/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
Follow Us/indianstartupnews/media/media_files/7XJcBRBGykHEwx7YpIuP.jpg)
Between June 10 and June 15, 2024, as many as 27 startups from diverse sectors raised over $312 million in funding from investors.
These sectors include Wdtech, NBFC, AI, Healthcare, Fintech, Consumer Electronics, EV, DeFi, Skincare, Insurtech, Manufacturing, and Agriculture.
From June 3 to June 8, 14 Indian startups secured over $135 million in funding, with Fibe alone raising $90 million. This was followed by Lendingkart, Astrotalk, Country Delight, and Testsigma, which raised $13 million, $9.5 million, $9 million, and $8.2 million, respectively.
Unlike merger and acquisition deals, which typically do not disclose financials, these funding rounds provide a glimpse into the sectors attracting growing investor interest.
High-value deals
A diverse range of sectors attracted investments during the week, with Battery Tech leading the pack. Leading this sector was Gurugram-based Battery Smart, which raised $65 million in a Series B funding round. About $45 million (Rs 376 crore) of the total raised was in primary funding, and the rest in secondary.
Sabine Hospital and Research Centre raised $50 million in funding from CX Partners, with participation from a consortium of investors.
The list was followed by Solar power solutions provider Candi Solar, Consumer Electronics startup Indkal Technologies, and Skincare startup Foxtale, which collectively raised $92 million in funding. Candi Solar raised $38 million, Indkal raised $36 million, and Foxtale raised $18 million.
Emerging startups
Several startups have emerged as noteworthy for their traction with the funding community.
Healthtech startup C3 Med-Tech secured the smallest amount in funding, raising $240,000. This was closely followed by rental marketplace Hour4u, which garnered $420,000, and AI startup rampp.ai, which raised $500,000 in an angel round.
Creme Castle raised $700,000 in a seed round, while a Full-stack gut health startup Sova Health attracted $1 million in a seed round. DeFi startup Qiro Finance secured $1.2 million in a pre-seed round, and Fin+Insurtech startup Finsall raised $1.8 million in a bridge round. Consumer brands Palette Brands managed to raise $2 million in a pre-Series A round.
Dronetech startup Skye Air and AI and robotics startup Swaayatt Robots both raised $4 million, with Skye Air's funding coming from a Series A round. JCB Salons India raised $4.78 million, followed by B2B home decor brand Trampoline and EV startup Indigrid Technology, each raising $5 million.
NBFC firm Artha Finance closed a Series B round with $5.98 million. Additionally, Ice cream brand Hocco, workspace startup Smartworks, and beauty startup RENEE Cosmetics, each raised $12 million. Manufacturing startup Ethereal Machines raised $13 million in a Series A round.
Debt funding
Fintech firm CredAble raised Rs 30 crore or about $3.59 million in debt funding from the Small Industries Development Bank of India (SIDBI).
Additionally, Agri firm Samunnati raised Rs 133 crore or about $15.941 million in debt from Blue Earth Capital to expand initiatives for small farmers' climate adaptation and sustainability projects.
Meanwhile, the on-demand English tutoring platform Clapingo kept the funding figure under wraps. Innoviti Technologies Pvt., a payments-centric retail SaaS platform, initiated the second close of its ongoing Series E funding round. The firm initiated the second close of Rs 75 crore with an investment by Alumni Ventures. Additional investors will be joining in the coming weeks, with the Series E round expected to close by June end.
Merger and acquisition highlights
The period also featured strategic mergers and acquisitions. Nazara Technologies’ subsidiary, NODWIN Gaming International Pte Ltd, an arm of NODWIN Gaming Private Limited, acquired Ninja Global FZCO (Ninja) for $3.57 million in a cash and stock deal.
360 One Wealth and Asset Management, formerly IIFL Wealth, also agreed to acquire the wealth tech platform ET Money for Rs 365.8 crore.