Indian startups raised over $162 million from July 15 to July 20, 2024; Auxilo Finserve tops the list

Between July 15 and July 20, 2024, as many as 25 startups from diverse sectors raised over $162 million in funding from investors.

These sectors include NBFC, Eyewear, Fashion, Ride-hailing, Skincare, Healthcare, Fintech, SaaS, and Gaming.

Last week, Indian startups raised over $114 million in funding, with Mumbai-based wealthtech startup Dezerv raising $32 million alone.

Unlike merger and acquisition deals, which typically do not disclose financials, these funding rounds provide a glimpse into the sectors attracting growing investor interest.

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High-value deals

A diverse range of sectors attracted investments during the week, with NBFC leading the pack. Leading this sector was Mumbai-based education finance firm Auxilo Finserve, which raised $30 million in a funding round led by LeapFrog Investments through its Jade Inclusion investment vehicle.

EV ride-hailing startup BluSmart raised $24 million in a pre-Series B funding round.

The list was followed by Peyush Bansal-led eyewear startup Lenskart, Fashion-tech brand NEWME, and Commercial drone solutions startup Aereo, which collectively raised $52.2 million. Lenskart raised $19.12 million, NEWME raised $18 million, and Aereo raised $15 million.

Emerging startups

Ride-hailing startup MyPickup raised the smallest amount, securing $170,000 in a seed round. This was followed by fashion tech startup Frendy, which raised $240,000 in debt funding. Personal care startup Honestly raised $380,000 in a pre-seed round, and EV financing startup Perpetuity Capital secured $830,000 through Non-Convertible Debentures (NCD).

Skincare startup SkinInspired raised $1.5 million in a seed funding round, Healthtech startup Lifetime Health and fintech startup Multipli, both of which also raised $1.5 million in their respective seed funding rounds.

Healthcare startup Icanheal and AI startup Fibr each raised $1.8 million. Former Zomato executive-founded startup Ninecamp Ventures raised $2 million in a seed round.

Water tech startup Boon secured $5 million in a Series A round, while edtech startup byteXL raised $5.9 million in a Series A round. Nurture Well received $6 million in funding. Corvi LED secured $8 million in a Series B funding round, followed by NBFC firm Seed Fincap, which raised $8.5 million in a Series A round. Ride-hailing startup Namma Yatri raised $11 million in a pre-Series A funding round.

Meanwhile, Fintech startup Getepay, Healthtech startup Abhay HealthTech, SaaS startup Bitscale, and Fintech startup Validus Fintech kept the funding figures under wraps.

Merger and acquisition highlights

The period also featured strategic mergers and acquisitions. Mumbai-based gaming company Nazara Technologies acquired an additional 48.42% stake in Paper Boat Apps Pvt. Ltd (PBA) from its promoters, Anupam and Anshu Dhanuka, for Rs 300 crore.

Nikhil Kamath-backed Collective Artists Network acquired the AI-powered influencer marketing platform Galleri5.