Startup Funding Surges 2.3x to $357 Million This Week
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Synopsis
This week, India's startup scene experienced a significant funding increase, with investments reaching approximately $357.29 million across 30 deals, marking a 2.3 times rise compared to the previous week. Minister Piyush Goyal emphasized startups' role in driving India's economic growth towards becoming a top global economy by 2027.
Key Takeaways
- Investments increased to $357.29 million across 30 deals.
- Growth-stage deals included Spinny with $131 million.
- Seed funding was the most prominent category.
- Bengaluru led with 13 deals.
- Healthtech was the top funded sector.
New Delhi, April 6 (NationPress) India’s startup ecosystem experienced a remarkable funding resurgence this week, with total investments increasing by over 2.3 times to approximately $357.29 million across 30 transactions, in contrast to $152.49 million raised by 23 startups the previous week.
This increase demonstrates growing investor confidence in India’s innovation-led growth narrative, particularly after Union Commerce and Industry Minister Piyush Goyal recently acknowledged startups as pivotal drivers in the nation’s ambition to become the third-largest global economy by 2027.
Out of the total this week, six were growth-stage deals and 21 were early-stage. Three startups secured funding without revealing the amounts.
Among the top growth-stage deals, the used car platform Spinny led with a substantial $131 million investment.
It was followed by Chef Robotics, which raised $43 million, and travel fintech Scapia, which secured $40 million in a Series B round led by Peak XV Partners.
Other significant players include Infinity Fincorp, Pratilipi, and Tonbo Imaging. In the early-stage funding sector, clean energy startup Aerem topped the list with an impressive $11.7 million raise.
Additional notable mentions include RapidClaims, Sweet Karam Coffee, The Bear House, Further AI, and CollegeDekho, which also attracted considerable capital.
The weekly average funding over the past eight weeks now stands at $271.16 million across approximately 25 deals.
Bengaluru continued to be the leading hub with 13 deals, followed by Delhi-NCR, Mumbai, Chennai, and Indore. In terms of sectors, healthtech emerged as the most funded vertical with five deals, with foodtech and e-commerce close behind.
Seed funding dominated this week’s rounds with 10 deals, followed by Series A, Series D, and debt rounds.
At the ‘Startup Mahakumbh’ event earlier this week, Minister Goyal highlighted the significance of startups and innovation in achieving the vision of ‘Viksit Bharat 2047’.
“Currently the world's fifth-largest economy, India is projected to become the fourth-largest by the end of 2025 and the third-largest economy by 2027 -- surpassing both Japan and Germany,” Goyal stated on April 3, attributing this growth to the thriving startup ecosystem.
