According to a new report, over 77% of Indian startups are now investing in advanced technologies such as AI, Machine Learning (ML), Internet of Things (IoT) and Blockchain. NEW DELHI: The Indian startup ecosystem saw funding of over $200 million across 25 deals this week, a significant increase from around $116.26 million raised last week.
Seed funding by domestic startups increased 17% this week to $9.78 million from $8.33 million last week.
The fintech unicorn has secured $30 million in debt financing from Neo Asset Management’s Credit Opportunities Fund.
Community-driven mobility app, Namma Yatri, has raised USD 11 Mn (approx. INR 920 Mn) in a pre-Series A funding round led by Blume Ventures and Antler, with participation from Google and other investors.
Electric vehicle (EV) company BluSmart has raised USD 24 million (approx. INR 2 billion) in a pre-Series B round of funding. The fresh funds will help BluSmart expand its operations and build charging infrastructure and assets in major cities.
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Fast fashion brand Newme has raised US$18 million in a Series A round led by Accel, with participation from existing investors including Fireside Ventures and AUM Ventures.
Lenskart founders Peyush Bansal, Neha Bansal, Amit Choudhury and Sumeet Kapahi have invested approximately USD 20 million (approximately INR 1.6 billion) in the omnichannel eyewear retailer.
Meanwhile, Google last week said it was partnering with MeitY’s “startup hub” to train 10,000 startups in artificial intelligence (AI). The tech giant has expanded access to its AI models and introduced new language tools for developers in the country.
According to a new report, over 77% of Indian startups are currently investing in advanced technologies such as AI, Machine Learning (ML), Internet of Things (IoT) and Blockchain.
Another key finding, according to the report released by SAP India in collaboration with Dun & Bradstreet, is the emergence of tier 2 and tier 3 cities as innovation hubs, with 40% of technology startups emanating from these cities, leveraging local talent and cost advantages.
Published on July 21, 2024 12:46 PM IST
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