Indian startups raised $1.1 billion in May, up 37% YoY
Indian startups pulled in $1.1 billion this May, up 37% from last year and a huge 69% jump over April.
Even with fewer deals (just 65 compared to last year's 148), the funding surge shows investors are still betting big on Indian innovation.
Late stage startups captured $903.6 million
Most of the money went to late-stage startups, grabbing $903.6 million (about 81% of all funds).
Early-stage companies got $161.4 million, while seed-stage firms secured $49.4 million.
Investors seem to be backing more mature players who have already shown they can grow.
Rapido led with $240 million
Rapido topped the charts with a $240 million raise at a $3 billion valuation, thanks to Prosus, WestBridge Capital, and Accel.
Scapia followed with $63 million from General Catalyst, and UpGrad landed $38 million at a $1.7 billion valuation.
Other investors like Fireside Ventures and Alkemi Growth Capital also made notable moves, with Fireside backing CHOSEN and Kisah, and Alkemi participating in rounds of CHOSEN and Alphadroid.