Weekly Funding Report For May First Week

Weekly Funding Report For May First Week

The first week of May started off on a positive note with regard to venture funding for Indian startups. Enterprise-driven firms raised reasonable amounts of capital despite the current macroeconomic environment.

Across 21 deals, the total venture funding made in the first week of May was $184 million. Compared to the last week of April, where $124 million was raised, more venture funding was presented at the beginning of May.

Early-stage Transactions

BluSmart Mobility, Ace Turtle, and Pando were three startups that secured funding of over $30 million. This signifies a rise in investors' shift towards focusing on smaller early-stage deals. Other startups raised significant amounts as well, led by THB raising $20 million, PocketFM raising $16 million, and Zeslto raising $6.5 million. You can refer to the table for more information. 

S. No.

Startup Name

Segment

Million Dollars Raised in USD

1.

BluSmart

Mobility

42

2.

Ace Turtle

Tech

34

3.

Pando

Supply Chain Software

30

4.

THB

Healthcare SaaS

20

5.

PocketFM

Audio OTT

16

6.

ZestloT

Tech

6.5

7.

Kiwi

Credit Card Platform

6

8.

Beyoung

Fashion

4.8

9.

Property.Pistol

Proptech

5.5

Though investment shows signs of economic growth and eradication of economic problems, companies like Meesho, Cognizant, and Teachmint are laying off employees.

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