Massive Increase in Indian Startup Funding, Reaches $596 Million
Key Highlights:
-Zepto raises $350M, marking a surge in India's quick-commerce sector.
-HealthKart secures $153M, launches $6.5M employee ESOP buyback plan.
-Zopper raises $25M in Series D, backed by Elevation Capital and Blume Ventures.
This week, the Indian startup ecosystem saw a significant recovery, with funding rising by over 226%, securing a total of approximately $596 million.
As per the reports, last week, Indian startups secured around $182.62 million in funding, with three growth-stage investments and 19 early-stage deals contributing to the total.
Who Grabbed maximum funds?
Zepto raised $350 million in a funding round led by Motilal Oswal’s private wealth division. This brings the total investment to over $1.3 billion in the last five months, as quick-commerce grows in India.
HealthKart, an omnichannel nutrition platform, secured $153 million in funding led by ChrysCapital and Motilal Oswal Alternates. The round also saw participation from Neo Group and existing investor A91 Partners. HealthKart also announced its first employee ESOP buyback plan worth Rs 55 crore ($6.5 million).
Zopper, India's leading insurtech platform, raised $25 million in a Series D round co-led by Elevation Capital and Dharana Capital. Blume Ventures, Creaegis, Bessemer Venture Partners, and ICICI Venture also participated.
Doodhvale Farms, a premium dairy sector innovator, successfully raised $3 million in funding. The round was led by Atomic Capital with Singularity Early Opportunities Fund as a major co-investor.
Bengaluru-based startups led the funding activity with 10 deals, followed by Delhi-NCR, Mumbai, Chennai, Pune, and Hyderabad.
Over the past eight weeks, the average weekly funding has been approximately $266.77 million, with 25 deals occurring each week.
By October this year, Indian startups had secured nearly $10 billion in funding, on pace to exceed the total $10.5 billion raised throughout the previous year.
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