Indian startups secure $585.71 million in funding this week

New Delhi, May 10 (IANS) In a significant surge, Indian startups collectively raised approximately $585.71 million this week, marking a substantial increase from the $102.93 million secured the previous week.

This uptick reflects a growing investor confidence and interest in India's burgeoning startup ecosystem.

The majority of this funding was directed towards growth-stage companies, with notable investments including Porter, an on-demand goods transport agency, which secured $200 million in its Series F funding round.

This round was led by Kedaara Capital and Wellington Management, propelling Porter into the unicorn club.

Other significant growth-stage investments encompassed automotive company Routemotic, which raised $40 million in its Series C round, and interior design startup Flipspaces, which secured $35 million led by Iron Pillar.

Additionally, logistics firm Celcius Logistics, foodtech company The Good Bug, and e-commerce startup Blissclub also attracted substantial investments this week.

On the early-stage front, 20 startups collectively raised $263.41 million. Healthcare company PB Healthcare led this segment with an impressive $218 million seed round, backed by General Catalyst.

Other early-stage startups that garnered funding include robotics company Posha, edtech firm Footprints, spacetech startup InspeCity, commercial vehicle platform 91Trucks, and proptech company Alt DRX.

Geographically, Delhi-NCR-based startups led the funding race with 11 deals, closely followed by Bengaluru with 10 deals.

Startups from Mumbai and Chennai also secured investments, indicating a diverse and widespread entrepreneurial activity across the country.

Sector-wise, healthtech startups emerged as the most attractive to investors, securing four deals.

Logistics and foodtech sectors followed with three deals each, while artificial intelligence, automotive, decor, and robotics sectors also saw investor interest.

Meanwhile, in the previous week, the Indian startups had raised approximately $102.93 million across 25 deals, with strong contributions from early-stage and growth-stage companies.

Bengaluru and Delhi-NCR-based startups led the funding race last week, with seven deals each, followed by Mumbai and Chennai.

--IANS

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