36 Indian startups raise a whopping $628 million in funding this week, up 174%

The Indian startup ecosystem saw a massive funding inflow this week with 36 startups raising over $628.24 million, a whopping 174.5 per cent increase over the previous week.

The funding drive was led by edtech firm Physics Wallah (PW), which raised $210 billion in a Series B funding round that raised the company’s valuation to $2.8 billion. The round was led by Hornbill Capital, with significant participation from Lightspeed Venture Partners and existing investors GSV and WestBridge.

This week, 14 growth stage deals and 17 early stage deals were closed, reflecting the positive investment environment in the country.

According to a report by Entrackr, SaaS digital adoption solutions provider Whatfix has raised $100 million. However, the company has not yet publicly disclosed the funding.

API infrastructure platform M2P Fintech raised $50 million, multi-channel diagnostics provider Redcliffe raised $42 million and digital infrastructure company iBUS raised $34 million.

Fleet management company Everest Fleet has raised $30 million as part of its ongoing $50 million Series C funding round, which will enable it to scale its operations and expand its fleet of clean energy vehicles, including CNG and electric vehicles (EVs).

Vahan.ai, an AI-powered recruiting platform, announced a $10 million Series B funding round led by Khosla Ventures. The funds will be used to develop AI recruiting technology that supports eight major Indian languages.

Bengaluru-based startups recorded 12 deals this week, followed by Delhi-NCR, Mumbai, Chennai and Hyderabad.

Last week, 24 domestic startups secured over $229 million in funding, including six growth-stage deals valued at $182.65 million. This week, 13 early-stage deals were closed valued at $46.14 million.

Average funding over the past eight weeks was approximately $393 million, with 28 deals per week.