Here are the fundings of the week.
In the first week of August 2024, Indian startups collectively raised around $341 million across 32 deals. This includes 6 growth-stage and 22 early-stage deals, with 4 early-stage startups choosing not to disclose their funding amounts. Compared to the previous week, which saw $113.39 million raised by 22 startups, this week’s funding highlights significant growth in investment activity.
🔰Growth-stage deals🔰
Six startups led the growth-stage funding, raising a total of $216.8 million:
- Rapido: The mobility startup Rapido became the latest unicorn, securing $120 million in a Series E round led by WestBridge Capital.
- Navi: The fintech firm Navi, headed by Flipkart co-founder Sachin Bansal, raised $38 million from JP Morgan for its lending arm, Navi Finserv.
- Clix Capital: This NBFC raised $26.3 million (₹220 crore) in a funding round led by Apollo Global Management, Pramod Bhasin, and Anil Chawla.
- Vayana Network: The trade financing startup secured $20.5 million in its Series D funding round.
- BharatPe: The fintech company raised $10 million in debt financing from Trifecta and InnoVen.
- Khelo More: The sportstech company received $2 million in funding led by Rajdip Gupta of Clear Bridge Ventures and Ashwin Damera, co-founder of Eruditus.
🔰Early-Stage deals🔰
The early-stage segment saw 22 startups raising $124.24 million:
- BluPine: A leading renewable energy services company.
- Simple Energy: An EV startup that previously raised over $20 million in an ongoing Bridge round in February 2024.
- Kinetic Green: An electric vehicle manufacturer.
- Meragi: A wedding services platform, secured $9.1 million in a round led by Accel.
- Scimplify: A platform specializing in the sourcing and manufacturing of specialty chemicals.
Undisclosed Funding
Four early-stage startups—BoldFit, Game Theory, Cogniquest, and Vitra.ai—chose not to disclose their funding amounts.
Sector Highlights
- Renewable Energy: BluPine continues to attract significant investor interest, with the sector raising over $919 million across 19 rounds.
- EV Startups: Simple Energy and Kinetic Green are at the forefront of India’s transition to electric vehicles, reflecting growing investor confidence in sustainable mobility.
- Fintech: Companies like Navi and BharatPe demonstrate the ongoing innovation and investment in India’s fintech landscape.
The first week of August showcased a strong start to the month, with substantial funding across various sectors, particularly in growth-stage companies. The increasing investments in renewable energy, electric vehicles, and fintech are indicative of broader trends shaping India’s startup ecosystem.
This momentum is likely to continue as more startups and investors capitalize on the growing opportunities within the Indian market.
🚀The Builders Club Congratulates and wishes all the Founders🎉🎉
