Between June 24 and June 29, 2024, 20 startups from a variety of industries raised over $170 million in funding, capping an incredible week for the Indian startup scene. This capital inflow demonstrates the wide spectrum of sectors drawing interest from investors, including Cleantech, Fintech, Sportstech, and Edtech.
Funding Overview
The period’s investment frenzy demonstrates the Indian startup scene’s strong growth and dynamic character. Notably, notable investments were made in industries like jewellery, sportstech, manufacturing, cleantech, D2C, fintech, artificial intelligence, fashion, and edtech, demonstrating the wide attraction of Indian entrepreneurs to investors.
Significant Investments
The largest individual investment of the week was made by Mumbai-based edtech unicorn upGrad, which raised $35 million in debt from EvolutionX to lead the funding rounds. Then came SaaS company Rocketlane, which was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners and raised an undisclosed sum in a Series B fundraising round.
High-Value Deals
Several high-value deals were noted during this week:
- Smartworks: The flexible workspace provider raised $20.24 million.
- Zyod: The B2B fashion platform secured $18 million.
- Rare Rabbit: The fashion startup also garnered $18 million.
Emerging Startups
Emerging startups made notable strides with smaller yet significant funding rounds:
- DataChamps: This AI startup raised $500,000 in a seed round.
- Machaxi: The sportstech startup secured $570,000 in a pre-Series A funding round.
- Autocracy Machinery: The manufacturing startup raised $600,000 in a pre-Series A round.
- Neo San: The cleantech startup secured $1.5 million in a seed round.
- LXME and Plus Gold: Both fintech startups raised $1.2 million each.
- O hi: The social network startup garnered $1 million in a pre-Series A round.
- LetsDressUp: The fashiontech startup raised $1.31 million in a pre-Series A round.
- Nitro Commerce: This revenue-as-a-service startup secured $1.8 million.
- Morphing Machines: The semiconductor startup raised $2.76 million in a seed round.
- Novavente: The consulting startup secured $3 million.
- Two Brothers Organic Farms: The D2C startup raised $6.99 million in a Series A round.
- Sid’s Farm and CloudPhysician: The D2C and AI healthcare startups raised $10 million and $10.5 million in Series A funding rounds, respectively.
- Bluestone: The jewellery firm secured $11.9 million in debt.
Broader Context
About 91 Indian businesses raised over $1.5 billion in funding between June 3 and June 24, with Mumbai-based Zepto raising $665 million in total. During this time, Fibe ($90 million), Ummeed ($76 million), Battery Smart ($65 million), Sabine Hospitals ($50 million), and Candi Solar ($38 million) were among the other noteworthy receivers of finance.
Merger and Acquisition Highlights
Significant merger and acquisition activity also occurred during this time:
- Nodwin Gaming: This Nazara Technologies esports division purchased a 100% share in Berlin-based Freaks 4U Gaming.
- Kitchens@: This Bengaluru-based cloud kitchen startup was bought by the London-based private equity firm Finnest for the majority of its shares.
Results
The Indian startup ecosystem is active and varied, as seen by the strong funding activity that took place between June 24 and June 29, 2024. As they continue to innovate and draw a lot of interest from investors, Indian entrepreneurs appear to have a bright future ahead of them, thanks to prominent mergers and acquisitions as well as large investments across a variety of industries.
Stay updated with Atom News for more insights on funding trends, startup growth, and investment opportunities in the Indian startup landscape.
