Between May 19 and 24, Indian startups cumulatively raised $231.7 Mn across 16 deals, marking a 53% uptick from the $151.6 Mn raised across 24 deals in the preceding week
While cleantech emerged as the investor favourite sector this week with three startups raising $89 Mn, fintech and ecommerce sectors also three deals materialise this week
UK’s British International Investment emerged as the most active investor this week, backing Euler Motors and CureBay
Investment activity across the Indian startup ecosystem rebounded after a major slump over the past week.
With fresh capital influx and multiple fund launches taking the front seat, startups cumulatively bagged $231.7 Mn across 16 deals between May 19 and 24, marking a 53% uptick from the $151.6 Mn raised across 24 deals in the preceding week.
Besides, startup IPO was among key developments hogging the limelight in the week under the review. With that said, let’s sail through this week’s major developments in the Indian startup ecosystem.
Funding Galore: Indian Startup Funding Of The Week [ May 19 – 23 ]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 19 May 2025 | Euler Motors | Cleantech | Electric Vehicles | B2B | $75 Mn | Series D | Hero MotoCorp, British International Investment | Hero MotoCorp |
| 22 May 2025 | Oxyzo | Fintech | Lending Tech | B2B | $62.4 Mn | Debt | Neo Group | Neo Group |
| 20 May 2025 | CureBay | Healthtech | Telemedicine | B2C | $21 Mn | Series B | Bertelsmann India Investments, Elevar Equity, British International Investment | Bertelsmann India Investments |
| 20 May 2025 | CloudSEK | Enterprise Tech | Horizontal SaaS | B2B | $19 Mn | Series A2 | MassMutual Ventures, Inflexor Ventures, Prana Ventures, Tenacity Ventures, Commvault, Meeran Family, StartupXSeed, Neon Fund, Exfinity Ventures | – |
| 21 May 2025 | Mythik | Media & Entertainment | Digital Media | B2C | $15 Mn | Seed | Sakal Media Group, BITKRAFT, VC Grid, Visceral Capital, Shah Rukh Khan Family Office, Patni Family Office | – |
| 22 May 2025 | Alt Carbon | Cleantech | Climate Tech | B2B | $12 Mn | Seed | Lachy Groom, Jason Zhao, Amrendra Singh, Tanmay Bhat, Arjun Soin, Nakuul Mehta, Arjun Ramani, Advaith Vishwanath, Rahul Seth | Lachy Groom |
| 22 May 2025 | Data Sutram | Enterprise Tech | Horizontal SaaS | B2B | $9 Mn*** | Series A | Lightspeed Venture Partners, B Capital | Lightspeed Venture Partners, B Capital |
| 20 May 2025 | Miraggio | Ecommerce | D2C | B2C | $6.5 Mn | Series A | RPSG Capital Ventures, Client Associates Alternate Fund, Prath Ventures | RPSG Capital Ventures, Client Associates Alternate Fund |
| 22 May 2025 | Shuru | Consumer Services | Hyperlocal Services | B2C | $3.4 Mn | – | KRAFTON, Omidyar Network India, Eximius Ventures | KRAFTON |
| 20 May 2025 | Tan90 Thermal Solutions | Logistics | Storage Services | B2B | $2.3 Mn | Series A | NABVENTURES, Blue Ashva Capital, Capital-A, 3i Partners | NABVENTURES |
| 23 May 2025 | Borderless | Fintech | Investment Tech | B2C | $2.3 Mn* | – | Equirus, Credence Family Office, July Ventures | Equirus Credence Family Office |
| 22 May 2025 | Promethean Energy | Cleantech | Climate Tech | B2B | $2 Mn | Pre-Series A | Transition VC, Sangam Venture, Sagana Capital, Fondation Botnar | Transition VC |
| 20 May 2025 | PaySprint | Fintech | Fintech SaaS | B2B | $1.2 Mn* | Series A | – | – |
| 20 May 2025 | Misfits | Consumer Services | Hyperlocal Services | B2C | $586K | Seed | Info Edge Ventures, Better Capital | Info Edge Ventures, Better Capital |
| 22 May 2025 | BlackCarrot | Ecommerce | D2C | B2C | – | Pre-Seed | Venture Catalysts, We Founder Circle, EvolveX Accelerator, GX Ventures, Suraj Nalin, Neha Dhupia, Agnello Dias | Venture Catalyst |
| 21 May 2025 | The Sock Street | Ecommerce | D2C | B2C | – | – | Knit World Inc | Knit World Inc |
| Source: Inc42 *Part of a larger round **Included this week as it was skipped last week *** Includes both primary and secondary deal Note: Only disclosed funding rounds have been included |
||||||||
Key Startup Funding Highlights Of The Week
- EV manufacturer Euler Motors pocketed the biggest cheque of $75 Mn this week. On the back of this large-ticket deal, cleantech clinched the top slot in the most funded startup segment this week. Besides, two other startups in the space – Alt Carbon and Promethean Energy – also raised $12 Mn and $2 Mn, respectively.
- At a sectoral level, fintech and ecommerce witnessed a similar number of deals as cleantech this week. While fintech raked in $65.9 Mn across three deals, three ecommerce startups managed to scoop up $6.5 Mn.
- UK’s British International Investment emerged as the most active investor this week, backing Euler Motors and CureBay.
- At the seed stage, although four startups secured $27.6 Mn this week but it was a 7% decline from the previous week.
Fund Updates Of The Week
Startup IPO Developments This Week
Other Developments Of The Week
