May 26th 2024.
This week, the Indian startup scene has been buzzing with activity as a total of 24 startups have successfully raised a whopping $444 million in funding. Among these are five growth-stage deals and 14 early-stage deals, according to a report by Entrackr on Saturday.
While two of the early-stage startups chose not to reveal the amount raised, the rest of the startups collectively secured $240 million in funding last week. On the growth-stage front, seven startups were able to secure a total of $394.21 million in funding this week. The biggest chunk of this amount went to e-commerce giant Flipkart, who received a hefty $350 million from Google. Following closely behind was financial services platform Navi, who secured $18 million in debt.
But Flipkart and Navi were not the only ones to make it big this week. Other startups such as managed accommodation provider Stanza Living, rural financial services firm Save Solution, and NBFC Dvara KGFS also received significant funding.
In addition, 14 early-stage startups were able to secure a total of $49.6 million in funding this week. Topping the list was SaaS startup UnifyApps, followed by solar energy platform Soleos Solar Energy, NBFC Varthana, and producer of high-quality Single-Walled Carbon Nanotubes, NoPo Nanotechnologies. Other startups on the list include Collective Artists Network, 8chili, Agrilectric, Fix My Curls, and Infinx, who chose to keep their funding amount undisclosed.
In terms of city-wise distribution, Bengaluru-based startups took the lead with 14 deals, followed by Delhi-NCR, Mumbai, Hyderabad, Ahmedabad, Ludhiana, and Chennai.
All in all, it has been a successful and lucrative week for Indian startups, with a diverse range of industries and cities represented in the list of funded startups. The future looks bright for the Indian startup ecosystem as it continues to attract a significant amount of funding and support from investors.
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