New Delhi, 12 April (IANS). The domestic startup ecosystem continued the funding speed this week, with 24 new-edge companies raised more than $ 180 million.
Fintech remained the most funding sector. This week there were six growth-stage and 13 early stages.
Among the biggest growth-stage deals, Digital Payment Technology Company ‘Jaspe’ obtained $ 60 million in its series-D round led by Keedara Capital, with current investors SoftBank and Excel.
A second digital payment company ‘Ezabj’ raised $ 30 million in the funding round led by Besmer Venture Partners.
The domestic wearables brand ‘Noise’ achieved $ 20 million funding from US-based audio equipment giant Bose Corporation, which was its second investment round.
In the initial stage deals, cross-border logistics startup ‘Zindus’ took an edge with a $ 10 million series-e-round.
The average funding in the last eight weeks stood at around $ 246.87 million, with 24 deals per week.
Meanwhile, the Urban Company Board approved raising primary funds of Rs 528 crore through an IPO and the wearable brand ‘Boat’ filed a draft red herring prospectus near SEBI.
In the first quarter of 2025, India was third in the world after the US and UK in terms of funds for the Fintech sector.
The January-March period saw an increase of 47 percent in late-stage funding, which increased to $ 227 million compared to $ 154 million in the fourth quarter of 2024. This is said in a major market intelligence platform Traxon report.
A total funding of $ 366 million took place in the first quarter of this year. The March quarter was the highest funding month with $ 187 million, which was 51 percent of the total fund.
There were 10 acquisitions in the January-March quarter, which indicates an increase of 67 percent and 100 percent compared to 6 and 5 acquisitions respectively in the first quarter of 2024 and the fourth quarter of 2024.
Bangalore was a leader in the total fintech funding gathered during the first quarter, followed by Gurugram and Mumbai.
-IANS
SKT/ABM
