Indian Startups Raise $220M in a Week, Led by Rapido’s $200M Round

Indian startups raised approximately $220.3 million between August 31 and September 6, marking a 52% increase compared to the same period last year. However, this figure reflects a 50.2% drop from the previous week’s $442.8 million. The latest data reveals that 12 funding rounds were completed this week, compared to 29 rounds in the corresponding period last year, which saw $145 million raised.

The majority of this week’s funding was driven by a $200 million round from mobility startup Rapido, backed by WestBridge Capital, contributing over 90% of the total amount raised.

Top Funding Rounds:

1. Rapido: Bengaluru-based mobility startup Rapido raised $200 million, propelling its valuation to $1.1 billion and securing its place in the unicorn club. The round was led by WestBridge Capital.
2. Nutrabay: Direct-to-consumer sports nutrition brand Nutrabay secured $5 million in its Series A funding, led by RPSG Capital Ventures, with Kotak Alternate Asset Managers Limited also participating.
3. The Hosteller: Backpacker hostel chain The Hosteller raised $3.8 million at a $25 million valuation in a round led by V3 Ventures, with support from existing investors like LV Angel Fund, FAO Ventures, and Synergy Capital Partners.
4. RecommerceX: Sustainability startup RecommerceX raised $3.6 million in seed funding led by Accel and Kae Capital. The company focuses on chemical recycling and sustainability.
5. BigEndian Semiconductors: Fabless semiconductor design startup BigEndian Semiconductors raised $3 million, led by Vertex Ventures SEA & India.