BENGALURU: Start-up ecosystem is slowly recovering from funding winter as late-stage start-ups have managed to raise significant funds in April 2024 compared to the same month last year.
As per data from analytics firm Venture Intelligence, there were 10 late-stage funding deals as against four in the same period last year. Start-ups raised $159 million in 19 deals compared to $62 million in eight deals in April 2023. Akshay Munjal, founder & CEO, Hero Vired, said, “Indian start-up funding ecosystem, despite facing hurdles in the last financial year, experienced a refreshing boost in April this year with several noteworthy late-stage funding deals.”
This sudden surge not only creates an opportunity for recovery but also indicates a turnaround in funding this fiscal. “The narrative of start-up funding last month is one of optimism and collaboration, paving way for more innovative and inclusive future,” he added.
As per venture capitalists, start-up funding will continue in coming months. On Wednesday, AiDash, an enterprise SaaS company, announced the official closing of its Series C funding at $58.5 million. Early-stage start-ups are seeing major fundings as Equirus InnovateX Fund (EIF) led seed investment round in Lithium Battery Ecosystem start-up PointO. EIF led the round with an investment of Rs 5 crore, from the Rs 6.2 crore raised in this round.
