals (1983, Pune, Unfunded)
Online stock research and analytics platform for
individuals
Amarnath Partnersand
MyEvPlus (2022, Delhi, Unfunded)
Online platform providing ride-hailing services with
electric fleet
Zobbr (2018, Gurgaon, Unfunded)
Online social travel marketplace network

23
BizUp (2021, Delhi, Unfunded)
B2B wholesale app for buyers and sellers in the fashion
industry
Ludo 365 Game (2021, Pune, Unfunded)
Online multiplayer board game that allows users to
earn real cash
MLM World (2013, Ahmedabad, Unfunded)
MLM software for businesses
The Indian Garage Co (2011, Bengaluru, Unfunded)
Internet first brand offering casual wear for men and
women
Stockbox (2021, Dehradun, Unfunded)
Research analyst providing long-term investment
advice and portfolio hedging solutions
Beyond Follow (2022, Bengaluru, Unfunded)
Online fashion platform offering clothing products
Support App (2022, Delhi, Unfunded)
Application providing private conversations over chat,
call, or video call
Moto Business Service India (2021, Bengaluru,
Unfunded)
Provider of vehicle leasing services focused shared
mobility industry
Hyperzod (2019, Lucknow, Unfunded)
Online ordering and delivery management system for
various industries, and helping the e-commerce
industry with hyperlocal deliveries
Spare Care (2015, Delhi, Unfunded)
Dealership management system for automotive
dealerships
CargoFL (2017, Pune, Unfunded)
AI driven technology ecosystem for logistics businesses
Just Procure (2020, Gurugram, Unfunded)
E-distributor offering a variety of building supplies
Xscaleand

24
MokkoMotto (2020, Bhubaneswar, Unfunded)
Manufacturer of GaN chargers
Smart Sales Kit (2021, Mumbai, Unfunded)
Platform offering customizable sales documents to
businesses
The Policy Exchange (2022, Noida, Unfunded)
Think tank that develops and promotes new policy
ideas
Zapid (2022, Mumbai, Unfunded)
Provider of e-commerce fulfillment and supply chain
management platform
Veer11 (2022, Bikaner, Unfunded)
Fantasy sports platform
Worthy Essentials (2021, Mumbai, Unfunded)
Internet first brand offering hair care products
MyFirstDiscount (2019, Gurugram, Unfunded)
Online platform providing coupons and deals for multi-
channels
Artyvis (2020, Bengaluru, Unfunded)
AI-based product discovery solutions for fashion
products
amag beauty (2020, Delhi, Unfunded)
Internet first brand offering color cosmetics
Photo Keyboard (2022, Unfunded)
Keyboard app that allows users to customize their
keyboard themes using their own photos
Root and Soil (2019, Coimbatore, Unfunded)
Online platform offering multi-category natural baby
care products
KotaDoriaSilk (2015, Kota, Unfunded)
Internet first brand offering ethnic wear for men and
women

25
Catalystt (2023, Ahmedabad, Unfunded)
B2B marketplace platform for chemicals
Eat Neat Project (2018, Bengaluru, Unfunded)
Farm using aquaponics to grow organic food

Acquisitions
List of Acquisitions in Fin Tech in August 2023
Fin Tech: Acquisitions
26
Acq. Date Company Acquirer Deal Size
03 Aug 2023
Penenza(2022, Bengaluru)
Platform offering buy now pay later and lead generation solutions
for businesses and banks
TenChat
08 Aug 2023
Nyxion(2016, Gurgaon)
Provider of an AI based email marketing platform for enterprises
Another Acquisition
16 Aug 2023
Slash(2020, New Delhi)
Fintech platform offering buy now pay later solutions
Finix Partners
18 Aug 2023
Yogtech(2018, Miraj)
Lithium battery manufacturer
Shubhson Automotive $1.0M
18 Aug 2023
Vervotech(2018, Pune)
Provider of tech services for the travel industry
Juniper Group
22 Aug 2023
FundsIndia(2009, Chennai, $16.6M)
Online investment platform for mutual funds & other financial
products
WestBridge Capital
23 Aug 2023
OLX India(2006, Gurgaon)
App-based classifieds portal to sell/buy/rent goods & services
CarTrade
29 Aug 2023
32 Watts(2017, Delhi)
Manufacturer of teeth aligners
Rejov

Recent News (1/2)
Recent News in Fin Tech in August 2023
Fin Tech:News
27
Exit News
.
● ZEE-Sony merger gets NCLT's nod Adgully
.
● Titan takes over remaining 27.18% stake in CaratLane for Rs 4,600 crore, to
hold 98.28% share now Business Today
.
● Param Acquires Twisto: Fintech Expansion Across Europe | FinTech
fintechmagazine.com
.
● TVS Supply Chain IPO listing date today; Here is what GMP signalsLivemint
.
● InMobi snaps up consent management firm QuantcastVCCircle
.
● Medfin, THB Backer HealthXCapital Merges With Jungle VenturesEnablers
.
● Zaggle Prepaid Ocean Services raises ₹98 crore in pre-IPOLivemint
.
● Xpressbees acquires delivery firm TrackOn Indiatimes
.
Fund News
.
● Indian early-stage investor pi Ventures raises $85m to back AI, deeptech
startupsshareandstocks.com
● Sachin Bansal’s Navi Finserv Raises ₹163 Crore In Securitization Transaction
With Citi, Northern Arc Livemint
.
● Zerodha to pump additional $121 mn into startup fund VCCircle
.
People News
.
● Tiger-Global backed used cars platform Spinny lays off 300 TechPortal
.
● Pine Labs Appoints Former OnePlus CEO Navnit Nakra As Chief Revenue
Officer Inc42
.
● Byju's business head resigns amid reorganisation at Indian startup VCCircle
.
● Byju Fires 400 More Employees After Performance Review Pragativadi
.
● BYJU’S Ropes In Former Infosys HR Head Richard Lobo As Advisor Inc42
.
● WhiteHat Jr CEO Ananya Tripathi Quits In Another High-Level Departure At
BYJU’S Inc42
.
● BYJU'S senior exec exits, to lead US firm Impending Inc Devdiscourse

Recent News (2/2)
Recent News in Fin Tech in August 2023
Fin Tech:News
28
● Freshworks appoints Johanna Jackman as Chief People OfficerYourStory
.
Company News
.
● PhonePe launches stock broking platformDeccan Herald
.
● Digital payment aggregator PhiCommerce sets up Singapore operations
BusinessFortNight
.
● Vinsys Expands Presence in the US Market Following Successful Entry into the
Federal Space 24-7 Press Release
.
● Tiger Global-backed Mensa Brands enters UAE market YourStory
.
● Zumutor Biologics announces FDA clearance of IND application of ZM008 to
treat cancer IndiaMedToday
.
● Healthtech Unicorn Pristyn Care Looks East, Launches Bangladesh OpsInc42
.
● Snitch to expand into offline retail with first store this July Fashion Network
.
Regulatory News
.
● CaratLane Challenges ED Notice Alleging FEMA ViolationsInc42

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Explore more about Fin Tech on Tracxn Platform
Fin Tech: Explore more on Tracxn Platform
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