India Sees Over 226 Pc Surge In Startup Funding At $596 Mn This Week

(MENAFN- IANS) New Delhi, Nov 23 (IANS) The Indian startup ecosystem bounced back this week in terms of raising funds, clocking more than 226 per cent surge with securing around $596 million in total.

Last week, at least 24 Indian startups secured nearly $182.62 million, led by three growth-stage deals and 19 early-stage deals.

Between November 18-23, at least 23 startups raised $596 million which included six growth-stage deals and 15 early-stage deals.

Quick-commerce platform Zepto raised $350 million in a round led by Motilal Oswal's private wealth division. With this, investors have infused more than $1.3 billion in Zepto in the past five months, as quick-commerce growth surges in the country.

Omnichannel nutrition platform HealthKart secured $153 million led by ChrysCapital and Motilal Oswal Alternates. Neo Group and HealthKart's existing investor, A91 Partners also participated in the round. It also announced its first-ever employee ESOP buyback plan worth Rs 55 crore ($6.5 million).

Zopper, India's leading insurtech platform, raised $25 million in a Series D funding round, co-led by Elevation Capital and Dharana Capital. The round also saw participation from existing investor Blume Ventures. Zopper is also backed by Creaegis, Bessemer Venture Partners, and ICICI Venture.

Doodhvale Farms, an innovator in the premium dairy sector, announced the successful closure of a $3 million funding round. The round was led by Atomic Capital, with Singularity Early Opportunities Fund joining as a major co-investor.

Bengaluru-based startups led with 10 deals, followed by Delhi-NCR, Mumbai, Chennai, Pune, and Hyderabad.

The average funding in the last eight weeks stands at around $266.77 million with 25 deals per week.

Till October this year, Indian startups have raised nearly $10 billion in funding and were on track to surpass the total funding of $10.5 billion raised throughout last year.

MENAFN23112024000231011071ID1108917627