In a remarkable week for India’s startup scene, 22 companies raised over $184 million, highlighting strong investor interest across early and growth-stage ventures.

In a significant week for the Indian startup ecosystem, at least 22 startups secured over $184 million in funding, encompassing both early-stage and growth-stage investments. This surge includes 10 deals in growth-stage companies and 12 in early-stage startups, showcasing the continued investor interest across varying maturity levels of enterprises.

Among the early-stage backs, a total of $33.4 million was raised, indicating a robust appetite for innovative startups. Notable growth-stage investments included $18 million raised by the wealth advisory firm Waterfield Advisory, which was led by Jungle Ventures. In a similar vein, SaaS company Spyne successfully secured $16 million in funding.

Several other startups marked their presence in this funding round, including The Whole Truth, a clean-label health food brand, pet care company Dogsee Chew, fashion brand Rare Rabbit, non-banking financial company (NBFC) Credit Fair, foodtech entity Curefoods, and the jewellery brand Solitario Diamonds. Each of these companies has garnered attention for their distinctive market propositions.

Enterprise AI startup Singulr AI emerged as a frontrunner in funding, leading with a substantial $10 million seed round. Following closely were other companies, including AI firm Ikonz Studios, IoT and data analytics startup Probus, the Devices-as-a-Service (DaaS) platform Swish Club, and workplace SaaS company OneTab AI. Additionally, Lurny, a content creation and sharing platform, raised funds without disclosing specific amounts.

Bengaluru retained its position as the leading city for startup funding, claiming 12 of the total deals, while Mumbai and Pune also saw significant activity. The breakdown of sectors shows that AI startups led in deal numbers with five transactions, foodtech followed with three, while fintech, e-commerce, SaaS, and other sectors also received investments.

Seed funding was particularly prominent this week, with six seed deals, followed by various other rounds including Series A, pre-Series A, and Series G. According to industry data, the average startup funding for the last eight weeks has hovered around $308.3 million, with approximately 26 deals being finalized each week.

In addition to funding activities, mergers and acquisitions were highlighted this week. Atlys, a visa processing platform, made a strategic move by acquiring the UK subsidiary of visa services company Artionis, furthering its international expansion goals. In the fintech space, PayRange acquired Turns, a vertical SaaS startup that caters to the laundry market, though the terms of this transaction remain undisclosed. Yuma Energy also made headlines by acquiring Chennai-based Grinntech, aiming to enhance its battery technology and manufacturing capabilities.

This wave of funding and acquisitions reinforces the dynamic nature of the Indian startup landscape, attracting diverse investments that span various sectors and growth stages.

Source: Noah Wire Services