Startups in India raise US$105 million in week

Twenty-one Indian startups raised nearly US$105 million in the week from April 5 to 12, according to IANS, a partner of TV BRICS. These included six projects at the growth stage and 12 at the seed stage (the stage where only the project idea exists).

In terms of project origin, startups from cities like Bangalore, Mumbai, Chennai, Kanpur, Hyderabad, Delhi led in terms of funds raised.

A cloud-based security compliance automation platform received the highest amount of US$ 20 million. This project was followed by a B2B startup, then a housing finance company and a medical diagnostics platform.

Earlier, the Regulatory Authority of India issued guidelines to help startups and entrepreneurs create their own solutions and projects. The prescriptions relate to accelerating real-time testing of innovative products and enhancing digital transformation as well as broadband penetration in the country. Experts call the move by the authorities the first such measure in decades.