Funding Highlights for Hyderabad Startups: Over $300 Million Raised in the First Half of 2018 (Q1 and Q2)
As the first half of 2018 wraps up, Hyderabad’s startup ecosystem continues to shine brightly. Despite fierce competition from Bengaluru and Delhi, Hyderabad has seen a notable surge in funding for its startups.
From January to June 2018, 30 startups in Hyderabad collectively raised over $300 million, including conventional debt. Here’s a breakdown of the significant funding rounds during the first half of the year:
January 2018:
- Ambee, a public safety tech platform, secured $75,186 in seed funding from Spiral Ventures.
- Paymatrix raised $4,000 from IIIT Hyderabad’s Seed Fund.
- 6degree, a tech-enabled fashion startup, received $400,000 from Indian Angel Network and TAN Advisors.
- AnyTimeLoan, a P2P lending platform, raised $3.9 million in Series A from Spice Digital.
- eKincare, a healthcare startup, secured $1.5 million from Ventureast, Endiya Partners, Eight Roads Ventures, Touchstone Equities, and former NASSCOM Chairman B.V.R. Mohan Reddy.
- Spandana Sphoorty Financial Limited received $63 million from Bank of Baroda and IndusInd Bank.
- MedPlus raised $117 million as conventional debt from Goldman Sachs.
Total Funding for January: $7.8 million in equity and $180.5 million in conventional debt.
February 2018:
- Khethinext, a digital agriculture transformation platform, raised $5 million in Series A from a Dubai-based investor.
- Joveo, an AI recruitment tech platform, also secured $5 million in a round led by Nexus Venture Partners.
- CallHealth, a preventive healthcare startup, raised $7.8 million from Bennett, Coleman and Co. Ltd.
- HighRadius, an AI-based fintech company, received an undisclosed amount from Citi Ventures and PNC.
- V ClinBio Inc. acquired a 49.98% equity stake in Cellix Bio for an undisclosed amount.
Total Funding for February: $17.8 million in equity funding.
March 2018:
- Predible Health, an AI cancer radiology platform, raised an undisclosed amount from Unitus Seed Fund and $35,300 from IKP Knowledge Park.
- Stumagz secured an undisclosed seed amount from Venkat Subramanian, Sudhakar Pennam, and other Silicon Valley investors.
- Popicorn, a ready-to-eat popcorn company, closed a $151,539 funding deal with Avia Wealth.
- NowFloats received $2.2 million in a bridge round from Omidyar Network, Iron Pillar Capital, and IIFL, and a $766,108 loan from Blacksoil Capital.
- BASIX Sub-K iTransactions Ltd raised $5.4 million from Accion and Nordic Microfinance Initiative.
Total Funding for March: $7.8 million in equity and $0.8 million in conventional debt.
April 2018:
- Antariksh Waste Ventures Pvt Ltd raised $7,500 from IIT Madras startup grant.
- OhLook secured $95,000 from HNIs.
- IndigoLearn, an ed-tech startup, raised $150,000 from angel investors including Maheshwar Peri.
- NicheAI received an undisclosed amount from IIITH Seed Fund, Times Internet, IIITH Foundation, and HNIs.
- Zenith Energy Services raised $27 million through private equity.
- Hyperdata secured $75,000 from Singapore-based Cube Angels Network.
- WhistleDrive received Series A funding of $747,195 from Colosseum Group.
Total Funding for April: $1.1 million in equity and $27 million in private equity funds.
May 2018:
- Madguy Labs raised $111,250 from Villgro Innovations Foundation.
- Freight Bazaar obtained an undisclosed amount in Pre-Series A funding from Omphalos Ventures India and ah! Ventures.
- CredRight secured $1.3 million in Pre-Series A funding from Accion Venture Lab, YourNest, and other angels.
Total Funding for May: $1.5 million in equity funding.
June 2018:
- Fourth Partner Energy announced $70 million in Series B funding from The Rise Fund, managed by TPG Growth.
- Theranostics Life Sciences raised an undisclosed seed amount from Mumbai Angels.
Total Funding for June: $70 million in equity funding.
Hyderabad’s startup scene remains dynamic, and with continued growth, the second half of 2018 promises to be equally exciting for startups and investors.