A landmark funding week saw 32 Indian startups secure over $341 million, which notably included renewable energy firm BluPine and EV startups Simple Energy and Kinetic Green, underscoring a tectonic shift in India's startup ecosystem
The Indian startup ecosystem saw six growth-stage funding deals and 22 early-stage deals last week. Six startups raised over $216 million, led by mobility startup Rapido, which secured $120 million.
Among other notable Indian startups raising substantial funds were Renewable energy firm BluPine and EV startups Simple Energy and Kinetic Green. Fintech firms Navi and BharatPe and sports tech company KheloMore too raised significant funds. Meanwhile, the government has empowered more than 10,000 technology startups through various schemes in the last five years, disbursing a total of Rs 580 crores through incubators to over 3,600 tech startups.
The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 1,40,803 entities as startups through flagship schemes such as Fund of Funds for Startups, Startup India Seed Fund Scheme and Credit Guarantee Scheme for Startups helping startups raise investments from angel investors or venture capitalists.