Largest series A funds raised in the year 2022

Only a few months back, start-ups were the apple of the eye for investors. Indian startups have drew quite a bit of attention from investors across the globe lately. With 100 unicorns minted with a combined valuation of over $333 Bn, the Indian startup ecosystem witnessed a funding frenzy. The year 2021 alone saw new-age companies raise over $42 Bn. Fundraising was easy and deal-making as swift. India, the third biggest start-up ecosystem after the US and China, minted a unicorn almost every week.

 However, a tsunami of global headwinds has buffeted the shores that sustained the high cash-burn start-ups. The funding winter is expected to last for the next 12-18 months, however, innovative and disruptive startups have managed to raise a good amount of funds. Let’s take a look at the largest Series A funding of the year 2022.

1. Keka, $57 million, HR Tech Platform :  Hyderabad-based company Keka, founded in 2015 by Vijay Yalamanchilli, raised one of the Historic Series A SaaS Funding of $57 million from WestBridge Capital. The platform provides everything to build a good-to-great company. As  software helps HR teams spend less time on mundane tasks and focus more on the vital assets of any organization: the people.  The startup has left an indelible mark with a reach of 6500+ customers across various sectors, including IT services, pharmaceuticals, manufacturing, professional service organizations, accounting, taxation, fin-tech, and others. It currently runs the payroll of 1.5M+ employees monthly.
2. PayVEDA,$11.5 million ,Fintech Player :PayVEDA is a fintech player that strives to bridge the financial gap in the underserved regions of India. Its a  Noida-based startup,incepted in year 2019,by Prateek Vohra.Fintech company PayVEDA has raised $11.5 million in a Series A funding from SphitiCap, an early-stage, sector-agnostic fund.According to startup, it has built a network of over 80,000 merchants since inception. It aims to reach 50 lakh merchants in the next four years. The company also said it has seen a gross transaction volume of Rs 7,000 crore, from over five crore monthly transactions, which it aims to increase to Rs 30 lakh crore in the next four years.
3. Supertails.com,  $10 million,  Petcare Industry:Supertails.com raises $10 million in its Series A round from investors like Fireside. Supertails.com, a startup in the petcare industry, has raised $10 million in a Series A round of funding, which was led by Fireside Ventures and included previous backers Saama Capital and DSG Consumer Partners. Angel investors like Kunal Shah, Varun Alagh, Sanjay Kapoor, Ankit Nagori, and Shashank Mehta also participated in the round. According to the startup, the additional funding will be used to develop cutting-edge tech products, including the mobile application for Supertails.com, the expansion of verticals like Vet Diets and Pet Pharmacy channels, the strengthening of the supply chain, and the improvement of the post-sales experience.
4. BluSapphire,$9.2 million, Cybersecurity Platform :BluSapphire is a hyper-expanding cybersecurity SaaS platform and a Gartner Cool Vendor. The platform was founded by Kiran Vangaveti, a cyber professional with 25 years of experience and the former chief information security officer at Tudor Investments, a major hedge fund. It recently completed its Series A financing with a $9.2 million funding. With participation from international VC firm Dallas Venture Capital, Binny Bansal-backed xto10x, RPG Ventures, and Merisis Venture Partners, the round was spearheaded by Barings Private Equity India. Only ValueBridge Capital served as the transaction’s advisor. The startup  founder strongly  believes that Building resilience against sophisticated cyber-attacks is the key to business survival. BluSapphire operates with this vision. The capital will help us continue to build and grow our SaaS platform rapidly across North America and India.
5. ProcMart, $10 million, enterprise-focused MRO aggregator :ProcMart is an enterprise-focused MRO aggregator with a tech-enabled digital platform. Founded in 2015 by Anish Popli, a first-generation entrepreneur and an IIM Lucknow and NIT-Trichy Alumnus with experience in procurement and project management from BHEL and Energo Engineering. Recently ProcMart has secured $10 million in a series A funding round led by Sixth Sense Ventures. According to the startup the latest round of funding will be deployed towards international expansion, strengthening vendor partnerships and upgrading technological and warehousing capabilities.