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.
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.
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.
Also Read: Indian Markets Surge After US Fed’s Surprise Rate Cut
Authorities have imposed a complete ban on the operation of drones and UAVs over and…
Pakistan Army Chief General Syed Asim Munir reignited controversy on Saturday by invoking the two-nation…
Pope Francis, the first Latin American pontiff, was laid to rest in a humble ceremony…
The Bihar police have taken swift action in arresting a man accused of raping a…
PM Modi distributed 51,236 appointment letters to newly-recruited candidates in central government departments and organisations…
The Indian Embassy in Berlin organised a solemn memorial service to honour the victims of…