[Weekly funding update] Indian startups raised close to $250M in the first week of May
The week saw 18 deals, half of which were early-stage funding rounds. There were only three late-stage deals, raking up $134 million among them.
- The Indian startup ecosystem in the week ending May 3 raised close to $250 million in equity across 18 deals, a 11 percent drop from last week.
- There were only three late-stage deals (Series C, Series D, and Series E), which raked up a total of $134 million.
- When it comes to debt, Mumbai-based digital lending startup Happy, which was founded by banking veteran Manish Khera, raised $20 million as equity and debt from a clutch of Indian and US strategics as well as DMI, an Indian non-bank finance company.
- Apart from this, the Indian startup ecosystem saw two other debt deals.