Riding the wave of economic expansion, Indian entrepreneurs raised over $395 million last week in at least 20 agreements. last represents a staggering 350% increase from the $113 million that was acquired in 22 deals last week.
In a Series G round led by investors such as InCred Wealth, Patient Capital, J&A Partners, the family office of Mankind Pharma founders, and ASK Financial Holdings, Oyo, a hospitality and travel internet startup, led the funding round.
Neo, a wealth and asset management company, closed a Series B financing headed by MUFG Bank and Euclidean Capital LLC, based in New York, for Rs 400 crore, or roughly $48 million.
With the National Investment and Infrastructure Fund (NIIF) leading the funding round, EV startup Ather Energy allegedly raised $71 million, making it a new unicorn with a $1.3 billion valuation. By doing this, the business has raised more than $125 million in the past three months.
Lead by Random Walk Solutions, fintech company Innoviti raised Rs 70 crore ($8.5 million) in debt and equity, including participation from current investors Alumni Ventures, Patni Family Office India, and Bessemer Venture Partners USA.
As the government eliminated the angel tax, which was imposed on foreign investors in the Union Budget 2024–25, Indian entrepreneurs raised $1.03 billion in July.
Reports state that 126 deals raised $1.03 billion for Indian companies. Of them, seventy-two were first-stage deals valued at $311 million, and twenty-eight were growth or late-stage acquisitions totaling $725 million.
In June, $1.93 billion was raised by Indian startups.
Over 15.5 lakh direct jobs have been created to date by companies recognized by the government. 1,40,803 companies have been recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) as of June 30.
Since 2016, the government has implemented around 55 regulatory reforms aimed at improving corporate ease of doing business, capital raising ease, and lowering the startup ecosystem’s compliance burden.
