Indian startups made 10 deals from 3rd June to 8th June. The amount raised from these deals was  nearly $97 million in funding this week. This week’s funding amount decreased by 22.6% compared to  last week’s $217.84 million across 31 deals. The decline in total fundraising came after the stock market  crash due to general elections, however Indian startups raised over $1 billion for the first time this year in May. 

The seed funding round has a decline this week as most early-stage startups had a loss due to a market  crash following the general elections. Traxcn data reported that mostly late-stage Indian startups raised  funds from 16 rounds. Meanwhile, the Pune-based lending startup, Fibe secured the highest funding  of $66 million in a series E funding round led by TPG’s Rise Fund and Kabira Holdings. The Rise fund  led the round with a $16 million investment followed by Kabira Holdings with a $15 million investment.  The startup raised $110 million in August last year for its series D round led by TPG’s The Rise Fund  and Northwest Venture Partners. 

The Eyewear retailer company, Lenskart also secured a total funding amount of $200 million in its  second fundraising round from Fidelity Management & Research Company and Temasek. After the  second fundraising round, this startup is valued at $5 billion. The company mentioned acquiring land  near Bengaluru airport to set up a new branch. Lenskart accounted for 61 percent of the overall  fundraise this week with $200 million. Other notable investment includes Fibe and EV startup, Ather  Energy which secured $34.5 million in a round led by Stride Ventures. 

Avail was also one of the top startups to secure a $43 million deal in its series A round led by Cyber  Fund and Founders Fund. AstroTalk, a B2C Astrotech startup contributed to the funding this week by  securing $9.5 million in its extended series A funding round led by Elev8 and Left Lane Capital. On a  weekly basis, Indian startups had an increment compared to last week’s $218 million. 

Conclusion: 

10 deals were made by Indian startups from 2nd June to 8th June securing over $97 million in funding.  Eyewear retailer startup Lenskart raised the second fundraising amount of $200 million from Fidelity  Management & Research Company and Temasek. Other notable investments include Ather Energy  which secured $34.5 million in a round led by Stride Ventures this week. Fibe is another e-commerce  startup that secured the highest fundraising with $66 million in a series E funding round led by TPG’s  Rise Fund and Kabira Holdings.

The decline in total fundraising came after the general elections, where  Indian startups raised over $1 billion for the first time this year. Primary fundraising had a decline but  the week had a gain in secondary fundraising. Fundraising of $200 million by Lenskart had a huge  contribution to the total secondary fundraising as it accounted for 61 percent of the overall fundraising  this week. Avail was also one of the top startups to secure a $43 million deal in its series A round led  by Cyber Fund and Founders Fund followed by Astrotalk with $9.5 million from Elev8 and Left Lane.