Funding in the Indian startup ecosystem seems to have accelerated further with over $250 million raised on Tuesday alone.
Mohalla Tech, the parent company of Moj and ShareChat, raised $145 million as an extension of its Series F round. This is an additional investment beyond the $502 million raised earlier in April, which marked its entry into the unicorn club. At present, the company’s valuation is at $2.8 billion.
Travel app ixigo raised $53 million through a combination of primary and secondary issuance of shares from investors ahead of its initial public offering (IPO), with the travel company planning a Rs 1,500-1,800-crore public float.
D2C beauty brand MyGlamm also made headlines after it raised Rs 355 crore [approximately $47 million] in fresh funding from Accel Partners, along with participation from existing investors. With the latest fundraise, MyGlamm closed its Series C round with a total of Rs 530 crore.
The day also saw a host of other noteworthy funding deals — Ahmedabad-based medtech company Axio Biosolutions raised $6 million, intercity mobility startup Zingbus raised Rs 44.6 crore [approximately $5 million], social gaming startup Eloelo raised $2.1 million, and Edukemy raised $2 million.
The Indian startup ecosystem has been on a roll this year. In H1 alone, Indian startup funding touched $10.15 billion, already exceeding the $9.94 billion raised in the entirety of 2020.
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