Indian Startup Funding Hits $1.1 Billion This Week, Led by CRED

Indian Startups raised more than $1.1 billion across 16 funding deals between June 21 and June 26, according to Inc42. The amount was around 2.5 times higher than the $426 million raised through 19 deals in the previous week.  

While the number of deals declined, the total funding value increased due to one large investment. 

CRED Deal Lifts Weekly Funding 

The biggest transaction of the week came from fintech startup CRED, which raised $900 million in a Series H funding round led by Meta.  

The deal was the largest startup funding round announced in India so far this year. Including another fintech transaction, the sector received $902 million across two deals, making it the highest-funded segment during the week. 

Real Estate and AI Record Fresh Investments 

Real estate technology followed fintech in weekly funding. Square Yards raised $95 million, becoming India's 131st unicorn, while AllHome secured $21.2 million in a Series B round.  

Together, the two companies raised $116.2 million. In artificial intelligence, Hang Ten Systems raised $32 million in a seed round, while JustAI received $17 million in a Series A funding round.  

Other startups raising capital during the week included Recykal, Mitigata, SuperLiving, SaffronStays, QOSMIC, Unnati Agri and Sherlocks AI. 

Investor Activity and Early-Stage Funding 

Bessemer Venture Partners participated in three funding rounds during the week, backing Square Yards, AllHome and Mitigata, making it the most active investor. Seed-stage funding totalled $35.3 million across four deals.  

However, Hang Ten Systems accounted for most of this amount. Excluding that investment, seed funding stood at $3.3 million across the remaining three deals. 

Acquisitions and IPO Developments 

The week also recorded acquisition activity. Tredence acquired US-based KMK Consulting, MoEngage acquired AI startup Aampe, and EXL signed an agreement to acquire iMerit in a deal valued at up to $310 million. Honasa Consumer announced the acquisition of a majority stake in Fluence Pharma for ₹135 crore.  

Separately, Turtlemint's ₹883 crore IPO closed with an overall subscription of 1.2 times, while Zypp Electric continued preparations for a proposed $200 million public issue. 

Read More: India's Active Credit Card Base Tops 120 Million in May; Spending Reaches ₹2.02 Lakh Crore! 

Conclusion 

Indian startup funding crossed $1.1 billion during the week, led by CRED's $900 million round. The period also saw fresh investments, acquisitions and IPO-related developments across the ecosystem. 

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