- The Indian startup ecosystem has witnessed a significant resurgence in fundraising activities this week, with startups collectively securing nearly $202 million across 21 deals.
- Leading the charge in this latest funding spree are cleantech startups, with EV startup Battery Smart emerging as a standout by raising $65 million.
- In the consumer goods sector, direct-to-consumer (D2C) skincare firm Foxtale successfully raised $18 million in a round led by Singapore-based Panthera Growth Partners.
- Adding to the momentum, Renee Cosmetics, a popular beauty and makeup brand, secured Rs 100 crore (around $12 million) in a Series B funding round.
- In another notable development, Zepto, a fast-growing grocery delivery platform, is set to raise approximately $650 million from a mix of existing and new investors.
- Investors’ continued confidence and interest in sectors like cleantech, consumer goods, and e-commerce underscore the sector’s potential for innovation and growth.
The Indian startup ecosystem has witnessed a significant resurgence in fundraising activities this week, with startups collectively securing nearly $202 million across 21 deals. This marks a remarkable 100% increase from the previous week’s total, where startups had garnered approximately $98 million through 10 deals.
Leading the charge in this latest funding spree are cleantech startups, with EV startup Battery Smart emerging as a standout by raising $65 million. This funding round was led by LeapFrog Investments and attracted participation from prominent investors including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures, and British International Investment.
In the consumer goods sector, direct-to-consumer (D2C) skincare firm Foxtale successfully raised $18 million in a round led by Singapore-based Panthera Growth Partners. This injection of capital will bolster Foxtale’s expansion efforts and product development initiatives.
Adding to the momentum, Renee Cosmetics, a popular beauty and makeup brand, secured Rs 100 crore (around $12 million) in a Series B funding round. The funding was anchored by existing investors Evolvence India and Edelweiss Group, valuing Renee Cosmetics at an impressive Rs 1,200-1,400 crore.
In another notable development, Zepto, a fast-growing grocery delivery platform, is set to raise approximately $650 million from a mix of existing and new investors. This substantial funding round is anticipated to elevate Zepto’s valuation to around $3.5 billion, positioning it strongly for future growth and potential public listing ambitions within the next 2-3 years.
The resurgence in fundraising highlights the resilience and dynamism of India’s startup ecosystem, particularly amidst economic uncertainties. Investors’ continued confidence and interest in sectors like cleantech, consumer goods, and e-commerce underscore the sector’s potential for innovation and growth. As startups capitalize on these investments, they are poised to drive significant technological advancements and contribute to the country’s economic development in the coming years.
(With inputs from agencies)
