21 Indian Startups Secure Over $105 Million in Funding This Week
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Synopsis
This week, 21 Indian startups raised approximately $105.87 million in funding, with notable investments in both growth and early-stage companies. Bengaluru led in funding activity with nine deals, while fintech emerged as the dominant sector.
Key Takeaways
- 21 Indian startups raised $105.87 million this week.
- Geniemode raised $50 million in growth-stage funding.
- MOC Cancer Care secured $18 million from Elevation Capital.
- 16 early-stage startups raised $25.87 million collectively.
- Bengaluru was the top city for startup funding this week.
New Delhi, March 1 (NationPress) This week, a total of 21 Indian startups successfully raised around $105.87 million in funding, spanning various stages of investment.
Among these, three startups secured funding at the growth stage, while 16 early-stage startups garnered investments.
In the prior week, approximately 22 startups raised close to $184.4 million. Over the past eight weeks, the average weekly funding for startups has been around $317.35 million, with about 28 deals happening each week.
Leading the growth-stage funding was the B2B cross-border e-commerce startup Geniemode, which raised $50 million in a Series C round, supported by Multiples Alternate Asset Management.
MOC Cancer Care & Research Centre obtained $18 million in a Series B round led by Elevation Capital, while a fintech unicorn secured $12 million in debt from AK Capital Finance.
At the early stage, 16 startups collectively raised $25.87 million, with the largest funding going to Quick Clean, a professional linen management solutions provider, which raised $5.7 million in a Series A round.
Other early-stage startups that attracted funding included content platform FanTV, EV ecosystem platform Vidyut, fintech startup Lorien Finance, and cross-border payments platform HiWiPay.
Startups such as quick commerce player KiranaPro and gaming startup 1312 Interactive also raised funds but did not disclose the amounts.
Bengaluru emerged as the leading city for startup funding, with nine deals recorded, followed by Delhi-NCR, Mumbai, and other cities.
In terms of sectors, fintech led the funding with four deals, followed by e-commerce, healthtech, spacetech, and gaming startups, each securing two deals.
The week also witnessed significant mergers and acquisitions. Veranda Learning acquired stakes in BB Virtuals and Navkar Digital to enhance its commerce education segment.
Flipkart’s UPI app, Super.money, acquired fintech startup BharatX to broaden its credit offerings.
