India Startups gained $395 million by making 20 deals in the previous weeks, facing an increase of 350% compared to last week, according to The Statesman.
In July, India startups raised $1.03 billion after the government of Bharat decided to lift angel tax from foreign investors in their Union budget 2024-25.
In the reports, the amount we see raised is by 126 deals. Of these deals, 72 of them are early-stage deals that cost $311 million. However, the remaining 28 deals are late-stage deals worth more than $725 million.
Read: Pakistani Freelancers Face Fiverr Account Suspension Amidst Network Issues
A hospitality company that provides travel and tech services, is leading the raise of around $175 million. Other startups that successfully raised funding have niches in electric vehicles, wealth and assets organization, and fintech.
The Electric Vehicle company Ather Energy, after raising $71 million, grew its valuation to $1.3 billion, making it a “new unicorn.”
A unicorn is a private startup having a market value of $1 billion or more. Many of these unicorns will become multinational companies in the future, that will contribute to the economic value of their homeland.
Since 2016, the Indian government has introduced more than 55 regulatory reforms to make it easier to do business, raise capital, and reduce the compliance burden on startups.
The report also mentioned that Indian startups have created over 1.55 million direct jobs so far.
