New Delhi: The home startup ecosystem raised greater than $145 million, as investor confidence is reviving within the nation with regards to VC funding. Publicly-listed gaming agency Nazara raised $101.3 million by way of a preferential share challenge, led by traders like SBI Mutual Fund, Caratlane founder Mithun Sacheti, and Aamara Capital.
ShopDeck, a direct-to-consumer (D2C) e-commerce enabler, raised $8 million in funding led by Bessemer Venture Partners, with participation from Elevation Capital, Venture Highway, and Chiratae Ventures. ShopDeck empowers sellers throughout classes, together with clothes, jewelry, footwear, and residential decor, driving over $150 million in annual gross sales.
MSME-focused digital lender NeoGrowth raised as much as Rs 42 crore (practically $5 million) in debt funding from UTI International Wealth Creator. Elchemy, a tech-driven cross-border speciality chemical distribution platform, secured a $5.6 million Series A funding spherical. The spherical was led by Prime Venture Partners, together with participation from current investor InfoEdge Ventures.
Ukhi, a pioneering biomaterials startup, secured $1.2 million in pre-seed funding to speed up its mission to develop novel, biodegradable, and compostable biomaterials geared toward reworking the sustainable packaging trade.
A complete of 984 enterprise capital (VC) funding offers had been introduced in India throughout January-October 2024, which was a year-on-year (YoY) enchancment of 5.8 per cent in deal quantity. The whole disclosed funding worth of those offers jumped by 44.4 per cent YoY to $9.2 billion throughout the identical interval, in accordance with GlobalData, a number one information and analytics firm.
Investor confidence appears to be reviving as India demonstrates vital enchancment in VC funding exercise through the 12 months in comparison with peer international locations, the report talked about. India accounted for 7.1 per cent share of the overall variety of VC offers introduced globally throughout January-October 2024.
Content Source: zeenews.india.com