Investment and acquisitions in Indian startups during the current week.

This week, a total of 17 Indian startups secured funding amounting to $125.13 million. These funding rounds comprised seven growth-stage deals and nine early-stage deals, with one early-stage startup not disclosing the amount raised. In comparison, the previous week witnessed approximately $447 million raised by 23 startups, including two undisclosed deals.

Among the growth-stage deals this week, seven startups collectively raised $103.43 million. Leading the pack was the vernacular social media platform Share Chat, securing $49 million in debt funding. Following closely were fintech firms Aye Finance, Sindhu Microcredit, and KreditBee, raising $16.5 million, $14.5 million, and $9.4 million, respectively. Additionally, AdTech startup Adamo, MobiKwik, which is preparing for an IPO, and cybersecurity startup TAC Security also received funding.

Furthermore, nine early-stage startups garnered $22.71 million in funding during the week. Notable mentions include sustainable packaging start up Bam brew, branded franchised retail chain Super, AI security and risk management startup Sydells, crypto exchange Nomex Global, and prophecy firm Aerial. This list also features logistics solutions provider Just Deliveries, aggrotech startup Elevate Foods, AI-powered deep tech startup Adakai, and B2B footwear marketplace Kariba Mandi. EdTech startup Aviation Aerospace chose not to disclose its funding amount.

In terms of geographical distribution, Bengaluru-based startups dominated with five deals, followed by startups from Delhi-NCR, Mumbai, Hyderabad, Patna, Kolkata, and Agra.

Seed funding deals led the charts this week with four deals, followed by debt deals, which constituted around 57% of the total funding. Pre-Series A and Series A rounds also contributed to the funding landscape.

However, there was a significant decline in startup funding this week compared to the previous week, dropping by 71% to $125.13 million. On average, over the past eight weeks, approximately $259 million has been raised per week across 27 deals.

Additionally, this week saw Praveen Sharma, senior vice president of business at Paytm's parent entity One 97 Communications, resign after over four years. Meanwhile, Alterio Capital, a Mumbai-headquartered venture debt firm, announced the final close of its third fund at approximately $186 million. Sadly, investment tech startup Goldner decided to shut down exactly one year after its establishment due to various challenges.

In regulatory news, the Competition Commission of India (CCI) approved the subscription to CCPS B of API Holding by Ranjan Pay's MEMG (Manipal Education and Medical Group) and 360 One. ICICI Securities reiterated a 'BUY' rating on Zomato, with a raised price target of Rs 300 per share, citing the company's sustained growth trajectory and improved profitability metrics. Additionally, Innovate, a digital payments solutions company, secured an online payment aggregator (PA) license from the Reserve Bank of India (RBI), along with Concerto Software and Systems. This brings the total number of entities receiving PA licenses in 2024 to 13, with notable players including Infibeam Avenues and Amazon Pay.