Synopsis
This week, 25 Indian startups raised over $176 million in funding, including five growth-stage and 15 early-stage deals. Notable investments include Euler Motors and Nivara Home Finance.Key Takeaways
- 25 startups raised over $176 million this week.
- Euler Motors received $60 million from Hero MotoCorp.
- Nivara Home Finance secured Rs 245 crore in Series B funding.
- Pilgrim raised $23 million in funding.
- Average funding over the last eight weeks was $254 million.
New Delhi, March 22 (NationPress) A total of 25 Indian startups raised more than $176 million in funding this week, comprising five growth-stage and 15 early-stage deals.
Startups are pivotal for innovation and economic progress, and their disruptive nature, flexibility, and dedication to addressing genuine challenges are shaping the future of India.
In terms of growth-stage funding, EV manufacturer Euler Motors acquired $60 million (approximately Rs 525 crore) from Hero MotoCorp. The Board of Directors at Hero MotoCorp greenlit the investment during their meeting. This investment will grant the company a 32.5 percent stake in Euler Motors on a fully diluted basis.
Nivara Home Finance secured Rs 245 crore in its series B funding round, led by the private equity firm True North. Other pre-existing investors in this round included Baring PE India along with its promoters.
Meanwhile, the direct-to-consumer (D2C) beauty and personal care brand Pilgrim raised $23 million in funding.
Protectt.ai, a mobile app focused on cybersecurity and fraud prevention, garnered Rs 76 crore in its Series A funding round led by Bessemer Venture Partners. Additionally, the fintech startup Navadhan raised $12.8 million.
The average funding over the past eight weeks has been approximately $254 million, with around 25 deals occurring weekly.
Venturi Partners, a prominent growth-stage investor focused on consumers in India and Southeast Asia, announced the launch of its second fund, aiming for $225 million with a hard cap of $250 million.
The new fund will maintain its focus on Venturi's core strategy of supporting consumer brands that are transforming their industries and developing innovative products and services for the changing Asian consumer.
Additionally, PayU acquired a 43.5 percent stake in the real-time payments technology company Mindgate Solutions, while the e-commerce SaaS firm Unicommerce approved the complete acquisition of Shipway this week.
Last week, the Indian startup ecosystem saw a notable spike in funding, with 19 startups collectively raising around $462.27 million.
