Indian startups secure $395 mn this week

 

 

RIDING on overall economic growth, Indian startups raised more than $395 million in at least 20 deals this week, a massive about 350 per cent jump from $113 million secured last week in 22 deals. Hospitality and travel-tech company Oyo led the funding ecosystem with raising Rs 1,457 crore (nearly $175 million) in aSeries Ground from investors like In Cred Wealth, Patient Capital,J&A Partners,thefamily office of Mankind Pharma Limited promoters and ASK Financial Holdings, among others.

 

Neo,a wealth and asset management firm, secure Rs 400 crore (about $48 million) inSeries B round led by MUFG Bank and New York-based Euclidean Capital LLC. EVfirmAther Energy reportedlysecured $71 million led byNational Investment andInfrastructure Fund(NIIF), taking its valuation to $1.3 billion andmaking it a new unicorn.Withthis,thecompany managed to raiseover $125 million in lastthree months. Fintech startup Innoviti raised Rs 70 crore( $8.5million) in a combination of equity and debt, led by Random Walk Solutions, with participation from existing investors Bessemer Venture PartnersUSA, Patni Family Office Indiaand Alumni Ventures.