During the week, 21 Indian startups raised a total of approximately $105.87 million, including 3 growth-stage and 16 early-stage deals, while 2 startups kept their funding details undisclosed.
In comparison, the previous week saw 22 startups across early and growth stages secure around $184.4 million.
Growth-stage deals
In the growth-stage funding landscape this week, B2B cross-border e-commerce startup Geniemode raised $50 million in Series C round led by Multiples Alternate Asset Management, MOC Cancer Care & Research Centre MOC Cancer Care got $18 million in Series B round led by Elevation Capital and Fintech unicorn secured $12 million in debt from AK Capital Finance.
Early-stage deals
Further, 16 early-stage startups secured funding worth $25.87 million during the week. Professional linen management solutions provider Quick Clean led the early-stage funding with $5.7 million Series A round followed by content platform on the Sui blockchain FanTV, Full-stack electric vehicle ecosystem platform Vidyut, Fintech startup Lorien Finance, Cross-border payments platform HiWiPay, among others.
Quick commerce KiranaPro, PC and console gaming startup 1312 Interactive also raised a sum but did not disclose the amount raised. For more information, visit TheKredible for more.
City and segment-wise deals
In terms of the city-wise number of funding deals, Bengaluru-based startups led with 9 deals followed by Delhi-NCR, Mumbai & other cities.
Segment-wise, Fintech startups are at the top spot with 4 deals. E-commerce, Healthtech, Spacetech & Gaming startups followed with 2 deals each. Consumer Tech, Blockchain, EV & others also bagged the deals.
Series-wise deals
During the week, Seed funding deals led with 6 deals followed by pre-Series A, pre-seed, Debt and others.
Week-on-week funding trend
On a weekly basis, startup funding dropped by nearly 43% to $105.87 million as compared to around $184.4 million raised during the previous week.
The average funding in the last eight weeks stands at around $317.35 million with 28 deals per week.
Key hirings and departures
This week saw several key leadership changes as Santosh Agarwal was promoted as CEO of Paisabazaar as Naveen Kukreja stepped down from his role. Vishal Raj of Increff also promoted to the position of Co-founder and Naina Lal Kidwani former executive of HSBC joined Lightspeed as Venture Advisor.
Some notable departures occurred this week, with Romil Jain co-founder and former Chief Technical Officer of Increff left the firm, Vivek Mathur, partner and chief operating officer (COO) at Elevation Capital, has quit the venture capital firm after 14 years to focus on advisory and mentorship and Aakrit Vaish, co-founder of the conversational AI platform Haptik, has resigned as CEO, passing the leadership to Ahshad Jussawalla.
Visit TheKredible for more details
Mergers and Acquisitions
This week saw several notable acquisitions across industries. Veranda Learning acquires stakes in BB Virtuals and in Navkar Digital to strengthen its position in commerce education across India, Flipkart’s UPI app Super.money has acquired fintech startup BharatX to strengthen its credit offerings, Boss Wallah to acquire the edtech platform ffreedom from Suvision Holdings and US-based enterprise tech company Xurrent has acquired Zenduty, SaaS startup backed by Titan Capital, for an undisclosed amount.
Fund Launches
Wipro, a leading technology services and consulting company, has committed $200 million to its venture arm, Wipro Ventures, to accelerate investments in early- to mid-stage startups. GetVantage Launches AI -powered GrowthSahay, commits Rs 500 Crores to Revolutionize MSME Financing
ESOP Pool
SaaS-based B2B fintech firm Perfios has introduced a new employee stock option plan named “Perfios Employee Stock Option Plan 2025-A worth $76 million (Rs 645 crore)
Shutdown
Flipkart has decided to shut down ANS Commerce, its full-stack e-commerce enabler, three years after acquiring the Gurugram-based company.
Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights.
New launches and partnerships
▪️ThunderPlus launches high speed EV charging station
▪️GalaxEye collaborates with Impulso.Space to drive global expansion
▪️ Glance partners with Google Cloud
▪️Grant Thornton Bharat collaborates with Zoho to accelerate digital transformation
▪️SaaS major Freshworks partners with Unisys
▪️The ePlane Company collaborates with Empire Aviation to expand eVTOL operations in the UAE and Southeast Asia
▪️CarDekho Group enters into the UAE market in partnership with Raya Holdings
▪️Boon partners with Cygnett Hotels & Resorts
▪️KiranaPro collaborates with ZuperAI to provide AI-powered retail market solutions
▪️Paytm collaborates with Perplexity to provide users with real-time AI-driven financial assistance
▪️Times Internet ventures into fantasy gaming with the launch of Cricbuzz11
▪️NoBroker introduces ConvoZen.AI, a conversational AI platform for enterprises.
Financial results this week
▪️ H&M vs. Zara vs. Uniqlo: Tracking their growth in India during FY24
▪️ Perfora manages 30X revenue growth in three years
▪️ Kinetic Green’s losses balloon 11X in FY24, revenue dips 3%
▪️ Wow! Momo posts Rs 470 Cr revenue and Rs 114 Cr loss in FY24
▪️ Morgan Stanley-backed Recykal’s scale dips in FY24; losses spike 31%
▪️ Progcap crosses Rs 150 Cr revenue in FY24, cuts losses
Potential deals
▪️ The ePlane Company plans to raise up to $50 million
▪️ InCred Finance to acquire TruCap’s gold loan business for ₹330 crore.
News flash this week
▪️Ola Electric sells 25,000 units in Feb, expands market lead with 28% share
▪️Zomato invests Rs 1,500 Cr in Blinkit
▪️Flipkart shuts down ANS Commerce
Summary
On a weekly basis, startup funding dropped by nearly 43% to $105.87 million as compared to around $184.4 million raised during the previous week.
EV manufacturer Ola Electric reinforced its leadership in the electric two-wheeler (2W) segment with a 28% market share, selling 25,000 units in February.
Food tech giant Zomato invested Rs 1,500 crore (nearly $178 million) in its quick commerce subsidiary, Blinkit, just a month after closing its Rs 500 crore round.
This week also saw many collaborations as Fintech giant Paytm has partnered with AI search engine Perplexity to offer users real-time financial assistance on its app, Glance has partnered with Google Cloud to leverage its AI models for enhancing user experiences on smartphone lock screens and ambient TV screens, among others.