Welcome to our February 2024 Startup Funding Roundup, where we delve into the dynamic world of Indian startups and explore the latest investments that have been making waves in the entrepreneurial ecosystem.
As February bids farewell, it’s time to highlight the innovative ventures that have secured funding, showcasing the continued momentum and investor confidence in India’s burgeoning startup landscape.
From groundbreaking tech solutions to disruptive business models, join us as we unravel the stories behind the recent funding rounds and the promising trajectories of these emerging enterprises.
Internet First Brands
“Internet-first brands” refer to companies that have primarily established and grown their businesses online, leveraging the internet as their primary platform for operations, marketing, and sales. These brands often prioritize digital channels over traditional brick-and-mortar stores or distribution methods.
Characteristics of internet-first brands include:
- Digital-Native Approach
- Direct-to-Consumer (DTC) Model
- Agility and Innovation
- Community Building
Some Internet First Brands That Received Funding In Feb 2024:
- Mokobara, offering customized luggage bags, raised series B round of USD 12 million from Peak XV Partners, Sauce, & Saama Capital
- Happi Planet, Provider of eco-friendly home cleaners, raised USD 1.02 Million form Fireside Ventures
Learn more
Source: Tracxn
Some AI Startups That Received Funding In Feb 2024:
AI startups are companies that focus on developing and applying artificial intelligence (AI) technologies to solve specific problems or create innovative products and services. These startups typically leverage machine learning, natural language processing, computer vision, robotics, and other AI techniques to automate tasks, analyze data, and make intelligent decisions.
Here are some key characteristics of AI startups:
- Cutting-Edge Technology
- Problem-Solving Orientation
- Data-Centric Approach
- Interdisciplinary Teams
Some AI Startups That Received Funding In Feb 2024:
- Attentive AI, Provides SaaS and AI-based mapping products for delivering actionable insights to businesses, raised series A of 7 million USD from Vertex Ventures, Info Edge Ventures, Surge, RedStart Labs, & Peak XV Partners
- Segwise, product monitoring and analytics software for product teams, raised Seed round of 1.6 million USD from Powerhouse Ventures, Antler, Blume, Everywhere, Saka Ventures, The Untitled Ventures, & Kunal Shah
Learn more
Source: Tracxn
Some FinTech Startups That Received Funding In Feb 2024:
FinTech startups are companies that leverage technology to innovate and disrupt traditional financial services. “FinTech” stands for Financial Technology, and these startups utilize software, mobile apps, algorithms, and other digital tools to offer financial products and services in more efficient, convenient, and affordable ways compared to traditional financial institutions.
Here are some key types of FinTech startups:
- Digital Banking and Payments
- Lending and Crowdfunding
- Personal Finance and Wealth Management
- InsurTech
- Blockchain and Cryptocurrency
- RegTech and Compliance
Some FinTech Startups That Received Funding In Feb 2024:
- Dvara KGFS, Agent-based and correspondent banking solutions, raised 27 million USD from FMO, Agent-based and correspondent banking solutions.
- FlexiLoans, online marketplace for business loans, raised 7.23 million USD from Vivriti Asset Management
Learn More
Source: Tracxn
Conclusion:
In contrast to January, where fund inflow for Indian startups exceeded $1 billion, February didn’t surpass this threshold. However, the month still saw consistent growth, buoyed by a few substantial funding rounds.
According to data from Fintrackr, Indian startups collectively raised $860 million across 81 deals in February. This comprised $448 million from 12 growth-stage deals and $411 million from 69 early-stage deals. Additionally, funding details for nine startups remained undisclosed. In comparison, January witnessed over 100 startups securing nearly $1.2 billion in funding.
