Indian startups raised over $377 million from Aug 12 to Aug 17, 2024; OYO tops the list

Between August 12 and August 17, 2024, as many as 18 startups from diverse sectors raised over $377 million in funding from investors.

These sectors include EV, Hospitality, Deeptech, EV, Healthcare, Fintech, Traveltech, Financial Services, Furniture, and Luxury.

Last week, Indian startups raised over $98 million in funding, with Healthtech startup Visit Health raising over Rs 250 crore 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 the hospitality sector leading the pack. Leading this sector was hospitality giant OYO, which reportedly raised $175 million in funding. EV giant Ather Energy raised $71 million and became the country's newest unicorn startup.

The list was followed by Wealth management firm Neo Group, EV maker Kinetic Green, and All-electric intercity bus startup Fresh Bus, which collectively raised $83.1 million.

Neo Group raised $47.6 million, Kinetic Green raised $25 million, and Fresh Bus raised $10.5 million.

Emerging startups

Traveltech startup Ziptrrip raised the smallest amount, securing $238,000 in a pre-seed funding round. This was followed by AI-driven B2B sales enablement platform MiClient, which raised $464,000 in a seed funding round. 

Luxury men's clothing brand Haldèn secured $596,000 in a Seed round. Deeptech startup EyeROV and B2B healthcare financing startup HealthCRED both raised $1.2 million, with EyeROV's funding being a pre-Series A round and HealthCRED's in a seed funding round. 

Proptech startup Truva followed, raising $3 million in a seed round. Wealthtech startup infinyte.club secured $3.6 million in a seed funding round, and CTPL raised $4 million in a Series A funding round. 

Fintech startup Skydo and ethnic brand FASHOR both raised $5 million, with Skydo's funding being in a pre-Series A round.

Healthcare startup 4baseCare garnered $6 million in a Series A funding round. E-Mobility startup Kazam raised $8 million in a Series A round. Home, kitchen, and personal care brand Beco, which secured $10 million in a pre-Series B round.

Merger and acquisition highlights

The period also witnessed strategic mergers and acquisitions. US-based private equity firm Warburg Pincus acquired a majority stake in Mumbai-based Ebco.

The Veefin Group of Companies acquired Nityo Tech, the Indian arm of Singapore-based Nityo Infotech, through one of its subsidiaries.

Rural-focussed agri-fintech startup Jai Kisan acquired a majority stake in Kushal Finnovation Capital Private Limited, a non-banking finance company (NBFC).