Deal Momentum Builds in India's Mid-Stage Funding

Several startups are raising or preparing to raise their successive rounds to fuel expansion

- Priyamvada C & Sneha Shah

India's startup ecosystem is seeing a fresh flurry of deal-making activity in the mid-stage funding rounds, as several companies raise or prepare to raise their successive rounds to fuel expansion, underscoring early signs of revival in this segment.

Startups, including Ayurvedic wellness brand Auric, packaged foods maker Go Desi, space-tech venture Bellatrix Aerospace, fresh produce platform Gourmet Garden, snacking brand Slurrp Farm, gardening startup Ugaoo, toy brand PlayShifu, and health-focused bakery The Health Factory, are in different stages of their fundraising journeys, multiple people aware of the matter said. These companies are looking to raise between $10 million and $15 million.

Apparel players Fashor and Fablestreet are also in the market with similar targets. Others—such as snacking company Let's Try (advised by PwC), direct-to-consumer brand Nat Habit, which has appointed EY, pet care brand Supertails, and mobility platform Baaz Bikes—are also aiming to raise $15-25 million, the people said.

The companies did not respond to Mint's requests for comment.