In the latest funding round, 30 Indian startups received a collective funding of $287 million, split between six growth-stage and 20 early-stage deals. Notably, details for one growth and three early-stage startups remained undisclosed.
Comparatively, the first week of this month saw 27 Indian startups securing around $307.8 million funding, maintaining a consistent pace of funding activity. Delhi-NCR-based startups led the funding race with 11 deals, closely followed by Bengaluru with 10 deals.
Among the noteworthy investments, B2B SaaS fintech firm Perfios became India’s second unicorn of 2024, securing $80 million from Teachers’ Venture Growth (TVG). Lithium-ion battery pack manufacturer Lohum received $54 million in Series-B funding, while healthtech startup Sugar.fit raised an additional $5 million in Series A funding, totaling $16 million.
AI-driven dermatology platform Cureskin and smart metering company Kimbal Technologies also secured significant funding rounds of $20 million and $5 million, respectively. These investments reflect the continued growth and potential of India’s startup ecosystem.
Moreover, the government has introduced various initiatives and policies to support startups, providing them with easier access to funding, tax benefits, and regulatory support. Furthermore, the presence of a robust ecosystem comprising venture capitalists, angel investors, and accelerators fosters a conducive environment for startups to thrive and attract investment. Overall, these factors contribute to making India an attractive destination for startup funding.
