39 Indian Startups Secure Over $387 Million This Week Amid Volatility
(MENAFN- IANS) New Delhi, June 1 (IANS) Funding in the Indian startup ecosystem continued unabated this week despite volatility in stock markets over weak global cues.
At least 39 startups in the country secured more than $387 million, which included 13 growth-stage deals and 20 early-stage deals.
Within the growth-stage deals, 13 startups raised $309.7 million in funding, reports Entrackr.
Bengaluru-based startups led the tally with 15 deals, followed by Delhi-NCR, Mumbai and Hyderabad.
Deep-tech startup SEDEMAC raised $100 million which will be used to build a new manufacturing plant and expand its presence in India, the US and the EU. SEDEMAC builds auto parts and battery management systems.
While Infra raised $50 million from MARS Unicorn Fund, electric vehicle company Ather Energy secured $34.5 million in debt and equity funding.
Founded in 2016, Infra sells construction materials, infrastructure goods and technical equipment.
Another EV company Euler Motors closed its Series C funding round, securing $23.9 million.
Zypp Electric also raised $15 million this week to expand the company's fleet from 21,000 to 2,00,000 electric scooters.
Last week, 24 Indian startups raised $444 million in funding, including five growth-stage deals.
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