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Startups raise over $138 mn this week
The Indian startup ecosystem raised more than $138 million this week, including three growth-stage fundings and 20 early-stage deals.
New Delhi: The Indian startup ecosystem raised more than $138 million this week, including three growth-stage fundings and 20 early-stage deals. At least 25 domestic startups raised nearly $138.7 million in funding.
Fintech and deeptech startups led the rounds, with $50 million funding in two deals.
Fintech startup Easy Home Finance raised $35 million in its Series B funding round. The round was led by Claypond Capital and Sumitomo Mitsui Banking Corporation’s Asia Rising Fund. "This funding will propel our efforts to make home financing truly digital, efficient, and accessible. By leveraging advanced data insights, our in-house technology suite not only simplifies the loan process but also accelerates the journey from loan origination to homeownership," Easy Home Finance Ltd MD Rohit Chokhani said.
MODIFI, a B2B Buy Now Pay Later (BNPL) platform secured $15 million led by SMBC Asia Rising Fund with participation from existing investors Maersk, IntesaSanPaolo, Heliad, and other top-tier global investors.
Deeptech robotics startup, CynLr (Cybernetics Laboratory), raised $10 million in a fresh round of Series A funding, led by Pavestone and Athera Venture Partners (formerly Inventus India), bringing its total funding to $15.2 million. Spacetech startup GalaxEye, successfully closed its Series A funding, securing $10 million. MountTech Growth Fund–Kavachh was the strategic investor.
Logistics unicorn BlackBuck has filed its red herring prospectus (RHP) with the Registrar of Companies (RoC). The company aims to raise Rs 1,114.72 crore via public listing.
Meanwhile, Indian startups reached $12.2 billion in funding in the first 10 months this year, crossing the total amount raised throughout 2023 (about $11 billion), with two months to go. Homegrown startups surpassed $1 billion in funding again across 119 deals in the month of October.
