Significant Funding Surges: Late-Stage Deals Propel Startups to Larger Cheque Sizes

In the current week (December 4-8), the startup landscape experienced a notable surge in funding, marked by larger cheque sizes, particularly in late-stage deals. Despite an ongoing funding winter leading to lower overall investment levels, the week witnessed a total of $104.5 million in investment deals.

1. Sarvam AI Secures $41 Million in Series A Funding Round

   Sarvam AI, a homegrown generative artificial intelligence startup, emerged as a key player, raising $41 million in its Series A funding round. Led by Lightspeed Ventures, the investment saw participation from Peak XV Partners and Khosla Ventures. Founded in July 2023 by Vivek Raghavan and Pratyush Kumar, Sarvam AI is set to focus on India-specific offerings. The funds will be utilized for training AI models supporting diverse Indian languages and voice-first interfaces.

2. The Sleep Company Raises $22 Million in Series C Round

   The Sleep Company, a direct-to-consumer mattress maker, successfully secured $22 million in its Series C round. Existing investors, including Premji Invest and Fireside Ventures, reaffirmed their commitment to the company. The funds will fuel product expansion, enhance brand visibility, and strengthen the omnichannel strategy. With plans to open 100 stores in the next six months, The Sleep Company aims to solidify its presence, particularly in Tier 1 and Tier 2 cities.

3. CoreEL Technologies Secures $16 Million in Series A Funding

   Bengaluru-based aerospace and defense products manufacturer, CoreEL Technologies, obtained $16 million in a Series A funding round from 360 ONE Asset Management Ltd. The funds will be allocated towards research and development, new products, and expanding manufacturing capabilities. The investment positions 360 ONE Asset Management as a minority stakeholder in CoreEL Technologies.

4. Ashv Finance Receives $10 Million Investment from Encourage Capital

   Mumbai-based lender Ashv Finance announced a $10 million investment from Encourage Capital in its Series E round. Managing over Rs 1,000 crore in assets, Ashv Finance plans to utilize the capital to launch a rooftop solar finance facility for small and medium businesses. With a presence in 180 locations across 15 states, the company aims to further expand its operations.

5. Biryani By Kilo Secures $9 Million in Series C Funding

   Cloud kitchen company Biryani By Kilo raised $9 million in its Series C funding round. Alpha Wave Ventures led the investment, with contributions from Ivycap Ventures, Incred Wealth, Clear Bridge Ventures, Vevek Ventures, DSP HMK Holdings, and various individuals. The funds will drive the company’s growth after a hiatus of over two years.

this week showcased a revitalized funding landscape, with startups across various sectors securing substantial investments, signaling resilience and optimism in the entrepreneurial ecosystem.

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