June 15th 2024.
This past week, the Indian startup ecosystem has seen a significant boost in fundraising, with a whopping $202 billion secured through 21 deals. This marks a remarkable 100% surge from last week's $98 million raised in 10 deals.
Leading the pack in terms of investment is the cleantech sector, with EV startup Battery Smart securing an impressive $65 million, thanks to the support of LeapFrog Investments. The funding round also saw the participation of esteemed investors such as MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures, and British International Investment.
In addition to the cleantech industry, other sectors also saw substantial investments. Direct-to-consumer skincare company Foxtale raised $18 million in a round led by Panthera Growth Partners, a Singapore-based firm. Similarly, beauty and makeup brand Renee Cosmetics secured a whopping Rs 100 crore in a Series B funding round from existing investors Evolvence India and Edelweiss Group. This brings the company's valuation to an impressive Rs 1,200-1,400 crore.
In other exciting news, Zepto, a quick grocery delivery platform, is set to receive a massive investment of $650 million from both new and existing investors. This significant funding will push the company's valuation to an impressive $3.5 billion, making it a formidable rival to Blinkit, its closest competitor. Zepto has also announced its plans to go public within the next 2-3 years, further solidifying its position in the market.
Overall, it is a promising time for the Indian startup ecosystem, with various sectors seeing substantial investments and growth. As the demand for innovative and sustainable solutions continues to rise, we can expect to see more groundbreaking developments in the near future.
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