21 Indian Startups Raise $93 Million Across 16 Deals This Week

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New Delhi: About 21 startups in India raised nearly $93 million in funding across 16 deals this week, which included four growth-stage deals and 12 early-stage fundings. It is a big drop from nearly $461 million raised by 29 domestic startups last week, which included 10 growth-stage deals.

This week, agriculture supply chain startup Waycool raised Rs 100 crore (about $12 million) in debt financing from Grand Anicut. Waycool buys fresh produce, including dairy products, from farmers and sells them to retailers and restaurants.

Fintech platform Basic Home Loan raised $10.6 million (Rs 87.5 crore) in a Series B funding round led by Bertelsmann India Investments (BII), along with CE-Ventures. Troo Good, a Millet-based snack brand, raised Rs 72 crore led by Oaks Asset Management, along with Puro Wellness and V Ocean Investments, Entrackr reported.

Among the 12 early-stage startups who secured $59.05 million this week, chemical manufacturing platform Mstack led the funding. IG Drones closed its initial funding round, securing a substantial investment of $1 million, led by India Accelerator and Angel Investors.

Mental health platform LISSUN raised $2.5 million, led by RPSG Capital Ventures and some new investors. Bengaluru and Delhi-NCR based startups led with seven deals each, followed by Mumbai, Hyderabad and Chennai.

In the third quarter (July-September), domestic startups raised more than $4 billion, including several transactions over $300 million and $200 million, along with pre-IPO rounds. This included 85 growth and late-stage deals worth $3.3 billion, along with 207 early-stage deals worth $754.26 million.

From the January-September period this year, the country’s tech startup ecosystem secured $7.6 billion funding, along with witnessing six new unicorns. As per Tracxn, the initial public offering (IPO) numbers surged, with 29 tech companies going public in 2024 (year to date), compared to 15 during the same period in 2023.