The Week that Was: Indian Startup News Overview (29th July - 2nd August)
The Indian startup ecosystem has set a new record by bagging another round of funding in a few sectors like Wedding related services, EV, Food & Beverages, Chemical manufacturing, & Transportation marking another win for the startupreneurs by raising funds and updating the growth probability and standardizing the products and services. The week went by successfully witnessing funds in every stage of funding from New to Pre-series A to Series A to Series E Funding round.
Sector: Wedding related services
Funding Round: New Funding round
Startup: Meragi
Established Year: 2021
Funding News: Marriage services providing Startup 'Meragi' nets $9.1 million from Accel
Meragi, a start-up that provides wedding services has successfully raised $9.1 million in a new round of funding.
Investors: Accel, Peak XV Partners & Venture Highway.
Meragi stated in a press release that the funding will be used to expand into new cities, establish partner venues and experience centers, and venture into newer categories like venues and catering.
Meragi is a modern wedding-related service provider that was co-founded in the year 2021 by Mukund Mohan Raj, Abhinav Chandran, and Lakshminarayan B. It offers services like decoration, photography, videography, makeup, hairstyling, mehendi, catering, venue, entertainment, and invitations.
Users can discover, design, and purchase these products and services for a variety of life events through the platform. Similarly, it offers packages for destination wedding in Goa, Coorg, Chikkamagaluru, Mysuru, and Bengaluru. The Bengaluru-based startup asserts that it has conveyed 3,000 occasions, enrolled 
48 crore in Gross Merchandise Value (GMV) last year and means to twofold this toward FY25's end.
48 crore in Gross Merchandise Value (GMV) last year and means to twofold this toward FY25's end.
Sector: EV
Funding Round: Pre-Series A
Startup: ElectricPe
Established Year: 2021
Funding News: EV Super App 'ElectricPe' drives $3 million in Pre-series A
Electric vehicle super-application ElectricPe has brought $3 million up in pre-Series A round.
Investors: Green Frontier Capital, Blume Adventures, Micelio Asset, and NB Ventures.
The Bengaluru-based organization had recently brought $5 million up in pre-Series A round from its current financial backers. The newly raised capital will be utilized for development, development drives, and extension to new geographic areas, ElectricPe said in a public statement.
Co-Founded in by Avinash Sharma and Raghav Rohila in May 2021, ElectricPe is a full-stack super - application that permits clients to recognize, access and pay for EV charging focuses no matter what their charging type.
ElectricPe says that it works in excess of 25,000 public chargers and cases to have caught more than 15% of the share in the market of all private EV 2-wheeler deals in Bengaluru in 8 months or less.
ElectricPe may compete with other startups in EV industry, including e-Amrit, Statiq, PlugShare, and others, either directly or indirectly.
Green Frontier Capital is a beginning phase VC fund and upheld a portion of the key startups like Battery Smart, BluSmart Mobility, E-Motorad, Nutrifresh among others.
Sector: Food & Beverages
Funded Round: Pre-Series A
Startup: Latambarcem Brewers
Established Year: 2017
Funding News: Craft Beverage Startup 'LB Brewers' brews $1.5 million in Pre-series A
Latambarcem Brewers, a craft brewery startup has successfully secured $1.5 million (approximately 12.5 crore) in a Pre-series A funding round.
12.5 crore) in a Pre-series A funding round.
Investors: SPV, Dhruv Agarwala, Sheba Venture Holdings
Co-established in the year 2017 by the brothers Aditya Ishan Varshnei & Anish Varshnei, LB Brewers functions under an all-rounded strategy including manufacturing, product development, supply chain and brand image building. Also, the platform presents two key brands namely Maka Di and Borecha. Maka Di offers a wide array of unique craft beers. In contrast, Borecha is a practical beverage brand presenting a collection of health forward beverages with a main product called probiotic kombucha.
As per the startup based in Goa, the company provides many other products such as Bavarian Keller, Super Maka, Belgian Triple and many others. The company privileges that its health-concentrated beverage has earned a momentous attention with a collaboration with Air India Express and Akasa Air, building it the first kombucha and glittering iced tea catered on an Indian airline.
Sector: Chemical Manufacturing
Funding Round: Series A
Startup: Scimplify
Established Year: 2017
Funding News: Specialty chemicals Startup 'Scimplify' gains $7 million in Series A
In its Series A round, Scimplify, a platform for sourcing & manufacturing specialty chemicals, raised approximately $7 million from new and existing investors.
Investors: Omnivore, Bertelsmann, 3One4 Capital, and Beenext Asia
The startup has raised around $11 million to date including its $3.67 million seed round from 3one4 Capital and Beenext last year.
The startup data intelligence platform TheKredible claims that Scimplify's post-allotment value is approximately Rs 320 crore, or $39 million. Scimplify is a B2B fulfillment platform that operates throughout the product life cycle, from contract research to commercial chemical manufacturing in pharmaceutical, personal care, and agrochemical industries.
It was founded in 2023 by Salil Srivastava and Sachin Santhosh. Emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers are among the products that the company offers, as stated on its website.
The Bengaluru-based firm competes with Atomgrid, which brought $1.2 million up in its seed round driven by Merak Adventures in May this year. Another major player in the market, Covvalent, raised $4.3 million under the direction of Nexus Venture Partners.
Sector: Transportation
Funding Round: Series E
Startup: Rapido
Established Year: 2015
Funding News: Rapido becomes 'Unicorn' by achieving $120 million in Series E Funding round!
Swiggy-supported mobility Startup Rapido has turned unicorn with a $120 million Series E Funding round directed by its biggest financial backer WestBridge Capital which has siphoned in money through three diverse investment vehicles.
Investors: WestBridge Capital.
WestBridge has invested the sum by means of Setu AIF Trust, Konark Trust, and MMPL Trust, as per the filings.
As indicated, the organization raised the financing at a post-cash valuation of 8, 517 crore or somewhat more than $1 billion.
8, 517 crore or somewhat more than $1 billion.
Rapido had brought $180 million up in Series D Funding round in April 2022. As per startup information insight platform TheKredible, the start-up was last esteemed at around $850 million. At this point, it has raised a sum of more than $300 million across a few financing adjusts. Westbridge is the biggest partner in Rapido with 26% stake.
It’s important to note that Swiggy, which owns more than 15% of the business, did not participate in the new round because it had already submitted a DRHP for a possible IPO. Perfios, Krutrim SI Designs, and lending company Moneyview are all set to raise a new round at unicorn valuations, respectively.
