The growth round at bionics firm Makers Hive topped the dealmaking charts in a week that was otherwise dominated by early-stage investments.
The Hyderabad-based startup raised $9 million (about Rs 65.6 crore at current exchange rates) from an idea-stage fund established by Starfish Growth Partners and Investpad.
Established in 2018, Makers Hive focuses on addressing prosthetic assistance needs around the world. Its flagship product is KalArm, a 3D printed, customisable and app-enabled bionic hand. Both Starfish Growth Partners and Investpad have been involved with the company since its inception.
In total, 15 startups raised around $39.4 million this week, with eight startups not disclosing the amount. Last week, the tally was at $141 million across 16 deals.
Cloud kitchen platform FreshMenu was the only other growth stage firm that secured investments this week. The company received shareholders’ approval to raise about $480,000 from its existing backers Zodius Technology Fund and Lightspeed Venture Partners.
Among early stage deals, male grooming brand Bombay Shaving Company bagged the largest sum. It raised $6.2 million in a funding round led by consumer goods giant Reckitt Benckiser. The round saw participation from individuals including Avaana Capital founder Anjali Bansal and CleanMax Energy managing director Kuldeep Jain.
Elucidata, a biomedical molecular data company, landed $5 million in its early-stage funding round led by IvyCap Ventures this week. Boston-based seed stage firm Hyperplane Venture Capital and a few angel investors also participated in this round. Elucidata is developing a drug-discovery platform called Polly. Scientists can access Polly to get curated and analysis-ready data from over 100,000 biomedical datasets.
South Korean-based venture capital firm Hashed made its India foray with an investment into social audio platform Headfone. The Bengaluru-based startup raised $3 million as part of its Series A funding round from Hashed and Seung Yoon Lee, founder of mobile serial fiction app Radish Fiction backed by SoftBank Ventures Asia.