Startup Funding Spotlight: Key Deals to Watch from This Week (September 13–20) This week saw some remarkable funding rounds across various sectors, from edtech to mobility, healthcare, and financial services. These startups not only secured significant investments but are also set to impact their respective industries with new growth and innovation. Below are the key deals from September 13 to September 20.
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1. Physics Wallah
Funding Amount: USD 210 Million
Investors: Hornbill Capital, Lightspeed Venture Partners, GSV Ventures, WestBridge Capital Founded in 2020 by Alakh Pandey and Prateek Maheshwari, Noida-based Physics Wallah provides online and offline courses, study materials for competitive exams such as JEE and NEET, and state board exams. Expanding into higher education and skill-based learning, Physics Wallah aims to further revolutionise the edtech landscape with its latest funding round.
2. JBM Ecolife Mobility
Funding Amount: USD 100 Million
Investors: Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB)
A subsidiary of JBM Auto, JBM Ecolife Mobility operates around 1,200 electric buses across cities such as Mumbai, Delhi, Ahmedabad, Surat, Bhubaneswar, and Cuttack. The company is a key player in India's EV ecosystem, and this fresh investment aims to bolster its electric bus mobility infrastructure and enhance its position in urban transportation.
3. Onsurity
Funding Amount: USD 45 Million
Investors: Creaegis, International Finance Corporation, Quona Capital, Nexus Venture Partners
Onsurity, based in Bengaluru, offers subscription-based employee healthcare services to businesses. Launched in 2020 by Yogesh Agarwal and Kulin Shah, the platform caters to a wide range of employees, from full-time staff to contractors and consultants. With its growing portfolio that includes cyber insurance and liability insurance, Onsurity aims to expand its presence in the healthcare sector.
4. Redcliffe Labs
Funding Amount: USD 42 Million
Investors: Denmark's Investment Fund for Developing Countries (IFU), LeapFrog Investments, HealthQuad, Spark Growth Ventures
Redcliffe Labs, a Noida-based diagnostics service provider, operates in over 220 cities and has over 80 labs. Specialising in omnichannel diagnostics, this investment round will fuel further expansion and innovation in India's healthcare diagnostics space.
5. Aye Finance
Funding Amount: USD 30 Million
Investors: ABC Impact (Singapore), British International Investment (BII)
Aye Finance focuses on providing working capital loans to microenterprises in India. Founded in 2014, the Gurugram-based platform supports small businesses by offering quasi-mortgage and hypothetical loans. This investment will aid the company's mission to empower India's microenterprise sector.
6. Kaleidofin
Funding Amount: USD 13.8 Million
Investors: Rabo Partnerships B V, Michael and Susan Dell Foundation, Oikocredit, Omidyar Network India, Flourish Ventures
Founded in 2017 by Sucharita Mukherjee, Natasha Jethanandani, Puneet Gupta, and Vipul Sekhsaria, Chennai-based Kaleidofin is a financial services platform aimed at helping low-income customers and small businesses in India's informal economy. Through its various financial tools and credit solutions, Kaleidofin aims to unlock new opportunities for underserved customers.
7. DailyObjects
Funding Amount: USD 10 Million
Investors: 360 One Ventures, Roots Ventures
Started in 2012 by Pankaj Garg and Saurav Adlakha, Gurugram-based DailyObjects, a D2C tech accessories and lifestyle brand, offers a wide range of stylish and functional products, including tech accessories, bags, wallets, charging solutions, and stationery. This fresh funding will help the company scale its operations and enhance product offerings in the competitive tech accessories market.
8. Vahan.ai
Funding Amount: USD 10 Million
Investors: Khosla Ventures, Y Combinator, Gaingels, Paytm's Vijay Shekhar Sharma
Launched in 2016 by Madhav Krishna and Mohammed Abdoolcarim, Bengaluru-based Vahan.ai leverages AI chatbot technology to streamline recruitment and staffing for blue-collar workers. The new investment will support its mission to revolutionise workforce management and help businesses scale effectively.
