New Delhi, 6 April (IANS). Indian Startup Ecosystem saw strong activity this week. During this period, the total funding has increased by 2.3 times to $ 357.29 million and 30 deals have been done. The figure was at $ 152.49 million last week.
The increase in startup funding shows the growing trust of investors in India’s growth story. Union Commerce and Industry Minister Piyush Goyal recently said that the role of startups will be important in the journey to make the country the third largest global economy by 2027.
Out of a total of 30 deals this week, there were 6 development stages and 21 early stages. The remaining three other startups have not disclosed the raised funds.
The biggest funding deal of the development phase is done by the used car platform Spini. Its size was $ 131 million.
This was followed by Chef Robotics $ 43 million and Travel Fintech Skepia, which raised $ 40 million in the series B round under the leadership of Peak XV Partners.
Additionally, Infinity Fincorp, copy and tonbow imaging have raised funds at the development phase.
In the initial phase, clean energy startup Erem topped the $ 11.7 million funding. Other companies like Rapidclames, Sweet Karam Coffee, The Bare House, Farder AI and Collegedeko have also raised funds.
Bangalore topped the 13 funding deal, followed by Delhi-NCR, Mumbai, Chennai and Indore.
According to the sector, the maximum number of deals occurred in Healthtech. This was followed by Foodtech and e-commerce.
Speaking at the ‘Startup Mahakumbh’ program earlier this week, Union Minister Goyal said that startup and innovation will play an important role in realizing the vision of ‘Developed India 2047’.
Goyal said on 3 April, “Currently, the fifth largest economy in the world, India is on the way to become the fourth largest by the end of 2025 and to become the third largest economy, leaving behind Japan and Germany by 2027.”
He credited this growth to a strong startup ecosystem.
-IANS
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