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[Funding Galore] From Lenskart To PhonePe — Indian Startups Raised $791 Mn This Week

By Debarghya Sil
[Funding Galore] From Lenskart To PhonePe — Indian Startups Raised $791 Mn This Week

This week’s over $700 Mn funding amount brought a welcoming break from the dreaded nine month long recession-like period in funding. 

Between March 13 and 18, Indian startups have raised $791 Mn across 22 deals. This is almost 344% more than $178 Mn raised between March 6 and 11 across 18 deals. 

The last time, Indian startups raised over $750 Mn was in the last week of July 2022, when the ecosystem had raised $791 Mn across 27 deals. 

Key Highlights From This Week’s Funding 

  1. This week, over $700 Mn was raised by two startups alone. Peyush Bansal’s Lenskart bagged half a billion dollars from Abu Dhabi Investment Authority (ADIA) and fintech giant PhonePe bagged $200 Mn primary capital from Walmart 
  2. Both ecommerce and enterprisetech sectors bagged six deals each. While funding raised by ecommerce startups stood at $536 Mn (thanks to Lenskart), enterprisetech startups raised a meagre $13 Mn
  3. Within ecommerce, D2C continued to bag the most funding amount as five out of six deals came from this sub-segment 
  4. Healthtech sector raising $28 Mn with four deals marked another interesting trend this week. Of this, $22 Mn was alone raised by B2B healthtech startup Healthplix 
  5. B2B model-focussed startups snatched the maximum number of deals with 12 fundraising activities 
  6. Interestingly, more than seven startups went to bag Pre-Series A round funding, reflecting a lesser appetite to raise a complete Series A round
  7. Alteria Capital and IPV were this week’s most active investors as both had invested in two startups each. 

Startup Funding Deals Of The Week

Other Key Developments

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