The 2nd week of September was better than last week for Indian startups raising funds. During the week from September 5 to 9, 28 deals raised Rs 1,600 crore. This is 25 percent higher than last week. Drug delivery companies Tata 1mg and Nethradine have attracted the most investments.
Gone are the days when young people wandered around looking for work and now, after gaining some years of experience, they start their own startup companies and grow to the point where they are employed. The central government came up with the Startup India policy, which made it easier for business investments and ease of doing business, which has led to the growth of startups. India has set a target of becoming a USD 25 trillion economy by the time of its 100th Independence Day. Experts predict that startups will play a major role in that.
In this case, let’s look at the startups that attracted investments in the 2nd week of September. Tata-backed startup 1MG has become the 107th Indian unicorn to hit the $100-crore market cap with this week’s fundraising. The company provides drug delivery through a mobile app. It has become the 5th unicorn in the healthtech industry. Tata Digital, HPM and Healthcare Investments have invested Rs 300 crore in Tata 1 MG this week.
Also Rs 480 crore has been invested in logistics startup Nethradyne. Ibus, an entertainment technology company, Wow Momo, a food technology company, and Akshayakalpa, an organic food company, have received an investment of Rs 100 crore each.
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Apart from these, financial technology company Chromo, e-commerce company Zipmate, lending company Cashblow and SaaS technology-based company Powerplay have received funding ranging from Rs 50 to Rs 100 crore.
Agricultural technology company Aicard, Lucidity Enterprises Tech, accommodation company Stavista, corporate startup Suit42, vending machine startup Thalsini, among others, have received funding of up to Rs 50 crore. AnAcademy acquired Gate Academy this week. Better Capital and Titan Capital made 2 investments each in this week’s bunting round.
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