Indian Startups Bounce Back: 39 Companies Secure $449 Million in Funding This Week

The Indian startup ecosystem experienced a significant funding rebound this week, with 39 startups raising approximately $449 million across 29 deals—a remarkable over 300% increase from the $135 million raised the previous week. The funding activity included 12 growth-stage and 16 early-stage deals, while seed funding reached $26.5 million, reflecting a 48.8% surge from last week’s $17.8 million.

Among the notable raises, edtech startup Eruditus secured $150 million led by TPG’s The Rise Fund, with participation from existing investors such as SoftBank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments, and the Chan Zuckerberg Initiative. Ashwin Damera, CEO of Eruditus and its parent company Emeritus, expressed excitement about the investment, stating, “With this investment, we're excited to continue to grow and innovate to meet market demand.”

Additionally, omnichannel beauty platform Purplle extended its latest funding round by Rs 500 crore, bringing the total to Rs 1,500 crore (around $180 million), led by Abu Dhabi Investment Authority (ADIA), along with participation from existing investors like Premji Invest and Blume Ventures.

GIVA Jewellery also announced the successful closure of its extended Series B funding round, raising Rs 255 crore from esteemed investors, with support from Premji Invest, EPIQ Capital, and Edelweiss Discover Fund.

In the software-as-a-service (SaaS) sector, a startup secured $30 million in a round led by Eight Roads Ventures, with contributions from Elevation Capital and 3one4 Capital.

Moreover, the Indian fintech startup ecosystem raised $778 million in funding during the July-September period, placing it second globally, behind the US, in terms of fintech funding for the third quarter. This reflects a 66% increase from the $471 million raised in Q3 last year and an impressive 165% surge from the $293 million raised in Q2 this year, according to a report by Tracxn, a SaaS-based market intelligence platform.

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