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From Snitch To Stable Money — Indian Startups Raised $134 Mn This Week
- The Indian startup ecosystem witnessed a 45% uptick as startups raised $134.4 Mn across 16 deals in the first week of June, with funding mainly in ecommerce and fintech sectors.
- Key funding rounds included Snitch raising $40 Mn in a Series B round, Udaan securing $39 Mn in Series G, and Stable Money raising $20 Mn in a Series B round.
- Other notable fundings were received by startups like LoanTap, GyanDhan, and Plush in the fintech and ecommerce spaces.
- Healthtech startup Biopeak secured $3.5 Mn in seed funding, while Decentro, a fintech SaaS startup, raised the same amount in a Series B round.
- Startup IPO developments included Lenskart preparing for a $1 Bn IPO, Moneyview's $400 Mn IPO, and Aequs pre-filing IPO papers to raise $200 Mn.
- Groww announced its Series F funding of $202.3 Mn, while Nazara acquired Smaaash for INR 126 Cr and Zaggle planned to acquire Dice Enterprises for INR 123 Cr.
- Pepperfry is set to raise $5 Mn from existing investors like General Electric and Goldman Sachs to support its growth and expansion.
- The funding activity in the Indian startup ecosystem showcased variations with Udaan, Snitch, and fintech startups leading the capital infusion trends.
- This week saw a significant rise in seed stage fundings, with seven startups raising $7.7 Mn, compared to $3.2 Mn in the previous week.
- Overall, the funding landscape in India's startup sector saw a mix of fintech, ecommerce, and healthtech startups attracting investments, signaling recovery and growth.
- The volatility in funding trends and IPO developments highlighted the resilience and adaptability of Indian startups amidst changing market conditions.
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