Between July 22 and July 27, 2024, 19 startups across various sectors raised over $82 million from investors.
These sectors include Agritech, HR Tech, B2B, GenAI, Gaming, Luggage, EV, Wealthtech and QSR.
Last week, Indian startups raised over $162 million in funding, with Mumbai-based Auxilo Finserve raising $30 million alone.
Unlike merger and acquisition deals, which typically don’t disclose financial information, these funding rounds offer a glimpse into areas of growing investor interest.
High Value Transactions
While various sectors attracted investments this week, aerospace led the way. Leading the way in this sector was Bengaluru-based aerospace company Unimech Aerospace, which raised $29.86 million in a private placement round led by Steadview Capital Mauritius Limited, ValueQuest Scale Fund and Evolvence India Fund IV Ltd.
Wealthtech startup Stable Money has raised $14.75 million in a funding round.
This was followed by NBFC company Neogrowth, flexible workspace provider Incuspaze and EV maker Ather Energy, which raised a combined $26.3 million. Neogrowth raised $11.2 million, Incuspaze raised $8 million and Ather Energy raised $7.1 million in debt.
Emerging Startups
HR tech startup Umwelt.ai raised the least amount in a seed funding round, securing $120,000, followed by VOC Automotive with $180,000.
Smart building solutions provider nhance.ai raised $1.5 million in a seed round, digital-first luggage brand Nasher Miles raised $4 million in a bridge round, wealthtech startup Neo raised around $4 million in a private placement round, and QSR chain Charcoal Eats raised $5.37 million in a funding round.
Meanwhile, Goddam Innovations, Aqin Biotech, Mkelly Biotech, Vedafit Foods, GenAI startup Devnagri, game studios Mayhem Studios and Empyreal Galaxy did not disclose their funding amounts.
Mergers and Acquisitions Highlights
The period also saw strategic mergers and acquisitions: business-to-business (B2B) seafood provider Captain Fresh acquired Poland-based salmon company Koral;
Bengaluru-based insurtech startup Acko has acquired digital chronic disease management company OneCare in an all-cash deal, terms of which were undisclosed.
Kohlberg & Company-backed business advisory firm Riveron has acquired Yantra, a technology and advisory services provider with extensive expertise to address the pressing needs of tech-enabled CFOs.
Thyrocare, a well-known diagnostic and preventive healthcare services provider, has acquired Polo Labs’ pathology diagnostics business.
