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Indian startups raised over $897 million from June 17 to June 22, 2024; Zepto tops the list

ISN Team
Updated On
New Update
Funding Fusion June 17 to June 22, 2024

Between June 17 and June 22, 2024, as many as 30 startups from diverse sectors raised over $897 million in funding from investors.

These sectors include quick-commerce, NBFC, Proptech, Lending, Fashion, Beverage, Fintech, and AI, among others.

Between June 3 and June 17, around 41 Indian startups raised over $447 million in funding, with Fibe raising $90 million alone. This was followed by Battery Smart, Sabine Hospitals, and Candi Solar, which raised $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 Aadit Palicha-led Zepto, which raised $665 million in a Series F funding round. 

Housing loan provider Ummeed Housing Finance Pvt. Ltd raised $76 million in a Series F funding equity round.

This list was followed by lending firm Aye Finance, Craft beer maker Bira 91, and digital lending startup Slice, which collectively raised $75 million in funding. Aye Finance raised $30 millionBira 91 raised $25 million, and Slice raised $20 million, all in debt rounds.

Emerging startups

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

BFSI-focused Metis Intellisystems raised the smallest amount in funding, securing $150,000. This was followed by packaged drinking water startup Wahter, which raised $600,000 in a pre-seed funding round. Beverage brand Rockit secured $710,000 in a pre-seed round.

Several startups raised $1.5 million each: vegan ice cream brand Go Zero in a pre-Series A round, AI startup GreyLabs in a Seed round, generative AI startup Ayna in a Seed round, and beauty brand Asaya also in a Seed round.

Fintech SaaS startup Prosper.io garnered $1.55 million in a pre-seed round. Premium luggage brand Eume raised $1.8 million in a pre-Series A round. AI-powered networking marketplace Unikon.ai raised $2 million in a Seed round.

Payments startup POP and Jupiter's Amica Finance each raised $2.4 million in Seed funding rounds. Revenue automation startup MeetRecord secured $2.7 million in a pre-Series A round. AI startup Maxim AI raised $3 million, and R&D-led specialty chemicals platform Distil raised $3.1 million in a Seed round.

Lending startup Supermoney raised $3.4 million in a Series A funding round. Farm equipment company Modish Tractoraurkisan raised $4.78 million. Healthtech startup Alyve Health secured $5.5 million in a Series A round. AI startup Orbitshift garnered $7 million in a Seed round, and NBFC firm Dvara KGFS also raised $7 million in debt.

Shivalik Small Finance Bank raised $11.96 million in funding. Meanwhile, Proptech startup Landeed, Fintech startup LEO1, and AI design powerhouse Nirwana.AI kept the funding figure under wraps.

Lastly, Virat Kohli-backed fashion brand WROGN secured $15 million from Aditya Birla's TMRW House of Brands.

Merger and acquisition highlights

The period also featured strategic mergers and acquisitions. Yatra Online Limited acquired the remaining 49% stake in its joint venture, Adventure and Nature Network Private Limited (ANN), making ANN a subsidiary of Yatra Online. Before the acquisition, Yatra Online held a 50% stake in ANN. With the completion of the transaction, the company's ownership will rise to 99%.

Ananta Capital, under its beauty and wellness company Guardian, acquired a 55% stake in Anveya Living for an undisclosed amount. The company currently houses three D2C brands, including ThriveCo, Curlvana, and Anveya.