Funding and acquisitions in Indian startups this week [22-27 May]


This week, 18 Indian startups raised funding of over $227 million. PhonePe and Chalo were the top fundraising startups that scooped up $100 million and $45 million respectively.

Meanwhile, the details of one startup remained undisclosed. 

Growth/late-stage deals 

This week, five growth and late startups raised funding. PhonePe led the pack with a $100 million round followed by Chalo and Hopscotch.


Details of the 18 funding rounds can be found here.

Early-stage deals 

As many as 13 early-stage startups have raised funds, including one undisclosed round. Fintech startup XFlow was at the top with its $10.2 million round. The list also features, Thena and Ulipsu, among others.    

City and segment-wise deals    

This week, Bengaluru-based startups dominated the funding chart. According to Fintrackr’s data, 10 Bengaluru-based startups raised funds this week amounting to $123.2 million or 54.32% of the total funding. During the week, Mumbai and Pune-based startups saw two deals each.

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


Fintech startups led in terms of the number of deals and amount raised. E-commerce (including D2C brands) and AI startups were next on the list.


Apart from fundraising, this week also saw two mergers and acquisition. Fintech startup FinFont Infotech LLP was acquired by Yubi and CarLelo got acquired by Capri Loans. 

Fund launches

This week also saw two fund launches as QED and Physics Capital closed their new fund worth $925 million and $7 million respectively. 


This week, Airmeet fired around 30% of employees from its total workforce.

*Back next week with another deal roundup

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