36 Indian startups received major funding of $628 million this week, an increase of 174%

The Indian startup ecosystem saw a massive funding inflow this week, with 36 startups raising over $628.24 million, a massive 174.5 percent increase from last week.

The funding pace was led by edtech company Physics Walla (PW), which secured $210 billion in its Series B funding round, taking the company’s valuation to $2.8 billion. The round was led by Hornbill Capital, with significant participation from Lightspeed Venture Partners and existing investors GSV and Westbridge.

This week saw 14 growth-stage deals and 17 early-stage deals amid a positive investment climate in the country.

Whatfix, a SaaS-based digital adoption solutions provider, raised $100 million, according to a report by Entrackr. However, the company has not yet made the funding public.

While API infrastructure platform M2P Fintech secured $50 million, omnichannel diagnostics services provider Radcliffe raised $42 million and digital infrastructure company IBUS raised $34 million.

Fleet management company Everest Fleet successfully raised $30 million as part of its ongoing $50 million Series C funding round to help it scale operations and expand its fleet of clean-energy vehicles, including CNG and electric vehicles (EVs). Can be made capable.

AI-powered recruitment platform Vahan.ai announced $10 million Series B funding led by Khosla Ventures. The funds raised will be used to develop AI recruitment technology to support eight major Indian languages.

Bengaluru-based startups led the way with 12 deals this week, followed by Delhi-NCR, Mumbai, Chennai and Hyderabad.

Last week, 24 domestic startups secured funding of over $229 million, including six growth-stage deals worth $182.65 million. The week saw 13 early-stage deals worth $46.14 million.

With 28 deals per week, the average funding over the last eight weeks is approximately $393 million.