India’s Startup Funding Soars 226% To $596 Million This Week

A notable highlight was the quick-commerce platform Zepto, which raised $350 million in a funding round led by Motilal Oswal’s private wealth division

The Indian startup ecosystem saw a remarkable rebound this week, with funding rising 226 per cent to around $596 million. In comparison, the previous week saw 24 Indian startups secure approximately $182.62 million, driven by three growth-stage deals and 19 early-stage deals.

From November 18-23, 23 startups raised $596 million, including six growth-stage deals and 15 early-stage deals. A notable highlight was the quick-commerce platform Zepto, which raised $350 million in a funding round led by Motilal Oswal’s private wealth division. With this investment, Zepto has attracted more than $1.3 billion in funding over the past five months, reflecting the rapid growth of the quick-commerce sector in India.

Omnichannel nutrition platform HealthKart raised $153 million in a funding round led by ChrysCapital and Motilal Oswal Alternates. Neo Group and HealthKart’s existing investor, A91 Partners, also participated in the round. In addition to this significant funding, HealthKart announced its first-ever employee ESOP (Employee Stock Option Plan) buyback, valued at Rs 55 crore (approximately $6.5 million).

Zopper, India’s leading insurtech platform, secured $25 million in a Series D funding round, co-led by Elevation Capital and Dharana Capital. Existing investor Blume Ventures also participated, alongside other backers such as Creaegis, Bessemer Venture Partners, and ICICI Venture, further bolstering Zopper’s position in the market.

Doodhvale Farms, an innovator in the premium dairy sector, successfully closed a $3 million funding round. This round was led by Atomic Capital, with Singularity Early Opportunities Fund joining as a significant co-investor, reflecting the growing interest in India’s dairy innovation space.

Among the various regions, Bengaluru-based startups led the way with 10 deals, followed by Delhi-NCR, Mumbai, Chennai, Pune, and Hyderabad, showcasing the diverse startup ecosystem nationwide.

Over the past eight weeks, the average weekly funding raised at around $266.77 million, with approximately 25 deals each week. By October 2024, Indian startups had already raised nearly $10 billion in funding, positioning them to exceed last year's total funding of $10.5 billion.