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Indian Startups Raised Over $194 million in Fourth Week of April 2024

ISN Team
New Update
april fourth week startup funding

The fourth week of April 2024 has come to an end. During this month, Indian startups collectively raised over $808 million in funding from both domestic and global investors.

Notably, $194 million of this total was raised in the fourth week alone, with non-banking lender Northern Arc leading the charge by raising $80 million, followed by LysKraft and CloudExtel.

However, the funding in the fourth week did not surpass the third week's milestone. During this week, as many as 21 startups from diverse sectors raised funding. These sectors include spacetech, QSR, NBFC, AI, fashion, logistics, SaaS, education, and healthtech.

Unlike merger and acquisition deals, which typically do not disclose financials, these funding rounds give us a peek into the sectors witnessing investors' growing interest.


High-value deals

A diverse range of sectors attracted investments during the week, with NBFC and the Fashion sector leading the pack. Leading these two sectors were NBFC firm Northern Arc and Mukesh Bansal's Lyskraft, raising $80 million and $26 million, respectively. 

Behind NBFC and fashion, the Network-as-a-Service (NaaS) and logistics sectors collectively accounted for nearly 25% of this week's total funding.

CloudExtel secured the highest funding in the NaaS category, raising $23.9 million in debt from NIIF Infrastructure Finance Limited (NIIF IFL) and Aditya Birla Finance Limited (ABFL). LetsTransport raised the most in logistics, securing $22 million in a Series E round. 

The list was followed by Dhruva Space, which closed its Series A funding round at Rs 123 crore or approximately $15 million.

Notable startups on the rise

Several startups have emerged as noteworthy for their traction with the funding community. In the logistics sector, Matchlog Solutions raised $1.5 million during its pre-Series A funding round. Similarly, from the healthtech sector, Endimension Technology secured $720,000.

In the D2C sector, Adukale raised $1.3 million, and from the SaaS sector, Accacia secured $6.5 million, both in their pre-Series A funding rounds.

Startups like Karban Envirotech, BOba Bhai, and Plane have closed Seed funding rounds, indicating an influx of early-stage confidence. They all raised $1.07 million, $1.5 million, and $4 million, respectively. 

Interestingly, the week also saw startups Nabhdrishti Aerospace, Control One AI, and Smartworks secure funding in pre-seed and growth-stage rounds.

Flexicloud Internet, Seleos Solar Energy, and NFTFN, which did not disclose their funding rounds, collectively raised over $3.67 million. While Flexicloud Internet chose not to disclose the amount it secured, both Seleos Solar Energy and NFTFN raised $3.17 million and $500,000, respectively.

Merger and acquisition highlights

Besides funding rounds, The fourth week also witnessed strategic mergers and acquisitions. Japan-based Mynavi acquired majority stakes in Bengaluru-based Awign for an undisclosed sum.

On the other hand, Chennai-based Veranda expanded its educational footprint by acquiring Logic Management Training Institute.