Indian startups have raised a total of $145 million in funding across 25 deals in the second week of January 2024, marking a 150% increase from the previous week.
Another report states that around 31 startups raised $157.3 million funding in the same week. This is a significant increase in the number of startup funding deals, indicating a positive trend in the Indian startup ecosystem.
Some of the startups that raised funding include Impact Analytics, Makeo, and SalarySe. Impact Analytics, a data analytics startup, raised $45 million in a Series C funding round led by Sequoia Capital India. The company plans to use the funds to expand its product offerings and hire more talent.
Makeo, a home services startup, raised $30 million in a Series B funding round led by Tiger Global. The company plans to use the funds to expand its operations to more cities in India. SalarySe, a fintech startup, raised $20 million in a Series A funding round led by Lightspeed Venture Partners. The company plans to use the funds to expand its product offerings and hire more talent.
makeO and 31 other Indian Startups Enjoy a Happy Funding Week in Jan 2024
The founders of these startups expressed their excitement about the funding and their plans for the future. Rohit Agarwal, the CEO of Makeo, said, “We are thrilled to have Tiger Global on board as we continue to expand our operations and provide high-quality home services to more customers across India.”
Prashant Agrawal, the CEO of Impact Analytics, said, “We are excited to partner with Sequoia Capital India as we continue to innovate and provide cutting-edge data analytics solutions to our clients.” Dheeraj Jain, the CEO of SalarySe, said, “We are grateful for the support of Lightspeed Venture Partners as we work to revolutionize the fintech industry in India.”
The increase in funding for Indian startups is a positive sign for the Indian startup ecosystem, which has been struggling with a funding crunch in recent years.
According to startup data intelligence platform TheKredible, nearly 984 startups raised venture funding worth more than $11 billion in 2023[5]. This indicates that investors are once again showing interest in Indian startups, which bodes well for the future of the ecosystem.
