Indian startups led by Women raised 75 deals and around $523 million in funding in the first half of this year. The funding amount increased by 81 percent YoY compared to last year’s $289 million raised from 62 deals in the first half. Inc42 reported that the Funding activity in the women-led Indian startup ecosystem increased this year, as the number went from 289 million USD raised in H1 2023 to $523 million for the first half of this year. We are disscusing about Women-led Indian startups reported an 81 percent increase in their investment in the first half of 2024.
We are disscusing about Women-led Indian startups reported an 81 percent increase in their investment in the first half of 2024:
The D2C fashion brand Foxtale led the list with $18 million raised, followed by Mobkwik’s $6 million debt funding round led by Blacksoil. Foxtale is a D2C beauty and skincare startup offering customized skin care products for all skin types. The company secured $18 million in its series B round led by Panthera Growth Partners, with the participation of Matrix Partners India and Kae Capital. Foxtale’s post-allotment valuation was around $96 million.
The women-led startups in the fintech sector led the overall funding list with $255 million secured, followed by enterprise tech startups securing $122 million. The E-commerce sector led the list of the most number of deals, with $101 million secured among 28 deals. Startups from Delhi NCR secured most deals region-wise, with $171 million from 21 deals, and Chennai ranked second for the overall funding with $166 million raised. Peak XV partners announced a women entrepreneur-focused spark program with 16 female founders to provide women founders with equity-free grants worth $100k, mentorship, and other services.
The former minister of women and child development, Smriti Irani, previously mentioned that many startups from science and technology are not turning commercial and that the risk taken by women-led startups is way too low compared to men. The government of India increased the loans for startups to Rs 43 crore, and around 70 percent of this loan was given to women entrepreneurs. The government has been taking several initiatives focused on Women entrepreneurs. Meanwhile, the debt investments in the Indian startup ecosystem increased by two times to $576 million in the first half of this year compared to last year.
Conclusion
Seventy-five deals were made by women-led Indian startups from 1st January to 30th June, securing over $523 million in funding. Foxtale secured the immense amount, buoyed by its $18 million fundraising, followed by Mobkwik’s with $6 million raised in its debt funding round. The startups in the fintech sector dominated the funding with $255 million, followed by women-led enterprise tech startups with $122 million.
The government has been launching various programs to help women entrepreneurs. Recently, the ministry increased the loans for startups to Rs 43 crore, of which around 70 percent were given to women entrepreneurs. Most of these startups were from the e-commerce, fintech, D2C fashion, and enterprise tech sectors, followed by cleantech and consumer services. E-commerce startups had the highest number of deals and raised $101 million across 28 deals.
