Indian Startups Raise $202 Million, Over 100 Pc Jump From Last Week

(MENAFN- IANS) New Delhi, June 15 (IANS) The fundraising by the Indian startup ecosystem reclaimed its upward trend this week with nearly $202 billion via 21 deals.

This is a massive over 100 per cent rise from last week when the startups secured about $98 million in 10 deals.

Cleantech startups maintained the lead, with EV startup Battery Smart raising $65 million led by LeapFrog Investments.

The equity round saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment.

Direct-to-consumer (D2C) skincare firm Foxtale raised $18 million in a round led by Singapore-based Panthera Growth Partners.

Another beauty and makeup brand, Renee Cosmetics, raised Rs 100 crore (around $12 million) in a Series B funding round led by existing investors Evolvence India and Edelweiss Group. The current funds were raised at a valuation of Rs 1,200-1,400 crore.

In another major news, quick grocery delivery platform Zepto is set to raise nearly $650 million from existing and new investors. According to sources, the funding will take the valuation of Blinkit's closest rival to around $3.5 billion.

Zepto recently said that it plans to go public in the next 2-3 years.



Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.