Indian startups made 112 deals from 1st August to 31st August. The amount raised from these deals was around $1.6 billion in funding this month. This includes 27 growth-stage deals securing $1.32 billion and 71 early-stage deals worth $267 million. The total funding amount increased compared to the last month. Funding activity in India’s startup ecosystem increased this month, as the number went from last month’s 981.54 million USD raised across 124 deals to $1.6 billion across 112 deals.
This marks the second-highest fundraising in 2024 followed by $1.92 million raised during June with the same number of deals. The ecommerce startup, Zepto led the overall and the sectorial funding list this month. The total funding amount raised by this e-commerce company was reported to be $340 million in its series F funding round led by General Catalyst at a valuation of $5 billion. DMI Finance is a finance solution offering fintech startup that secured $334 million in its series F funding round from MUFG and its existing investors. OYO received an investment of $175 million from the National Investment Fund and the Infrastructure Fund during its Series G funding round.
The EV startup Ather Energy surpassed $1 billion in Valuation and joined India’s unicorn club with its fresh funding round. Kinetic Green, an EV manufacturing company led the list of early-stage funding with $25 million raised from Greater Pacific Capital during its series A funding round. Even HealthCare led the funding in the early-stage healthtech sector with $20 million. Fresh Bus is an EV startup that raised $10.5 million from Maniv in its series A funding round. The early-stage fintech platform InvestorAI led the fintech sector with a $10 million series A funding round.
Most of these startups were from the e-commerce, fintech, and EV sectors followed by health tech, deep tech, and prop-tech startups like OYO. Other major deals this week include. The food tech major Zomato acquired Paytm’s movies and ticketing business for $244 million. The hospitality firm Oyo acquired Checkmyguest for $27.4 million. The startup data intelligence platform, the kredible mentioned that around 35 startups raised funds during the seed funding round, 28 deals were done in the series A round followed by 13 pre-series A and 9 series B funding rounds.
Conclusion:
112 deals were made by Indian startups from 1st to 31st August securing over $1.6 billion in funding. Zepto secured the biggest amount, with its $340 million in fundraising it dominated the funding trend in the e-commerce sector. Other notable investments include DMI Finance which had the highest fundraising in the fintech sector with $334 million in its fresh funding round led by MUFG. Most of these startups were from fintech, e-commerce, and EV sectors followed by prop-tech startups like OYO which raised $175 million in its series G round. This marks the second highest funding in 2024 after $1.92 billion secured in June. DMI Finance, OYO, and Zepto together accounted for over 50 percent of the total fund raised in August.
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