In the funding landscape for Indian startups, a slow but steady trend in startup funding is taking hold, marking a promising turn of events after a sluggish year in 2023. Several startups secured funding across different categories, such as Seed, Series A, Series B, Series E, and Conventional Debt, during the week of January 21 to January 27, 2024.
Key highlights from the funding data include:
- OYO is expected to secure $400 million in funding from Malaysian Sovereign Fund Khazanah, which will be used for expansion and loan repayment. OYO is also preparing for an imminent IPO.
- Bangalore-based fashion startup NewMe raised $5.4 million to fuel its expansion plans, including optimizing its supply chain, scaling up manufacturing operations, and extending its reach to more cities.
- Vivifi, an NBFC startup, secured $75 million in series B funding to expand its consumer base and increase its workforce to 2000 employees within the next 12 to 18 months.
- Infra.Market, a construction startup based in Mumbai, raised INR 100 crore in debt funding for working capital needs and general corporate purposes.
- RagaAI, an automated testing startup, raised $4.7 million in seed funding and has a clientele that includes Fortune 500 companies.
- Namdev Finvest, an NBFC startup, raised $15 million in series B funding to expand its reach, diversify product offerings, enhance technology, and focus on the economic empowerment of underserved segments.
- Bengaluru-based gaming startup Stan secured $2.7 million in pre-seed series A funding to democratize infrastructure for creators, leverage AI for community architecture development, facilitate user personalization, and collaborate with gaming legends.
This funding data reflects a positive shift in the startup funding landscape in India and highlights the potential for growth and innovation in various sectors.
