23 Indian Startups Raise Over $138 Million in Funding This Week
At least 23 Indian startups raised more than $138 million in funding this week, which included five growth-stage deals and 20 early-stage rounds.
New Delhi: At least 23 Indian startups raised more than $138 million in funding this week, which included five growth-stage deals and 20 early-stage rounds.
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Last week, 30 Indian startups secured a total of $240.85 million in funding, with a similar mix of five growth-stage investments and 20 early-stage rounds.
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Notable Funding Deals
Payments company Cashfree Payments raised $53 million in a funding round led by Korean digital entertainment giant KRAFTON and existing investor Apis Growth Fund II, a private equity fund managed by Apis Partners Group (UK) Limited. This capital will help accelerate Cashfree’s payments offerings and expand its market reach.
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TrueFoundry, an AI deployment and scaling platform, raised $19 million in Series A funding, led by Intel Capital. Existing investors Eniac Ventures and Peak XV’s Surge (formerly Sequoia Capital India & SEA) participated in the funding round, alongside new investor Jump Capital and several angel investors.
Shadowfax, a logistics firm, secured $16.8 million across two tranches from Mirae Asset, Nokia Growth Partners, and Edelwiesse. Meanwhile, dialysis service provider Apex Kidney Care bagged $9 million from Blue Earth Capital.
HairOriginals raised $5 million in a Series A funding round, bringing its total funding to $7.2 million to date. The funding round was co-led by 12 Flags Consumer Holdings and Anicut Growth Fund, along with participation from entrepreneur Peyush Bansal.
Budget Provisions for Startups
Meanwhile, members of the Startup Policy Forum (SPF) hailed the Union Budget as a “game-changing catalyst” for India’s economy and startup ecosystem. The Budget includes key provisions such as tax relief for the middle class, enhanced credit access for MSMEs, and a Fund of Funds for startups.
For startups, the credit guarantee cover will increase from Rs 10 crore to Rs 20 crore, with the guarantee fee moderated to 1% for loans in 27 focus sectors important for Atmanirbhar Bharat. Additionally, Alternate Investment Funds (AIFs) for startups have secured commitments of more than Rs 91,000 crore, supported by a Fund of Funds with a government contribution of Rs 10,000 crore.
