Indian Startups Secure $250 Million Through 18 Transactions This Week, Marking a 72% Surge
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New Delhi, Dec 7 (NationPress) The Indian startup landscape has achieved a total funding of $250 million across 18 transactions this week, showcasing a noteworthy 72% increase.
Last week, domestic startups had garnered over $145 million, as investor confidence in the country experienced a resurgence regarding VC funding.
The global investment entity Prosus announced its investment of $100 million in the non-banking financial company Vastu Housing Finance and $80 million in the fintech firm Mintifi.
The AI-driven customer feedback platform Enterpret successfully raised $20.8 million in a Series A funding round led by Canaan Partners, a prominent US-based venture capital firm.
The electric two-wheeler manufacturer Ultraviolette secured Rs 130 crore in a new funding round from its existing backers, including Zoho, Lingotto, Mudhal Partners, and Ojas Consultation.
Notable investors such as Kleiner Perkins, Peak XV Partners (a branch of Sequoia Capital India), Wing Ventures, and Recall Capital, along with angel investors, also contributed to this funding.
Agrileaf, a prominent Indian producer and exporter of biodegradable dinnerware, acquired Rs 16 crore (approximately $2 million) in growth funding led by Capital-A and Samarsh Capital. The Money Club, a platform for on-demand liquidity, raised $2.5 million in their Series A funding round led by Prudent Investment Managers.
Glow, an innovative Ethereum-based solar energy company, secured $30 million in funding from distinguished venture capital firms Framework and Union Square Ventures. This substantial investment will support Glow's ambitious goals of promoting renewable energy adoption and decentralizing the global energy grid both in India and worldwide.
Additionally, recognized startups in India have generated over 16.6 lakh direct jobs across more than 55 diverse industries, according to government reports. The IT sector led with the highest direct job creation tallying 2,04,119, followed by healthcare and life sciences with 1,47,639, and professional and commercial services with 94,060, as shared by Piyush Goyal, Union Minister of Commerce and Industry, in a formal response in the Rajya Sabha.
India is presently home to more than 1,46,000 DPIIT-recognized startups and boasts over 100 unicorns.
