Funding and acquisitions in Indian startups this week [01-06 May]

This week, 23 Indian startups raised funding of over $177 million. BluSmart Ace Turtle and Pando were the top fundraising startups that scooped up $42, $34 million and $30 million, respectively.

Meanwhile, the details of the two startups remained undisclosed. 

Growth/late-stage deals 

This week, four growth and late startups raised funding. Ace Turtle led the pack with a $34 million round followed by Pando’s $20 million round. 

Early-stage deals 

As many as 19 early-stage startups have raised funds, including one undisclosed round. EV startup BluSmart was at the top with its $42 million Series A round. The list also featuresZestIoT, Kiwi, PropertyPistol and Hypd, among others.    

City and segment-wise deals    

This week, Bengaluru-based startups dominated the funding chart. According to Fintrackr’s data, five Bengaluru-based startups raised funds this week amounting to $51 million or 36.8% of the total funding. During the week, Mumbai and Delhi-NCR-based startups saw four and three deals respectively.

The complete breakdown of deals across cities and segments in the first half can be seen below: 

EV startups led in terms of the number of deals and amount raised. SaaS, e-commerce (including D2C brands) and fintech startups were next on the list.

Acquisitions

Apart from fundraising, the week also saw six acquisitions. The list includes the acquisition of Trillion Loans by BharatPe, Myre Capital by Arm Proptech and UCare Health by Thriwe.

Layoffs

This week, two startups laid off their employees. Meesho fired 250 employees while Teachmint laid off around 70 employees.

*Back next week with another deal roundup