Indian startups raised over $82 million from July 22 to July 27, 2024; Unimech Aerospace tops the list
Between July 22 and July 27, 2024, as many as 19 startups from diverse sectors raised over $82 million in funding from investors.
These sectors include Agritech, HRtech, B2B, GenAI, Gaming, Luggage, EV, Wealthtech, and QSR.
Last week, Indian startups raised over $162 million in funding, with Mumbai-based Auxilo Finserve raising $30 million alone.
Unlike merger and acquisition deals, which typically do not disclose financials, these funding rounds provide a glimpse into the sectors attracting growing investor interest.
High-value deals
A diverse range of sectors attracted investments during the week, with Aerospace leading the pack. Leading this sector was Bengaluru-based aerospace firm Unimech Aerospace, which raised $29.86 million in a private placement round led by Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd.
Wealthtech startup Stable Money raised $14.75 million in a funding round.
This was followed by NBFC firm Neogrowth, Flexible workspace provider Incuspaze, EV maker Ather Energy, which collectively raised $26.3 million. Neogrowth raised $11.2 million, Incuspaze raised $8 million, and Ather Energy raised $7.1 million in debt.
Emerging startups
HRtech startup Umwelt.ai raised the smallest amount, securing $120,000 in a seed funding round. This was followed by VOC Automotive, which raised $180,000 in funding.
Smart Buildings solutions provider nhance.ai raised $1.5 million in a seed round, Digital-first luggage brand Nasher Miles raised $4 million in a bridge round, Wealthtech startup Neo raised nearly $4 million in a private placement round, QSR chain Charcoal Eats raised $5.37 million in a funding round.
Meanwhile, Goddam Innovations, Aqin Biotech, Mkelly Biotech, Vedafit Foods, GenAI startup Devnagri, Gaming studio Mayhem Studios, and Empyreal Galaxy kept the funding figures under wraps.
Merger and acquisition highlights
The period also featured strategic mergers and acquisitions. Captain Fresh, a business-to-business (B2B) seafood provider, acquired Poland-based salmon company Koral.
Bengaluru-based insurtech startup Acko acquired digital chronic care management firm OneCare. The terms of the all-cash transaction remain undisclosed.
Kohlberg & Company-backed business advisory firm Riveron acquired Yantra, a technology and advisory services provider with a broad range of expertise to address the pressing needs of technology-enabled CFOs.
Thyrocare, a well-known diagnostic and preventive healthcare service provider, bought Polo Labs’ pathology diagnostic business.
