New Delhi, March 15 (IANS). The Indian Startup Ecosystem saw a tremendous bounce over funding this week, in which 19 startup collectively raised $ 462.27 million.
This investment was made in six development-phase and ten initial-step deals. Three startups did not reveal their funding details.
This is a significant bounce compared to the previous week, when 30 startup raised around 355.02 million dollars.
Bangalore continued to dominate the startup funding scenario, this week there were ten deals. Important activity was also observed in Mumbai, Delhi-NCR and other cities.
In the industry segment, Fintech and Edtech Startups lead the funding round with three deals, while gaming, healthc and energy startups achieved two deals.
Other sectors including e-commerce, aerospace and manufacturing also attracted the interest of investors.
The growth-stage segment also bounced in the number of deals, including the Cross-Beder Neobanking Startup Jolve in Craigis’ leadership.
Specialty Chemical Sourcing Platform Skimplef acquired $ 40 million in the Series B Round, while luxury fashion platform purple style labs raised the same amount in the series e round.
Other companies receiving funding this week include aerospace firm Ranasons Aerospace, SAAS platform Infinit uptime and Increded Finance.
In the initial stage funding, ten startup collectively raised $ 29.77 million. Renewable Energy Company Amrit Energy led the segment with an investment of $ 11.5 million. This was followed by energy storage startup ampearover, hospitality platform Gostops, mobile game publisher Felicity Games and Admission Platform Embiti.
Some startups including Upskilling platform Vacill, Edtech company Dreamtime Learning and Battery Technology Firm Flowt Battery Science also achieved funding, but did not disclose the exact amount.
Seed funding was the most popular investment phase, with four deals, followed by pre-seed, Series A, Pre-Series A and Series B rounds.
This week, significant changes about leadership were also seen. Former Globalbase President and Chief Business Officer Daman Soni joined Astrock as Chief Business Officer (CBO).
Edtech Unicorn Physicswala appointed Nitin Sawra, Rachna Dixit and Deepak Amitabh as non-executive independent directors.
-IANS
SKT/CBT
