Modern office towers in a high-tech business district, India
Indian startups experienced a significant surge in funding, collectively raising over $1.1 billion across 16 deals between June 21 and June 26. This marks a substantial increase from the previous week’s $426 million secured across 19 deals.
The substantial uptick was largely propelled by fintech firm CRED’s $900 million Series H funding round, which stands as the largest single funding deal of the year. The week also marked a milestone for the real estate technology sector, with Square Yards becoming the 131st Indian unicorn following a $95 million funding round, positioning real estate tech prominently in the week’s funding landscape.
Funding Galore: Indian Startup Funding Highlights (June 21 – June 26)
Fintech emerged as the leading sector, attracting $902 million across two deals, predominantly due to CRED’s substantial raise. Real estate tech followed, securing $116.2 million through Square Yards’ unicorn-making round and AllHome’s Series B funding.
Other notable funding activities included:
- Hang Ten Systems, an AI venture associated with former Infosys CEO Vishal Sikka, raised $32 million in a seed round from Mayfield Ventures and Aramco Ventures.
- JustAI, an AI-native marketing platform backed by Peak XV Partners and Y Combinator, secured $17 million in a Series A round led by Base10.
- Square Yards raised $95 million, EAAA Alternatives and Muzinich & Co.
- AllHome raised $21.2 million in a Series B round from Bessemer Venture Partners and Stride Ventures.
- Mitigata, an enterprise tech startup, received $15 million in a Series B round from investors including Bessemer Venture Partners.
Bessemer Venture Partners was the most active investor during the week, participating in funding rounds for Square Yards, AllHome, and Mitigata.
Startup M&A and IPO Updates
In mergers and acquisitions, AI and analytics firm Tredence acquired US-based KMK Consulting to enhance its healthcare data analytics capabilities. Honasa Consumer is acquiring a majority stake in Fluence Pharma for ₹135 Cr, and customer engagement platform MoEngage acquired US-based AI startup Aampe. EXL also announced its agreement to acquire AI data company iMerit for up to $310 million.
On the IPO front, insurtech startup Turtlemint’s ₹883 Cr IPO closed with a 1.2X subscription. Meanwhile, EV logistics startup Zypp Electric is planning a $200 million IPO within the next 18-24 months, targeting a listing in FY28.
Source: Inc42
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