Jaipriya K S,
Content Writer, siliconindia

Marking a momentous milestone for the startup ecosystem of India, August 2024 has reflected an outstanding surge in overall activities such as funding, investments, IPO and so on. The month registered a dynamic shift in the funding landscape of Indian startup ecosystem by securing significant investments, robust interests from investors and venture capitalists. In spite of global economic uncertainties, Indian startup landscape established strong adaptability and resilience. So, let’s delve into the report to witness the details of August month’s funding activities, active investments and top deals happened in Startup ecosystem of India.

Top Funding deals:

In its Series A round, Scimplify, a platform for sourcing & manufacturing specialty chemicals, raised approximately $7 million from new and existing investors.

In its extended Series B funding round, which was led by Fireside and Vertex Ventures, the beauty and Personal Care D2C Company Pilgrim raised Rs.75 crore, or approximately $9 million. AGRIM, a B2B platform for agri-inputs, has raised $17.3 million in Series B funding led by Asia Impact, with participation from existing investors Kalaari, India Quotient, Omnivore, and Accion Venture Lab.

Country Delight, a dairy and daily essentials brand, has raised Rs.70 crore funding, (approximately $8.45 million), from Alteria Capital. Agrizy, a B2B agri-processing platform, has raised $9.8 million (approximately Rs.82 crore) in its Series A round of funding co-led by Accion and Omnivore, with participation from new investors Capria Ventures, Thai Wah Ventures, while existing investor Ankur Capital has doubled down.

Impact-driven and digital healthcare startup Karma Primary Healthcare successfully secured Rs.11 crore (approximately $1.3 million) in Series A Funding round directed by UBS Optimus Foundation.

The significant funding round also saw participation from 1Crowd and other financial backers.

Neuron Energy, a Mumbai-based EV battery manufacturer, has successfully secured Rs.20 crore in a Series A funding round, with investments led by the Chona Family and Capri Global Family Office.

BlueBinaries, an engineering and technology services provider focused on the mobility sector, has secured Rs. 60 crore in funding from the multi-asset investment firm Anicut Capital.

Neo, a wealth and asset management company has raised Rs.400 crore or $48 million in Series B funding round directed by MUFG Bank and New York-based Euclidean Capital LLC. After a certain gap of 20 months, Even Healthcare - a healthcare company based in Bengaluru - has secured fresh funding amounting to Rs.169 crore which is equivalent to around $20 million, which was led by Khosla Ventures.

Zoff, a startup providing premium Indian spices has successfully secured Rs.40 crore ($4.8 million) from JM Financial Private Equity via JM Financial India Growth Fund III. Under the schemes of the Government of India's Fund of Funds for Startups and the Uttar Pradesh Government's UP Startup Fund, Aroa Venture Partners has received a capital commitment of Rs.40 crore (4.8 million).

Our home-grown startups successfully secured total funding of $1.6 billion across 121 deals showing slighter surge to $1 billion in July. Following the month of June, August has become the second highest funding amount and third highest in the last 12 months.

Also, according to the Y-o-Y (year-over-year) basis, August positioned at the top rank for total raised funds. Over the first eight months of 2024, Startups in India have accounted $9.6 billion approximately. Notably, the most funded sectors are Hospitality, renewable energy and fintech.

Over the month, Alteria Capital, Chiratae Ventures, Inflection Point Ventures, Kalaari Capital have been witnessed with active participation. The highest funding deals of the month are DMI Finance - 2,798 crore, Fourth Partner Energy – Rs.2, 306 crore and OYO Rooms – Rs.1, 457 crore.

The strategic investments happened in the entire month were not focused on capital expansion alone. Investors also poured their support to the startups in the key areas such as talent acquisition, technology growth and boosting market presence.