Indian tech startups raised $231.5 million across 26 funding rounds in the week ending October 16, more than doubling the previous week's tally but down 45.3% from last year, according to Tracxn data reported by economictimes.indiatimes.com. Boldfit led with $41.5 million, followed by GreenCell Mobility at $34.5 million, Inner Sky Labs at $30.9 million, and Scimplify at $25 million.
Boldfit, a fitness and sports brand founded in 2018 by Pallav Bihani, secured around Rs 400 crore ($41.5 million) from The Wealth Company Alternates, part of the Pantomath Group. The company plans to use the funds to expand offline retail, enhance product development and manufacturing, and pursue acquisitions. GreenCell Mobility, backed by Impact Fund Denmark and Eversource Capital, raised Rs 330 crore ($34.5 million) to deploy approximately 4,500 electric buses over the next six to eight quarters, aiming to grow its fleet beyond 5,000 vehicles.
Early-stage deals accounted for 51.3% of the capital raised, late-stage rounds made up 38.9%, and seed-stage investments comprised 9.8%. Accel was among the most active investors, backing startups such as Scimplify, Origin, and CosmoChute. Elevation Capital invested in Mesa School of Business and Spill Games, while Pantera Capital supported Fission Labs. The funding activity reflects ongoing investor interest in fitness, electric mobility, and tech startups despite a year-on-year decline in total capital raised.
The weekly funding figure of $231.5 million marks a rebound from the prior week’s total, with 26 rounds completed. Boldfit’s Rs 400 crore raise and GreenCell Mobility’s Rs 330 crore funding are the largest deals, highlighting investor focus on consumer fitness and electric vehicle platforms.