Indian startups had the highest investment for May, with the total funding influx being more than $1.3 billion. This marks the highest funding in 2024 for Indian startups so far. The biggest deal was of $350 million by Google and Flipkart, an additional $100 million in rounds, and several growth stage fundings. During this month 128 deals were made by Indian startups from 1st May to 31st May. The amount raised from these deals was $1.34 billion in funding this month.
Startup Data Intelligence platform, The Kredible mentioned that the deal included 39 growth-stage startups with $1.19 billion worth of deals followed by 66 early-stage deals worth $154 million. 23 primarily early-stage deals are still undisclosed. Last month, Flipkart an Indian e-commerce startup had the biggest fundraising with an investment of $350 million from the tech giant, Google. Flipkart confirmed earlier that Walmart invested $600 million in it as a part of the $1 billion funding capital.
The funding in May almost had about 29% month-on-month increase compared to $1 billion raise in April. On a Y-O-Y basis, May 2024 had a 32% jump to $1.34 billion from $1.01 billion in May 2023. The total funding last year was around $11.3 billion, and it is likely to increase this year. Flipkart had the highest fundraise of $350 million followed by Atlan with $105 million and NephroPlus with $102 million. Atlan is a data collaboration software startup, that raised $150 million in a funding round led by GIC with co-investor Meritech Capital with a valuation of $ 750 million.
D2C sportswear Technosport and a fashion brand Libas also contributed to this funding. Libas is a fashion startup that secured over $18 million in a funding round led by ICICI Ventures. While Techno Sportswear secured $25 million in a round led by the investment fund A91. Apart from them, the top 10 startups that contributed most to this $1.34 billion investment also include Annapurna Finance, B2B e-commerce unicorn Infra.market, Ather Energy, Battery smart, GreenCell Mobility, edtech startup K12, Propelled, and propelld.
Conclusion:
Indian startups saw the highest funding in 2024 so far, in May between 1st May to 31st May. During this month 128 deals were made by Indian startups for $1.34 billion. Flipkart an Indian e-commerce startup had the biggest fundraising with an investment of $350 million from the tech giant, Google. These 128 deals include 39 growth-stage startups with $1.19 billion worth of deals followed by 66 early-stage deals worth $154 million. 23 primarily early-stage deals are still undisclosed. On a Y-O-Y basis, May 2024 had a 32% jump to $1.34 billion from $1.01 billion in May 2023. Flipkart had the highest fundraise of $350 million followed by Atlan with $105 million and NephroPlus with $102 million. Atlan is a data collaboration software startup, that raised $150 million in a funding round led by GIC with co-investor Meritech Capital with a valuation of $ 750 million.
