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Indian startups raise $202 million, over 100 pc jump from last week

15 Jun, 2024 15:00 IST|Sakshi Post

New Delhi, June 15 (IANS) The fundraising by the Indian startup ecosystem reclaimed its upward trend this week with nearly $202 billion via 21 deals.

This is a massive over 100 per cent rise from last week when the startups secured about $98 million in 10 deals.

Cleantech startups maintained the lead, with EV startup Battery Smart raising $65 million led by LeapFrog Investments.

The equity round saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment.

Direct-to-consumer (D2C) skincare firm Foxtale raised $18 million in a round led by Singapore-based Panthera Growth Partners.

Another beauty and makeup brand, Renee Cosmetics, raised Rs 100 crore (around $12 million) in a Series B funding round led by existing investors Evolvence India and Edelweiss Group. The current funds were raised at a valuation of Rs 1,200-1,400 crore.

In another major news, quick grocery delivery platform Zepto is set to raise nearly $650 million from existing and new investors. According to sources, the funding will take the valuation of Blinkit's closest rival to around $3.5 billion.

Zepto recently said that it plans to go public in the next 2-3 years.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.

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