New Delhi: Funding momentum picked up for India’s startup ecosystem this week, with 39 startups raising around $449 million across 29 deals, a jump of more than 300 percent from the $135 million raised in the week. pass.
This week there were 12 deals in the growth stage and 16 in the early stage. Seed funding stood at $26.5 million, an increase of 48.8 percent from $17.8 million the previous week, meaning investment activity in the startup ecosystem gained momentum .
Edtech startup Eruditus raised $150 million led by TPG’s The Rise Fund, with participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and Chan Zuckerberg Initiative.
“With this investment, we are excited to continue growing and innovating to meet market demand,” said Ashwin Damera, CEO of Eruditus and Emeritus (the parent company). Omnichannel beauty platform Purplle expanded its latest funding round by Rs 500 million to finally close at Rs 1,500 million (around $180 million). The overall round was led by the Abu Dhabi Investment Authority (ADIA) and saw participation from existing investors such as Premji Invest and Blume Ventures.
GIVA Jewelery announced the successful closing of its upscaled Series B funding round, raising Rs 255 crore from estimated investors at a higher valuation, led by Premji Invest, EPIQ Capital, Edelweiss Discover Fund and GIVA senior management.
The software-as-a-service (SaaS) startup raised $30 million in a round led by Eight Roads Ventures, which also included participation from Elevation Capital and 3one4 Capital. Meanwhile, the Indian fintech startup ecosystem raised $778 million in funding in the July-September period, reaching second place globally after the United States in terms of fintech funding raised in the third quarter.
This also marks a 66 percent increase from the $471 million raised in the third quarter of last year and an impressive 165 percent increase from the $293 million raised in the second quarter of this year, according to the report from Tracxn, a SaaS-based market intelligence platform.
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