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Harsh Dwivedi
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Medial • 1y
Indian startups this Week 1. On a weekly basis, startup funding slipped 71% to $125.13 million as compared to $447.6 million raised during the previous week. 2. Praveen Sharma, senior vice president of business at Paytm’s parent entity One 97 Communications, resigned nearly after over four years. 3. Investment tech startup GoldPe will cease to exist precisely one year after its inception on April 1, 2023. Co-founder Parth Shah stated that the decision was made due to the absence of a sustainable revenue stream, a flawed business model, and cash flow issues. 4. Seed funding deals were on the top spot with four deals while debt deals are in second position forming around 57% of the total funding. Further, Pre-Series A and Series A are next on the list among others. 5. Nine early-stage startups scooped funding worth $22.71 million during the week. Sustainable packaging startup Bambrew spearheaded the list followed by branded franchised retail chain SuperK, AI security and risk management startup SydeLabs, crypto exchange Nomoex Global, and proptech firm Aeria. The list further includes logistics solutions provider JustDeliveries, agritech startup Elevate Foods, AI-powered deep tech startup Daakia, and B2B footwear marketplace Kaarigar Mandi. 6. Among the growth-stage deals, seven startups raised $103.43 million in funding this week. Vernacular social media platform ShareChat led the list with $49 million debt funding. The list was followed by three fintech firms namely Aye Finance, Sindhuja Microcredit, and KreditBee which raised $16.5 million, $14.5 million, and $9.4 million funding, respectively. 7. Further, adtech startup AdOnMo, IPO-bound MobiKwik, and cybersecurity startup TAC Security also secured funds this week. Stay Updated. Stay Informed. Stay Ahead. Share Medial App within your network and friends to grow this community. Please rate us on iOS AppStore/ Google Play Store to help us be visible to more awesome folks like you! New Features Coming Soon. Complete/Update Your Profiles!
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