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Indian Startups Raised Over $187 Million in Second Week of May 2024

ISN Team
New Update
Indian Startups Funding May

In the first week of May 2024, the Indian startup ecosystem got off to an impressive start, securing over $329 million in funding across 27 deals. However, the second week didn't seem to surpass the first-week funding milestone. 

Between May 04 and May 11, 2024, as many as 21 startups from diverse sectors raised over $187 million in funding; these sectors include fintech, lending, agritech, SaaS, technology, D2C, cybersecurity, healthcare, deeptech, and medtech.

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


High-value deals

A diverse range of sectors attracted investments during the week, with healthcare and electric mobility leading the pack. Leading these sectors were Nephroplus and Greencell Mobility, raising $102 million and $37 million, respectively.

The agritech sector also witnessed notable funding activity, with SuperPlum securing $15 million in a Series A funding round.

The list was followed by lending firm Lendingkart and foodtech startup Poshn, who collectively raised $16 million in funding. Poshn raised $4 million in equity and $2 million in debt from Prime Venture Partners and Zephyr Peacock India.

Emerging startups

Several startups have emerged as noteworthy for their traction with the funding community.

Fintech startup 50Fin raised $550,000, Jewellery marketplace Eternz raised $1.15 million, SaaS startup Knit raised $1 million, Parseable raised $2.75 million, D2C startup ICON raised $1.2 million, Cybersecurity startup Treacle raised $447,000, and Atomgrid raised $1.19 million, all in their seed and pre-seed funding rounds.

Edtech startup GyanLive, Eyewear startup QUE, fleet management startup trackNOW, and Food Square kept the figures under wraps.

In addition to Superplum, agritech startups BharatRohan and Cornext raised $2.3 million and $2.2 million, respectively. Meanwhile, deeptech startup Myelin Foundry, along with Suniel Shetty-backed tyre recycling startup Regrip, collectively secured $6 million in funding.

Merger and acquisition highlights

The period also featured strategic mergers and acquisitions. Notably, Global investment firm KKR signed the definitive agreements for acquiring Healthium Medtech Ltd, a leading Indian medical devices company. 

While the firm didn't disclose the financial details of the deal, an ET report said KKR has valued the Indian company at Rs 7,000 crore, inclusive of debt.

AI Squared has also acquired an open-source Reverse ETL (rETL) company, Multiwoven, for an undisclosed sum.