ClickPost, a logistics intelligence platform, has raised $6 million in a funding round led by Inflexor Ventures and Athera Venture Partners. The funds will be utilized to introduce enhanced products and expand the company’s presence in existing and new markets. ClickPost offers services like delivery dates, multi-carrier integration, tracking visibility, and omnichannel enablement.
Bengaluru-based B2B e-commerce company Jumbotail has raised Rs 151 crore in a funding round led by Singapore-based venture capital firm Artal Asia. Jumbotail plans to use the funds to scale up its products and services for new and emerging brands. The company aims to be fully profitable by the end of 2024.
Cedar Capital, the fintech-focused venture capital arm of Cedar and IBS Intelligence, has raised Rs 240 crore ($30 million) for its FinTech Venture Capital fund. The fund aims to invest in early-stage startups, with a focus on banking technology and B2B fintech startups. Sahil Anand, founder and managing partner of Cedar Capital, stated that the fund will back B2B companies in the banking infrastructure and systems space.
India’s startup ecosystem faced a funding decline of 65.8%, raising only $6.9 billion across 1,013 venture capital (VC) deals during January-November 2023, compared to $20.2 billion in the previous year. A report by GlobalData reveals that the US also experienced a decline of 42% in deals volume and 44% in deals value. Despite the challenging funding winter, Indian startups remain optimistic as VC firms still find India an attractive market.
November marked a lull for private equity and venture capital (PE-VC) as investments did not cross the $1 billion mark. PE-VC investments came in at a record low of $800 million from just 51 deals, representing a 73% decline compared to the same month last year. Only two mega deals were recorded in November, compared to six in the same period last year.
ShipGlobal, a cross-border logistics firm, has secured $2.5 million in funding from Info Edge Ventures. The firm, which primarily assists small and medium-sized sellers in India who sell through ecommerce platforms, plans to use the funds to expand operations to Australia and West Asia, enhance its tech capabilities, and increase its presence with new sellers. ShipGlobal has already raised over 15,000 sellers in India and ships their products to the US, Canada, and the European Union.
India’s digital healthcare market could generate $37 billion in revenue by 2030, consulting firm Boston Consulting Group and venture capital firm B Capital have said in a joint report. In 2022, the total revenue generated by the digital healthcare market in India represented 1-2% of the country’s overall healthcare market. This is expected to increase to 7-8% by the end of the decade.
Intercity food delivery startup JustMyRoots has acquired The State Plate (TSP), which operates in the non-perishable packaged food segment, as part of its plans to expand presence in the packaged intercity food market across the country.
Veda VC, an early-stage venture capital fund, has announced the first close of its Rs 250 crore (about $30 million) fund. The fund plans to invest between $250,000 and $1.25 million in startups across consumer internet, software-as-a-service, fintech, and deeptech.
