The Indian startup ecosystem saw a significant boost in funding this week, with 36 startups raising over $628.24 million. This marks a 174.5% surge compared to last week’s figures. Leading the funding wave was edtech company Physics Wallah (PW), which secured $210 million in its Series B round, pushing its valuation to $2.8 billion. The round was led by Hornbill Capital, with participation from Lightspeed Venture Partners, GSV, and WestBridge.
The week witnessed 14 growth-stage deals and 17 early-stage deals, reflecting positive investor sentiment in India.
Key Deals of the Week
According to an Entrackr report, SaaS company Whatfix raised $100 million, although the deal is yet to be made public. API infrastructure platform M2P Fintech secured $50 million, and omnichannel diagnostics provider Redcliffe raised $42 million. Digital infrastructure company iBUS attracted $34 million.
Everest Fleet raised $30 million in its ongoing Series C round, aimed at expanding its fleet of clean-energy vehicles, including CNG and electric vehicles. AI-powered recruitment platform Vahan.ai secured $10 million in Series B funding, led by Khosla Ventures.
Regional Breakdown of Deals
Bengaluru-based startups led with 12 deals, followed by companies in Delhi-NCR, Mumbai, Chennai, and Hyderabad. In comparison, last week saw 24 startups raise over $229 million, including six growth-stage deals worth $182.65 million.
The average funding in the last eight weeks stands at around $393 million, with about 28 deals per week.
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