From GIVA To EloElo Group — Indian Startups Raised $255 Mn This Week

This week saw a surge in startup funding activity in India, with 20 Indian startups raising a total of $255 million between November 2 and 6. This represents a significant 96% increase from the $130.3 million raised in the previous week; however, the number of deals decreased by 38%, from 32 to 20. The most notable funding round was GIVA's $103 million, which was led by Alternate Asset Management, Epiq Capital, and Edelweiss Discovery Fund.

EloElo Group, another Indian startup, raised $80 million in a Series C round, backed by major investors such as NBCUniversal and Hornbill Capital. Notable investments were also made in the DeepTech sector, with four startups in the advanced hardware and technology segment raising a combined $21 million. The week also saw significant developments in wealth management and consumer-focused startups, including the launch of Daksham Capital's maiden consumer-focused fund and Razorpay's IPO, which is expected to value the company at around ₹47,000 crore.