From River Mobility To BlissClub — Indian Startups Raised $274 Mn This Week

Indian startup funding surged in the first week of August, with 22 startups raising a total of $274.4 million. This represents a significant 74% increase compared to the $142.3 million raised in the previous week across 11 deals. Among the startups that raised the most money was River Mobility, an electric vehicle company, which secured $120 million in Series C funding.

Cleantech dominated the funding landscape, with four startups in the sector collectively raising $136 million. The AI segment also saw substantial investment, with seven startups raising $23.3 million during the week. Seed stage funding saw a decline of 35% compared to the previous week, as five early-stage ventures raised a total of $7.7 million.

DeVC stood out as the most active investor of the week, backing three startups. Other notable investors included Singularity AMC and Stellaris Venture Partners, which each backed two startups. A significant corporate development occurred when Reliance Retail acquired the fashion discovery platform Furrl to enhance its AI styling features on its platform.

Times Network, a media company, also made headlines by acquiring the fintech startup OpiGo to broaden its financial services. Additionally, Imarticus Learning, a learning management company, acquired BELLS Institute of Higher Learning in Singapore, while logistics tech company LEAP India opened its ₹2,480 crore IPO, which was heavily subscribed on the first day.