39 Indian startups secure over $387 million this week amid volatility


New Delhi, Jun 1 (IANS): Funding in the Indian startup ecosystem continued unabated this week despite volatility in stock markets over weak global cues.

At least 39 startups in the country secured more than $387 million, which included 13 growth-stage deals and 20 early-stage deals.

Within the growth-stage deals, 13 startups raised $309.7 million in funding, reports Entrackr.

Bengaluru-based startups led the tally with 15 deals, followed by Delhi-NCR, Mumbai and Hyderabad.

Deep-tech startup SEDEMAC raised $100 million which will be used to build a new manufacturing plant and expand its presence in India, the US and the EU. SEDEMAC builds auto parts and battery management systems.

While Infra.Market raised $50 million from MARS Unicorn Fund, electric vehicle company Ather Energy secured $34.5 million in debt and equity funding.

Founded in 2016, Infra.Market sells construction materials, infrastructure goods and technical equipment.

Another EV company Euler Motors closed its Series C funding round, securing $23.9 million.

Zypp Electric also raised $15 million this week to expand the company's fleet from 21,000 to 2,00,000 electric scooters.

Last week, 24 Indian startups raised $444 million in funding, including five growth-stage deals.

  

Top Stories


Leave a Comment

Title: 39 Indian startups secure over $387 million this week amid volatility



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.