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HomeFunding & InvestmentIndian Startups Secure $1.47 Billion in August 2024, Marking an 89% Year-on-Year...

Indian Startups Secure $1.47 Billion in August 2024, Marking an 89% Year-on-Year Growth

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In August 2024, startups raised approximately $1.47 billion in funding, representing an 89% increase from the same month last year when they secured $779 million across 123 rounds. Most of the funding this month came from early and late-stage rounds, totaling 86 rounds, according to data from Tracxn, a private market intelligence platform. In comparison, July 2024 saw startups raising around $718 million through 72 rounds.

From August 24 to August 30, the deal value climbed to $442.8 million across 23 rounds, up from $351 million raised during the same period last year through 32 rounds. Key deals in August include:

Zepto: The Mumbai-based quick commerce firm Zepto raised $340 million from investors like General Catalyst, Mars Growth Capital, and Epiq Capital, bringing its total funding in the past two months to $1 billion. Zepto’s valuation has now surged to $5 billion.

DMI Finance: Delhi-based digital lending company DMI Finance secured $334 million from Mitsubishi UFG Financial Group through its subsidiary MUFG Bank.

Bluestone: Jewellery retailer Bluestone raised Rs 900 crore, doubling its valuation to Rs 8,100 crore as it prepares for an initial public offering (IPO).

Ather Energy: Electric scooter manufacturer Ather Energy received $71 million in funding from the National Investment and Infrastructure Fund (NIIF), elevating its valuation to $1.3 billion. This makes Ather Energy the fourth unicorn in India this year and the second in the mobility sector after Rapido.

Neo Group: Wealth and asset management startup Neo Group raised around $47.7 million in a fresh equity funding round led by MUFG Bank and New York-based Euclidean Capital, with participation from Peak XV Partners.

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