29 Indian startups secure $461 million this week

New Delhi, Sep 28
The Indian startup ecosystem continued its growth momentum this week with securing nearly $461 million which included 10 growth-stage deals.

At least 29 startups were part of the funding week, which saw 18 early-stage deals, as one startup kept financial details undisclosed.

Global digital adoption platform (DAP) leader Whatfix secured $125 million in a Series E funding round, led by Warburg Pincus with participation from existing investor SoftBank Vision Fund 2. The investment will enable Whatfix to expand its category leadership and enhance its integrated product suite through organic growth and strategic acquisitions.

API infrastructure platform M2P Fintech raised $101.8 million followed by healthtech startup Qure.ai raising $65 million (led by Lightspeed Venture Partners and 360 ONE Asset Management).

Omnichannel home interior and renovation platform HomeLane raised $27 million this week.

Meanwhile, SCOPE, the invite-only networking platform for startups, launched its new $50 million venture capital fund under its investment banking arm, SCOPE VC.

The new fund will offer investments ranging from $500,000 to $2 million per startup, targeting early-stage companies that demonstrate innovation and disruptive potential.

Optimistic Capital launched a Rs 200 crore fund focused on microbreweries. Tribe Capital and Oister Global also launched a joint secondary fund targeting $500 million in investments over the next two years.

Bengaluru-based startups led with 17 deals, followed by Delhi-NCR and Mumbai.

Last week, the domestic startup ecosystem saw more than $628.24 million being raised by 36 startups -- a whopping 174.5 per cent surge.

In the nine months this year, India’s tech startup ecosystem secured $7.6 billion funding, along with witnessing six new unicorns.

According to Tracxn, a SaaS-based market intelligence platform, the initial public offering (IPO) numbers have surged, with 29 tech companies going public in 2024 (year to date), compared to 15 during the same period in 2023.