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Tag: Indian Startup Funding

  • 36 Indian Startups Secure Massive $628 Mn In Funding This Week, A 174% surge | Economy News

    New Delhi: The Indian startup ecosystem saw massive funding flow this week at more than $628.24 million raised by 36 startups — a whopping 174.5 per cent surge from last week. The funding momentum was led by edtech company Physics Wallah (PW) which secured $210 billion in its Series B funding round and took the company’s valuation to $2.8 billion.

    The round was led by Hornbill Capital, with significant participation from Lightspeed Venture Partners, and existing investors GSV and WestBridge. The week saw 14 growth-stage deals and 17 early-stage deals amid the positive investment environment in the country.

    As per an Entrackr report, SaaS-based digital adoption solution provider Whatfix raised $100 million. The company, however, is yet to make the funding public. While API infrastructure platform M2P Fintech secured $50 million, omnichannel diagnostics service provider Redcliffe raised $42 million and digital infrastructure company iBUS secured $34 million.

    Fleet management company Everest Fleet successfully raised $30 million as part of its ongoing $50 million Series C funding round, to enable it to scale operations and expand its fleet of clean-energy vehicles, including CNG and electric vehicles (EVs).

    Vahan.ai, an AI-powered recruitment platform, announced its Series B funding of $10 million led by Khosla Ventures. The funds raised will be used to develop AI recruitment technology to support eight major Indian languages. Bengaluru-based startups led with 12 deals this week, followed by Delhi-NCR, Mumbai, Chennai and Hyderabad.

    Last week, 24 domestic startups secured more than $229 million in funding, which included six growth-stage deals worth $182.65 million. The week saw 13 early-stage deals worth $46.14 million. The average funding in the last eight weeks stands at around $393 million, with 28 deals per week.

  • 24 Indian startups Raise Over $229 Million In Funding This Week | Economy News

    New Delhi: At least 24 domestic startups secured more than $229 million in funding this week, which included six growth-stage deals worth $182.65 million. The week saw 13 early-stage deals worth $46.14 million. Overall, Bengaluru-based startups led with eight deals, followed by Delhi-NCR, Mumbai, Hyderabad and Kolkata, as per industry data.

    The funding momentum was led by mobile advertising network software InMobi which raised $100 million in a debt funding round, followed by MSME-focused fintech lender FlexiLoans which secured $35 million. While employee healthcare platform Onsurity secured $21 million, spiritual tech startup AppsForBharat raised $18 million.

    Among other fundings, consumer lending platform Moneyview received $4.65 million and HRtech platform HROne $4 million this week. The average funding in the last eight weeks stood at over $331 million with 26 deals per week. E-commerce startups led the funding with 5 deals, followed by fintech, healthtech and Cleantech startups.

    Among mergers and acquisitions, Nazara Technologies took a controlling stake in Moonshine Technology, the parent company of PokerBaazi, for Rs 982 crore. The gaming and sports media company acquired 47.7 per cent stake in Moonshine for Rs 832 crore through a secondary transaction and announced to infuse Rs 150 crore in primary capital via compulsory convertible preference shares.

    E-commerce enabler GoKwik acquired Return Prime, a global returns management app. Meanwhile, global venture capital firm Accel announced a pre-seed scaling programme where selected startups will receive up to $1 million in funding through equity or convertible note, and access perks worth more than $5 million from Accel’s network partners.

    Last week, the Indian startups secured $348 million across 19 deals. The week was led by ride-sharing platform Rapido which raised $200 million in its Series E funding.