From CRED To Square Yards — Indian Startups Raised $1.1 Bn This Week
by Lokesh Choudhary · Inc42SUMMARY
- With CRED alone accounting for over $900 Mn, fintech dominated the funding charts this week as the sector raised $902 Mn across two deals
- Seed-stage funding came in at $35.3 Mn across four deals this week, skewed heavily by Hang Ten's $32 Mn raise. Barring this, early-stage activity remained muted at $3.3 Mn across three deals
- Bessemer Venture Partners was the most active investor of the week, backing three startups, namely Square Yards, AllHome, and Mitigata
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Indian startups cumulatively raised more than $1.1 Bn across 16 deals between June 21 and June 26, a massive 2.5X jump from the $426 Mn secured across 19 deals last week.
The sizable uptick came primarily on the back of CRED’s $900 Mn Series H fundraise — the largest single funding deal of the year.
The week also saw Square Yards emerge as the 131st Indian unicorn, propelling real estate sector in the top of the funding charts of the week