New Delhi– India’s startup ecosystem experienced a significant rebound this week, with funding soaring to approximately $357.29 million across 30 deals. This marks an increase of over 2.3 times compared to the previous week, when startups raised $152.49 million through 23 deals.
The surge in investments highlights the growing confidence investors have in India’s startup landscape, especially in light of recent remarks by Union Commerce and Industry Minister Piyush Goyal. Goyal had recently highlighted the importance of startups in India’s trajectory towards becoming the world’s third-largest economy by 2027. His comments underscored the pivotal role of innovation-driven growth in the country’s economic future.
The week’s funding breakdown reveals that six deals were in the growth-stage category, while 21 were early-stage investments. Additionally, three startups raised capital without disclosing specific funding amounts.
Among the standout deals, used car platform Spinny led the pack with a significant $131 million infusion. Following closely behind, Chef Robotics raised $43 million, while travel fintech company Scapia secured $40 million in a Series B round led by Peak XV Partners.
Other notable names that attracted substantial investment this week include Infinity Fincorp, Pratilipi, and Tonbo Imaging. Meanwhile, clean energy startup Aerem raised $11.7 million, topping the early-stage funding list. Other early-stage startups like RapidClaims, Sweet Karam Coffee, The Bear House, Further AI, and CollegeDekho also received notable capital injections.
Over the past eight weeks, the average weekly funding across 25 deals stands at $271.16 million, reflecting a consistent upward trend in India’s startup ecosystem.
Bengaluru continues to be the leading hub for investments, with 13 deals reported this week. Delhi-NCR, Mumbai, Chennai, and Indore followed as major contributors to the funding surge. Sector-wise, healthtech emerged as the most funded vertical, securing five deals, followed by foodtech and e-commerce.
The funding rounds this week were predominantly led by seed funding, with 10 deals, followed by Series A, Series D, and debt rounds.
During the ‘Startup Mahakumbh’ event earlier this week, Minister Goyal stressed the importance of startups in shaping India’s future. “Currently the world’s fifth-largest economy, India is on track to become the fourth-largest by the end of 2025 and the third-largest economy by 2027 – surpassing Japan and Germany,” Goyal remarked. He credited the country’s growing startup ecosystem as a crucial driver of this economic growth.
With such robust funding activity, India’s startup ecosystem appears poised to continue its upward trajectory, making significant strides toward achieving its vision of becoming a global economic powerhouse in the coming years. (Source: IANS)
