24 Indian startups Raise Over $229 Million In Funding This Week

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New Delhi: At least 24 domestic startups secured more than $229 million in funding this week, which included six growth-stage deals worth $182.65 million. The week saw 13 early-stage deals worth $46.14 million. Overall, Bengaluru-based startups led with eight deals, followed by Delhi-NCR, Mumbai, Hyderabad and Kolkata, as per industry data.

The funding momentum was led by mobile advertising network software InMobi which raised $100 million in a debt funding round, followed by MSME-focused fintech lender FlexiLoans which secured $35 million. While employee healthcare platform Onsurity secured $21 million, spiritual tech startup AppsForBharat raised $18 million.

Among other fundings, consumer lending platform Moneyview received $4.65 million and HRtech platform HROne $4 million this week. The average funding in the last eight weeks stood at over $331 million with 26 deals per week. E-commerce startups led the funding with 5 deals, followed by fintech, healthtech and Cleantech startups.

Among mergers and acquisitions, Nazara Technologies took a controlling stake in Moonshine Technology, the parent company of PokerBaazi, for Rs 982 crore. The gaming and sports media company acquired 47.7 per cent stake in Moonshine for Rs 832 crore through a secondary transaction and announced to infuse Rs 150 crore in primary capital via compulsory convertible preference shares.

E-commerce enabler GoKwik acquired Return Prime, a global returns management app. Meanwhile, global venture capital firm Accel announced a pre-seed scaling programme where selected startups will receive up to $1 million in funding through equity or convertible note, and access perks worth more than $5 million from Accel’s network partners.

Last week, the Indian startups secured $348 million across 19 deals. The week was led by ride-sharing platform Rapido which raised $200 million in its Series E funding.