Between May 19 and 24, Indian startups cumulatively raised $231.7 Mn across 16 deals, marking a 53% uptick from the $151.6 Mn raised across 24 deals in the preceding week
While cleantech emerged as the investor favourite sector this week with three startups raising $89 Mn, fintech and ecommerce sectors also three deals materialise this week
UK’s British International Investment emerged as the most active investor this week, backing Euler Motors and CureBay
Investment activity across the Indian startup ecosystem rebounded after a major slump over the past week.
With fresh capital influx and multiple fund launches taking the front seat, startups cumulatively bagged $231.7 Mn across 16 deals between May 19 and 24, marking a 53% uptick from the $151.6 Mn raised across 24 deals in the preceding week.
Besides, startup IPO was among key developments hogging the limelight in the week under the review. With that said, let’s sail through this week’s major developments in the Indian startup ecosystem.
Funding Galore: Indian Startup Funding Of The Week [ May 19 – 23 ]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
19 May 2025
Euler Motors
Cleantech
Electric Vehicles
B2B
$75 Mn
Series D
Hero MotoCorp, British International Investment
Hero MotoCorp
22 May 2025
Oxyzo
Fintech
Lending Tech
B2B
$62.4 Mn
Debt
Neo Group
Neo Group
20 May 2025
CureBay
Healthtech
Telemedicine
B2C
$21 Mn
Series B
Bertelsmann India Investments, Elevar Equity, British International Investment
Bertelsmann India Investments
20 May 2025
CloudSEK
Enterprise Tech
Horizontal SaaS
B2B
$19 Mn
Series A2
MassMutual Ventures, Inflexor Ventures, Prana Ventures, Tenacity Ventures, Commvault, Meeran Family, StartupXSeed, Neon Fund, Exfinity Ventures
–
21 May 2025
Mythik
Media & Entertainment
Digital Media
B2C
$15 Mn
Seed
Sakal Media Group, BITKRAFT, VC Grid, Visceral Capital, Shah Rukh Khan Family Office, Patni Family Office
–
22 May 2025
Alt Carbon
Cleantech
Climate Tech
B2B
$12 Mn
Seed
Lachy Groom, Jason Zhao, Amrendra Singh, Tanmay Bhat, Arjun Soin, Nakuul Mehta, Arjun Ramani, Advaith Vishwanath, Rahul Seth
Lachy Groom
22 May 2025
Data Sutram
Enterprise Tech
Horizontal SaaS
B2B
$9 Mn***
Series A
Lightspeed Venture Partners, B Capital
Lightspeed Venture Partners, B Capital
20 May 2025
Miraggio
Ecommerce
D2C
B2C
$6.5 Mn
Series A
RPSG Capital Ventures, Client Associates Alternate Fund, Prath Ventures
RPSG Capital Ventures, Client Associates Alternate Fund
22 May 2025
Shuru
Consumer Services
Hyperlocal Services
B2C
$3.4 Mn
–
KRAFTON, Omidyar Network India, Eximius Ventures
KRAFTON
20 May 2025
Tan90 Thermal Solutions
Logistics
Storage Services
B2B
$2.3 Mn
Series A
NABVENTURES, Blue Ashva Capital, Capital-A, 3i Partners
NABVENTURES
23 May 2025
Borderless
Fintech
Investment Tech
B2C
$2.3 Mn*
–
Equirus, Credence Family Office, July Ventures
Equirus Credence Family Office
22 May 2025
Promethean Energy
Cleantech
Climate Tech
B2B
$2 Mn
Pre-Series A
Transition VC, Sangam Venture, Sagana Capital, Fondation Botnar
Transition VC
20 May 2025
PaySprint
Fintech
Fintech SaaS
B2B
$1.2 Mn*
Series A
–
–
20 May 2025
Misfits
Consumer Services
Hyperlocal Services
B2C
$586K
Seed
Info Edge Ventures, Better Capital
Info Edge Ventures, Better Capital
22 May 2025
BlackCarrot
Ecommerce
D2C
B2C
–
Pre-Seed
Venture Catalysts, We Founder Circle, EvolveX Accelerator, GX Ventures, Suraj Nalin, Neha Dhupia, Agnello Dias
Venture Catalyst
21 May 2025
The Sock Street
Ecommerce
D2C
B2C
–
–
Knit World Inc
Knit World Inc
Source: Inc42
*Part of a larger round
**Included this week as it was skipped last week
*** Includes both primary and secondary deal
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
EV manufacturer Euler Motors pocketed the biggest cheque of $75 Mn this week. On the back of this large-ticket deal, cleantech clinched the top slot in the most funded startup segment this week. Besides, two other startups in the space – Alt Carbon and Promethean Energy – also raised $12 Mn and $2 Mn, respectively.
At a sectoral level, fintech and ecommerce witnessed a similar number of deals as cleantech this week. While fintech raked in $65.9 Mn across three deals, three ecommerce startups managed to scoop up $6.5 Mn.
UK’s British International Investment emerged as the most active investor this week, backing Euler Motors and CureBay.
At the seed stage, although four startups secured $27.6 Mn this week but it was a 7% decline from the previous week.
Fund Updates Of The Week
Startup IPO Developments This Week
Other Developments Of The Week