We are discussing Indian Startups Raised $196 Million this week, led by Northern Arc, Smartworks, and Bluestones:
Indian startups made 17 deals from 24 June to 29 June. This week, around $196.47 million in funding was raised from these deals, a 75 percent decrease from last week’s. Funding activity in India’s startup ecosystem saw a huge decline this week, as the number went from last week’s 800.5 million USD raised across 21 deals to $196 million across 17 deals.
The Lending platform, Northern Arc, led the overall list and the fintech sectorial funding list this week; the total funding amount raised by the startup in this sector was reported to be $77.4 million, led by FMO across three deals. Co-working space provider Smartworks secured $20.24 million in its fresh funding round from Ananta Capital Ventures Fund, Atlanta Capital, Plutus Capital LLC, and other individual investors. The startup will use these fresh proceeds on business growth, market expansion, and general corporate expenses.
The seed funding sector saw a decline in funding this week, as it went up from last week’s $22.7 million to $6.9 million. A 69% decrease in fundraising was seen at the seed funding level. E-commerce startups had the highest number of deals and raised $48.3 million across five deals. Zyod’s funding round led this sector to fourth place this week, followed by health tech and cleantech startups. Zyod is a B2B fashion startup that secured $18 million in equity and debt funding rounds led by VC firm RTP Global and Lightspeed Ventures. Another e-commerce startup, Bluestone, also entered the list with a $12 million fund raised in its debt funding round from Neo Markets.
Most of these startups were from e-commerce, fintech, and enterprise tech sectors, followed by cleantech and consumer services like Machaxi. Other major deals this week include. Cloudphysician secured $10.5 million in its series A round from Peak SV partners Panthera Peak and Elevar Equity. EV startup Matter Motors is an electric mobility startup that secured $10 million in its maiden equity round from Japan Airlines & Translink Fund, Capital 2B Fund, Helena Special Investments Fund, and Abhay Shah. The Fintech startup LXME raised $1.2 million in seed funding rounds led by Yash Kela, Kalaari Capital, Capri Holdings, Vivek Vig, and more.
Conclusion
Seventeen deals were made by Indian startups from 24th June to 29th June, securing over $196.5 million in funding. Northern Arc secured the biggest amount, buoyed by its $77.4 million fundraising, dominating the funding trend in the fintech sector. Other notable investments include Smartworks, which had the highest real estate tech sector fundraising with $20.4 million in its fresh funding round led by the Ananta Capital Ventures Fund and Atlanta Capital. Most of these startups were from e-commerce, fintech, and enterprise tech sectors, followed by cleantech and consumer services like Machaxi. E-commerce startups had the highest number of deals and raised $48.3 million across five deals.
