New Delhi, Jan 18: The funding season in the Indian startup ecosystem continued its growth this week as startups cumulatively raised more than $308 million across 24 deals.

As the ‘Startup India’ initiative completed nine successful years, the funding remains bullish. From tech-driven solutions to rural innovations, healthcare advancements to biotech breakthroughs, fintech to edtech, and clean energy to sustainable technology, Indian startups are solving global challenges while at the same time creating employment opportunities and boosting our quest towards self-reliance.

The country now has more than 1.59 lakh startups, recognised by the Department for Promotion of Industry and Internal Trade (DPIIT).

This week, Netradyne, an industry-leading SaaS provider of artificial intelligence (AI) and edge computing, announced $90 million in Series D funding, led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital.

The capital infusion will accelerate the company’s growth trajectory through strategic investment in R&D, enhanced go-to-market investments, and aggressive global expansion.

Foxtale, a homegrown D2C skincare brand, successfully raised $30 million in its Series C funding round that saw participation from Japanese multinational company KOSE Corporation, along with continued support from Panthera Growth Partners, Z47 and Kae Capital.

Meanwhile, early-stage venture capital firm 100X.VC invested $2.7 million in 18 domestic startups as part of its 12th cohort.

On January 16, India marked nine years of ‘Startup India’, a transformative journey that began in 2016. Designated as ‘National Startup Day’, this occasion celebrates the nation’s strides in fostering a robust and inclusive entrepreneurial ecosystem.

From 2016 to October 31, 2024, recognised startups have reportedly created over 16.6 lakh direct jobs, significantly contributing to employment generation.

Major hubs like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have led this transformation, while smaller cities have increasingly contributed to the nation's entrepreneurial momentum. (IANS)

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