Over $ 548 million was raised by the Indian startups ranging from Zepto to Open
- ByStartupStory | May 7, 2022
Indian startups like Open, Zepto, Redcliffe Lifetech, Element5 and so on have raised approximately $ 548 million across 22 deals in the first week of May. April ended up being a low funding month but the month of May ha started with a slight rise in the funding from 2nd May to 6th May. It has seen 76% rise from the previous week’s funding in which startups across the diverse sectors managed to raise $ 309 million with 29 deals.
After a plain week of April in terms of unicorn(s) produced, the country saw its 100th Unicorn in the first week as neobanking startup Open raised $ 50 million priced at a billion-dollar valuation. This week also saw that Zomato’s Deepinder Goyal announced the donation of $ 90 million to Zomato Future Foundation for the welfare of children of Zomato partners.
This week saw a total of 5 acquisitions witnessing upGrad acquiring the International School of Engineering (INSOFE). Some of the prominent investors who emerged to be the busiest investor of the week were Tiger Global who invested in three deals followed by Sequoia Capital India, IIFL and Multiply Ventures who invested in two deals each.
Along with them, Accel partners also rolled out four cheques with Tiger Global, Sequoia Capital, Matrix Partners and 3one4 Capital have also shown participation in two deals during this week.
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