From June 10 to June 15, 2024, Indian startups raised over $312 million from investors, showcasing a strong interest in diverse sectors. This impressive funding came from 27 startups across various industries, including tech, healthcare, fintech, consumer electronics, electric vehicles, and more.
Top Funding Deals
The leading deal was Battery Smart, a Gurugram-based startup in the battery tech sector, which raised $65 million in a Series B funding round. Of this, $45 million (Rs 376 crore) was primary funding, and the remaining was secondary.
Another significant deal was for Sabine Hospital and Research Centre, which secured $50 million from CX Partners and other investors. Solar power solutions provider Candi Solar, consumer electronics startup Indkal Technologies, and skincare brand Foxtale collectively raised $92 million. Candi Solar received $38 million, Indkal Technologies got $36 million, and Foxtale secured $18 million.
Notable Startups
Several emerging Indian startups also received notable funding in June 2024:
- Healthtech startup C3 Med-Tech raised $240,000.
- Rental marketplace Hour4u secured $420,000.
- AI startup rampp.ai raised $500,000 in an angel round.
- Creme Castle obtained $700,000 in a seed round.
- Sova Health, a full-stack gut health startup, raised $1 million.
- DeFi startup Qiro Finance received $1.2 million in a pre-seed round.
- Fin+Insurtech startup Finsall raised $1.8 million in a bridge round.
- Consumer brand Palette Brands managed to raise $2 million in a pre-Series A round.
- Dronetech startup Skye Air and AI and robotics startup Swaayatt Robots both raised $4 million.
- JCB Salons India raised $4.78 million.
- B2B home decor brand Trampoline and EV startup Indigrid Technology each raised $5 million.
- NBFC firm Artha Finance closed a Series B round with $5.98 million.
- Ice cream brand Hocco, workspace startup Smartworks, and beauty startup RENEE Cosmetics each raised $12 million.
- Manufacturing startup Ethereal Machines raised $13 million in a Series A round.
Debt Funding
Fintech firm CredAble raised Rs 30 crore (about $3.59 million) in debt funding from the Small Industries Development Bank of India (SIDBI). Agri firm Samunnati secured Rs 133 crore (about $15.941 million) in debt from Blue Earth Capital to support small farmers’ climate adaptation and sustainability projects.
Mergers and Acquisitions
Strategic mergers and acquisitions also occurred during this period. NODWIN Gaming International Pte Ltd, a subsidiary of Nazara Technologies, acquired Ninja Global FZCO for $3.57 million in a cash and stock deal. 360 One Wealth and Asset Management, formerly IIFL Wealth, agreed to acquire wealth tech platform ET Money for Rs 365.8 crore.
This June 2024 Indian startups funding surge highlights the growing investor confidence in Indian startups and their diverse sectors.
