startup funding: ETtech Deals Digest: Investors continue to exercise caution

For the second week, no big funding took place as VCs continued to exercise caution in an uncertain economic environment. A few startups, however, landed moderate amounts to ease the funding gloom. Here’s a look at who all raised this week:

Here’s a list of all the deals from this week.

Innoviti raised $25 million more from Panthera

Payments-focused fintech Innoviti
raised $25 million from Singapore’s Panthera Growth Partners to close its $45 million Series D round. Alumni Ventures, Patni Family Office and Bessemer Venture Partners also participated in the round. The company provides technology-led payment solutions and point-of-sale terminals for businesses, offline merchants, and small retailers, by partnering with banks and digital payment providers. It will use the funds raised to enhance its distributions and acquisitions.

MarketWolf closed a $10 million round

Stock trading platform MarketWolf
raised $10 million in a funding round led by Jungle Ventures and Dream Capital. Existing investors like 9Unicorns and Iseed also participated in the round. Founded in 2017 by Vishesh Dhingra and Thomas Joseph, MarketWolf targets first-time investors to make the trading experience easy and jargon-free. It has about 1.5 million users and plans to use the funds raised for marketing efforts.

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QueuBuster landed $8.16 million

Mobile-based point-of-sale (PoS) startup, QueueBuster
raised about $8.16 million in a fresh funding round led by Chiratae Ventures, Omidyar Network India and Flourish Ventures. Founded in 2016 by Varun Tangri, QueueBuster is a full-stack mobile PoS application provider that helps businesses manage billing, inventory, daily ledger, and customer loyalty programs from a single application. Since January 2021, it has recorded more than 12 million invoices worth over Rs 1000 crore.

AntWalk raised $7.5 million from GSV Ventures

B2B edtech platform AntWalk
raised $7.5 million from GSV Ventures, Y Combinator and Matrix Partners India. AntWalk is an e-learning company that helps organizations accelerate and transform their learning and development (L&D) model, paving the way for continuous learning by professionals. The startup will use the funds raised to strengthen its learning experience platform (LXP) using gamification, build a content pipeline and expand sales.

The Baker’s Dozen bagged $5 million

Direct-to-consumer (D2C) brand The Baker’s Dozen
raised $5 million in a mix of debt and equity, led by Fireside Ventures. Founded in 2013 by Sneh Jain and his wife Aditi Handa, the head baker at The Baker’s Dozen, the startup produces sourdough bread, cakes, cookies and crackers from a factory near Ahmedabad. It claims to have grown sales by 5x to Rs 30 crore last year and plans to deploy fresh capital for scaling the business.

Other done deals:

■ Finvu AA, a consent-based account aggregator,
raised $2.5 million in funding from Varanium Nexgen Fund, IIFL, DMI Sparkle Fund, and others. The company is the first Indian non-banking financial company (NBFC) account aggregator to receive an operating license from the Reserve


■ Sports tech startup Hudle
raised $1 million (Rs 7.9 crore) in a funding round led by Inflection Point Ventures. The round also saw participation from existing investors Survam Partners and Indian Angel Network.

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