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Inc42
| 3mFrom BluSmart To Grow Indigo — Indian Startups Raised $48 Mn This Week
Indian startups faced a 72% drop in funding, securing $48 million across eight deals in the week ending February 3. This decline followed the interim budget week, with funding activity decreasing both in terms of value and volume. EV startup BluSmart led the funding with $25 million from responsAbility Investments AG. Cleantech emerged as the most funded sector, raising $36 million across three deals. Edtech giant BYJU’S initiated rights issues procedures to raise $200 million at a $225 million valuation, while dairy tech startup Stellapps is reportedly in talks with existing investors for a $20 million Series C funding round.
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