Indian startups secured over $395 million across 20 deals this week, marking a 350% increase from the $113 million raised last week in 22 deals.
Oyo led the funding with a Series G round, raising Rs 1,457 crore (approximately $175 million) from investors including InCred Wealth, Patient Capital, J&A Partners, and others.
Wealth management firm Neo raised Rs 400 crore (around $48 million) in a Series B round led by MUFG Bank and Euclidean Capital LLC.
Ather Energy, an EV company, secured $71 million from the National Investment and Infrastructure Fund (NIIF), bringing its valuation to $1.3 billion and making it a new unicorn. The company has raised over $125 million in the past three months.
Fintech startup Innoviti raised Rs 70 crore ($8.5 million) in equity and debt, led by Random Walk Solutions, with existing investors Bessemer Venture Partners, Patni Family Office, and Alumni Ventures participating.
In July, Indian startups raised $1.03 billion, boosted by the government’s abolition of the angel tax on foreign investors in the Union Budget 2024-25.
The $1.03 billion came from 126 deals, including 28 growth or late-stage deals worth $725 million and 72 initial-stage deals worth $311 million.
In June, Indian startups raised $1.93 billion in funding. Government-recognized startups have generated over 15.5 lakh direct jobs. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized 1,40,803 entities as startups as of June 30.
