Indian startups made 22 deals from April 14^th to April 19^th. This week, around $65.3 million in funding was raised from these deals, a 67 percent decrease compared to last week. Funding activity in India’s startup ecosystem declined this week. It went from last week’s 195 million USD raised through 20 deals to 65.3 million USD through 22 deals.

Garuda Aerospace, the deeptech startup, led both the overall and industry funding lists this week. The total funding amount raised by the startups in this sector was $22.9 million across four deals. Garuda secured $11.7 million in its series B funding round from Venture Catalysts and other investors.

The e-commerce sector also emerged as the second most funded sector with 22.3 million USD raised across eight deals. The e-commerce platform OfBusiness led the e-commerce sector with $11.7 million raised during its new funding round from Cornerstone Ventures. Another e-commerce startup, Jewelbox, also secured $3.2 million during its pre-series A funding round from V3 Ventures, Dexter Ventures, Infinyte Club, and other investors.

The seed funding sector saw a huge decline this week, going from last week’s $10.1 million to this week’s $2.3 million. The e-commerce sector again had the highest number of deals, with eight. The fintech sector raised 8.7 million USD across one deal this week. Lendingtech platform Varthana secured $8.7 million during its debt funding round from Oxyzo and OfBusiness. This fintech platform provides financial solutions to businesses and individuals.

Most of these startups were from e-commerce, deeptech, and fintech sectors, followed by enterprise tech and cleantech startups like IPEC. Other major deals this week include. The defence tech startup, Optimized Electro Tech, secured $6 million during its series A funding round from Blume Ventures, 100 unicorns, Mela Ventures, and other investors. Edtech startup CENTA raised $2.3 million in its series A funding round from Colossa Ventures and Discovery Asset Management. 

Enterprise tech firm Magma contributed $5 million this week, securing this amount in its series A funding round from Capira Ventures, Avinya Ventures, General Catalyst, Sanjiv Rangrass, WEH Ventures, and Accion Venture Lab. Cura Care topped the healthtech sector list by raising 586k USD as part of its pre-seed funding round from Zeropearl VC and other investors. Inflection Point Ventures and Venture Catalysts emerged as the most active investors by funding two startups this week.

Conclusion:

Indian startups made 22 deals between April 14th and April 19th, raising over $65.3 million. Garuda Aerospace secured the highest funding amount of $11.7 million from Venture Catalysts and other investors in its series B funding round. 

Some of the major investments made include OfBusiness, which secured the most funds under the e-commerce category with $11.7 million from its latest round of funding. The majority of these startups came under the deeptech, e-commerce, clean tech, and enterprise tech categories, followed by edtech startups such as CENTA, which secured $2.3 million in its funding round from Colossa Ventures and other investors.