Big Wins for Startups: Key Funding Highlights (Nov 30–Dec 6) The first week of December saw the funding activity across a variety of sectors, showcasing the resilience and innovation of Indian startups. Here's a detailed roundup of the most notable deals from this period:
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Ultraviolette: Accelerating Sustainable Mobility
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Bengaluru-based Ultraviolette continues to set benchmarks in the electric vehicle (EV) space. The company, known for its advanced electric motorcycles, shipped its first batch of Indian-made EVs to Europe in September 2024, marking a significant step in its global expansion strategy.
Ultraviolette's focus on sustainable mobility and energy infrastructure has positioned it as a pioneer in India's green revolution.
Funding Amount: USD 15.3 Million
Investors: Zoho Corporation, Lingotto Co-Invest Fund I, Mudhal Partners
CreditAccess Grameen: Empowering Rural Women
CreditAccess Grameen, one of India's leading microfinance institutions, continues to transform lives by providing financial services to rural women BIZ Experiencess. Headquartered in Bengaluru, the company has a presence across 398 districts in 16 states and one union territory.
Founded in 1999 by Vinatha Reddy and Suresh Krishna and currently led by Udaya Kumar Habbar, CreditAccess Grameen focuses on income-generating loans, two-wheeler financing, gold-backed loans, and emergency credit.
Funding Amount: USD 46 Million
Investors: German Investment Corporation (DEG), Citi
Vastu Housing Finance: Bridging the Affordable Housing Gap
Mumbai-based Vastu Housing Finance, co-founded by Sandeep Menon and Sujay Patil in 2015, has become a key player in the affordable housing sector. The company aims to make home ownership a reality for underserved communities through tailored financial solutions.
The company claims to operate over 230 branches across 13 states, focusing on making affordable housing accessible to a broader audience.
Funding Amount: USD 100 Million
Investors: Prosus
Dentalkart: Revolutionising Dental Supplies
Delhi-based Dentalkart, founded in 2016 by Dr Vikas Agarwal and Sandeep Aggarwal, has emerged as a leading e-commerce platform for dental professionals. Offering over 22,000 products from 500+ manufacturers, Dentalkart ensures swift delivery, even to remote areas, making it a preferred choice for dentists nationwide.
Funding Amount: USD 10.04 Million
Investors: Malabar Investment, Whiteoak
Orange Health Labs: Diagnostics Redefined
In just four years, Bengaluru-based Orange Health Labs has redefined diagnostics with its on-demand services, including at-home sample collection within 60 minutes and same-day report delivery. Co-founded by Dhruv Gupta and Tarun Bhambra in 2020, the company has served over 1 million customers across Bengaluru, Delhi-NCR, Mumbai, and Hyderabad.
Funding Amount: USD 12 Million
Investors: Amazon Smbhav Venture Fund, Accel, General Catalyst, Bertelsmann India Investments, Y Combinator
This week's funding activity highlights the vibrancy of the Indian startup ecosystem, with each company driving innovation and impact in its respective domain. From electric mobility to affordable housing and healthcare diagnostics, these startups are poised to shape the future.
