Top Funding Highlights: Startups of the Week [May 24–31] The startups with the highest funding raised this week, from May 24 to May 31, are listed below. A quick rundown of them is as follows:
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Flipkart: Founded in October 2007 by Sachin Bansal and Binny Bansal, Flipkart is a Bengaluru-based e-commerce company. The company started off selling books online before branching out into other product categories like groceries, clothes, home goods, technology, and lifestyle items.
Funding Amount: USD 350 Mn
Investors: Google
Infra.Market: Launched in 2016 by Souvik Sengupta and Aaditya Sharda, the Thane-based Infra.Market sells construction materials, infrastructure goods, and technical equipment. The platform caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector.
Funding Amount: USD 50 Mn
Investors: MARS Unicorn Fund
Euler Motors: Established in 2018 by Saurav Kumar, the New Delhi-based startup specialises in building electric three-wheeler vehicles for intra-city goods transportation.
Funding Amount: Additional INR 200 Cr
Investors: British International Investment, Blume Venture, and Piramal Alternatives India Access Fund
BluSmart: Started In 2019 by Anmol Singh Jaggi, Punit K Goyal, and Puneet Singh Jaggi, the Gurugram-based company provides electric ride-hailing mobility services.
Funding Amount: USD 25 Mn
Investors: Undisclosed. Its existing investors, such as BP Ventures, Survam Partners, Mayfield India Fund, 9Unicorns (now 100Unicorns), JITO Angel Network, Green Frontier Capital, Stride Ventures, Alteria Capital, and BlackSoil, are most likely to participate in the round.
Zypp Electric: Founded in 2017 by Akash Gupta, Rashi Agarwal, and Tushar Mehta, the Gurugram-based Zypp Electric provides electric scooters to local merchants and e-commerce companies for last-mile deliveries.
The company currently delivers groceries, medicines, food, and e-commerce packages from point A to point B through their fully automated IoT and AI-enabled scooters.
Funding Amount: USD 15 Mn
Investors: ENEOS, 9 Unicorns, IAN Fund, Venture Catalysts, and WFC
TechnoSport: Founded in around 2015 by Sunil Jhunjhunwala and Sumit Santhalia, the Bengaluru-based brand offers high-performance apparel tailored for the Indian market at remarkably affordable prices.
Funding Amount: INR 175 Cr
Investors: A91 Partners
Libas: Led by Sidhant Keshwani, the Delhi-based platform provides comfortable fusion silhouettes and ethnic wear for women. It is available online at Flipkart and Myntra, and it is also available offline at EBOs, big-box stores, and multi-brand outlets.
Funding Amount: INR 150 Cr
Investors: ICICI Venture
