Indian startups made 16 deals from 19th August to 24th August. The amount raised from these deals was around $265.2 million in funding this week. The total funding amount decreased by 33 percent compared to the last week. Funding activity saw a decline in India’s startup ecosystem this week as the number went from last week’s $395.63 million raised across 20 deals to $265.2 million across 16 deals.
The e-commerce platform, BlueStone topped the overall and the sectorial funding list this week. The total funding amount raised by the startups in this sector was $148.7 million across four deals. Bluestone secured $107.2 million in a pre-IPO round from its existing and new investors. The Dec jewelry designing and manufacturing company BlueStone secured this amount in its pre-IPO round. The funding round saw the participation of Prosus, Think Investments, Peak XV Partners, and Pratithi Investments. The company provides subscription-based and customized jewelry. Another e-commerce LivPure secured $27.8 million during its fresh funding round from Ncubate Capital Partners and M&G Investments.
The seed funding sector again declined with LLUMO AI securing $1 million in a funding round this week. The enterprise tech sector secured the highest number of deals and raised $55.06 million across six deals. The fintech sector emerged as the second favorite of investors this week as it raised $61.5 million across five deals. Aye Finance led the list of Fintech in funding this week. The microlending platform provides financial services to MSMEs. The startup offers quasi-mortgage loans, add-on loans, and hypothetical loans ranging from Rs 50 thousand to Rs 1 lakh.
Most of these startups were from e-commerce, fintech, and enterprise tech sectors followed by consumer services, travel tech, and deep tech startups like NxtQube. Other major deals this week include. Fintech startup Axio, a lending platform raised $20 million from Amazon Smbhav Venture Fund in its funding round with the participation of other investors.
The enterprise tech startup Fabrication Bazar contributed $3 million in funding this week, as it raised $3 million in its pre-series A funding round from Physis Capital with the participation of Inflection Point Ventures and ICMG. The Gujrat-based micro venture Capital, Volt VC also launched Rs 45 crore worth of early-stage focused maiden fund to invest in pre-seed rounds across sectors like B2C, B2B, or D2C models.
Conclusion :
16 deals were made by Indian startups from 19th August to 24th August securing over $265.2 million in funding. Bluestone secured the biggest amount, buoyed by $107.2 million raised in its pre-IPO round it dominated the funding trend in the e-commerce sector. Other notable investments include the E2E network which had the highest fundraising in the enterprise tech sector with $50.1 million in its fresh funding round.
Most of these startups were from e-commerce, enterprise tech, and fintech sectors followed by deep tech startups like NxtQube which raised funding in its seed funding round. Enterprise tech startups had the highest number of deals and raised $55.06 million from six deals.
