IANS | 17 Jun, 2024
The fundraising by the Indian startup ecosystem reclaimed its upward
trend this week with nearly $202 billion via 21 deals.
This is a massive over 100 per cent rise from last week when the
startups secured about $98 million in 10 deals.
Cleantech startups maintained the lead, with EV startup Battery Smart
raising $65 million led by LeapFrog Investments.
The equity round saw participation from new and existing investors,
including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and
British International Investment.
Direct-to-consumer (D2C) skincare firm Foxtale raised $18 million in a
round led by Singapore-based Panthera Growth Partners.
Another beauty and makeup brand, Renee Cosmetics, raised Rs 100 crore
(around $12 million) in a Series B funding round led by existing investors
Evolvence India and Edelweiss Group. The current funds were raised at a
valuation of Rs 1,200-1,400 crore.
In another major news, quick grocery delivery platform Zepto is set to
raise nearly $650 million from existing and new investors. According to
sources, the funding will take the valuation of Blinkit's closest rival to
around $3.5 billion.
Zepto recently said that it plans to go public in the next 2-3 years.
--IANS
