The last week of June saw venture capital funding into Indian startups crossing the $1 billion mark on a weekly basis for the first time since 2023 and this was primarily due to the $900 million fund infusion into Kunal Shah-founded fintech unicorn CRED by Meta.
The funding raised by CRED is also the largest ever by an Indian startup since 2023, as per data available with YourStory Research.
The total funding for the last week of June came in at $1.1 billion from 19 deals.
In contrast, the previous week saw total funding of $393 million, which was primarily boosted by the $234 million transaction of Sarvam AI.
As much as there was a steep increase in funding this week, caution has to be taken against jumping towards a conclusion that VC funding into Indian startups is on an upward curve as these spikes were largely due to single large transactions.
