ENA Sectors 2024-06-17 14:02:05 <p><span style="font-size:14px"><strong>New Delhi, Jun 17 (KNN)</strong> The Indian startup ecosystem has experienced a substantial resurgence in fundraising activity this week, with startups collectively securing approximately USD 202 million across 21 deals.</span></p> <p><span style="font-size:14px">This marks a notable increase of more than 100 per cent compared to the previous week's figures, which saw roughly USD 98 million raised through 10 deals.</span></p> <p><span style="font-size:14px">Cleantech startups continued to dominate the funding landscape, with electric vehicle startup Battery Smart leading the pack.</span></p> <p><span style="font-size:14px">The company successfully raised USD 65 million in a round led by LeapFrog Investments, with participation from both new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures, and British International Investment.</span></p> <p><span style="font-size:14px">In the direct-to-consumer (D2C) sector, skincare firm Foxtale attracted USD 18 million in a funding round spearheaded by Singapore-based Panthera Growth Partners.</span></p> <p><span style="font-size:14px">Similarly, beauty and makeup brand Renee Cosmetics secured Rs 100 crore (approximately USD 12 million) in a Series B round, primarily from existing investors Evolvence India and Edelweiss Group. This latest infusion of capital values Renee Cosmetics between Rs 1,200-1,400 crore.</span></p> <p><span style="font-size:14px">In a significant development for the quick commerce sector, sources indicate that grocery delivery platform Zepto is poised to raise nearly USD 650 million from a combination of existing and new investors.</span></p> <p><span style="font-size:14px">If successful, this funding round could elevate Zepto's valuation to around USD 3.5 billion, further intensifying competition with rival Blinkit.</span></p> <p><span style="font-size:14px">Zepto has also expressed intentions to pursue an initial public offering (IPO) within the next two to three years.</span></p> <p><span style="font-size:14px">This week's funding activity underscores the resilience and growing investor confidence in India's startup ecosystem, despite global economic uncertainties.</span></p> <p><span style="font-size:14px">The diverse range of sectors attracting investment&mdash;from cleantech to beauty and quick commerce&mdash;highlights the multifaceted nature of India's entrepreneurial landscape.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38229 https://knnindia.co.in/news/newsdetails/sectors/indian-startup-ecosystem-raises-over-200-million-funds-last-week 2024-06-17 14:02:05 knnindia.co.in