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.
