Venture capital (VC) funding into Indian startups saw a steep decline in the first week of July, and this is understandable given that the previous week recorded a $900-million capital raise byCRED. The total funding raised during the week was $107 million across 22 deals. In contrast, theprevious weeksaw $1.1 billion being raised. This sharp fall in VC funding was on expected lines as the CRED transaction was a one-off deal. This week saw no support in terms of larger value transactions; the highest funded startup this week raised just $17 million. During this week, interestingly, there was a diverse set of startups that raised funding, including a kitchenware brand, a real estate firm, and a climate tech startup. This reveals the diversity in the Indian startup ecosystem, and investors are betting on ventures that do not typically fall into the tech category. Overall, there are signs of optimism going by the VC funding raised during thefirst six monthsof the year, which stood at $6.9 billion. Kitchenware brandThe Indus Valleyraised $17 million from Gaja Capital, DSG Consumer Partners, Rukam Capital, and The Chennai Angels. Managed workspace providerIncuspazeraised Rs 150 crore ($15.7 million approx.) from Bharat Value Fund and other financial institutions. Cleantech startupBatX Energiesraised Rs 105 crore ($11 million approx.) from IvyCap Ventures, Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO. Financial services firmDovetail Capitalraised Rs 100 crore ($10.4 million approx.) led by Elev8 Venture Partners. AI startupKapture CXraised $10 million from Bajaj Finserv Ventures, Cactus Venture Partners, and India Alternatives. Age Care Labsraised Rs 85 crore ($9 million approx.) from Shrem Group, Rainmatter, Pegasus Finvest, and family offices.
