Top deals by VCs

The venture capital investments of India achieved nearly $20 billion between the month of January and August – CY2024. Yet it is bit lesser than the corresponding eight-month period of CY2023 which accounted $24 billion.

Notable deals:

A company that deals with quick commerce, Zepto has secured $340 million in a follow-on funding round led by General Catalyst. The round saw participation from other key VCs such as Dragon Fund and Epiq Capital. StepStone Group, Lightspeed, DST and many others. The company stated that it aims to maximize its dark store count to 700 and enter into new markets such as Nasik, Chandigarh, Vizag, & Ahmedabad by 2025.

A post-sales platform based in Mumbai, Servify has lifted Rs.84 crore in Series D funding round. The funding round saw participation from a group of debt and equity venture investments from Innoven Capital, Trifecta and Bajaj Holdings. The company stated that this investment from VCs will be very helpful for them to amplify their services and strengthen their presence in the market.

A popular beauty and personal care D2C brand based in Mumbai, Pilgrim lifted Rs.75 crore in Series B funding round. The funding round was led by Fireside Ventures and Vertex Ventures along with the further contributions from NSFO Ventures, NABS Vriddhi and Mirabilis. The significant investment from investors increased Pilgrim’s total valuation to $250 million. The brand declared that these funds will be used to nurture its strategic growth plans.

Future outlook:

Looking forward, the driving force seen in the month of August 2024 is probably to continue with enhanced investor interest from both domestic and international ends. And the focus will likely to sustain on the sectors such as energy, technology and fintech which are witnessed as the vanguards of nation’s economic transformation.

As this scenario continues to progress, we can expect to witness more mega deals, improved involvement and infusion of funds from international investors and a sustained prominence on invention and technological revolution.