Indian startups raise $202 million, over 100 pc jump from last week
The Indian startup ecosystem saw a return and growth of an activity that had stopped in fundraising this week, gathering approximately $202 billion across 21 deals. This marks a significant increase of about 100% compared to last week, when startups secured about $98 million through 10 deals.
Leading the charge were cleantech startups, for example EV startup Battery Smart, which raised $65 million with LeapFrog Investments taking the lead. The equity touching the bars attracted new and existing investors such as MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures, and British International Investment.
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In the consumer sector, skincare firm Foxtale secured $18 million in funding led by Panthera Growth Partners based in Singapore. Meanwhile, Renee Cosmetics, a beauty and makeup brand, raised Rs 100 crore (approximately $12 million) in a Series B round led by Evolvence India and Edelweiss Group, valuing the company at Rs 1,200-1,400 crore.
In a significant development, Zepto, a quick grocery delivery platform, is preparing to raise nearly $650 million from both existing and new investors. This funding round also expect Blinkit to increase rival’s valuation to approximately $3.5 billion. Zepto has also announced plans to go public within the next 2-3 years.
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