🇮🇳 Roundup: Paytm founder pins flop listing on bad timing, more (Updated)

Update (January 12, 8:10 pm): Adds funding news on FPL Technologies 

Startups in India, including Refyne, FPL Technologies, Curefoods, Kaleidofin, Traya, ToolJet, Grip Invest, and PulsOps, collectively raised at least US$231.5 million in disclosed funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

Paytm founder pins flop listing on bad timing

Paytm founder Vijay Shekhar Sharma said the company launched its initial public offering (IPO) at a time when the market was hit by various factors, which affected its pricing.

He added that the market is underestimating the compounding impact that the customer base has on its financial services business.

Several stakeholders in the industry told Tech in Asia that the company’s share price was overvalued, and did not have a clear road to monetization. (Read: Why was Paytm’s market debut a flop?)

Anicut Capital hits final close of US$118.3 million fund

Called the Grand Anicut Fund 2, the VC plans to invest in about 30 early- or growth-stage companies across sectors such as consumer brands, fintech, and food and beverage. These investments will fall under the categories of acquisition financing, promoter or buyback financing, growth capital, and capital restructuring.

The investment firm has already backed over 12 early-stage startups through the fund, with an average deal size of 15 to 100 crore rupees (US$2 million to US$13.5 million).

The company had secured the Indian market regulator’s approval for the fund worth 700 crore rupees (US$94.6 million), with a greenshoe option to raise an additional 300 crore rupees (US$40.5 million).

Artha Energy Resources launches renewable energy investment platform

The company has launched RenewShare, an investment platform that enables fractional ownership of renewable energy assets in the country.