The Indian startup ecosystem saw $113 million in funding this week

New Delhi, August 10 (IANS): Riding on the back of steady economic growth, the Indian startup ecosystem saw $113 million in funding across nearly 22 deals this week.

Dairy and food startup Country Delight has raised $8.45 million in debt financing from Alteria Capital. In May of this year, Country Delight raised $9 million in a combination of debt and equity from Alteria Capital.

Healthtech startup Visit Health has raised over $29.8 million in a mix of capital from a variety of investors. Extended Reality (XR) startup Metadome.ai (formerly Adloid) also raised $6.5 million in Series A funding in an equity and debt round led by Sian Capita and existing investor Chiratae Ventures.

Ola Electric made its stock market debut this week, with its shares hitting a top 20 per cent on the day of listing. The shares closed at Rs 91.18 apiece — a 19.97 per cent premium — and Rs 91.20 a share on the NSE, a 20 per cent premium.

Ola Electric’s market capitalisation stood at Rs 40,217.95 crore on BSE.

Last week, at least 32 Indian startups raised over $341 million in funding. The Indian startup ecosystem saw six growth-stage funding deals and 22 early-stage deals.

According to the government, as of June 30, DPIIT had recognised 1,40,803 entities as startups.

Since the launch of the Startup India initiative in 2016, DPIIT-recognized startups have created over 15.53 lakh direct jobs. Additionally, 67,499 recognized startups have at least one woman director.

The Centre has unveiled a ‘Startup Action Plan’, consisting of programmes and incentives aimed at creating a vibrant startup ecosystem in the country.

The action plan consists of 19 points covering areas such as “Simplification and assistance”, “Financial support and incentives” and “Partnership and incubation of industry and academia”.

Various government programs have helped startups raise investment from angel investors or venture capitalists or take out loans.

The Centre recently reported that over 10,000 technology start-ups have received funding totalling Rs 580 crore through incubators.