This week, 31 Indian startups raised around $490.32 million in funding, with 7 growth-stage deals totaling $443.8 million. Zepto led with a $340 million Series F round. Additionally, 19 early-stage startups secured $46.52 million. Bengaluru-based startups dominated the funding landscape, particularly in E-commerce and Fintech sectors.
Unicommerce Sees Profit Surge in Q1 FY25
Unicommerce, an e-commerce SaaS platform, reported a 3% revenue increase to Rs 27.4 crore and a 22% profit jump to Rs 3.5 crore in Q1 FY25. The Gurugram-based company’s IPO was oversubscribed by 168 times, with shares now trading at Rs 221.97.
Verlinvest Leads $35M Series C Round in Blue Tokai
Global investor Verlinvest led a $35 million Series C round in Blue Tokai, joined by Anicut Capital and A91 Partners. The funds will help Blue Tokai expand to over 350 locations in India and deepen its presence in metro markets. Despite revenue growth, the company’s losses surged in FY23.
Mastercard and boAt Partner to Launch Tap-and-Pay Smartwatch Feature
Mastercard has partnered with wearable brand boAt to introduce tap-and-pay functionality on its smartwatches. Using the Crest Pay app, Mastercard cardholders can now make seamless payments directly from their boAt devices. Initially available to select banks, the feature supports transactions up to Rs 5,000 without a PIN.
Clean Electric Raises Rs 48.5 Crore in Series A Round
Energy storage startup Clean Electric secured Rs 48.5 crore ($6 million) in its second funding round in 20 months, led by Info Edge, Pi Ventures, and Kalaari Capital. The funds will support expansion and capital needs, valuing the company at Rs 176 crore ($21.2 million) post-allotment.
Rebel Foods Boosts Revenue and Cuts Losses by Over 40% in FY24
Rebel Foods, formerly known as Faasos, reported a 19% revenue growth to Rs 1,420 crore in FY24 while reducing losses by over 40% to Rs 378 crore. The cloud kitchen company achieved this by expanding its core food operations and controlling expenses, improving its overall financial health.
Zepto Raises $340 Million, Boosting Valuation to $5 Billion
Quick commerce company Zepto raised $340 million in a follow-on round led by General Catalyst, lifting its valuation to $5 billion. The funds will help Zepto double its dark stores to 700 by March 2025 and expand into new markets. The company has raised over $1 billion in 2024.
Pilgrim Raises Rs 75 Crore in Extended Series B Funding Round
Beauty and personal care D2C brand Pilgrim secured Rs 75 crore ($9 million) in an extended Series B round led by Fireside and Vertex Ventures. The funds will be used for expansion and corporate purposes. Pilgrim’s valuation tripled to Rs 2,075
Atlanta-Based Evolve Raises Over $6M to Enhance Prefabrication Workflow Tech
Evolve, an Atlanta-based prefabrication workflow tech company, secured over $6 million in growth funding. The funds will accelerate the development of Evolve’s platform, which automates construction design workflows for mechanical, electrical, and plumbing contractors. The enhancements will include improved Revit modeling, content management, and cross-department spooling methods.
Medront Secures ₹1.06 Crore in Pre-Seed Funding for Data Storage Innovation
User data storage startup Medront raised ₹1.06 crore in its pre-seed round led by Inflection Point Ventures. Founded in 2023, Medront empowers users with control over personal data through innovative data pods. The funds will enhance product development, user acquisition, and onboarding DAAS clients, positioning the startup for future growth.
