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Indian startups raised over $259 million from July 1 to July 06, 2024; Purplle Group tops the list

ISN Team
New Update
indian startup funding report july 1st week

Between July 1 and July 06, 2024, as many as 18 startups from diverse sectors raised over $259 million in funding from investors.

These sectors include Beauty, Healthtech, Agritech, Fintech, Traveltech, Lending, and EV. Between June 3 and June 29, around 91 Indian startups raised over $1.5 billion in funding, with Mumbai-based Zepto raising $665 million alone.

This was followed by Fibe, Ummeed, Battery Smart, Sabine Hospitals, and Candi Solar, which raised $90 million, $76 million, $65 million, $50 million, and $38 million, respectively.

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


High-value deals

A diverse range of sectors attracted investments during the week, with quick commerce leading the pack. Leading this sector was Mumbai-based beauty retailer Purplle Group, which raised $120 million led by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

Ritesh Aggarwal-led OYO raised $50 million in a funding round led by InCred Wealth and Investment.

The list was followed by EV maker Matter Motor, Agritech startup Arya.ag, and healthtech startup Watch Your Health, which collectively raised $69 million in funding. Matter Motor raised $35 million, Arya.ag raised $29 million, and Watch Your Health raised $5 million.

Emerging startups

Kolkata-based dating app Flutrr raised the smallest amount, securing $240,000 in funding. This was followed by the wellness brand Amocare, which raised $400,000 in a pre-seed funding round.

Mobile app-based toy library Elefant raised $750,000 in a seed funding round. Fabriclore, a Jaipur-based tech-enabled fabric sourcing platform for fashion businesses, raised $1.6 million.

Freight brokerage startup Lobb raised $2.9 million in funding. Two-wheeler financing startup Bike Bazaar and home furnishing installation startup Wify each raised $3 million, with Bike Bazaar opting for debt financing and Wify in a pre-Series A round. 

Social media startup Pepul garnered $4 million in a pre-Series A funding round, while spend management startup Dice secured $5 million in a Series A round.

Meanwhile, Wellness brand Hoop, B2B fabric marketplace and procurement platform Fabrito, Agritech startup Gocarin Industries, and D2C nutrition startup Supply6 kept the funding figure under wraps.

Merger and acquisition highlights

The period also featured strategic mergers and acquisitions. Indian crypto exchange CoinDCX acquired BitOasis, the Middle East and North Africa’s leading virtual assets trading platform, which boasts the highest trading volume in Emirati Dirhams.