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In May 2024, startups raised around $1,197.2 million from 95 rounds.
Mumbai-based quick commerce firm Zepto emerged as the funding leader this month, raising $665 million from both existing and new investors, followed by software firm Creatio and eyewear retailer Lenskart, each securing $200 million.
In the last week of the current month—June 21 to 28—the deal value rose to $393 million from 22 rounds, compared to $92.8 million raised in the same period last year through 42 rounds. However, the deal value nearly halved this week compared to the previous week, when startups raised $748.5 million.
Top deals of the month:
Zepto: Quick-commerce startup Zepto raised $665 million, more than doubling its valuation to $3.6 billion. The funding round was led by existing investors Glade Brook Capital, StepStone Group, and Nexus Venture Partners, with participation from Goodwater Capital and Lachy Groom. New investors such as DST Global, Avenir Growth Capital, Lightspeed Venture Partners, and Avra also joined the round.
Creatio: Low-code software platform Creatio, which competes with tech giant Salesforce in customer relationship management (CRM), raised $200 million in a funding round that boosted its valuation to $1.2 billion. The funding round was led by Sapphire Ventures, with participation from StepStone Group and existing investors Volition Capital and Horizon Capital.
Lenskart: Omnichannel eyewear retailer Lenskart raised $200 million through a secondary share sale to Singapore sovereign fund Temasek and the United States financial services major Fidelity, at a valuation of $5 billion.
Fibe: Consumer lending startup Fibe closed a $90 million financing round that included a secondary share sale by some existing investors. The round saw participation from Hong Kong-based TR Capital, which invested around $32 million to acquire a mix of secondary and primary shares, along with Trifecta Capital and Amara Partners.
