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Startups in India raise over $97 million in election result week

Artificial Intelligence (AI)-driven, low-code test automation platform Testsigma raised $8.2 million in funding led by MassMutual Ventures.
12:00 AM Jun 11, 2024 IST | IANS
startups in india raise over  97 million in election result week
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The Indian startup ecosystem, the world’s third largest, saw $97.3 million in funding across 10 deals this week as Lok Sabha election results were declared, paving the way for the BJP-led NDA to return to power.

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The fintech sector led the overall startup funding. Digital lending platform Fibe secured $90 million ($65.5 million in primary capital and the rest via secondary transactions) led by TR Capital, Trifecta Capital and Amara Partners.

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Akshay Mehrotra, Co-founder and CEO, Fibe, said with this capital injection, the startup is set to expand its reach, strengthen technological infrastructure and deepen its impact across the country.
Artificial Intelligence (AI)-driven, low-code test automation platform Testsigma raised $8.2 million in funding led by MassMutual Ventures. It had earlier raised $4.6 million led by VC firm Accel.

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Another AI-driven sales prospecting platform Clodura.AI raised $2 million led by the Bharat Innovation Fund with additional backing from Malpani Ventures.

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The funding will help the startup further develop its AI capabilities and expand its user base.
Apart from primary startup funding, leading eyewear retailer Lenskart raised $200 million in secondary investment from global investment firms Temasek and Fidelity Management and Research Company (FMR).

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With this funding, Lenskart’s market valuation has touched $5 billion. (IANS)

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