Riding the wave of steady economic growth, the Indian startup scene closed around 22 deals this week, bringing in $113 million in capital.
Alteria Capital provided $8.45 million in debt capital to Country Delight, a dairy and retail business. Country Delight obtained $9 million from Alteria Capital in May of this year using a combination of financing and stock.
A variety of investors contributed around $29.8 million to the healthtech venture Visit Health. In addition, Siana Capita and current investor Chiratae Ventures led a $6.5 million Series A financing round for the extended reality (XR) business Metadome.ai (previously Adloid).
This week, Ola Electric debuted on the public market, and on the day of listing, its share crossed the 20% upper circuit. The closing prices of the shares were Rs 91.18 each, representing a 19.97% premium, and Rs 91.20 per share on the NSE, representing a 20% premium.
According to the BSE, Ola Electric’s market capitalisation was Rs 40,217.95 crore.
At least 32 Indian firms had raised more than $341 million in funding as of last week. There were 22 early-stage investment deals and six growth-stage funding deals in the Indian startup ecosystem.
As of June 30, 1,40,803 businesses were recognised by DPIIT as startups, according to the government.
Over 15.53 lakh direct jobs have been created by DPIIT-recognized firms since the “Startup India” initiative’s inception in 2016. Furthermore, at least one woman serves as a director of 67,499 recognised startups.
The Centre released a “Action Plan for Startups” that includes programs and rewards designed to develop a thriving startup ecosystem throughout the nation.
The Action Plan consists of 19 action items that cover a variety of topics, including “Industry-academia partnership and incubation,” “Funding support and incentives,” and “Simplification and handholding.”
Numerous government initiatives have aided entrepreneurs in obtaining loans or raising funding from venture capitalists or angel investors.
More than 10,000 technology businesses have been enabled with a total capital of Rs 580 crore through incubators, according to new information from the Centre.
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