Indian startups made 19 deals from 2nd September to 7th September. The amount raised from these deals was around $348 million in funding this week. The total funding decreased by 25 percent compared to the last week. Funding activity decreased in India’s startup ecosystem this week as the number went from last week’s $466 million raised across 16 deals to $348 million across 19 deals.
The travel tech startup Rapido topped the overall and the sectorial funding list this week. The total funding amount raised by the startups in this sector was $204 million across two deals. Rapido secured $200 million in its series E funding round from WestBridge Capital and other investors. The ride-hailing platform Rapido secured this amount in its follow-up funding rounds at a valuation of 1 billion USD.
The funding round saw the participation of Nexus Venture Partners, Invus Opportunities, and Think Investments. The company provides an Instant ride-booking platform. Another travel tech company, The Hosteller, secured $4 million during its fresh funding round from V Cube Ventures SA and LV Angel Fund.
The seed funding sector saw a 200 percent increase this week as it went up from last week’s $3.05 million to $10.7 million this week. E-commerce startups secured the most deals and raised $9.4 million across five deals. The Fintech sector emerged as the second favorite of investors this week as it raised $116.8 million across three deals.
Drip Capital led the list of fintech in funding this week. This lending tech platform provides financial services and loaning options to its customers. The FinTech startup secured $113 million during its ongoing funding round from GMO Payment Gateway.
Most of these startups were from e-commerce, travel tech, clean tech, and fintech sectors, followed by consumer services, deep tech, and real estate tech startups like JUSTO Realfintech. Other major deals this week include. E-commerce startup Nutrabay raised $5 million from RPSG Capital Ventures and others during its pre-series A funding round with the participation of other investors.
The deep tech BigEndian Semiconductor contributed $3 million in funding this week, as it raised $3 million in its seed funding round from Vertex Ventures SEA & India. Global Care led the list in the Healthtech sector with $3 million raised in its series A funding round from 35 North India Discovery Fund-II.
Conclusion :
19 deals were made by Indian startups from September 2nd to September 7th, securing over $348 million in funding. Rapido secured the biggest amount, buoyed by $200 million raised in its funding round. It dominated the funding trend in the travel tech sector. Other notable investments include the Drip Capital, which had the highest fundraising in the fintech sector with $113 million in its fresh funding round.
Most of these startups were from the e-commerce, fintech, and cleantech sectors, followed by real estate tech startups like Justo Real Fintech, which raised $7 million in its funding round. E-commerce startups had the highest number of deals and raised $9.4 million from five deals.
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