The Indian startup ecosystem witnessed a renewed surge in funding momentum this week. 39 startups raised approximately $449 million across 29 deals, an increase of over 300% against the $135 million raised last week. 12 growth-stage deals and 16 early-stage deals were seen this week. Seed funding amounted to $26.5 million, up 48.8% from $17.8 million in the previous week, meaning investment activity in the startup ecosystem has grown.

Major Funding Round for Eruditus

Eruditus, an Edtech startup, secured $150 million in funding, led by TPG’s The Rise Fund. The round also saw participation from existing investors, including Leeds Illuminate, Softbank Vision Fund 2, CPP Investments, Accel, and the Chan Zuckerberg Initiative.

“With this investment, we’re excited to continue to grow and innovate to meet market demand,” Ashwin Damera, CEO, Eruditus and Emeritus (the parent company), was quoted as saying by news agency IANS.

Purplle’s Significant Fundraise

Omnichannel beauty platform Purplle has raised an additional Rs 500 crore in its latest funding round, bringing the total to Rs 1,500 crore (approximately $180 million). Abu Dhabi Investment Authority (ADIA) led the overall round and saw participation from existing investors such as Blume Ventures and Premji Invest.

GIVA Jewellery’s Successful Funding Round

GIVA Jewellery declared the successful closing of its extended Series B funding round, raising Rs 255 crore from reputed investors at a higher valuation. Premji Invest, EPIQ Capital, Edelweiss Discover Fund, and GIVA’s senior management took the lead in the funding round.

SaaS Startup Raises $30 Million

The software-as-a-service (SaaS) startup raised $30 million in a funding round led by Eight Roads Ventures, which also included participation from Elevation Capital and 3one4 Capital. Meanwhile, India’s fintech startup ecosystem raised $778 million in funding during the July-September period, ranking second globally after the US in terms of fintech funding raised in the third quarter.

Year-on-Year and Quarter-on-Quarter Growth

This also represents a 66% increase from the $471 million raised in Q3 last year and an impressive 165% increase from the $293 million raised during the second quarter of this year, according to the SaaS-based business insights platform Tracxn’s report.

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