23 Indian startups secured approximately $137 million in funding this week equipped with a mix of early and growth-stage deals. 5 startups among them kept their transaction details undisclosed. The previous week witnessed 30 startups and raised around $241 million, but of course a significant drop this week.
Digital payments platform Cashfree led the way and raised $53 million in a Series C round and it was led by KRAFTON. Logistics company Shadowfax secured $16.8 million from Mirae Asset, Nokia Growth Partners and Edelweiss. Dialysis service provider Apex Kidney Care raised $9 million from Blue Earth Capital while wellness and hygiene brand Nua secured $4 million. Education-focused NBFC Auxilo raised $5.7 million in debt financing from Motilal Oswal.
13 startups in early-stage deals raised a total of $48.43 million equipped with AI startup TrueFoundry bagging $19 million in Series A funding. Other early-stage startups included Cognida AI, HairOriginals, Astra Security and Dreamfly Innovations. Moreover, startups like COLUXE, Vahan AI and Sisters in Sweat raised funds but did not disclose the amounts.
Bengaluru-based startups dominated with 10 funding deals followed by Delhi-NCR, Mumbai, Pune and Hyderabad. AI and Healthtech startups were the most funded segments and each secured five deals. Fintech followed closely with three deals. Logistics, e-commerce, SaaS and other sectors also bagged a share of the funding.
Startup funding witnessed a notable decline and dropped by 43.15% to $136.93 million compared to the previous week’s $240.85 million. The average funding over the last eight weeks stands at $325.91 million equipped with 25 deals per week on average.
Shadowfax appointed Bijou Kurien, Ruchira Shukla and Pirojshaw Sarkari as independent directors. Livspace promoted its COO Ramakant Sharma to CEO and Delhivery appointed Vani Venkatesh as its Chief Business Officer. Chandi Gaglani was named Head of Aisle Network and Namita Thapar joined Delhivery’s board as a non-executive independent director. Notable departures included Flipkart’s CPTO Jeyandran Venugopal and The Good Glamm Group’s co-founder Priyanka Gill.