The Indian startup ecosystem has reached $12.2 billion in funding in the first 10 months this year, crossing the total amount raised throughout 2023 (about $11 billion), with two months to go.
Homegrown startups surpassed $1 billion in funding again across 119 deals in the month of October.
September saw the second-highest funding with $1.63 billion, behind the peak of $1.92 billion registered in June. In October, the growth and late-stage funding segment comprised 28 deals, contributing $846.2 million to the total funding amount, according to data by TheKredible.
Early-stage startups secured $355.38 million across 65 deals. Edtech startup Eruditus raised $150 million led by TPG’s The Rise Fund, the multi-sector strategy of TPG’s global impact investing platform, with participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments, and the Chan Zuckerberg Initiative.
Jaipur-based Finova Capital raised $135 million in a Series E round from Avataar Venture Partners, Sofina and Madison India Capital, with existing investor Norwest Venture Partners also participating in the round. Finova said it will use the funds to grow its loan book, invest in technology, expand geographically and further its vision of enabling financial inclusion at scale.
Singapore sovereign wealth fund Temasek invested an additional $60 million in higher education and upskilling startup Upgrad at a valuation of $2.25 billion.
Bengaluru-based startups led with 46 deals totalling $502.72 million, representing 41.84 per cent of the total funding in October.
Last month, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the setting up of a Rs 1,000 crore venture capital (VC) fund dedicated to the growing space sector. The deployment period of the proposed VC fund, under the aegis of IN-SPACe, is planned to be up to five years from the actual date of the start of the fund operations. The average deployment amount could be Rs 150-250 crore per year, depending on the investment opportunities and fund requirements.
Tripura CM Saha holds key meeting with BJP, IPFT and TMP leaders
Tripura Chief Minister Manik Saha on Friday held an "important" meeting between the leaders of ruling BJP and its two allies – Tipra Motha Party (TMP) and Indigenous People's Front of Tripura (IPFT) and discussed various political and developmental issue, sources said.
HM Amit Shah's meeting sends a clear message: Not a drop of water to Pakistan
A high-level meeting was held on Friday at the residence of Union Home Minister Amit Shah regarding the suspension of the Indus Waters Treaty. The 45-minute meeting between the Home Minister and Union Jal Shakti Minister C.R. Patil focused on exploring ways to halt the flow of water to Pakistan.
Tripura: TMP chief urges Centre to adopt 'stronger policy' against B'desh
Ruling BJP’s ally Tipra Motha Party (TMP) founder-chief Pradyot Bikram Manikya Debbarma on Friday urged the Central government to adopt a stronger policy stance towards Bangladesh, accusing the neighbouring country of encouraging fundamentalist forces targeting Hindu minorities.
Pahalgam attack: More countries express solidarity with India, offer support in fight against terrorism
Ambassadors of Israel, Egypt, Argentina, and Nepal met External Affairs Minister (EAM) S. Jaishankar in New Delhi on Friday, expressing solidarity with India in its fight against terrorism following the heinous terror attack in Pahalgam.
Tripura CM directs SPs and DMs to remain vigilant about Pakistani nationals
Tripura Chief Minister Manik Saha on Friday directed the Superintendents of Police (SPs) of all eight districts to regularly share necessary inputs with the Chief Minister’s Secretariat regarding the presence of any Pakistani nationals in the state, officials said.
US supports India's 'hunt' for those behind 'horrific Islamist terrorist attack' in Pahalgam, says Gabbard
Tulsi Gabbard, Director of National Intelligence (DNI), on Friday said that the United States supports India's "hunt" for the perpetrators of the "horrific Islamist terrorist attack" in Pahalgam that took place earlier this week.
Tehran stands ready to 'forge greater understanding' between India and Pakistan: Iran FM Araghchi
Citing its good relations with both India and Pakistan, Iran on Friday said that it stands ready to "forge greater understanding" between New Delhi and Islamabad following the Pahalgam terror attack, earlier this week.
PM Modi's action will act as deterrent against any fresh attempts to harm India: Tripura CM
Tripura Chief Minister Manik Saha on Friday denounced the Pahalgam terror attack, asserting his staunch belief that Prime Minister Narendra Modi's decisive action will act as a strong deterrent against any future attempts by terrorists to harm India.