Weekly Funding Wrap: Yotta, Adage Drive the Momentum
Check out the top funding deals, M&As, and lots more from the week.
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Capital inflow in the Indian startup ecosystem surged 28.29% compared to the last week driven by Yotta’s series D and Adage’s series B fundraises, according to Tracxn.
In the period between (July 3 and July 9) as many as 18 companies across sectors raised funding with the late-stage funding recording the maximum capital. There was one acquisition deal as well – ekincare taking over Superclaims.
Let’s take a closer look at the startup ecosystem for the said week:
Top Funding Deals
Yotta Scoops Up USD 150 Million
Yotta Data Services, Hiranandani Group’s data centre arm, raised USD 150 million from investors. The funding round valued the company at INR 37,000 crore (USD 4.4 billion).
“From day one, our goal has been to build world-class digital infrastructure that enables businesses, governments, researchers, and innovators to harness the full potential of AI,” Sunil Gupta, Co founder, CEO and MD of Yotta Data Services in a post.
“This fresh capital will help us accelerate that mission. Over the next four months, we aim to deploy 40,000 NVIDIA Blackwell GPUs, with plans to scale to 85,000 GPUs by FY27, strengthening one of the world’s largest AI infrastructure platforms.”
Adage Raises INR 230 Crore
Adage Automation Private Limited has raised INR 230 crore in a funding round led by InCred Growth Partners Fund, the private equity platform of InCred Alternative Investments, which invested INR 180 crore as the lead investor. The round also saw participation of Global South Capital and Prachetas Capital.
Adage says the funding will help push its next phase of growth as it looks to strengthen its position as a technology-led industrial solutions platform serving critical process industries in India and international markets.
The fresh capital will be deployed towards investments across AI-enabled industrial software, advanced engineering capabilities, digital monitoring platforms, manufacturing expansion and global operations.
WestBridge Capital Invests INR 170 Cr in Elevate Education
Elevate Education, earlier known as Sunstone, has raised INR 170 crore in a series D funding from WestBridge Capital.
The latest fundraise follows series C round in August 2022 when the company secured USD 35 million. WestBridge Capital led the series C round while existing investor Alteria Capital also joined in.
Other top fundings of the week:
Stage-wise Funding Trend
As mentioned above, Yotta and Adage drove the funding momentum the said week. Consequently, late-stage fundings dominated, accounting for 76.5% of the total capital inflow.
Quite IPO & Acquisitions
Other than ekincare’s Superclaims acquisition, there was no M&A activity in the said week. There was no IPO launch either. Auxona with their investments in Stylework along with Blume Venture (Neothera) and Pravega Ventures (Blurgs) were the top most active VCs in the week.
*Equity rounds and tech companies have been considered for the roundup.
*Data source: Tracxn
Capital inflow in the Indian startup ecosystem surged 28.29% compared to the last week driven by Yotta’s series D and Adage’s series B fundraises, according to Tracxn.
In the period between (July 3 and July 9) as many as 18 companies across sectors raised funding with the late-stage funding recording the maximum capital. There was one acquisition deal as well – ekincare taking over Superclaims.
Let’s take a closer look at the startup ecosystem for the said week:
Entrepreneur Staff • Editor
Entrepreneur Staff
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