Mind-blowing May

In the month of May, the total amount of influx of funding surpassed $1.3 billion. The biggest contribution of this huge pool of fund is attributed to tech giant Google & e-commerce major Flipkart’s $350 million deal.

Indian startups have already grabbed $1.34 billion across 128 deals in May. These deals include 39 growth-stage that lifted $1.19 billion and another 66 early-stage deals amounted $154 million, total 23 undisclosed deals were signed.

Bhavish Agarwal’s AI based startup Krutrim entered the unicorn club with pride and profit. According to the report of The Kredible, the funding in May reached 29% month-on-month jump from the previous month. In comparison to May 2023, the funding saw a total 32% surge, and the startups are eyeing on $12 billion by the end of this year.

Apart from Flipkart-Google deal, SaaS based firm Atlan raised $105 million in Series C round and healthtech startup NephroPlus’s attracted $102 million in Series F round. D2C sportswear brand Technosport and Fashion apparel brand Libas raised $21 million and $18 million respectively.

EV Charging solution provider platform CHARGE ZONE secures $19 million from British International Investment (BII), another EV charging platforms, GreenCell Mobility, and Ather Energy, Battery Smart also collected funding. Agritech startup Superplum raised $15 million in Series A.

Few notable merging and acquisition deals were also signed, in this month. Tech based gadget maker Boat has acquired SocialBoat, MamaEarth taken over CosmoGenesis Labs.

Bengaluru again hit the top spot in funding deals by cracking 52 successful deals, and contributed 60% of the total funding.

Judicious June

The month of June has recorded a strong and consistent growth of various sectors of the economy. Indian startups have collected nearly $1.8 billion of funding across 114 successful deals. A few notable deals which fetched the maximum amount are, Lenskart received $200 million secondary funding, digital lending stratup fibe grabs $90 million, Ather Energy receives $15 million, EV startup Battery Smart got $65 million, D2C skincare brand foxtale and RENEE Cosmetics collected $18 million and $12 million respectively. Technology and innovation company Indkal technologies bagged $36 million.

Unicorn e-commerce platform Zepto again stole the limelight with collecting $665 million funding, Craft beer maker Bira 91, and fintech firm Slice collects $30 million, and $25 million respectively.

In this month, e-commerce and fintech, startups grabbed the top spot followed by EV startups, deeptech, Agritech, and Healthtech. Bengaluru hit the top spot with 44 successful deals.

Gujarat Finance Limited declared first close of their Rs. 200 crore ‘Prarambh Fund’ focusing on seed-stage tech startups with investments between Rs.1 crore and Rs. 3 crore.

In order to make strong impact with their AI engine and distribution network, HealthTech startup HealthPresso is eyeing on to secure $1 million in pre-Series A funding.

Zomato and Paytm are in mature stage of discussion about taking over Paytm’s movies and ticketing business.

According to the financial report revealed by Goldman Sachs, Indian Food delivery market is anticipated to grow up with Zomato as their leader, and Zomato’s market share has surged up to 56-57%.

Last Note

Considering the above facts, we can undoubtedly say that, the wheels of this vast startup ecosystem are revolving together with brilliance and resilience. Though the Indian startups have witnessed various challenges such as intense competition, regulatory complexities, they have come up with flying colors. There is a dire need for sustainable business models amidst high expectations from investors. Certainly, the new entrepreneurial force will set a new benchmark on the global stage and promised a replay of inspiring innovations and powerful paradigm shift ahead for forth-coming year.