Saturday, 27 July 2024, Bengaluru, India
Indian startups made 12 deals from 22nd July to 27th July. The amount raised from these deals was around $43.1 million in funding this week. The total funding amount decreased by 365 percent compared to the last week. Funding activity in India’s startup ecosystem saw a decrease this week, as the number went from last week’s 200 million USD raised across 25 deals to $43.1 million across 12 deals.
The investment tech platform, Stable Money led the overall and the fintech sectorial funding list this week. The total funding amount raised by this fintech startup was reported to be $14.7 million in its series A funding round led by Lightspeed Ventures, RTP Capital, and Matrix partners. Stable Money’s $14.7 million funding round and Neogrowth’s $11 million fundraising made the fintech sector the top favorite among investors for this week. Lending tech startup, Neo Growth came second on the list with $11 million raised in its funding round. Neo Growth is a lending tech platform that raised $11 million in its debt funding round led by Symbiotics Group. The startup plans for the market expansion this year.
The seed funding sector saw no seed funding deal materialize this week. Agritech startups had the highest number of deals and raised $121k across four deals through FAAD Capital. The investment firm FADD Capital was the most active investor this week. Godaam Innovations led the funding of Agritech startup. Godaam Innovations is a B2B market linkage platform. Aqin Biotech, Vedafit Foods, and Mkelly Biotech are the other three startups that got investment from FAAD Capital. Incuspaze bought the Real estate tech sector in third place with $8 million raised in its funding round led by the India Inflection Opportunity Fund.
Most of these startups were from the fintech, real estate tech, e-commerce, and agritech tech sectors followed by enterprise tech and consumer services startups like Charcoal Eats which secured $5.3 million in a funding round led by Girish Patel. Other major deals this week include. E-commerce startup Nasher Miles secured $4 million in its new funding round led by Narendra Rathi, Sulabh Arya, and Mohit Goyal. Other major developments include Nykaa’s plan to raise Rs 125 crore through its non convertible debentures. The board passed the resolution to issue 12,500 NCDs at a face value of Rs 1 lakh each.
Conclusion:
12 deals were made by Indian startups from 22nd July to 27th July securing over $43.1 million in funding. Stable Money secured the biggest amount, with its $14.7 million in fundraising it dominated the funding trend in the fintech sector. Other notable investments include Incuspaze which raised the highest funding in the real estate tech sector with $8 million in its fresh funding round led by India Inflection Opportunity Fund. Most of these startups were from fintech, e-commerce, and agritech sectors followed by real estate, consumer services, and media & Entertainment startups like Mayhem Studios. Agritech startups had the highest number of deals and raised $121k million from four deals.
