New Delhi: At least 23 Indian startups raised more than $138 million in funding this week, which included five growth-stage deals and 20 early-stage rounds. Last week, 30 Indian startups secured a total of $240.85 million in funding including five growth-stage investments and 20 early-stage rounds.
This week, payments company Cashfree Payments raised $53 million in a funding round led by Korean digital entertainment giant, KRAFTON and existing investor Apis Growth Fund II, a private equity fund managed by Apis Partners Group (UK) Limited. The capital will accelerate Cashfree’s payments offering and boost market outreach.
TrueFoundry, a leading AI deployment and scaling platform, raised $19 million in Series A funding, led by Intel Capital. Existing investors Eniac Ventures and Peak XV’s Surge (formerly Sequoia Capital India & SEA) participated, alongside new investor Jump Capital and several angel investors.
While logistics firm Shadowfax secured $16.8 million across two tranches from Mirae Asset, Nokia Growth Partners, Edelwiesse, dialysis service provider Apex Kidney Care bagged $9 million from Blue Earth Capital. HairOriginals raised $5 million in a Series A funding round, bringing its total funding to $7.2 million to date.
The funding round was co-led by 12 Flags Consumer Holdings and Anicut Growth Fund along with participation from Peyush Bansal. Meanwhile, members of the Startup Policy Forum (SPF) said that the Union Budget is a “game-changing catalyst” for India’s economy and startup ecosystem.
The Budget includes several key provisions such as tax relief for the middle class, enhanced credit access for MSMEs, and a fund of funds for startups. For startups, the credit guarantee cover will be increased from Rs 10 crore to Rs 20 crore, with the guarantee fee being moderated to 1 per cent for loans in 27 focus sectors important for Atmanirbhar Bharat.
The Alternate Investment Funds (AIFs) for startups have received commitments of more than Rs 91,000 crore. These are supported by the Fund of Funds, set up with a government contribution of Rs 10,000 crore.
