Indian startups made 25 deals from 29th July to 3rd August. The amount raised from these deals was around $222.2 million in funding this week. The total funding amount increased by 416 percent compared to the last week. Funding activity in India’s startup ecosystem saw a huge increase this week, as the number went from last week’s 43.1 million USD raised across 12 deals to $222 million across 25 deals.
The transport tech platform, Rapido led the overall and the sectorial funding list this week. The total funding amount raised by this travel tech startup was reported to be $120 million in its series E funding round led by WestBridge Capital. Rapido’s $120 million funding round makes it the 116th unicorn in India. This funding round made travel tech the top favorite sector among investors for this week.
Rapido is a ride-hailing service offering mobility startup that secured $120 million in its series E funding round from its existing investors. The Fintech sector emerged as the second favorite of investors this week as it raised $39.4 million across three startups. Clix Capital got an investment of $26.3 million from Apollo Global Management. BharatPe contributed $10.1 million in this sector by raising $10.1 million in debt from Innoven Capital and Trifecta Venture.
The seed funding sector revived in funding this week, as it went up from last week’s nil to $5.1 million this week. Enterprise tech startups had the highest number of deals and raised $9.3 million across seven deals. Gnani led the funding in the enterprise tech sector with $4 million. Gnani is a Gnani.ai is a Generative AI startup that raised this amount from early-stage VC firm Info Edge Ventures in its series A funding round. The space tech startup Galaxeye led the deep tech sector with a $6.5 million series A funding round.
Most of these startups were from enterprise tech, fintech, and consumer services sectors followed by health tech, deep tech, and cleantech startups like Simple Energy. Other major deals this week include. The cleantech startup Simple Energy secured $20 million in its series A funding round led by Balamurugan Arumugam with the participation of several family offices. Meragi is a consumer service startup that raised $9.1 million from Accel, Venture Highway, and Peak XV Partners in its series A funding round.
Conclusion:
25 deals were made by Indian startups from 29th July to 3rd August securing over $222.2 million in funding. Rapido secured the biggest amount, with its $120 million in fundraising it dominated the funding trend in the travel tech sector. Other notable investments include Clix Capital which had the highest fundraising in the fintech sector with $26.3 million in its fresh funding round led by Apollo Global Management. Most of these startups were from fintech, travel tech, and enterprise tech sectors followed by cleantech startups like Simple Energy which raised $20 million in its series A round. Enterprise tech startups had the highest number of deals and raised $9.3 million from seven deals.
Disclaimer – We have collected this information from various trustworthy sources on the Internet, and the facts have been checked manually and verified by our In House team.
