New Delhi: India’s startup ecosystem saw a massive funding inflow this week, with over $628.24 million raised by 36 startups, marking a massive 174.5 percent increase over last week. The funding push was led by education technology company Physics Wallah (PW), which raised $210 billion in its Series B funding round and raised the company’s valuation to $2.8 billion.
The round was led by Hornbill Capital, with significant participation from Lightspeed Venture Partners and existing investors GSV and WestBridge. During the week, 14 growth-stage deals and 17 early-stage deals were closed amid the positive investment environment in the country.
According to a report by Entrackr, SaaS-based digital adoption solutions provider Whatfix has raised $100 million. However, the company is yet to make the funding public. While M2P API infrastructure platform Fintech has secured $50 million, omnichannel diagnostic services provider Redcliffe has raised $42 million, and digital infrastructure company iBUS has secured $34 million.
Fleet management company Everest Fleet has successfully raised $30 million as part of its ongoing $50 million Series C funding round to scale up its operations and expand its fleet of clean energy vehicles, including CNG and electric vehicles (EVs).
Vahan.ai, an AI-powered recruitment platform, announced its $10 million Series B funding led by Khosla Ventures. The funds raised will be used to develop AI-powered recruitment technology to support eight major Indian languages. Bengaluru-based startups led with 12 deals this week, followed by Delhi-NCR, Mumbai, Chennai, and Hyderabad.
Last week, 24 domestic startups raised over $229 million in funding, including six growth-stage deals worth $182.65 million. Thirteen early-stage deals worth $46.14 million were recorded during the week. The average funding over the past eight weeks is around $393 million, with 28 deals per week.
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