Funding Surge for Indian Startups This Week
New Delhi: Indian startups experienced a remarkable uptick in funding activity this week, as 30 enterprises collectively secured approximately $363.9 million through various early-stage and growth-stage transactions.
This substantial increase is particularly notable when contrasted with the previous week, during which 22 startups raised roughly $137.68 million.
The week was predominantly characterized by growth and late-stage funding, surpassing the $300 million threshold across nine transactions.
The most significant capital infusion was experienced by MoEngage, a customer engagement platform, which garnered an impressive $180 million as part of its Series F financing from prominent investors, including ChrysCapital, Dragon Funds, and Schroders Capital.
Following closely was Digantara, a spacetech startup that successfully raised $50 million.
In addition, Qucev, an electric commercial vehicle startup, secured $15 million, while StockGro, a stock market education platform, raised $13 million.
Other notable participants in this funding round included WorkIndia, Oben Electric, Tagbin, Virohan, and Ace Turtle.
Early-stage ventures accumulated around $62.4 million through 20 deals. Moxie Beauty, a haircare brand, notably raised $15 million in a Series A round led by Bessemer Venture Partners.
Underneat, a shapewear brand, achieved $6 million in a pre-Series A funding round spearheaded by Fireside Ventures.
Additionally, sectors such as Sisir Radar, Alimento Agro, Elementoz, and Rotoris also attracted investment.
In a noteworthy development, luxury jewelry startup QWEEN secured funding from Bollywood luminaries Aamir Khan and Ranbir Kapoor, although the exact investment amount remains undisclosed.
Geographically, Bengaluru dominated the funding landscape, recording 15 deals, followed by Delhi-NCR with six transactions.
Startups hailing from Mumbai, Bhubaneswar, Hyderabad, and Kolkata also finalized funding deals throughout the week.
When analyzed by sector, e-commerce startups led the pack with seven deals, while the biotech sector followed with three.
Investors also expressed interest in startups specializing in AI, spacetech, electric vehicles, edtech, and SaaS.
In terms of deal categorization, Series A, Series B, and seed rounds each accounted for six deals.
Meanwhile, pre-Series A and pre-seed rounds featured three transactions each, with Series F and pre-Series B rounds also seeing activity.
Over the past eight weeks, the average weekly funding has been approximately $308.14 million across around 25 transactions.
Source link: Zeenews.india.com.
