May 19th 2024.
Last week, 26 startups in India were able to secure a whopping $239 million in funding. This included a mix of both growth-stage and early-stage deals, with nine of them falling under the former category and 15 under the latter. According to Entrackr, there were two early-stage startups that chose to keep their funding amounts confidential.
Between May 6 and 11, a total of 24 startups, both early and growth-stage, were able to raise a collective amount of $320 million in funding. Out of these, seven growth-stage startups were able to secure a total of $207.2 million in funding. The highest funding of $72 million was raised by Annapurna Finance, a microfinance firm. Other notable growth-stage deals included Battery Smart, Propelld, and Red, which secured $45 million, $25 million, and $20 million respectively.
In addition to these, there were also 15 early-stage startups that were successful in raising a total of $32.5 million in funding last week. Topping the list was Celcius Logistics, a domestic cold-chain solutions provider, followed by Matel, OTPless, Highperformr.ai, and Stupa Sports. Interestingly, there were two startups, Duro Green and Trezi, that chose not to disclose their funding amounts.
City-wise, Bengaluru emerged as the leader with nine deals, followed by Delhi-NCR, Chennai, Mumbai, Hyderabad, Ahmedabad, and Bhubaneswar, among others. It's clear that the startup scene in India is thriving, with different cities showcasing their potential and attracting investors from all over. With such a diverse range of startups and deals, it's safe to say that the future looks bright for the Indian startup ecosystem.
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