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Indian startups raised over $239 Million funding in third week of May



Indian startups raised over $239 Million funding in third week of May

Indian startups demonstrated their resilience and potential last week, securing a total of USD 239 million in funding across 26 ventures. This funding frenzy encompassed a mix of nine growth-stage deals and 15 early-stage deals, highlighting the diverse and vibrant landscape of startups in the country.

As per information received, two early-stage startups have yet to disclose their funding amounts, adding to the intrigue surrounding the funding rounds. From May 6 to May 11, a total of 24 startups, spanning both early and growth stages, collectively raised close to USD 320 million.

In the realm of growth-stage deals, seven startups stood out, securing approximately USD 207.2 million in funding. Annapurna Finance led the pack with a significant injection of USD 72 million, aimed at expanding its microfinance operations. Other notable recipients included Battery Smart, Propelled, and Red, bolstering their respective sectors with substantial funding.

Meanwhile, 15 early-stage startups secured a combined funding of USD 32.5 million, with Celsius Logistics taking the lead in providing end-to-end cold-chain solutions. Matel, Otp less,, and Stupa Sports also secured noteworthy funding rounds, contributing to the innovative landscape of Indian startups.

While Bengaluru emerged as the frontrunner in startup funding activities with nine deals, other cities such as Delhi-NCR, Chennai, Mumbai, Hyderabad, Ahmedabad, and Bhubaneswar also showcased significant investment traction, underscoring the widespread presence and growth potential of the Indian startup ecosystem.