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1. TRACXN MONTHLY REPORT
SEPTEMBER 2023
FINTECH INDIA

2. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Contents
2
Fintech India Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 14
Top Funded Business Models - last 1 year 16
New Analyst Picks 17
IPOs 25
Acquisitions 26
Recent News 28

3. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Fintech India Snapshot – September 2023
Fintech India: Snapshot – September 2023
Note : "Investors" refers to "Institutional Investors" only
3
$837M
25 3
Overall Geo Stats
20
16
139
85
73
Funding Rounds $ Invested Analyst Picks
Doceree Upgraded
to SOONICORN
New Investors
Justin Hamilton
Sanchi Connect
Series A+ rounds Active Investors IPOs
Rishabh
Zaggle
Acquisitions
Barrix Agro Sciences
TenderCuts
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Mumbai
(20 Rounds, $107M)
Bengaluru
(19 Rounds, $567M)
Delhi NCR
(16 Rounds, $121M)
Delhi
(6 Rounds, $44.8M)
$229M - Series D
Perfios (2007, Bengaluru, $384M)
$140M - Series D
Ola Electric (2017, Bengaluru, $1.2B)
$109M - Series F
Ather Energy (2013, Bengaluru, $444M)
$60.4M - Series A
LeadsConnect (2009, Noida, $61.0M)
Flipkart
(4 Investments)
Blume
(3 Investments)
IPV
(3 Investments)
EvolveX
(3 Investments)
Electric Vehicles
Ola Electric
Investment Tech
Perfios
Banking Tech
Alternative Lending
Market Size
Companies Covered 117,781
Funded Companies 12,689
Total Funding $160B
Funding in last 12 months $9.4B
Top Exits
IPOs 213
Acquisitions 1,523
Company Stage
Unicorns 90
Soonicorns 337
Minicorns 1,090
Editor Picks 7,222
Series A+ 2,170
Series C+ 489
Acqui-Hires 120
Deadpooled 33,753
Top Cities
Bengaluru (7,406 Rounds, $72.8B)
Delhi NCR (5,405 Rounds, $38.7B)
Top Investors
LetsVenture (405 Investments)
AngelList (350 Investments)

4. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Fintech India as of September 2023
Fintech India: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (September 2023)*
Perfios
(2007, Bengaluru, $384M)
$229M - Series D Kedaara
Ola Electric
(2017, Bengaluru, $1.2B)
$140M - Series D Temasek
Ather Energy
(2013, Bengaluru, $445M)
$109M - Series F Hero MotoCorp
LeadsConnect
(2009, Noida, $61.0M)
$60.4M - Series A BL Agro Oils
Doceree
(2018, Parsippany, $47.0M)
$35.0M - Series B Creaegis
Kale Logistics Solutions
(2010, Thane, $42.9M)
$30.0M - Series B Inflexor
Kuku FM
(2018, Mumbai, $72.3M)
$25.0M - Series C Fundamentum
Pepperfry
(2012, Mumbai, $262M)
$23.0M - Series F
EloElo
(2020, Bengaluru, $38.0M)
$22.0M - Series A Courtside Ventures
Captain Fresh
(2019, Bengaluru, $138M)
$20.0M - Series C SBI Investment
Brine
(2021, Mumbai, $16.5M)
$16.5M - Series A Pantera Capital
*Shows only the lead Investors

5. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$20.0M - Series C
Captain Fresh (2019, Bengaluru, $137.9M)
Online B2B platform offering seafood products
SBI Investment, Evolvence India, Prosus, Accel, Matrix
Partners India, and 1 more
$23.0M - Series F
Pepperfry (2012, Mumbai, $262.1M)
Online marketplace platform offering multi-category
home products
$25.0M - Series C
Kuku FM (2018, Mumbai, $72.3M)
Mobile-based platform offering to stream radio,
podcasts, and audiobooks
Fundamentum, IFC, Vertex Ventures
LATE STAGE
$108.8M - Series F
Ather Energy (2013, Bengaluru, $444.5M)
Developer of electric scooters
Hero MotoCorp, GIC
$140.0M - Series D
Ola Electric (2017, Bengaluru, $1.2B)
Developer of two-wheeler electric scooters
Temasek
$229.0M - Series D
Perfios (2007, Bengaluru, $384.2M)
Real-time credit-decisioning platform and data
aggregation APIs
Kedaara, Bessemer Venture Partners, Warburg Pincus
LATE STAGE
Series C
Leverage Edu (2017, Noida, $70.0M)
AI-enabled marketplace providing assistance to
students

6. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
EARLY STAGE
$600.3K - Series B
Everest Fleet (2016, Mumbai, $28.9M)
Car Fleet management and service provider
Paragon Partners
$3.0M - Series B
PeeSafe (2013, Gurgaon, $13.6M)
Internet first brand of personal hygiene products for
women
Natco Pharma, Rainmatter Technology, Alkemi
Partners, Nithin Kamath
$3.0M - Series A
Data Sutram (2018, Mumbai, $5.4M)
Provider of an AI and SaaS-enabled location data
platform
Bharat Fund, Singularity Ventures AMC, IIFL Finance,
Yatra Angel Network, White Venture Capital
EARLY STAGE
$3.5M - Series A
The Good Bug (2022, Mumbai, $3.5M)
Provider of water-soluble probiotics for various health
ailments
Fireside Ventures
$4.0M - Series A
Flipspaces (2011, Mumbai, $12.5M)
Provider of AR-based interior designing services for
offices
Prashasta Seth
$4.0M - Series A
Legistify (2015, Noida, $7.3M)
Platform offering legal enterprise management
solution
IndiaMART, Titan Capital, Justin Hamilton, Cathexis
Ventures, GSF, and 1 more
EARLY STAGE
$5.4M - Series A
SigNoz (2019, Bengaluru, $6.5M)
Provider of open source technology based application
monitoring solution
SignalFire, Uncorrelated Ventures, Alumni Ventures
$7.2M - Series A
Exto (2007, Bengaluru, $7.2M)
Cloud-based project management software provider
$10.0M - Series B
Ergos (2012, Bengaluru, $32.1M)
Provider of web-based tech-enabled warehousing and
supply chain solutions for farmers
Abler Nordic, Aavishkaar Capital, Trifecta Capital,
Chiratae Ventures

7. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (3/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
7
EARLY STAGE
$13.0M - Series B
Pilgrim (2019, Mumbai, $19.7M)
Internet first brand offering multi-category beauty care
products
Vertex Ventures, Narotam Sekhsaria Family Office,
Fireside Ventures
$16.5M - Series A
Brine (2021, Mumbai, $16.5M)
Decentralized order-book exchange for traders
Pantera Capital, Spartan Group, Upsparks Capital,
Protofund, Elevation, and 2 more
$22.0M - Series A
EloElo (2020, Bengaluru, $38.0M)
Video chatroom and live streaming platform for games
Courtside Ventures, Griffin Gaming Partners, Lumikai,
Rocket Capital, Kalaari Capital, and 3 more
EARLY STAGE
$30.0M - Series B
Kale Logistics Solutions (2010, Thane, $42.9M)
Offers a web-based marketplace for the management
of logistics and airport businesses
Creaegis, Inflexor
$35.0M - Series B
Doceree (2018, Parsippany, $47.0M)
Provider of pharmaceutical advertising and healthcare
marketing platform
Creaegis, Eight Roads Ventures, F-Prime Capital
$60.4M - Series A
LeadsConnect (2009, Noida, $61.0M)
Provides app-based end-to-end farm risk management
solution to the farmers
BL Agro Oils
EARLY STAGE
Series A
smartstaff (2020, Bengaluru, $10.5M)
Workforce management platform for enterprises
PERSOL
Series B
Videonetics (2008, Kolkata, $5.9M)
Platform offering video analytics solution
Florintree
Series A
Celebal Technologies (2015, Jaipur, $32.0M)
Provider of AI, IoT, SAP, data analytics, and other
services
Databricks

8. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (4/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
8
SEED STAGE
$250.0K - Seed
MentorKart (2018, Delhi, $702.0K)
Online platform offering courses for professionals
Real Time Accelerator Fund, TiE Global Angels
$250.0K - Seed
DecorTwist (2022, Noida, $250.0K)
Internet first brand offering home decor products
Adhvith Dhuddu
$300.0K - Seed
ThinkMetal (2021, Chennai, $454.1K)
Manufacturer of desktop 3D printers
100X.VC, Sat Industries, KRS Jamwal, Uday Sodhi
SEED STAGE
$300.0K - Angel
Dreamfly Innovations (2021, Bengaluru, $300.0K)
Developer of drone batteries
Rebalance, CIIE
$400.0K - Seed
Peping (2021, Bengaluru, $400.0K)
Online platform offering consultation services for
gastrointestinal conditions
Better Capital, Kunal Shah, Sandeep Dinodiya, Ganesh
Balakrishnan, Shubham Mishra
$421.1K - Seed
insideFPV (2020, Surat, $879.9K)
Online retailer for drones and accessories
Mumbai Angels, IPV, Soonicorn Ventures
SEED STAGE
$480.3K - Seed
Aurassure (2022, Bhubaneswar, $480.3K)
Street Level Pollution Monitoring device
Unicorn India Ventures
$500.0K - Seed
The Kredible (2021, Haryana, $500.0K)
Online private market data of multiple industries and
start ups
Entrackr, Titan Capital, Sailthru Ventures, Aman Gupta,
Harshil Mathur, and 10 more
$500.0K - Seed
Exchange 4 Talent (2023, Mumbai, $500.0K)
Platform connecting talent and businesses for various
opportunities and collaborations

9. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (5/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
9
SEED STAGE
$500.0K - Seed
Algomage (2021, Mumbai, $1.4M)
AI-based post-production management solutions for
photographers
Flipkart
$500.0K - Seed
Zeron (2020, Mumbai, $653.7K)
Security posture management and decision making
solutions
VCAPL, Yatra Angel Network
$500.0K - Seed
AltUni (2013, Mumbai, $1.0M)
Online platform offering courses for professionals
, Vishesh C Chandiok
SEED STAGE
$600.0K - Seed
DevDynamics (2022, Bengaluru, $600.0K)
Platform offering software development analytics
Powerhouse Ventures, Sunn91, PointOne Capital
$600.0K - Seed
PierSight (2023, Ahmedabad, $600.0K)
Provider of satellite-based security and surveillance
analytics platform
All In Capital, Andreas Klinger, Vismay Agrawal
$635.0K - Angel
Melooha (2022, Nagpur, $635.0K)
AI-powered personalized astrology and horoscope
mobile application on iOS and Android
SEED STAGE
$800.0K - Seed
Sploot (2019, Delhi, $1.3M)
Online social platform for pet owners
RedStart Labs
$800.0K - Seed
Klaar (2021, Bengaluru, $957.1K)
Online platform for employee performance
management
Veda VC, DeVC, Kube VC, Prabir Kumar Jha, Saurabh
Nigam, and 3 more
$1.0M - Seed
Flexifyme (2021, Pune, $1.3M)
Online platform providing live yoga, meditation, and
nutrition coaching
Flipkart, Chandigarh Angels Network, Venture Catalyst,
One Capital, iHub Anubhuti, and 1 more

10. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (6/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
10
SEED STAGE
$1.1M - Seed
KOGO (2018, Delhi, $2.8M)
App & AI-driven platform to create automated travel
videos & stories
MapmyIndia
$1.2M - Seed
My Mandi (2021, Gwalior, $1.7M)
Provider of software suite solutions to hyperlocal
businesses
Real Time Accelerator Fund
$1.3M - Seed
Lissun (2021, Gurgaon, $2.8M)
Mobile app for mental health management
IPV, Rainmatter Technology, IvyCap Ventures, GrowX
Ventures, We Founder Circle
SEED STAGE
$1.5M - Seed
oorja (2022, Bengaluru, $1.5M)
Provider of battery design software
Micelio, Lead Angels, Anicut Capital, Capital A, Java
Capital
$1.9M - Seed
WOGOM (2020, Ahmedabad, $1.9M)
Online B2B marketplace offering consumer electronics
$2.0M - Seed
Fairdeal Market (2022, Gurugram, $2.1M)
Provider of omnichannel operation management
software solutions for brands
WaterBridge, GrowX Ventures, Gemba Capital,
Priyaranjan Kumar, Manish Bajoria
SEED STAGE
$2.2M - Seed
HotelYaari (2022, Noida, $2.2M)
Marketplace for hotel rooms and holiday homes
Alois
$2.2M - Seed
EquityList (2023, Delhi, $2.2M)
Full-stack equity management software
AngelList, Unpopular Ventures, Republic, Hustle Fund,
Mana Ventures, and 9 more
$2.6M - Seed
Clinikally (2021, Gurgaon, $3.1M)
Online platform offering dermatology consultation and
delivery of medicines
Tribe Capital, Goodwater Capital, Sequoia Capital,
Rebel Fund, Y Combinator

11. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (7/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
11
SEED STAGE
$2.7M - Seed
AccioJob (2018, Gurgaon, $3.0M)
Online portal for graduate jobs
Mynavi
$3.0M - Seed
Manastu Space (2017, Mumbai, $3.2M)
Manufacturer of green propulsion systems for
satellites
Capital 2B, BIG Capital, E2MC, Spectrum Impact,
Atomberg, and 3 more
$3.0M - Seed
Raptee (2018, Chennai, $3.7M)
Manufacturer of electric motorcycles
Bluehill Capital, Eugene Mayne, Lakshmi Narayanan,
Chandu Nair
SEED STAGE
$3.0M - Seed
Qube Health (2017, Mumbai, $4.9M)
Online platform for employee health benefits
IPV, Green Ivy Ventures, Keiretsu Forum
$3.5M - Seed
altM (2022, Bengaluru, $3.5M)
Manufacturer of biomaterials
Omnivore, Theia Ventures, Thai Wah Ventures, Paula
Mariwala, Sanjiv Rangrass, and 2 more
$5.5M - Seed
Castler (2020, Delhi, $13.6M)
Escrow-based banking solutions for consumers and
businesses
Capital 2B, IIFL Finance, Flipkart
SEED STAGE
$6.7M - Seed
Flash (2022, Bengaluru, $12.5M)
Online purchase tracking platform
Blume, PeerCapital, White Venture Capital, Emphasis
Ventures
$10.0M - Seed
DIAL4242 (2016, Mumbai, $10.4M)
Ambulance booking platform
Starfish Ventures, G Vamshi Raju
$11.0M - Seed
Atomicwork (2022, San Francisco, $11.0M)
AI solution for automating IT workflows and HR
support and employee success
Blume, Matrix Partners India, Storm Ventures, Neon

12. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (8/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
12
SEED STAGE
Seed
PrintBrix (2018, Noida, $12.9K)
E-distributor offering promotional products and
services
EvolveX, Neeraj Tyagi, Navneet Gupta, Amit Prakash,
Amit Tyagi, and 4 more
Seed
Taurean Surgical (2021, Hyderabad)
Provider of high precision surgical robotic platform and
solutions
Beyondteq
Seed
Aaritya Technologies (2023, Bengaluru)
Online platform for trading stocks
Accel, Elevation
SEED STAGE
Seed
TrackWizz (2014, Mumbai)
KYC, AML, & fraud prevention solutions for financial
institutions
WestBridge Capital
Seed
Noccarc (2017, Pune, $2.6M)
Developer of ventilators for respiratory care
SIDBI
Seed
Salt Oral Care (2022, Mumbai)
Internet first brand of oral care products
Viraj Doshi
SEED STAGE
Seed
Navars (2015, Hyderabad, $481.1K)
Provider of courses and learning resources on
astronomy for students
JITO Incubation & Innovation Foundation
Seed
Deltafour (2022, Bengaluru)
Locks for industrial equipment safety
EvolveX, We Founder Circle, Neeraj Tyagi, Bhawna
Bhatnagar, Vikas Aggarwal, and 2 more
Seed
Mitsu (2022, Mumbai)
Provider of digital therapeutics solutions for mental
health
Gaurav Burman

13. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (9/9)
List of Funding Rounds in Fintech India in September 2023
Fintech India: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
13
SEED STAGE
Seed
ReCircle (2015, Mumbai, $109.7K)
Provides tech-enabled waste management services
3i Partners, Acumen, Flipkart
Seed
Nikol EV (2021, Pune)
Developer of EV charging station network
EvolveX, Vikas Aggarwal, Neeraj Tyagi, Bhawna
Bhatnagar
Seed
Drip Project (2021, Mumbai)
Internet first brand offering jewelry for men and
women
Blume, Priti Sawant

14. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Fintech India in September 2023
Fintech India: List of New Investors
14
Investor Company Info Round Amount Round Name
Justin Hamilton
1 portfolio companies | Justin Hamilton
Legistify
Platform offering legal enterprise management solution
$4.00M Series A
Sanchi Connect
1 portfolio companies | Sanchi Connect - DB Dev
Manastu Space
Manufacturer of green propulsion systems for satellites
$3.00M Seed
Promus Ventures
89 portfolio companies | Venture capital firm focused on early-stage tech
companies
SatSure
Satellite remote sensing and artificial intelligence solutions
$15.00M Series A
Storm Ventures
222 portfolio companies | US focused VC investment company
Atomicwork
AI solution for automating IT workflows and HR support and employee
success
$11.00M Seed
Sunn91
4 portfolio companies | Venture capital firm focused on pre-seed and seed stage
investments
DevDynamics
Platform offering software development analytics
$600K Seed
iangroup.vc
1 portfolio companies | Indian Angel Network
AltUni
Online platform offering courses for professionals
$500K Seed
Beams Fintech Fund
3 portfolio companies | Venture capital-backed accelerator focused on the
fintech startups
Credgenics
AI and cloud based debt collection platform
$50.00M Series B
Thai Wah Ventures
3 portfolio companies | Venture capital firm focused on agriculture and food
sectors
altM
Manufacturer of biomaterials
$3.50M Seed
Real Time Accelerator Fund
8 portfolio companies | Sector agnostic startup accelerator
MyWays
Career guidance platform for IT professionals
$96.75K Seed
Sailthru Ventures
1 portfolio companies | Sector agnostic accelerator focused on startups
The Kredible
Online private market data of multiple industries and start ups
$500K Seed

15. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Fintech India in September 2023
Fintech India: List of New Investors
15
Investor Company Info Round Amount Round Name
Mixi
6 portfolio companies | Developer of mobile games and social platforms
EloElo
Video chatroom and live streaming platform for games
$22.00M Series A
BL Agro Oils
1 portfolio companies | Manufacturer and producer of edible oils
LeadsConnect
Provides app-based end-to-end farm risk management solution to the
farmers
$60.37M Series A
OfBusiness
4 portfolio companies | Tech-enabled platform that facilitates raw material
procurement
Bidso
Tech-enabled sourcing platform for brands
$300K Seed
ENRISSION
1 portfolio companies | Services for university students
Legistify
Platform offering legal enterprise management solution
$4.00M Series A
iHub Anubhuti
2 portfolio companies | Non-profit organization focused on providing computing
and social sensing solutions for multiple industries
Flexifyme
Online platform providing live yoga, meditation, and nutrition coaching
$1.00M Seed
Neon
2 portfolio companies | Venture capital firm focused on B2B SaaS startups
Facets.cloud
Provider of DevOps tools for managing application deliveries
$4.00M Seed
AngelList
4 portfolio companies | Provider of a fundraising platform for startups
EquityList
Full-stack equity management software
$2.20M Seed
Phoenix Angels
2 portfolio companies | Nonprofit organization connects startups with investor
chargeMOD
Provider of electric-vehicle charging and management solutions
$302K Seed
Caret Capital
1 portfolio companies | Diversified investment management firm
Unstop
Online on-demand staffing platform for students
$5.00M Series A
Super Capital
12 portfolio companies | Venture capital firm focused on pre-seed to series A
investments
EquityList
Full-stack equity management software
$2.20M Seed

16. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
16
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲6 Electric Scooter Manufacturers $668M 13 Ola Electric | $300M | Series D
2 ▲34 Online Eyewear Retailers $651M 3 Lenskart | $500M | Series J
3 ▲63 Loan Management Solutions $367M 7 Perfios | $229M | Series D
4 ▲52 Internet First Personal Loans Marketplace $275M 3 KreditBee | $120M | Series D
5 ▼-3 Ultrafast Grocery Delivery $275M 2 Zepto | $200M | Series E
6 ▼-2 Online Test Preparation Courses $250M 2 BYJU'S | $250M | Series F
7 ▲68 Financial Institution KYC Software $241M 3 Perfios | $229M | Series D
8 ▲196 Online Supplement Stores $216M 9 HealthKart | $135M | Series H
9 ▲48 College Education Loans $167M 3 Avanse | $96.8M | Series C
10 ▲11 Online Business Loans Marketplace $149M 5 Mintifi | $110M | Series D

17. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/8)
Interesting Companies identified by Analysts in Fintech India in September 2023
Fintech India: Analyst Picks
17
Upgraded to SOONICORN
Doceree (2018, Parsippany, $35.0M, Series B)
Provider of pharmaceutical advertising and healthcare
marketing platform
Creaegis, Eight Roads Ventures, F-Prime Capital and 4
other Investors
Upgraded to MINICORN
Atomicwork (2022, San Francisco, $11.0M, Seed)
AI solution for automating IT workflows and HR
support and employee success
Blume, Matrix Partners India, Storm Ventures and 1
other Investors
Upgraded to MINICORN
Sploot (2019, Delhi, $800K, Seed)
Online social platform for pet owners
RedStart Labs,Akshay Chaturvedi,Yatish Talvadiaand
Upgraded to MINICORN
altM (2022, Bengaluru, $3.5M, Seed)
Manufacturer of biomaterials
Omnivore, Theia Ventures, Thai Wah Ventures and 4
other Investors
Added to Editor's Pick
axio (2013, Bengaluru, $9.9M, Conventional Debt)
App-based platform for money management, pay later,
and personal credit solutions
Ribbit Capital, Creation Investments, David Velez and
33 other Investors
Added to Editor's Pick
Multipl (2020, Bengaluru, $3.0M, Seed)
Goal-based savings platform for individuals
Blume, GrowX Ventures, Kotak Securities and 44 other
Investors
Added to Editor's Pick
MarketsMojo (2015, Mumbai, $445K, Angel)
Algorithm-based research platform for publicly traded
stocks
Deepali Chheda, Bhavesh Chheda, Dharmesh Chheda
and 1 other Investors
Added to Editor's Pick
Augmont (2012, Mumbai, Unfunded)
Online platform to invest in precious metals and gold-
backed loans
Sachin Gheesoolal Kothariand

18. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/8)
Interesting Companies identified by Analysts in Fintech India in September 2023
Fintech India: Analyst Picks
18
Added to Editor's Pick
BharatNXT (2022, Mumbai, $1.2M, Seed)
Provider of B2B compliant payment solutions
Spiral Ventures, IPV, Keiretsu Forum and 11 other
Investors
Added to Editor's Pick
CredRight (2016, Bengaluru, Undisclosed,
Conventional Debt)
Online marketplace for consumer and business loans
Michael & Susan Dell Foundation, YourNest, 9Unicorns
and 51 other Investors
Added to Editor's Pick
LawSikho (2018, Gurugram, Unfunded)
Online legal tutorials
Added to Editor's Pick
Shipyaari (2013, Mumbai, Unfunded)
Provider of end-to-end E-commerce logistics solutions
Added to Editor's Pick
Re’equil (2016, Gurgaon, Undisclosed, Seed)
Internet-first brand offering multi-category beauty
products
Brand Capitaland
Added to Editor's Pick
Pulse Energy (2020, Mumbai, Unfunded)
App-based platform offering electric-vehicle charge
point locater services
Added to Editor's Pick
MrMed (2020, Chennai, $500K, Seed)
Online pharmacy that delivers life saving medications
TNIFMC,Beej Network,Startup Tunneland
Added to Editor's Pick
Accio Robotics (2019, Bengaluru, $13.2K, Angel)
Provides autonomous mobile robots for handling
material in warehouses and shop floors
Uday Sodhi, Anuj Bihani, Jignesh Kenia and 28 other
Investors
Added to Editor's Pick
Digii (2013, Bengaluru, $2.5M, Series A)
Software for digitization of administrative activities and
campus experience for higher-ed institutions
Prime Venture Partners, Manipal Global, Sprout
Venture Partners and 16 other Investors
Added to Editor's Pick
ImaginXP (2015, Pune, $8.5K, Seed)
App-based platform offering user-interface design
training
Sat Industries, Balaji Sadanandam Rao, Dhanashree
Girish Shinde Patil and 72 other Investors
Added to Editor's Pick
Reach Accountant (2009, Chennai, $98.9K, Angel)
Accounting Software for SMBs
Sequoia Capital, Rajan Anandan, Robin Moses and 10
other Investors
Added to Editor's Pick
Accacia (2022, Gurgaon, $2.5M, Seed)
AI-enabled platform that helps real estate companies
track and reduce carbon emissions from their assets
B Capital Group, Blume, Good Capital and 9 other
Investors

19. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (3/8)
Interesting Companies identified by Analysts in Fintech India in September 2023
Fintech India: Analyst Picks
19
Added to Editor's Pick
Stupa (2019, Gurugram, $199K, Seed)
Sports data analysis solutions provider
Manipal Media Network, Dipak Gupta, Paresh D
Sukthankar and 15 other Investors
Added to Editor's Pick
HyperXchange (2016, Kolkata, $496K, Seed)
Online platform offering second-hand multi-category
electronic products
Microsoft,IIMCIPand
Added to Editor's Pick
Aaritya Technologies (2023, Bengaluru,
Undisclosed, Seed)
Online platform for trading stocks
Accel,Elevationand
Added to Editor's Pick
mFilterIt (2015, Gurgaon, Undisclosed, Seed)
AI based fraud detection and prevention platform for
businesses
6D Technologiesand
Added to Editor's Pick
Henry Harvin (2015, Noida, Unfunded)
Online training software for enterprises
Added to Editor's Pick
Invention Labs (2007, Chennai, $1.0M, Series A)
Developers of mobile applications for users with
speech disorders
IIT Madras Research Park, Inventus Capital Partners,
Mumbai Angels and 1 other Investors
Added to Editor's Pick
Immersive Labz (2021, Pune, $1.0M, Series A)
Provider of a 3D science laboratory
Hyderabad Angels, Marwari Catalysts, Hem Angels and
77 other Investors
Added to Editor's Pick
Stockstoearn (2021, Lucknow, Undisclosed, Seed)
Platform empowering people with professional
education and resources for stock market and finance
Added to Editor's Pick
Clientjoy (2014, Ahmedabad, $93.2K, Angel)
Cloud based platform offering CRM software for
businesses
Gujarat Venture Finance, Gaurav Zutshi, Jyotsna
Laxman Bapat and 9 other Investors
Added to Editor's Pick
HappyMongo (2016, Bengaluru, $18.2K, Angel)
Online platform that enables learning via gamification
Wishtel, Prem Mehta, Deepak Shah and 4 other
Investors
Added to Editor's Pick
Aurassure (2022, Bhubaneswar, $480K, Seed)
Street Level Pollution Monitoring device
Unicorn India Venturesand
Added to Editor's Pick
13SQFT (2019, Gurgaon, $1.0M, Seed)
Cloud-based B2B platform for warehousing services
IPVand

20. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (4/8)
Interesting Companies identified by Analysts in Fintech India in September 2023
Fintech India: Analyst Picks
20
Added to Editor's Pick
HyreFox (2018, Jaipur, $64.1K, Angel)
Web-based recruiter marketplace for employers
Nekhel Baidand
Added to Editor's Pick
Etmedialabs (2013, Delhi, Unfunded)
Provider of online ad technology and digital media
analytics
Added to Editor's Pick
PepupSales (2010, Gurgaon, Unfunded)
Mobile sales force automation solution
Added to Editor's Pick
Retigence (2010, Bengaluru, $1.1M, Seed)
Cloud based platform offering demand forecasts
analytics solutions for businesses
Omnivore,A Venkatrama Reddy,Sreekanth Kakuruand
Added to Editor's Pick
Kite (2017, New Delhi, Unfunded)
Employee expense management solution
Penna & Company,West Quad Venturesand
Added to Editor's Pick
VideoCX (2015, Pune, Undisclosed, Grant (prize
money))
Video based customer support platform for banking
industry
Maharashtra State Innovation Society, SRI Capital,
Startup Reseau and 5 other Investors
Added to Editor's Pick
The Kredible (2021, Haryana, $500K, Seed)
Online private market data of multiple industries and
start ups
Aman Gupta, Harshil Mathur, Shashank Kumar and 12
other Investors
Added to Editor's Pick
Boson Systems (2012, Mumbai, $180K, Angel)
White-labeled digital payment platform
Girish Kulkarni, Suyash Outsourcing, Aeries India and 9
other Investors
Added to Editor's Pick
Mynzo Carbon (2022, Gurugram, $1.5M, Seed)
Provider of a platform offering carbon emission
management solutions
Added to Editor's Pick
FinIQ Consulting (2001, Pune, Unfunded)
Treasury and wealth management solutions
Shodhan Shashikant Shahand
Added to Editor's Pick
POSibolt Solutions (2009, Bengaluru, Undisclosed,
Angel)
Cloud based ERP and POS solutions for offline
businesses
Peer Thanesh,Kalyan Kumar Banerjee,Ahsan Aliand
Added to Editor's Pick
Tira (2021, Mumbai, Unfunded)
Online store offering multi-category beauty products

21. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (5/8)
Interesting Companies identified by Analysts in Fintech India in September 2023
Fintech India: Analyst Picks
21
Added to Editor's Pick
ChatMan (2022, Delhi, Unfunded)
AI based conversations solution for sales and customer
support
First Cheque,Eximius Venturesand
Added to Editor's Pick
Unsweetened Beauty (2021, Hyderabad, $99.7K,
Angel)
Online platform offering community-based skincare
product recommendation
Somanna Raghunatha Reddy,Rebalanceand
Added to Editor's Pick
Decentrium (2022, , $1.5M, Seed)
A peer-to-peer network that will store and share the
database on multiple nodes
Huobi Ventures, Tech Ventures, Base Ventures and 2
other Investors
Added to Editor's Pick
Incremint (2016, Delhi, $45.2K, Angel)
Product aggregation, insurance planning, and branding
solutions for the insurance industry
Ankur Arora, Nandita Rao, Village Capital and 1 other
Investors
Added to Editor's Pick
OneBoard (2021, Panjim, $12.0K, Seed)
App-based platform for booking outdoor tourist
activities
AIC-GIM Foundation,build3and
Added to Editor's Pick
QPe (2022, Delhi, Unfunded)
Provider of SaaS-based storefront solutions for e-
commerce businesses
Added to Editor's Pick
Salt Oral Care (2022, Mumbai, Undisclosed, Seed)
Internet first brand of oral care products
Viraj Doshiand
Added to Editor's Pick
Lemonade (2022, Gurgaon, $124K, Seed)
Internet first brand offering multi-category eco-friendly
products
Angel List,Accelerating Asia,Eaglewings Venturesand
Added to Editor's Pick
HotelYaari (2022, Noida, $2.2M, Seed)
Marketplace for hotel rooms and holiday homes
Aloisand
Added to Editor's Pick
Omnee (2023, Bengaluru, Unfunded)
Provider of omnichannel solutions for retail brands
First Chequeand
Added to Editor's Pick
BharatGo (2023, Pune, $8.5K, Grant (prize money))
SaaS-based platform to create online stores for
businesses
IIIT Kottayam,MIT WPU TBI,IIIT Bangaloreand
Added to Editor's Pick
Seedlings India (2014, Delhi, Unfunded)
Online retailer offering ornamental plants and
accessories

22. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (6/8)
Interesting Companies identified by Analysts in Fintech India in September 2023
Fintech India: Analyst Picks
22
Added to Editor's Pick
Seek Rewards (2021, Bengaluru, Unfunded)
Online platform offering personalized rewards and
discovery for multi-category products
FairAngelsand
Added to Editor's Pick
Agreefy (2016, Austin, Unfunded)
Wifi-based RTLS marketing solutions for retail
businesses
Added to Editor's Pick
Humanify (2022, Mumbai, Undisclosed, Seed)
Remote research platform for consumer insights
Godrejand
Added to Editor's Pick
Rhym (2021, Bengaluru, Unfunded)
Cloud based gamified marketing solutions for
businesses
Upsparks Capitaland
Added to Editor's Pick
Seminarroom (2021, Bengaluru, Unfunded)
Online platform for curating sessions and guest
lectures from industries
Turbostartand
Added to Editor's Pick
Bunny Corset (2020, Gurgaon, Unfunded)
Online platform for shopping corsets and shapewear
Added to Editor's Pick
Meanbuy (2017, Hyderabad, Unfunded)
Online cross-border marketplace platform offering
multi-category products
Added to Editor's Pick
Goldmine (1994, Ahmedabad, Unfunded)
Technical analysis and charting tool for stock market
investors
Added to Editor's Pick
Zipdial (2022, Indore, Unfunded)
Platform offering interactive voice response systems
for call centers
Playbookand
Added to Editor's Pick
Storeily (2022, Bengaluru, Unfunded)
Social commerce platform providing multi-category
products
Added to Editor's Pick
TagID Solutions (2017, Thane, Unfunded)
Provider of operation management solutions for retail
businesses
Added to Editor's Pick
SuperBolter (2017, Bengaluru, Unfunded)
Online platform offering designing solutions

23. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (7/8)
Interesting Companies identified by Analysts in Fintech India in September 2023
Fintech India: Analyst Picks
23
Added to Editor's Pick
C9LAB (2021, Indore, Unfunded)
Cloud and AI based phishing awareness and training
platform
Added to Editor's Pick
Happy Trail (2022, New Delhi, Unfunded)
Online store offering vapes and smoke products
Added to Editor's Pick
Appokart (2021, Gurugram, Unfunded)
Shopify mobile application development platform
Added to Editor's Pick
QPay (2013, Tirunelveli, Unfunded)
Wallet-enabled payment solution for businesses
Added to Editor's Pick
MSg24x7 (2021, Gaya, Unfunded)
SMS and WhatsApp business API solutions for
enterprises
Added to Editor's Pick
CARQI (2019, Jaipur, Unfunded)
Doorstep car cleaning and waterless car washing
services
Added to Editor's Pick
WA Messages (2022, Sahibzada Ajit Singh Nagar,
Unfunded)
Platform offering tools to generate shortened
WhatsApp links for chat conversions
Added to Editor's Pick
The Whimsy Beauty (2023, New Delhi, Unfunded)
Internet first brand offering makeup products for kids
Added to Editor's Pick
Ki Mobility Solutions (2020, Chennai, Unfunded)
Digital automotive marketplace platform
Added to Editor's Pick
CryptoPlayers (2017, Unfunded)
Cryptocurrency community offering market signals
Added to Editor's Pick
Fynocrat Technologies (2022, Noida, Unfunded)
Online platform providing Al-enabled investing services
and stock ideas
Added to Editor's Pick
Teachnook (2021, Bengaluru, Unfunded)
Online platform offering multi-disciplinary courses

24. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (8/8)
Interesting Companies identified by Analysts in Fintech India in September 2023
Fintech India: Analyst Picks
24
Added to Editor's Pick
WBOT (2022, Ahmedabad, Unfunded)
WhatsApp based chatbot solutions for businesses
Added to Editor's Pick
Oxotel (2022, Mumbai, Unfunded)
App-based platform providing managed co-living
accommodations
Added to Editor's Pick
Buyzone (2021, New Delhi, Unfunded)
Online platform offering multi-category products
Added to Editor's Pick
DeCarbonic (2023, Bengaluru, Unfunded)
Provider of carbon credit services
Added to Editor's Pick
The Future Wall (2019, Chennai, Unfunded)
Cloud based digital signage solution that helps
businesses create, manage, and deliver branding

25. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
IPO Date Company IPO Mcap Exchange Ticker
11 Sep 2023
Rishabh (1985, Nashik, $12.0M)
Manufacturer of test & measuring instruments and industrial
control products
$0.2B NSE:RISHABH
22 Sep 2023
Zaggle (2011, Hyderabad, $13.8M)
SaaS based expense management and card solution for businesses
$0.2B NSE:ZAGGLE
28 Sep 2023
Yatra (2006, Gurgaon, $87.5M)
App-based platform to book multiple travel services
$0.3B BSE:543992
IPOs
List of IPOs in Fintech India in September 2023
Fintech India: IPOs
25

26. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Acquisitions (1/2)
List of Acquisitions in Fintech India in September 2023
Fintech India: Acquisitions
26
Acq. Date Company Acquirer Deal Size
01 Sep 2023
Barrix Agro Sciences(2011, Bengaluru, $3.6M)
Developer of pheromone-based insect traps for crop farming
Sumitomo Chemical India
02 Sep 2023
TenderCuts(2016, Chennai, $29.1M)
Online app-based retailer for meat and poultry products
Good To Go
05 Sep 2023
Data is Good(2019, Noida)
Online platform providing data science courses
SkillArbitrage $3.0M
05 Sep 2023
Neverskip(2008, Chennai)
Provider of management solutions for schools
PowerSchool
06 Sep 2023
Ed-a-Mamma(2019, Mumbai)
Internet first brand offering eco-friendly apparel for kids
Reliance Retail
06 Sep 2023
Pikkol(2014, Bengaluru, $1.4M)
Online platform for booking relocation services
Hybrid Shifting
07 Sep 2023
Memzo(2021, Jaipur)
AI-based facial recognition and photo sharing solution for events
oneglint
10 Sep 2023
The State Plate(2020, Bengaluru, $0.3M)
Platform offering multi-category grocery supplies
JustMyRoots
12 Sep 2023
CommerceUp(2018, Gurgaon, $0.2M)
Cloud-based software solutions to build online stores for e-tailers
Aspire
12 Sep 2023
BillMe(2015, Navi Mumbai)
Digital platform offering solutions for e-commerce retailers
Razorpay

27. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Acquisitions (2/2)
List of Acquisitions in Fintech India in September 2023
Fintech India: Acquisitions
27
Acq. Date Company Acquirer Deal Size
13 Sep 2023
Bridge2capital(2017, Delhi, $1.6M)
Online platform for inventory financing
IIFL Finance
14 Sep 2023
Cyber Boxer(2017, Delhi)
Simulation & cyber loss database-based risk quantification and
assessment
ReThought
19 Sep 2023
Bewgle(2017, Bengaluru, $1.3M)
Provides AI-based customer review analytics
Acceldata
21 Sep 2023
Fego(2020, Chennai, $1.7M)
Provider of open banking APIs
Perfios
28 Sep 2023
Zymrat(2018, Bengaluru, $0.8M)
Internet First Brands offering performance fabric sports wear
apparels for men
Styched
28 Sep 2023
Pocket Aces(2013, Mumbai, $21.2M)
Digital entertainment video production and social content
publishing
Saregama India $20.9M

28. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Fintech India in September 2023
Fintech India:News
28
Exit News
.
● Ola Electric said to plan $700 mn IPO by Oct. end in expedited listing planThe
Hindu
.
● CRISIL to acquire Bridge To India Energy Pvt. Ltd.Asian News International
.
● Zaggle IPO day 2: Issue subscribed 47% India Infoline
.
● Etrans Solutions Pvt Ltd Acquires Ranet4u, Charts Growth PathBusinessFortNight
.
● Yatra’s Lackluster Debut: Lists On Bourses With A 10% DiscountInc42
.
● Plaza Wires Announces IPO Launch Date of September 29, Establishes Price
Range of Rs 51-54 Verve times
.
● NewJaisa Technologies Limited IPO Opens on 25th September, 2023Asian News
International
.
● BSE Technologies Private Limited Announces Sale of Class Back ...Devdiscourse
.
Fund News
.
● Vertex Ventures Hits Final Close Of Fifth India, Southeast Asia VC FundEnablers
● Anicut Secures INR 50 Cr From SIDBI’s Fund Of Funds Inc42
.
● Castler Secures USD 6 Million Funding To Build Global Escrow Platform Enablers
.
● Edelweiss Alternatives launches its first climate fund to combat climate
change Moneycontrol
.
● Cervin Ventures Raises $162 Million To Invest In Early-stage Startups,
Launches Portfolio Services Team PRWeb
.
● 9Unicorns Announces DDay 4, Aims to Raise $100 Million for Startups Clayton
County Register
.
People News
.
● Pepperfry elevates co-founder Ashish Shah to CEO, secures $23 million in
fundingFashion Network
.
● Softbank-backed OYO's top executives step down ahead IPO YourStory
.
● Dealshare closes down B2B vertical, lays off 120 employees Business Line
.
● Former SBI Chairman Rajnish Kumar appointed Chairman of Mastercard India
Business Today

29. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
Recent News (2/2)
Recent News in Fintech India in September 2023
Fintech India:News
29
● Swiggy churn continues, SVP Anuj Rathi quitsMoneycontrol
.
● Jupiter Money Welcomes Swiggy Prodigy Anuj Rathi as Chief Product and
Marketing OfficerMarketing In Asia
.
● United Breweries zooms 5%, investors cheer Vivek Gupta as new boss
Moneycontrol
.
● Netcore Cloud expands Martech team with industry veteransAdgully
.
Company News
.
● PhonePe launches stock broking platformDeccan Herald
.
● FDA OKs alveoair Portable, Digital Spirometermpo-mag.com
.
● Safexpay Ventures Into Gcc, Pledges Up To $10m In Digital Payments
Ecosystem YourStory
.
● 88 Pictures announces the opening of its first international office set for
Toronto Prensario
.
● Zaggle makes entry into neo banking with launch of ZikZuk TechCircle
.
● CupShup launches operations in Kolkata media4growth
● byteXL plans to enter Orissa, Tamil Nadu, Karnataka; aims to ramp up hiring
across divisions | The Financial E... Financial Express
.
Regulatory News
.
● Blow For Gameskraft: SC Stays K’taka HC Order Quashing INR 21,000 Cr GST
Notice Inc42
.
● India’s taxman demands $150m from Tiger Global-backed gaming firm
Dream11 Shareandstocks

30. India Tech - September 2023 Copyright © 2023, Tracxn Technologies Limited. All rights reserved.
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