Oyo, a hospitality and travel-tech company, led the funding ecosystem by raising ₹1,457 crore. In July, Indian startups secured $1.03 billion in funding, partly due to the government’s removal of the angel tax in the Union Budget 2024-25, which had previously affected foreign investors. This week, Indian startups raised over $395 million across at least 20 deals, marking a significant 350% increase from the $113 million raised last week in 22 deals.
Oyo raised nearly $175 million in a Series G round from investors including InCred Wealth, Patient Capital, J&A Partners, the family office of Mankind Pharma promoters, and ASK Financial Holdings. Wealth and asset management firm Neo raised ₹400 crore (approximately $48 million) in a Series B round led by MUFG Bank and New York-based Euclidean Capital LLC. EV company Ather Energy secured $71 million, led by the National Investment and Infrastructure Fund (NIIF), reaching a valuation of $1.3 billion and achieving unicorn status. In the last three months, Ather Energy has raised over $125 million. Additionally, fintech startup Innoviti raised ₹70 crore ($8.5 million) in a combination of equity and debt, led by Random Walk Solutions with participation from existing investors Bessemer Venture Partners USA, Patni Family Office India, and Alumni Ventures.
In July, Indian startups raised $1.03 billion through 126 deals, including 28 growth or late-stage deals worth $725 million and 72 initial-stage deals worth $311 million. In comparison, June saw Indian startups raising $1.93 billion. The Union Government-recognized startups have created more than 1.55 million direct jobs so far. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized 140,803 entities as startups as of June 30.
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