Synopsis
This week, 22 Indian startups successfully raised over $184 million in funding, showcasing a mix of early and growth-stage investments. Bengaluru led the funding scene with 12 deals, while AI startups dominated the segment.Key Takeaways
- 22 startups raised over $184 million.
- Bengaluru secured 12 funding deals.
- AI startups led with 5 deals.
- Seed funding was the most prominent with 6 deals.
- Notable acquisitions occurred in fintech and energy sectors.
New Delhi, Feb 22 (NationPress) This week, a total of 22 Indian startups secured over $184 million in funding, comprising 10 deals in the growth stage and 12 in the early stage.
Investor interest in early-stage startups was evident as they raised approximately $33.4 million.
Growth-stage funding featured significant contributions, with Waterfield Advisory obtaining $18 million in a new round led by Jungle Ventures, and Spyne, a SaaS company, garnering $16 million.
Other notable startups receiving financial backing included The Whole Truth, a clean-label health food brand, Dogsee Chew, a pet care brand, Rare Rabbit, a fashion brand, Credit Fair, an NBFC, Curefoods, a foodtech company, and Solitario Diamonds, a jewelry brand.
Singulr AI, an enterprise AI startup, led the funding landscape with a $10 million seed round, followed closely by Ikonz Studios, an AI firm, Probus, specializing in IoT and data analytics, Swish Club, a Devices-as-a-Service platform, and OneTab AI, a workplace SaaS startup.
Additionally, Lurny, a content creation and sharing platform, secured funds, though the amount remains undisclosed.
Bengaluru emerged as the leading city for startup funding, with 12 deals, trailed by Mumbai, Pune, and other cities.
In terms of segments, AI startups led the week with five deals, while foodtech followed with three. Investments were also made in fintech, e-commerce, SaaS, and various other sectors.
Seed funding was the most prominent, encompassing six deals, succeeded by Series A, pre-Series A, Series G, and other rounds.
Over the past eight weeks, the average funding for startups has hovered around $308.3 million, with 26 deals per week, according to industry data.
In addition to funding, mergers and acquisitions garnered attention. Atlys, a visa processing platform, acquired the UK subsidiary of Artionis, a visa services company, to boost its international expansion.
PayRange, a fintech startup, acquired Turns, a vertical SaaS startup in the laundry sector, for an undisclosed sum.
Furthermore, Yuma Energy purchased Grinntech, based in Chennai, to enhance its battery technology and manufacturing capabilities.
