Indian Startups Funding Update: $357.29 Million Raised This Week
During the week, Indian startups raised approximately $357.29 million in funding, marked by 6 growth-stage deals and 21 early-stage transactions, while 3 startups chose to keep their funding specifics confidential.
Compared to the preceding week, where 23 startups across early and growth stages garnered about $152.49 million, this represents a remarkable increase in funding activity.
Growth-Stage Deals
In the realm of growth-stage funding, the used car platform Spinny secured $131 million, leading this week’s funding initiatives. Robotics company Chef Robotics achieved $43 million in funding, and Scapia, a finance technology firm focused on travel, raised $40 million in its Series B round, with funding led by Peak XV Partners. Additionally, micro-finance provider Infinity Fincorp, digital storytelling platform Pratilipi, and the defence technology company Tonbo Imaging also obtained financial backing.
Early-Stage Deals
Additionally, 21 early-stage startups collectively raised $62.19 million. The clean energy startup Aerem received a notable $11.7 million in funding, followed closely by RapidClaims, Sweet Karam Coffee—a South Indian food brand, men’s fashion label The Bear House, AI-driven startup Further AI, and edtech platform CollegeDekho among others.
The e-commerce startup Evenflow, transit retail chain Yatrikart, and café chain Bistro57 also managed to secure funding, though they opted not to disclose the amounts raised.
For a comprehensive breakdown of funding, various sources offer detailed insights.
City and Segment-Wise Deals
In terms of city performance, Bengaluru-based startups took the lead with 13 funding deals, trailed by those in Delhi-NCR, Mumbai, Chennai, Indore, and others.
From a segment perspective, healthtech startups emerged as leaders with 5 deals, while both foodtech and e-commerce sectors followed suit with 4 deals each. Mobility, fintech, AI, edtech, and other sectors also participated actively in securing funding.
Series-Wise Deals
This week, Seed funding deals dominated with 10 transactions, followed by Series A, Series D, Debt, Series A, and other categories.
Week-on-Week Funding Trend
Assessing the week-on-week funding dynamics, startup funding soared more than 2.3 times to $357.29 million, in contrast to the previous week’s $152.49 million. The average funding across the last eight weeks hovers around $271.16 million, averaging 25 deals weekly.
Key Hirings
This week witnessed significant leadership appointments across various companies. Uday R. Sharma was appointed as Chief Business Officer – B2B, 3PL, and Cross Border by logistics firm Xpressbees. Shyam Srinivasan, the former CEO of Federal Bank, joined TVS Capital Funds as a Senior Advisor and Operating Partner. Additionally, upGrad’s corporate skilling division announced Sunita Mohanty as the Revenue Head.
Mergers and Acquisitions
Delhivery Limited has declared the acquisition of a 99.4% stake in Ecom Express Limited, a competitor in the logistics space, for a cash sum of up to Rs 1,407 crore. Furthermore, Mayank Kumar’s talent mobility startup, BorderPlus, acquired Onea Care, a German healthcare recruitment firm, marking its first acquisition.
For further details, various sources provide extensive coverage.
Fund Launches/Expansion
Zeca Capital plans to initiate its first fund with a corpus of Rs 150 crore aimed at investing in sustainability-focused startups in India.
Explore multiple sources for series-wise deals with amount breakdowns, extensive details on fund launches, and additional insights.
Layoffs
Zomato has reportedly laid off around 600 customer support associates shortly after hiring them.
Potential Deals
Investment firms Matrix and Blume are backing the direct-to-consumer fashion brand Freakins, while Jai Kisan has secured additional funds in an extended Series B round.
Financial Results This Week
McCain India surpassed Rs 1,200 crore in revenue for FY24; profit dipped by 29%. E-waste recycling company Attero is approaching Rs 450 crore in revenue for FY24. Eruditus recorded Rs 3,733 crore in revenue for FY24, successfully narrowing losses by 83%. Leverage Edu has crossed Rs 180 crore in revenue for FY25.
News Flash This Week
Ola Electric reported 23,430 unit registrations in March, lagging behind Bajaj and TVS. UPI transactions surged by 13.6% in March. IndiQube received SEBI approval for an Rs 850 crore IPO. Hood transitioned to a matchmaking service under the new brand KnotDating. Dream11 has changed its domicile from the US to India. Shadowfax has converted to a public entity ahead of its IPO. Kissht is planning a $225 million IPO and intends to file draft documents by June. Samunnati achieved a revenue of Rs 2,300 crore in FY25, reinforcing its role in the agriculture ecosystem.
