Indian Startups Funding Roundup: $184.4 Million Raised This Week

This week, Indian startups collectively secured around $184.4 million in funding, which included 10 deals in growth-stage funding and 12 in early-stage funding. One startup, however, opted to keep its funding details private.

In comparison, the previous week saw 32 startups in early and growth stages raising approximately $375.52 million.

Growth-Stage Funding Highlights

Within the growth-stage segment this week, B2B e-commerce platform Udaan raised $75 million in Series G funding. Wealth advisory firm Waterfield Advisory pulled in $18 million from a new round led by Jungle Ventures, and SaaS company Spyne garnered $16 million. Other startups receiving funding included clean-label health food brand The Whole Truth, pet care brand Dogsee Chew, modern fashion label Rare Rabbit, NBFC Credit Fair, foodtech company curefoods, and jewellery firm Solitario Diamonds.

Early-Stage Funding Insights

Moreover, 12 early-stage startups managed to secure a total of $33.4 million in funding. Enterprise AI startup Singulr AI took the lead with $10 million in a Seed funding round. Other notable participants included AI firm Ikonz Studios, IoT Communications and data analytics startup Probus, Devices-as-a-Service (DaaS) platform Swish Club, and Workplace SaaS startup OneTab AI. Lurny, a content creation and sharing platform, also raised funds but did not disclose the amount.

City and Segment Wise Funding Analysis

Bengaluru emerged as the city with the highest number of funding deals, winning 12 deals, followed by Mumbai, Pune, and other locations. Segment-wise, AI startups took the lead with five deals, while foodtech followed closely with three deals. Fintech, e-commerce, SaaS, and other sectors also bagged funding deals.

Series-Wise Deal Overview

This week, Seed funding deals led the pack with six transactions, followed by Series A, pre-Series A, Series G, and other rounds.

Weekly Funding Trends

Startup funding experienced a significant week-on-week drop of nearly 51%, decreasing to $184.4 million from approximately $375.52 million in the preceding week. The average funding over the last eight weeks has been around $308.3 million, with 26 deals occurring weekly.

Key Leadership Changes

This week featured various important leadership movements. Health services platform Practo appointed Jagnoor Singh as its Chief Operating Officer (COO), while digital payments platform PayU India welcomed Pramod Rao as its chief risk officer. Former Flipkart VP Chanakya Gupta joined Tuco Kids as co-founder, and Trifecta Capital brought in investor Saurabh Singh as partner. Noteworthy departures included Anurag Verma and Shashank Shekhar from senior roles at ShareChat.

Mergers and Acquisitions Updates

This week also saw several key acquisitions. Visa processing platform Atlys acquired the UK subsidiary of visa services company Artionis for an undisclosed cash amount, enhancing its overseas growth. Fintech startup PayRange purchased Turns, a vertical SaaS startup in the laundry sector. Yuma Energy acquired Chennai-based Grinntech to bolster its battery technology, and InCred Group expanded its footprint into the Middle East and Africa by acquiring Dubai-based advisory firm Arrow Capital (DIFC) Limited.

Fund Launches

This week, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) announced a $57.58 million fund aimed at supporting early-stage space technology companies. Additionally, Steptrade Share Services launched a Rs 1,000 crore fund focused on SMEs and microcap firms, which includes a Rs 500 crore green shoe fund.

New Launches and Partnerships

Zypp Electric plans to expand its electric vehicle fleet by adding 100,000 vehicles through a partnership with Indofast Energy. Skylark Drones introduced DMO-AG, a new software platform for the agriculture sector. StockGro partnered with Zomato to enhance financial literacy for delivery partners. PURE EV collaborated with JioThings to integrate smart digital clusters into its vehicles. Garuda Aerospace signed a memorandum of understanding with HFCL for advanced UAV solutions. Paytm has launched a solar-powered Soundbox designed for merchants, and CARS24 unveiled a new platform to broaden its loan offerings. The Labour Ministry and Apna announced a partnership to improve job listings, while Zaggle teamed up with Google to elevate business operations. Lastly, KiranaPro joined the ONDC initiative to bolster its quick commerce ambitions.

Financial Results This Week

SolarSquare reported significant losses in FY24, with losses increasing 2.3 times. Saveo’s revenue approached Rs 200 crore in FY24, exhibiting better economics. The Souled Store, supported by Elevation, achieved profitability in FY24. Rare Rabbit reported nearly Rs 650 crore revenue in FY24, with profits surging 2.3 times. Conversely, The Ayurveda Co faced a loss that soared threefold, with revenue standing at Rs 60 crore.

Potential Deals on the Horizon

WLDD is negotiating to acquire ScoopWhoop from The Good Glamm Group, while POP is in talks with Razorpay for a possible raise of up to $15 million. Additionally, Swiggy is set to invest Rs 1,000 crore in its subsidiary Scootsy to foster business expansion.

This Week’s News Highlights

Zomato has joined the Nifty 50 index amid a reshuffle, replacing Britannia Industries and Bharat Petroleum Corporation Limited (BPCL) effective March 31, 2025. Food delivery giant Swiggy has announced a potential investment of up to Rs 1,000 crore in its subsidiary, Scootsy Logistics, for growth support. Tesla, led by Elon Musk, has initiated hiring in India, aiming to enter the domestic electric vehicle market. Sirona has repurchased its brand from The Good Glamm Group, allowing it to operate independently. PhonePe has started preparations for an IPO, while fintech unicorn Navi has resumed its own IPO discussions. Foodtech company Zomato has unveiled its AI platform, ‘Nugget,’ aimed at providing no-code customer support for enterprises.