Can Indian Startups Sustain Their Growth with $184.75 Million Raised This Week?

Synopsis
Key Takeaways
- Indian startups raised $184.75 million this week.
- Bengaluru was the leading city for startup funding.
- Fintech dominated the funding landscape.
- Notable funding rounds included CRED and FlexiLoans.
- Early-stage startups showed strong investment interest.
New Delhi, June 15 (NationPress) Indian startups have maintained their momentum in attracting investors, as a total of 20 startups successfully raised approximately $184.75 million in funding this week.
The funding rounds comprised five growth-stage startups and 14 early-stage firms, with one startup opting to keep its funding details undisclosed.
Seed funding was the predominant type this week, with numerous startups securing capital at the onset of their journeys.
Other funding rounds included Series A, pre-seed, pre-Series A, and even late-stage funding like Series G.
The activity spanned across various cities, with Bengaluru leading the way with nine deals, followed by Delhi-NCR with five.
Additionally, Mumbai, Kolkata, and Chennai also witnessed their startups landing investments. In terms of sectors, fintech startups took the lead, securing six funding deals.
The deeptech and OTT sectors followed closely with two deals each, while other industries such as aerospace, foodtech, e-commerce, and sportstech also experienced positive momentum.
Among the highlights was fintech unicorn CRED, spearheaded by Kunal Shah, which raised $72 million from investors like Lathe Investment, RTP Global, Sofina Ventures, and QED Innovation Labs.
Another notable mention is FlexiLoans, a fintech platform catering to MSMEs, which raised $44 million in its Series C funding round. Furthermore, EV component startup Vecmocon raised a total of $18 million in its Series A round, with $8 million coming in this week through both primary and secondary transactions.
Other prominent deals included investments for the popular QSR chain 'Wow! Momo' and drone technology startup Garuda Aerospace, both of which secured new funding.
On the early-stage side, 13 startups garnered a total of $49.75 million. The largest was Sanlayan Technologies, an aerospace and defense startup, which raised $22 million.
Other early-stage firms that received funding included wealth tech company PowerUp, fintech startups Piston and Zype, and OTT platform FlickTV.
Earlier in the week, Commerce and Industry Minister Piyush Goyal highlighted that there has been an increase in private investments over the last 11 years, with Indian startups attracting more than $150 billion in private funding over the past decade.