This week witnessed an extraordinary surge in funding for Indian startups, with 41 companies raising a whopping $906.7 million. This represents a significant 170% increase from the previous week’s $336 million, according to the latest reports.
Massive Growth-Stage Deals Lead the Pack
In a series of growth-stage deals, 10 startups collectively raised $857.4 million. Quick commerce company Zepto dominated the scene with a staggering $665 million. Following closely, Ummeed Housing Finance secured $76 million. Other notable fundraises included Aye Finance with $30 million, Bira 91 with $25 million, and Slice with $20 million. These top five deals highlight the diverse sectors attracting significant investment.
Prominent Early-Stage Deals
Early-stage startups also saw a strong week, with 22 companies raising $49.3 million. Leading the early-stage funding was AI sales platform OrbitShift, followed by healthtech startup Alyve Health, agricultural machinery company Balwaan Krishi, custom-made fashion brand The Pant Project, and digital lending platform Supermoney. Additionally, eight startups kept their funding details under wraps, adding an element of intrigue.
City-Wise and Segment Insights
Bengaluru continued to be the epicenter of startup activity, leading with 13 deals, followed by Mumbai, Delhi-NCR, Chennai, Ahmedabad, Hyderabad, and Jaipur. The fintech sector was particularly vibrant, securing 12 deals, while e-commerce, AI, SaaS, food & beverages, and healthtech also attracted considerable attention.
Series-Wise Breakdown
Seed funding led the series-wise deals with 17 transactions, followed by seven Series A and five pre-Series A deals. Debt funding saw four deals, with Series F, Series B, pre-Seed, Series E, and Series G also featuring prominently.
Notable Fund Launches and Strategic Investments
This week also saw three significant fund launches:
- VentureSoul Partners: Debut fund of Rs 600 crore for venture debt investments.
- Gujarat Venture Finance Limited: Rs 200 crore “Prarambh Fund” for seed-stage tech startups.
- 8X Ventures: First close of Rs 60 crore for early-stage deeptech investments, targeting a final corpus of Rs 300 crore.
Key Personnel Movements
- Flipkart’s Cleartrip: Anuj Rathi appointed as Chief Business and Growth Officer.
- Vidyakul: Akhil Hari Angira promoted to Co-founder and Chief Business Officer.
- Paytm: Rajeev Krishnamuralilal Agarwal joins as a non-executive independent director, while Neeraj Arora steps down.
Major Layoffs and M&A Activity
Silk product B2B marketplace ReshaMandi laid off 80% of its workforce due to funding challenges and significant debt issues. On the acquisition front, Ananta Capital’s beauty and wellness arm, Guardian, acquired a 55% stake in Anveya Living. Additionally, Yatra Online increased its stake in Adventure and Nature Network Private Limited (ANN) to 99%, making ANN a subsidiary.
