The funding season in the Indian startup ecosystem continued its momentum this week, as startups cumulatively raised over $308 million across 24 deals. The funding momentum continues as the 'Startup India' initiative completes nine successful years.
From tech-driven solutions to rural innovations, healthcare advancements to biotech breakthroughs, fintech to edtech and clean energy to sustainable technology, Indian startups are solving global challenges, as well as creating employment opportunities. And promoting our quest towards self-reliance.
There are now more than 1.59 lakh startups in the country that have been recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). This week, Netredyne, an industry-leading SaaS provider of artificial intelligence (AI) and edge computing, announced $90 million in Series D funding led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital.
The capital infusion will accelerate the company's growth as it includes strategic investments in R&D, increased market exposure and aggressive expansion globally.
Foxtail, a homegrown D2C skincare brand, successfully raised $30 million in its Series C funding round, which saw participation from Japanese multinational KOSE Corporation, along with continued support from Panthera Growth Partners, Z47 and KE Capital.
Meanwhile, early-stage venture capital firm 100X.VC invested $2.7 million in 18 domestic startups as part of its 12th cohort.
On January 16, India completed nine years of 'Startup India', a transformational journey that began in 2016. Named as 'National Startup Day', the occasion celebrates the country's progress in fostering a strong and inclusive entrepreneurial ecosystem. From 2016 to October 31, 2024, the recognized startups have reportedly created more than 16.6 lakh direct jobs, contributing significantly to employment generation.
Major hubs such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR have led this transformation, while smaller cities have increasingly contributed to the country's entrepreneurial momentum.
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