Indian startups raise $102.93 million in funding over the week

Mumbai, May 4 (IANS) Indian startups raised approximately $102.93 million across 25 deals, with strong contributions from early-stage and growth-stage companies this week.

Bengaluru and Delhi-NCR-based startups led the funding race, with seven deals each, followed by Mumbai and Chennai.

The funding came from various sectors, including cleantech, cybersecurity, edtech, and healthtech, signalling a continued interest in innovation and technology in India.

Healthtech startups took the top spot with four deals, followed closely by e-commerce and foodtech companies, with each securing three deals.

Other sectors, such as media and entertainment, proptech, edtech, Software as a Service (SaaS), and more, also saw multiple funding rounds.

Leading the charge in growth-stage funding was Metafin, a cleantech-focused NBFC, which successfully raised $10 million in its Series A round.

Other growth-stage startups that attracted attention include QNu Labs, a cybersecurity firm, which secured $7 million, and Kaleidofin, a neobanking startup, which garnered $5 million.

Additionally, CollegeDekho, an edtech platform, and Sadhav Offshore, a marine services company, also raised significant funding.

In early-stage funding, Kult, a beauty tech and discovery platform, stood out with a $20 million raise, making it the largest early-stage funding deal of the week.

Fuze, a SaaS startup, followed with a $12.2 million round. Other notable early-stage startups that secured funding include HexaHealth, a healthtech platform, and Anveshan, a foodtech company.

Also among the funding recipients were Stimuler, an AI-driven English learning platform, Mugafi, a content creation platform, and others.

Additionally, ekincare, a healthtech startup, and Jamm, an offline social networking platform, raised undisclosed amounts.

These deals reflect the strong investor interest across various sectors in India's growing startup ecosystem.

Meanwhile, in the previous week, 22 Indian startups secured approximately $112.35 million in funding. The deals included six growth-stage investments and 12 early-stage rounds, while six startups chose not to disclose the details of their funding.

--IANS

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