Seventeen Indian startups have collectively raised $196 million in funding.

New York, 01st July** – This week, 17 Indian startups collectively raised $196.4 million across 17 deals, representing a significant decrease of 75% from the $800.5 million secured by 21 startups last week. The largest funding round was secured by Northern Arc, a non-banking financial company, which raised $75 million via non-convertible debentures from the Dutch entrepreneurial development bank FMO.

The Fintech sector led the way this week, with startups in this space securing $77.4 million across three deals. The e-commerce sector followed, raising $48.3 million across five deals, while the enterprise tech sector raised $25.8 million across three deals. The real estate tech sector raised $20.2 million from a single deal, and the health tech sector raised $10.5 million.

Seed funding saw a significant drop this week, decreasing by 69% to $6.9 million from last week’s $22.7 million. Notable deals included the $24 million Series B funding round for Software-as-a-Service startup Rocketlane, co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. Additionally, co-working space solutions provider Smartworks secured $20.24 million (Rs 168 crore) from a group of investors including Keppel, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and high-net-worth individuals (HNIs).

A Nasscom report highlighted that India now ranks sixth among the top nine deep-tech ecosystems globally, with 3,600 deep-tech startups receiving $850 million in funding last year.