At minimum, 23 Indian startups have raised greater than $138m worth of capital this week. This included five growth stage deals as well as 20 rounds of early-stage funding.
In the last week thirty Indian startups received a total of $240.85 millions in capital, which includes five growth-stage investments as well as 20 rounds of early-stage funding.
This week, payments firm Cashfree Payments raised $53 million in a capital round which was led by Korean KRAFTON, a major in digital entertainment KRAFTON and its existing investors Apis Growth Fund II, which is a private equity fund that is operated by Apis Partners Group (UK) Limited.
The capital will boost Cashfree’s payment service and increase market reach.
TrueFoundry, an industry-leading AI scale and deployment platform was able to raise the sum of $19 million through Series A financing, under the direction of Intel Capital. Investors who have been around for a while Eniac Ventures and Peak XV’s Surge (formerly Sequoia Capital India & SEA) joined in as did an investor new to the company Jump Capital and several angel investors.
As logistics company Shadowfax has secured $16.8 million over two tranches of Mirae Asset, Nokia Growth Partners, Edelwiesse, dialysis service provider Apex Kidney Care bagged $9 million from Blue Earth Capital.
HairOriginals received $5 million from the Series A round of funding which brought its total investment to $7.2 million as of.
The round of funding was led by 12 Flags Consumer Holdings and Anicut Growth Fund along with participation from Peyush Bansal.
In the meantime, participants from the Startup Policy Forum (SPF) declared they believe the Union Budget is a “game-changing catalyst” for India’s startup ecosystem and its economy.
The Budget has a variety of important features, including tax relief for middle class, improved credit access for micro- and small-sized businesses and an investment fund to help startups.
For those who are just starting out the credit guarantee coverage is to be raised from 10 crore to 20 crore, and the fee for the guarantee to be reduced to 1% to lend in the 27 specific areas that are crucial to Atmanirbhar Bharat.
It is reported that the Alternate Investment Funds (AIFs) for startups have been awarded commitments of more than 91,000 crore. They are funded with the Fund of Funds, set in the year 2000 with a contribution from the government of 10000 crore rupees.
