India’s startup ecosystem has seen a notable uptick in funding this week, with 39 startups collectively raising approximately $449 million across 29 deals. This represents an increase of more than 300 percent from the $135 million raised the previous week.
This week’s funding outlook included 12 growth-stage deals and 16 early-stage investments, with seed funding totaling $26.5 million, a significant 48.8 percent increase from 17 .8 million dollars last week. This increase indicates renewed momentum in investment activity within the startup sector.
Among the financing successes is the educational technology startup Eruditus, which obtained $150 million in a round led by TPG’s The Rise Fund. The funding round also saw participation from prominent investors such as 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 its parent company, Emeritus.
Omnichannel beauty platform Purplle announced an extension of its latest funding round, raising an additional Rs 500 million, bringing the total to Rs 1.5 billion (around $180 million). This round was led by Abu Dhabi Investment Authority (ADIA) and included contributions from existing investors such as Premji Invest and Blume Ventures.
Additionally, GIVA Jewelery successfully closed its upscaled Series B funding round, securing Rs 255 crore from high-profile investors at an increased valuation. This round was led by Premji Invest, EPIQ Capital and Edelweiss Discover Fund, together with GIVA senior management.
In the software as a service (SaaS) space, a startup raised $30 million in a funding round led by Eight Roads Ventures, with participation from Elevation Capital and 3one4 Capital.
The fintech sector in India also showed solid growth, securing $778 million in financing during the July-September period, positioning India as the second-largest market globally for fintech financing in the third quarter, after the United States. This marks a 66 percent increase from the $471 million raised in the third quarter of last year and an impressive 165 percent increase compared to the $293 million raised in the second quarter of 2023, according to a report from Tracxn, a SaaS-based market intelligence platform.
(With agency contributions.)
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