Indian startups made 16 deals from 30th September to 5th October. The amount raised from these deals was around $86.4 million in funding this week. The total funding decreased by 80 percent compared to the previous week. Funding activity decreased in India’s startup ecosystem this week as the number went from last week’s $447.5 million raised across 22 deals to $86.4 million across 16 deals.
The Enterprise tech startup, Mstack topped the overall and the sectorial funding list this week. The total funding amount raised by the startups in this sector was $40.9 million across two deals. Mstack secured $40 million in its series A funding round from Alphawave, Lightspeed Ventures, and other investors.
The company develops and supplies specialized chemicals across four categories. Waycool led the agritech sector with $11.9 million raised during its debt funding round from Grand Anicut. Another enterprise tech startup Zintlr secured $0.9 million during its seed funding round from JIIF, Om Jain, and other angel investors.
The seed funding sector saw a huge decline this week as it went up from last week’s $44.5 million to this week’s $1.9 million. E-commerce startups secured the most deals and raised $6.7 million across four deals. The deep tech sector emerged as the second favorite of investors this week as it raised $7 million across three deals.
The health tech sector also reported the same number of deals and raised $5 million. BASIC home loan, the lending tech platform offering financial solutions secured $10.6 million during its series B funding round from BII, Gruhas, 100 Unicorns, CE Ventures, Venture Catalysts, and others.
Most of these startups were from deep tech, e-commerce, and health tech sectors followed by enterprise tech, fintech, and clean tech startups like ZEVO. Other major deals this week include. A deep tech startup, Str8bat raised $3.5 million from Exfinity Venture Partners and RTL during its series A funding round with the participation of other investors.
The e-commerce startup Furnishka contributed $3.3 million in funding this week, as it raised $3.3 million in its pre-series A funding round from IndiaQuotient, Sparrow Capital, and others. LISSUN led the list in the health tech sector with $2.5 million raised in its pre-series A funding round from RPSG Capital Ventures, Atrium Angels, and Multiply Ventures.
Conclusion :
16 deals were made by Indian startups from September 30th to October 5th securing over $86.4 million in funding. Mstack secured the biggest amount with $40 million raised in its series A funding round it dominated the funding trend in the enterprise tech sector.
Other notable investments include Waycool which had the highest fundraising in the agritech sector with $11.9 million in its debt funding round. Most of these startups were from the e-commerce, deep tech, and health tech sectors followed by clean tech startups like ZEVO which raised $2 million in its pre-series A funding round from Pegasus India Fund and BizDateUp. E-commerce startups had the highest number of deals and raised $6.7 million from four deals.
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