Indian Startup Weekly Report August 2024 Week #3

This past week, Indian startups collectively raised approximately $432 million in funding through 25 deals. Of these, 6 were growth-stage deals that accounted for $350 million, while 16 early-stage startups secured $82.09 million in total. Notably, three early-stage startups—Adukale, CricHeroes, and Flam—chose not to disclose their funding amounts.

Growth-Stage Deals

Among the growth-stage deals, six startups raised a combined $350 million:

  • Oyo: Hospitality platform spearheaded its $175 million Series G round.
  • Ather Energy: Electric scooter manufacturer joined the unicorn club with $71 million in a Series E round.
  • Neo: Wealth and asset management firm secured $48 million.
  • Syfe: Wealthtech startup raised $27 million in equity funding.
  • Vayana: Trade credit infrastructure platform secured $20.5 million.
  • Innoviti: Payment gateway and PoS provider raised $8.5 million in a mix of equity and debt.

Early-Stage Deals

Sixteen early-stage startups secured a total of $82.09 million in funding:

  • Kinetic Green: Electric vehicle maker secured $25 million from Greater Pacific Capital.
  • Fresh Bus: Electric intercity bus startup raised $10.5 million in a Series A round.
  • Beco: D2C home, kitchen, and personal care brand raised $10 million.
  • Kazam: E-mobility startup secured $8 million.
  • 4baseCare: Healthcare startup raised $6 million led by Yali Capital.

Additionally, three startups—Adukale, CricHeroes, and Flam—chose not to disclose their funding details.

City-Wise Breakdown

Bengaluru remained the epicenter of startup activity with 9 deals, followed by Delhi-NCR, Mumbai, Pune, Chennai, Kochi, and Ahmedabad. The strong showing of both growth and early-stage startups indicates a continued investor confidence in India’s thriving startup ecosystem.

Indian Startup Weekly Report August 2024 Week #3

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