Funding activity in the Indian startup ecosystem saw a significant decline last week compared to the preceding period, with startups collectively raising $112.9 million across 22 deals between August 5-10. This marks a near 50% drop from the $222.2 million secured through 25 deals in the week before.
While investment momentum took a hit at a broader level, it was still an eventful week for Indian entrepreneurs and investors. Telehealth startup Visit Health clinched the largest funding round of $29.8 million to further scale its operations. Business software firms also remained an appealing sector for backers, with six such companies together raising $17.9 million.
Health technology emerged as a major recipient of capital, with three players in this industry raking in a combined total of $35.1 million. Enterprise technology continued its run as an investor favourite, seeing the most number of deals signed in the period under review. Seed stage funding also saw an uptick compared to the previous week.
Two notable developments brought optimism. Ola Electric debuted on the stock exchanges, while digital marketplace FirstCry and B2B commerce startup Unicommerce are poised for listings early next week. Meanwhile, individual deal makers like Omnivore VC and CRED founder Kunal Shah stood out by backing two startups each through their participation.
