Over 40 early and growth-stage startups collectively raised more than $900 million in funds last week.
Growth-stage deals
Nine growth-stage startups secured $150.84 million in funding. Edtech company upGrad led with $35 million in debt funding. SaaS startup Rocketlane, co-working solutions provider Smartworks, D2C apparel brand Rare Rabbit, and online gold loan platform Rupeek followed with $24 million, $20.24 million, $18 million, and $15 million, respectively. Additionally, healthcare startup Doceree, D2C jewelry brand Bluestone, EV startup Matter, and consulting firm NovaVente also raised funds, while IT services provider Celebal Technologies received an undisclosed amount from BlackSoil.
Early-stage deals
Fifteen early-stage startups raised a total of $60.13 million. B2B apparel sourcing platform Zyod led the list, followed by AI health startup Cloudphysician, D2C dairy brand Sid’s Farm, agritech firm Two Brothers Organic Farms, and fabless semiconductor startup Morphing Machines. Other notable startups include credit card bill payment management platform CheQ, revenue-as-a-service platform Nitro Commerce, and hazardous waste management platform Neo San.
City and segment-wise deals
Bengaluru-based startups led with 10 deals, followed by Delhi-NCR, Jaipur, Mumbai, and Ahmedabad. Fintech startups topped the segment list with 4 deals, followed by e-commerce, manufacturing, agritech, and healthtech startups.
Series-wise deals
Seed funding led with 7 deals, followed by 6 Series A and 4 pre-Series A deals. Debt and Series B funding saw 3 deals each, with Series F and Series D also making appearances.
Week-on-week funding trend
Startup funding dropped 76.73% to $211 million this week, compared to $906 million the previous week. The eight-week average funding is around $404 million with 28 deals per week.
Fund launches
BizDateUp is allocating ₹40 crore to support women entrepreneurs in India, starting July 1st. The initiative includes funding based on business plans, financial projections, and impact potential, along with mentorship and industry connections.
Key hirings and departures
Equirus appointed Krishna Jha as a venture partner for their InnovateX Fund, and Mela Ventures appointed R Kalyan Sundar as Head of Finance and Legal. Zoomcar co-founder Greg Moran was terminated as CEO and is required to resign from the board. General Atlantic’s Sandeep Naik will transition to an advisory role, with responsibilities divided between Shantanu Rastogi in India and Neal Kok in Southeast Asia.
M&A
London-based private equity firm Finnest acquired a 53.75% stake in Bengaluru-based cloud kitchen startup Kitchens@, making it a subsidiary of Finnest Holdings. Nodwin Gaming’s Singapore-based subsidiary will increase its stake in Berlin-based Freaks 4U to 100% through a share swap deal, valued at Rs 271 crore ($32.6 million).
Potential deals
Logistics firm Ecom Express is set to raise Rs 1,424 crore (approximately $172 million) from existing investors via a rights issue, marking its first investment round this year.
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