Indian Startups Secure Over $308 Million This Week Through 24 Transactions
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Synopsis
This week, the Indian startup ecosystem saw remarkable growth as startups raised over $308 million across 24 funding deals, celebrating the ongoing success of the Startup India initiative.
Key Takeaways
- Indian startups raised $308 million this week.
- Funding was achieved through 24 transactions.
- Netradyne secured $90 million in Series D funding.
- Foxtale raised $30 million in Series C funding.
- India has over 1.59 lakh startups.
New Delhi, Jan 18 (NationPress) The funding landscape in the Indian startup ecosystem continued to flourish this week, with startups collectively raising over $308 million through 24 transactions.
As the ‘Startup India’ initiative celebrates its nine-year milestone, the funding environment remains vibrant. From technology-driven innovations to rural advancements, healthcare improvements to biotech innovations, fintech to edtech, and clean energy to sustainable tech, Indian startups are addressing global challenges while simultaneously generating employment opportunities and promoting our pursuit of self-reliance.
The nation is now home to more than 1.59 lakh startups, as recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
This week, Netradyne, a leading SaaS provider specializing in artificial intelligence (AI) and edge computing, announced a significant $90 million in Series D funding, spearheaded by Point72 Private Investments, with contributions from Qualcomm Ventures and Pavilion Capital.
The influx of capital will expedite the company’s growth path through strategic investments in R&D, enhanced go-to-market efforts, and ambitious global expansion.
Additionally, Foxtale, a homegrown D2C skincare brand, successfully garnered $30 million in its Series C funding round, featuring participation from the Japanese multinational KOSE Corporation, along with ongoing support from Panthera Growth Partners, Z47, and Kae Capital.
In another development, early-stage venture capital firm 100X.VC invested $2.7 million in 18 domestic startups as part of its 12th cohort.
On January 16, India commemorated nine years of ‘Startup India’, a transformative journey initiated in 2016. Dubbed ‘National Startup Day’, this event recognizes the country’s progress in nurturing a robust and inclusive entrepreneurial ecosystem.
From 2016 to October 31, 2024, recognized startups have reportedly generated over 16.6 lakh direct jobs, making a significant impact on employment creation.
Key hubs such as Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have been at the forefront of this transformation, while smaller cities have increasingly played a role in the nation’s entrepreneurial advancement.
