Indian startups struck 19 deals in 2014Ra from September 7 to September 8. The amount raised from these deals this week was around $348 million. The total funding has decreased by 25 percent compared to the previous week. Funding activity in India's startup ecosystem has decreased this week as funding has come down from $466 million raised from 16 deals last week to $348 million raised from 19 deals.
Travel tech startup, Rapido topped the overall and regional funding list this week. The total funding amount raised by startups in the region was $204 million across two deals. Rapido secured $200 million in its Series E funding round from Westbridge Capital and other investors. Ride-hailing platform Rapido raised this amount in its follow-up funding round at a valuation of USD 1 billion. The funding round was participated by Nexus Venture Partners, Invus Opportunities and Think Investments. The company provides an instant ride-booking platform. Another travel tech company The Hostler secured $4 million during its new funding round from V Cube Ventures SA and LV Angel Fund.
The seed funding sector witnessed a 200 per cent growth this week as it rose from $3.05 million last week to $10.7 million this week. E-commerce startups secured the highest number of deals and raised $9.4 million across five deals. The fintech sector emerged as the second favourite of investors this week as it raised $116.8 million across three deals. Drip Capital led the fintech list in funding this week. This lending tech platform provides financial services and loan options to its customers. The fintech startup secured $113 million during its ongoing funding round from GMO Payment Gateway.
Most of these startups were from the e-commerce, travel tech, clean tech and fintech sectors, followed by consumer services, deep tech and real estate tech startups like Justo RealFintech. Other big deals this week are: E-commerce startup, Nutrabay raised $5 million from RPSG Capital Ventures and others with participation from other investors during its pre-series A funding round. Deep tech BigIndian Semiconductor contributed $3 million in funding this week as it raised $3 million in its seed funding round from Vertex Ventures SEA & India. The healthtech sector led the list with Global Care raising $3 million in its series A funding round from 35 North India Discovery Fund-II.
conclusion :
19 deals struck by Indian startups since September 2Ra It has raised over $348 million in funding as of September 7. Rapido raised the biggest amount, buoyed by $200 million raised in its funding round, dominating the funding trend in the travel tech sector. Other notable investors include Drip Capital, which raised the highest amount of funding in the fintech sector with $113 million in its latest funding round.
Most of these startups were from the e-commerce, fintech, and cleantech sectors, followed by real estate tech startups like Justo RealFintech, which raised $7 million in its funding round. E-commerce startups had the most deals, raising $9.4 million across five deals.
