Although there has been a so-called funding winter going on in the Indian start-up space with many companies forcing to down size their work force or slow down their operations due to a lack of funds, it has not stopped many start-ups from bagging crucial investments to help them grow, scale up their operations, and start their own acquisitions.
2 start-up companies joined the respected unicorn club this week as ed tech company Physics Wallah and beauty retailers, Purplle, both crossed the $ 1 billion USD valuation.
The funding for this week crossed the half a billion mark which is although quite respectable considering the situation of funding, it is still lower than the amount of investments start-up companies received just a month ago, but the number is nevertheless increasing after last week’s mega slump.
Last week saw just over $ 300 million USD worth of funding, but this week saw $ 507 million USD with 32 companies receiving paramount funding. Everyone in the Indian, entrepreneurial sector hopes that this trend rises and more start-ups can receive more funding from now on.
The biggest funding news for the week goes to fintech giants CRED who were able bag a colossal investment worth $ 140 million USD.
Physics Wallah was able to bag the 2nd largest investment of the week which amounted to $100 million USD at a valuation of $ 1.1 billion USD.
Flexiloans, another Indian fintech players secured a $90 million USD funding while Kissht was able to raise $ 80 million USD in investments.
Puplle became a unicorn this week after they raised funds amounting $ 33 million USD.
News application, Way2News bagged a funding worth $ 16.75 million USD.
While content company raised $ 14 million USD in funds.
Investment platform Jiraaf, and property selling platform Ivy Homes secured funding worth $ 7.5 million USD and $ 7 million USD respectively.
This week has been a pretty good week for start-ups all around as they are still recovering from the lack of funds that made start-up companies struggle just a month ago. However, things are slowly recovering and with two new unicorns in just the span of a single week, it seems that investments are going to rise over the next few weeks although people and experts are still not sure if the number would reach how, it was a few months ago where weekly investments were over $ 1 billion USD.
