Indian startups made 5 deals from December 30th to 4th January. The amount raised from these deals was around $14 million in funding this week. The total funding amount decreased by 46 percent compared to the last week. Funding activity decreased in India’s startup ecosystem this week as the number went from last week’s 26 million USD raised across 6 deals to 14 million USD from 5 deals.
The fintech startup, Aye Finance topped the overall and the sectorial funding list this week. The total funding amount raised by the startups in this sector was $13 million across one deal. Aye Finance secured $13 million in its debt funding round from ASK Financial Holdings, Northern Arc, CredAvenue, and MAS Financial Services. The fintech firm offers an online lending platform for small and micro enterprises.
The edtech sector also emerged as the most funded sector with 0.35 million USD raised across two deals. The edtech firm, NumberOne Academy led the edtech funding list with $350k secured from Santosh Nair during its fresh funding round. The seed funding sector saw a huge decline this week, going down a lot compared to last week. Edtech startups secured the highest deals and raised $0.35 million across two deals. The logistics tech and deep tech sector had the one deal.
CargoFL led the funding list for the logistics tech sector this week. This logistics SaaS platform provides AI-driven solutions for logistics businesses. The startup secured $787k during its seed funding round from YourNest Venture Capital. Peaceful Progress Angel Fund, Real Time Angel Fund, Sanchi Connect Accelerator, and angel investors including Dinesh Gulati participated in the round.
Most of these startups were fintech, edtech, and logistics tech startups, followed by consumer services and deep tech startups like Flo Mobility. Other major deals this week include the edtech startup Klassroom, which raised funding during its ongoing pre-series A funding round from Lets Ventures, Ah! Ventures, Hem Securities, and other investors.
The deep tech firm Flo Mobility secured funding from JITO Incubation and Innovation Foundation, Vikram Raichura, Saurabh Runwal, and Debjyoti Paul in its seed funding round. US-based Venture Capital firm, Accel also raised 650 million USD from 131 investors for its eight India fund. Ather Energy also received approval from SEBI for its Rs 3,100 crore IPO this week. The healthcare firm, Pristyn Care also reported its plans to raise $50 to $100 million in its funding round.
Conclusion :
Five deals were made by Indian startups from December 30th to January 4th securing over $14 million in funding. Aye Finance secured the highest fund of 12.8 million USD from Northern Arc, ASK Financial Holdings, and other investors in its debt funding round. The firm dominated the funding trend in the fintech sector.
Other notable investments include CargoFL, which led the funding trend in the logistics tech sector with $787k in its seed funding round. Most of these startups were from the fintech, edtech, and logistics tech sectors, followed by deep tech startups like Flo Mobility.
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