Between December 23 and 27, 2024, eight Indian startups across sectors such as EV, AI, semiconductors, IoT, manufacturing, edtech, and gaming collectively secured $44.67 million in funding. This follows a strong performance the previous week, when Indian startups raised over $206 million, including a major $90 million round by Zetwerk.
Manufacturing Leads the Pack
Manufacturing took the spotlight, with EPACK Prefab raising $20 million in a standout deal. Stock market super app Univest followed with $10 million.
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Semiconductor startup Mindgrove, edtech venture Sparkl Edventure, and sustainable investment platform SustVest also made waves, collectively raising $13.7 million. Mindgrove led this trio with an $8 million infusion, while Sparkl Edventure secured $4 million, and SustVest attracted $1.7 million.
Additionally, Leanworx, a player in the IoT space, raised $972,000 in seed funding. Two startups, Proxgy and Naxatra Labs, chose not to disclose their funding amounts.
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Strategic Mergers and Acquisitions
The week also saw notable strategic moves through mergers and acquisitions:
- Aurionpro Solutions acquired Fenixys.
- Naza Tech increased its stake in Absolute Sports.
- TVS Motor raised its stake in DriveX Mobility.
- Xcelerate acquired a share in Carisma Solutions.
A Promising Close to the Year
With diverse funding activity and strategic acquisitions, the final days of 2024 highlight the strength and adaptability of India’s startup ecosystem. The broad range of sectors attracting investments underscores a growing focus on innovation and sustainability, setting the stage for a dynamic 2025.
