Indian Startups Bank $86M in Funds, Mstack to Waycool - The Northlines
18 October 2024
Indian startups raised $86.4 million across 16 deals last week, a decline of over 80% from the previous week's funding of $432.2 million across 24 deals. The top funded startup was Mstack, which raised $40 million in a Series A round led by Lightspeed and Alphawave. Agritech firm Waycool also raised $11.9 million in debt funding. Overall, enterprise tech was the most funded sectorlast week while ecommerce saw the highest number of deals with startups in the sector raising $6.7 million across 4 rounds. Seed funding activity declined last week with startups raising only $1.9 million at the seed stage compared to $44.5 million in the previous week. Coworking startup DevX filed its DRHP with SEBI to launch an IPO consisting of a fresh issue of 2.47 crore shares. Foodtech major Swiggy also got approval to increase its IPO size to Rs. 5,000 crore. Notable acquisitions included Adda247 acquiring PrepInsta and Brainbees-backed The Butternut Co being fully acquired by FirstCry.
Indian startups raised $86.4 million across 16 deals last week, a decline of over 80% from the previous week's funding of $432.2 million across 24 deals. The top funded startup was Mstack, which raised $40 million in a Series A round led by Lightspeed and Alphawave. Agritech firm Waycool also raised $11.9 million in debt funding. Overall, enterprise tech was the most funded sectorlast week while ecommerce saw the highest number of deals with startups in the sector raising $6.7 million across 4 rounds. Seed funding activity declined last week with startups raising only $1.9 million at the seed stage compared to $44.5 million in the previous week. Coworking startup DevX filed its DRHP with SEBI to launch an IPO consisting of a fresh issue of 2.47 crore shares. Foodtech major Swiggy also got approval to increase its IPO size to Rs. 5,000 crore. Notable acquisitions included Adda247 acquiring PrepInsta and Brainbees-backed The Butternut Co being fully acquired by FirstCry.
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