Indian startups made 13 deals from 2nd June to 8th June. The amount raised from these deals was nearly $326 million in funding this week. The funding amount increased by 22.6% compared to last week’s report. The rise in total fundraising came after an excellent month of May, where Indian startups raised over $1 billion for the first time this year. Here we are talking about Indian startups raised over $326.1 million this week led by Lenskart and Fibe.
Here we are discussing Indian startups raised over $326.1 million this week led by Lenskart and Fibe:
The Eyewear retailer company, Lenskart led the list by securing a total funding amount of $200 million in its second fundraising round from Fidelity Management & Research Company and Temasek. After the second fundraising round, this startup is valued at $5 billion. The company mentioned acquiring land near Bengaluru airport to set up a new branch. Lenskart accounted for 61 percent of the overall fundraising this week, which was $200 million. Other notable investments include Fibe and EV startup Ather Energy, which secured $34.5 million in a round led by Stride Ventures.
The seed funding round has a decline this week as most early-stage startups had a loss due to a market crash following the general elections. Traxcn data reported that mostly late-stage Indian startups raised funds from 16 rounds. Meanwhile, the Pune-based e-commerce startup Fibe secured $66 million in a series E funding round led by TPG’s Rise Fund and Kabira Holdings. The Rise fund led the round with a $16 million investment, followed by Kabira Holdings with a $15 million investment. The startup raised $110 million last August for its series D round led by TPG’s The Rise Fund and Northwest Venture Partners.
Avail was also one of the top startups that secured a $43 million deal in its series A round led by Cyber Fund and Founders Fund. AstroTalk, a B2C Astrotech startup, contributed to the funding this week by securing $9.5 million in its extended series A funding round led by Elev8 and Left Lane Capital. Every week, Indian startups had an increment compared to last week’s $218 million.
Conclusion
13 deals were made by Indian startups from 2nd June to 8th June, securing over $326.1 million in funding. Eyewear retailer Lenskart raised the most significant $200 million from Fidelity Management & Research Company and Temasek. Other notable investments include Ather Energy, which secured $34.5 million in a round led by Stride Ventures this week. Fibe is another e-commerce startup that secured $66 million in a series E funding round led by TPG’s Rise Fund and Kabira Holdings.
The rise in total fundraising came after an excellent month of May, where Indian startups raised over $1 billion for the first time this year. Fundraising of $200 million by Lenskart had a considerable contribution to the total fundraising as it accounted for 61 percent of the overall fundraising this week. Avail was also one of the top startups that secured a $43 million deal in its series A round led by Cyber Fund and Founders Fund, followed by Astrotalk with $9.5 million from Elev8 and Left Lane.
