Indian Startups Raise $203.4 Mn This Week, Led by Ultraviolette
Indian startups raised $203.4 million across 21 deals between September 21 and 25, according to Inc42’s weekly tally. That is 3.4 times the $58.9 million raised by 14 startups in the previous week.
The biggest round was Bengaluru EV maker Ultraviolette Automotive’s $85 million Series E, co-led by Yali Capital and TDK Ventures. Intel CEO Lip-Bu Tan participated in the round and joined the Bengaluru-based company as an advisor.
Other large rounds included Ema’s $77 million Series B, Rivet’s $10.5 million seed round, and $6.7 million each for Dextr AI and GalaxEye.
Ultraviolette will use the capital to expand manufacturing, ramp up its Tesseract e-scooter and grow distribution in India and overseas. It is targeting a US entry in 2027, with international sales at about 15% of volumes.
The weekly tally covers Monday to Friday only and was compiled by Inc42 from announced deals; the strong week signals renewed investor appetite for Indian startups.
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