This week, 21 Indian startups raised around $139.5 million, a decline from last week’s total of $194.22 million. Growth-stage funding totaled about $65.75 million while early-stage startups claimed $73.75 million. Key hirings and acquisitions took place, and notable fund launches signaled ongoing optimism in the sector.
In yet another lively week for Indian startups, a total of 21 firms snatched up about $139.5 million in funding. Among them were five growth-stage businesses pulling in some serious cash, and 13 early-stage companies also got to celebrate. But three startups opted for the classic move and kept their funding figures under wraps. Taking a look back, the previous week saw 27 startups score around $194.22 million, which puts this week’s numbers into perspective.
Now, diving deeper, the growth-stage funding totaled nearly $65.75 million this week. Leading the pack was healthtech startup CureBay, garnering attention with its Series B round backed by Bertelsmann India Investments. Right on its heels is cybersecurity firm CloudSEK, successfully raising $19 million in its own Series B. On a related note, Euler Motors secured $15 million as part of a larger $60 million Series B round, while fintech names like Dvara KGFS and Borderless (or Stockal) also joined the fundraising frenzy.
Switching gears to the early stage, 13 startups collectively grabbed $73.75 million in various funding rounds. The highlight? Mythik, launched by Jason Kothari, which managed to pull off a $15 million seed round. Other players like ALT Carbon, Biostate AI focused on AI, and SaaS contender Data Sutram were also on the list. Interestingly, some emerging startups like Spacetech’s PierSight and e-commerce brands BlackCarrot and The Sock Street have raised funds but decided to keep those numbers hush-hush. For a detailed breakdown, check out TheKredible.
When we look at the geographic spread of the funding, it’s quite telling. Delhi-NCR startups led the charge with eight deals, while Bengaluru followed with four. Mumbai, Chennai, Bhubaneshwar, and Ahmedabad didn’t miss out either, as they snagged a few deals too. In terms of sectors, fintech emerged as the winner with exciting new angles from three deals, alongside e-commerce and media, also not too far behind with three and two deals respectively.
The startup scene in India continues to hum, even with a noted decline in week-on-week funding. From notable acquisitions like Nazara Technologies acquiring Curve Digital, to hefty fund launches, the landscape retains its dynamic spirit. Prominent hirings highlight the push for growth, with leaders stepping into key roles ahead of major events like IPOs. As the weeks unfold, it will be interesting to see how startups adjust strategies and tackle the changing landscape while aiming for innovation and sustainability in this fast-paced sector.
Original Source: entrackr.com
