Indian startups made 13 deals from October 28th to November 2nd. The amount raised from these deals was around $362.32 million in funding this week. The total funding increased by 93.84 percent compared to the previous week. Funding activity increased in India’s startup ecosystem this week as the number went from last week’s $187 million raised across 21 deals to $362 million across 13 deals.
The fintech startup Finova Capital topped the overall and the sectorial funding list this week. The total funding amount raised by the startups in this sector was $174.9 million across 2 deals. Finova Capital has $135 million in its series E funding round from Avataar Ventures, Madison India Capital, and other investors. The Non-banking finance company offers micro-credits for low-income individuals and small businesses. Udaan led the e-commerce sector with $35 million raised during its conventional debt round from Stride Ventures, Lighthouse Canton, Trifecta Capital, and Innoven Capital. The fintech startup Vridhi Home Finance secured $36.9 million during its ongoing series B funding round from Norwest Venture Partners and other investors.
The growth stage deals included 6 startups that raised around $270.4 million this week. Fintech startups secured the most deals and raised $171.9 million across 2 deals. Early-stage startups raised $91.92 million across 5 deals this week. The edu-wealth startup Zinc raised 25.5 million in its seed funding round from Quona, Nexus Venture Partners, and other investors. The gain commerce platform Arya.ag is an online platform that connects farmers with buyers. The startup led the funding in the e-commerce sector and raised $19.8 million from the US International Development Finance Corporation in conventional debt. The D2C startup Country Delight contributed $24 million in funding this week raised across its new funding round from Alteria Capital.
Most of these startups were from Fintech, e-commerce, and agritech sectors, followed by biotech, deep tech, and edtech startups like Zinc. Other major deals this week include. AI-based data analytics platform Auquan raised $4 million from Peak XV Partners and Neotribe during its ongoing seed funding round with the participation of other investors. The business and process management solutions offered by the startup EvoluteIQ also raised funding in its conventional debt round from Round2 Capital Partners, Nordea, and other investors. On-demand home service platform COOX raised $125k in its seed funding round from Inflection Point Ventures.
Conclusion:
13 deals were made by Indian startups from October 28th to November 2nd, securing over $362.32 million in funding. Finova Capital secured the biggest amount, with $135 million raised in its series E funding round, which dominated the funding trend in the fintech sector. Other notable investments include Arya.ag, which had the highest fundraising in the agritech sector with $19.8 million in its debt funding round. Most of these startups were from the fintech, biotech, e-commerce, and agritech sectors, followed by edtech startups and deep tech startups. Fintech startups had the highest number of deals and raised $171.9 million from two growth-stage 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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