24 Indian startups collectively raised more than $229 million this week. It showcased continued momentum in India’s startup ecosystem. The funding round included six growth-stage deals which amounted to $182.65 million equipped with 13 early-stage startups that secured $46.14 million. Bengaluru led the pack with eight deals followed by Delhi-NCR, Mumbai, Hyderabad and Kolkata.
Mobile advertising network software company InMobi spearheaded the funding with $100 million raised in a debt funding round. Fintech lender FlexiLoans focusing on MSMEs secured $35 million and employee healthcare platform Onsurity attracted $21 million. Moreover, spiritual tech startup AppsForBharat raised $18 million.
Other notable deals included consumer lending platform Moneyview that secured $4.65 million and HR tech platform HROne that raised $4 million. E-commerce startups were the top category with five deals followed by fintech, healthtech and cleantech sectors.
Bengaluru continues to dominate the startup segment, but Delhi-NCR, Mumbai and other cities are quickly catching up. The past eight weeks saw funding levels exceeding $331 million with 26 deals each week. It highlights growing interest in the Indian startup scene.
Gaming and sports media company Nazara Technologies took a controlling stake in Moonshine Technology (parent company of PokerBaazi) for Rs 982 crore. Nazara acquired 47.7% of Moonshine for Rs 832 crore through a secondary transaction and plans to invest Rs 150 crore through compulsory convertible preference shares.
E-commerce enabler GoKwik announced its acquisition of a global returns management app Return Prime. The acquisition aims to strengthen its capabilities in handling the e-commerce returns process.
Meanwhile, global venture capital firm Accel launched a pre-seed scaling programme to offer selected startups of up to $1 million in funding along with perks worth more than $5 million from its network partners.
Indian startups raised $348 million across 19 deals last week with ride-sharing platform Rapido leading the way by securing $200 million in Series E funding.
