TLDR:
Indian startups saw a marginal decline in venture capital inflow in the first week of March, raising a total of $213 million across 23 deals. Debt investments gained traction, with startups focusing on consistent revenue and profitability. VC firms like Colossa and Getvantage are raising fresh capital to focus on women-led companies.
Key Points:
- Indian startups raised $213 million in funding in the first week of March across 23 deals.
- Debt investments gained traction, with startups focusing on revenue and profitability.
The first week of March saw a slight dip in venture capital (VC) funding into Indian startups, but it remained steady as the total funding amount for the week crossed the $200 million level. This week, debt investments got the strongest traction as startups continue to rely on this financing route to raise capital. Venture debt capital is also going to those startups that have shown consistent revenue flow with a clear path towards profitability. VC funding crossed the $200 million mark only in the past two weeks. VC firms like Colossa and Getvantage are raising fresh capital to focus only on women-led companies. The total VC funding in February 2024 rose 21% year-on-year to stand at $890 million, cutting across 114 deals.
Key transactions included:
- Lending platform mPokket raised Rs 500 crore (about $60.4 million) in debt capital.
- The Ayurveda Experience raised $27 million from Jungle Ventures.
- Identity verification services provider IDfy raised $27 million.
- Rural ecommerce startup Rozana raised $22.5 million.
- B2B startup Zetwerk raised $20 million.
- Business platform Exly raised $6.2 million.
