New Delhi, December 21 (IANS). This week saw a huge increase in funding for Indian startups, with 30 companies raising a total of $363.9 million (about Rs 3,640 crore).
This is much more than last week, when 22 startups had raised $137.68 million (about Rs 1,370 crore). Growth and late-stage funding dominated this week, with over $300 million raised across 9 deals.
The largest amount was raised by a customer engagement platform called Moingage. It received an investment of $180 million in its Series F round. ChrisCapital, Dragon Funds and Schroders Capital helped in this. After this, spacetech startup Digantara raised $50 million. At the same time, electric commercial vehicle startup Qsave raised $15 million and stock market learning platform Stockgrow raised $13 million.
Early-stage startups raised $62.4 million through 20 deals this week. Haircare brand Moxy Beauty raises $15 million in Series A round led by Bessemer Venture Partners. Shapewear brand Underknit raises $6 million in Pre-Series A round.
Startups like WorkIndia, Oben Electric, Tagbin, Virohan and Ace Turtle also received funding this week. Luxury jewelery startup Queen received investment from Bollywood actors Aamir Khan and Ranbir Kapoor, although the amount of the investment has not been disclosed.
City-wise, Bengaluru had the highest number of deals at 15, while Delhi-NCR had 6 deals. Startups in Mumbai, Bhubaneswar, Hyderabad and Kolkata also received funding this week.
Sector-wise, e-commerce startups made the maximum number of 7 deals. After this, biotech companies made 3 deals. Investors were also interested in AI, spacetech, electric vehicles, edtech and SaaS (Software as a Service) companies.
If we look at the type of deals, there were 6 deals each in Series A, Series B and Seed rounds. There were 3 deals each in Pre-Series A and Pre-Seed rounds, while investments were also made in Series F and Pre-Series B rounds.
Over the last 8 weeks, an average of $308.14 million in funding has been raised across 25 deals per week.
-IANS
DBP/ABM