Indian startups made 6 deals from 23rd December to 28th December. The amount raised from these deals was around $25.9 million in funding this week. The total funding amount decreased by 85 percent compared to the last week. Funding activity declined in India’s startup ecosystem this week as the number went from last week’s 171.2 million USD raised across 20 deals to 25.9 million USD from 6 deals.
The fintech startup, Univest topped the overall and the sectorial funding list this week. The total funding amount raised by the startups in this sector was $10 million across this one deal. Univest secured $10 million in its series A funding round from Bertelsmann India Investments, and other investors. The fintech firm offers an online platform for investments.
The fintech sector also emerged as the second most funded sector with 10 million USD raised across one deal. The deep tech firm, Mindgrove Technologies led the deep tech funding list with $8 million raised during its series A funding round from Speciale Invest, Mela Ventures, Nishchay Goel, Peak XV Partners, and other investors.
The seed funding sector saw an 89 percent decrease this week as it went from last week’s $9.2 million to this week’s $1 million. Deep tech startups secured the highest deals and raised $11 million across three deals. The edtech sector had one deal, which raised $4 million.
Enterprise tech raised 1 million USD across one deal this week. Sparkl Edventure led the funding list for the edtech sector this week. This online platform provides educational courses and live classes. The startup secured $4 million during its fresh funding round from Deepinder Goyal and Nithin Kamath.
Most of these startups were from deep-tech and fintech startups followed by edtech and enterprise tech startups like Leanworx. Other major deals this week include. The deep tech startup, Proxgy secured $3 million during its series A funding round from Sunil Shetty, Nikhil Kamath, Anjinkya Rahane, Manish Patel, and other investors.
Another deep tech startup, Naxatra Labs raised fresh funds in its seed funding round from GVFL, Rainmatter, and others. The enterprise tech firm Leanworx contributed $973k in funding this week, as it secured this amount in its seed funding round from YourNest Venture Capital.
Conclusion :
6 deals were made by Indian startups from December 23rd to December 28th securing over $25.9 million in funding. Univest secured the biggest fund of $10 million from Bertelsmann India Investments and other investors in its series A funding round and dominated the funding trend in the fintech sector. Other notable investments include Mindgrove Technologies which had the highest fundraising in the deep tech sector with $8 million in its recent funding round.
Most of these startups were from the enterprise tech, fintech, and edtech sectors followed by deep tech startups like Proxgy, which raised $3 million in its funding round from Anjikya Rahane, Nikkil Kamath, and other investors. Enterprise tech startups had the most deals each with three deals.
Niraj Kumar is the Founder and CEO of Scoopearth, bringing over 13 years of experience across diverse domains, including journalism, content marketing, digital marketing, startup mentoring, and business coaching. His extensive background and leadership have made a significant impact in these areas, helping startups grow and succeed in a competitive landscape.
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Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.
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