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Indian startups raised $366 million from Sept 23 to Sept 28, 2024; Whatfix tops the list

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  • Significant Funding Round: Between September 23 and September 28, 2024, 19 startups across various sectors raised over $366 million, following a prior week’s fundraising of $470 million, with notable contributions from PhysicsWallah, which raised $210 million alone.

  • Leading Sectors and High-Value Deals: The SaaS sector was particularly dominant with Whatfix raising $125 million in Series E funding, while AI healthcare startup Qure.ai secured $65 million. Other substantial investments included M2P Fintech’s $100 million in a Series D round and significant contributions from Nurix AI and HomeLane.

  • Emerging Startups and Smaller Rounds: Several early-stage startups received funding, including Sharang Shakti with $600,000, Flent with $770,000, and care.fi raising $950,000 in debt. A range of startups, from dairy-tech to B2B SaaS, saw funding from $1 million to $3 million during this period.

  • Mergers and Acquisitions Activity: The week also saw strategic mergers, including Zaggle acquiring a 98% stake in TaxSpanner and HomeLane’s acquisition of DesignCafe in a share-swap deal, indicating a trend towards consolidation in the Indian startup landscape.

  • Sector Diversity in Investments: The investments spanned multiple sectors including Fintech, AI, Healthcare, and Proptech, illustrating the wide-ranging interest from investors in India’s startup ecosystem.

Between September 23 and September 28, 2024, as many as 19 startups from diverse sectors raised over $366 million in funding from investors.

These sectors include Fintech, AI, Lifestyle, Fashion, Healthcare, Food, Proptech, Personal Care and Biotech. Last week, Indian startups raised over $470 million in funding, with Alakh Pandey-led PhysicsWallah raising $210 million alone.

High-value deals

A diverse range of sectors attracted investments during the week, with the SaaS sector leading the pack. Leading this sector was Whatfix, which raised $125 million in a Series E funding round. AI healthcare startup Qure.ai raised $65 million.

The list was followed by fintech startup M2P Fintech, AI startup Nurix AI, and Home interior design startup HomeLane, which collectively raised $104.4 million. 

M2P Fintech raised a total of $100 million in Series D round, Nurix AI raised $27.5 million, and HomeLane raised $26.9 million. 

Emerging startups

Defence robotics startup Sharang Shakti raised the smallest amount, securing $600,000 in a pre-seed funding round. This was followed by Proptech startup Flent, which raised $770,000 in a pre-seed funding round. Fintech startup care.fi raised $950,000 in debt.

Dairy-tech startup ORIGHT raised $1 million in


Here is a list of the funds, investors, startups, founders, and fundraising series based on the provided content:

High-Value Deals

  1. Whatfix

    • Amount Raised: $125 million
    • Funding Series: Series E

  2. Qure.ai

    • Amount Raised: $65 million
    • Funding Series: Not specified

  3. M2P Fintech

    • Amount Raised: $100 million
    • Funding Series: Series D

  4. Nurix AI

    • Amount Raised: $27.5 million
    • Funding Series: Not specified
  5. HomeLane
    • Amount Raised: $26.9 million
    • Funding Series: Not specified

Emerging Startups

  1. Sharang Shakti

    • Amount Raised: $600,000
    • Funding Series: Pre-seed

  2. Flent

    • Amount Raised: $770,000
    • Funding Series: Pre-seed

  3. care.fi

    • Amount Raised: $950,000
    • Funding Series: Debt

  4. ORIGHT

    • Amount Raised: $1 million
    • Funding Series: Seed

  5. Pepsales

    • Amount Raised: $1.1 million
    • Funding Series: Pre-seed

  6. First Coffee

    • Amount Raised: $1.2 million
    • Funding Series: Seed

  7. Jhana

    • Amount Raised: $1.6 million
    • Funding Series: Seed

  8. Tuco Intelligent

    • Amount Raised: $2 million
    • Funding Series: Seed

  9. Atomicwork

    • Amount Raised: $3 million
    • Funding Series: Seed

  10. The Health Factory

    • Amount Raised: $3.5 million
    • Funding Series: Seed

  11. Ahammune Biosciences

    • Amount Raised: $5 million
    • Funding Series: Series A

  12. Two Point O Capital

    • Amount Raised: $6.3 million
    • Funding Series: Seed

  13. Atlys

    • Amount Raised: $20 million
    • Funding Series: Series B
  14. AdOnMo
    • Amount Raised: $25 million
    • Funding Series: Not specified

Mergers and Acquisitions

  1. Zaggle

    • Acquisition: 98% stake in TaxSpanner
    • Amount: Rs 32.07 crore

  2. Redwood

    • Acquisition: Majority stakes in Loco
  3. HomeLane
    • Acquisition: DesignCafe (share-swap deal)

Key Notes

  • The text does not specify the exact investors for each startup.
  • The information on founders is not provided in the text.

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