Weekly funding roundup April 20–26: Indian startups raised $172 million last week, ranging from Northern Arc to Dhruva Aerospace

Between April 22 and April 27, Indian startups raised a total of $172.6 million in 21 agreements. Fintech took the lead this week, with entrepreneurs in the area raising $88.5 million through three acquisitions. Seed funding increased by 29% this week to $33.9 million, up from $26.2 million last week.

After two weeks of strong investment activity in the Indian startup ecosystem, financing stayed flat between April 22 and April 27. During the week, startups raised a total of $172.6 million across 21 agreements, a 33% decrease from the previous week’s $260.1 million secured over 31 deals.

Investing Spree: Indian Startup Investment of the Week [April 22–April 27]

Key Startup Funding Highlights for the Week

The biggest fundraising of the week was accomplished on April 25 when International Finance Corporation (IFC) granted $80 million in equal parts debt and equity components to Northern Arc, a non-banking lender headed for an IPO.

Northern Arc’s funding helped the fintech sector maintain its sectoral dominance. Startups in the industry raised $88.5 million in three deals, up 18% from the previous week’s $74.8 million in five deals.

E-commerce topped the transaction chart this week, with startups generating $29.8 million in five deals.

Along with Cred’s Kunal Shah, Blue Ashva Capital, Titan Capital, Venture Catalysts, and others secured the title of active investors over the week by supporting two firms apiece.

During the week, two startups backed by each of Blue Ashva Capital, Titan Capital, Venture Catalysts, and Kunal Shah of Cred secured the title of active investors.

Seed funding continues to rise, with early-stage startups raising $33.9 million this week. This represents a 29% increase over last week’s $26.2 million.

Updates on the Indian Startup IPOS

The foodtech giant filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Thursday, April 26, in a confidential manner following the approval of its shareholders for a massive $1.2 billion initial public offering (IPO) earlier this week.

Despite gaining approval from the SEBI for a $500 million IPO last month, kids-focused omnichannel retailer Firstcry is reportedly planning to postpone its public market debut. The company will now resubmit the DRHP with revised financial data and key performance indicators for the quarter ending December 2023.

The markets regulator has approved the IPOs of Peak XV-backed coworking space company Awfis and B2B travel platform Travel Boutique Online, also known as TBO Tek.

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