iNDICA NEWS BUREAU-
Indian startups successfully raised $1.03 billion in July after the government abolished the angel tax on foreign investors in the Union Budget 2024-25, according to a report released on Saturday, August 3.
The report by Entrackr states that in July, Indian startups raised a total funding of $1.03 billion across 126 deals.
Of these, 28 were growth or late-stage deals worth $725 million, while 72 were early-stage deals worth $311 million.
The amounts raised in 26 deals were not disclosed. However, these were also early-stage deals, according to the report.
In July, two Indian startups successfully raised funding of more than $100 million. E-commerce startup Purplle and automotive tech startup Rapido raised $120 million each.
Following these, online hotel chain Oyo raised $50 million, while fintech company Navi and consumer tech company Urban Company each raised $38 million in funding.
Indian startups raised $1.93 billion in funding in June. A total of $8 billion in funding was raised by Indian startups in the first seven months of 2024.
This figure for the entire year in 2023 was $11 billion, compared to $38 billion and $25 billion in 2021 and 2022, respectively.
