Indian Startups Continue To Struggle For Fundraising
At this point, massive investment Banks Delhi agreements at unicorns look to be a thing of the past, with apprehensive investors pulling out due to the uncertainty in the technology sector.
As highly valued businesses have struggled to secure startup funding, it has been months since we last saw Indian startups land agreements worth more than $100 million.
Amid severe macroeconomic headwinds, investors have become exceedingly cautious and prioritize profitability over growth.
As of the third quarter of the year, there were just three investment rounds of $100 million or more, down from 29 in the first quarter of the year (as of August 24).
Below is the list of the major deals that took place this week:-
WOW MOMOS
Private equity firm Oaks Asset Management invested $16 million in Wow Momo Foods at a valuation of Rs 2,125 crore.
Wow Momo plans to aim for Rs 100 crore in a second round, which will be organized with another fund.
The company intended to improve the FMCG division of Wow Momo and expand its business with the fresh infusion.
CERTIFYOS
In A Series A funding round led by General Catalyst, a US-based health tech startup raised $14.5 million.
Investors like Upfront Ventures, Max Ventures, and Arkitekt Ventures also took part in the fund raising round.
GROMO
GroMo is a fintech platform that provides financial solutions in tier 2 and above cities. SIG Venture Capital, the Asian venture capital branch of SIG, a multinational proprietary trading and private equity investment organization, has invested $11 million in the startup.
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