The funding environment for startups appears to be improving, evidenced by substantial deals such as Zepto’s $665 million and Purplle’s over $100 million. This resurgence in investment marks a positive shift after a prolonged period of funding slowdown. Notably, the quick commerce sector and beauty and personal care markets are attracting significant investor interest, signaling renewed confidence in these industries.
Ride-hailing startup Rapido has recently joined the unicorn club with a fresh funding round of $120 million led by WestBridge Capital, bringing its valuation to $1 billion. This milestone was achieved as part of Rapido’s Series E investment round. Regulatory filings confirmed the news, although Rapido has not publicly commented on the development.
Revitalized Funding Environment Zepto Purplle and Rapido Signal Growing Investor Confidence
Rapido’s achievement follows the earlier successes of Bhavish Aggarwal’s AI venture Krutrim and the B2B SaaS fintech firm Perfios, making it the third startup to reach unicorn status this year. These successes highlight a broader trend of substantial funding rounds and increasing valuations within the startup ecosystem, suggesting a revitalized investment climate.
The upward trend in startup funding is bolstered by significant deals and supportive policy changes, such as the proposed abolition of the angel tax. These factors are contributing to a more favorable investment environment, encouraging further financial backing and growth in the startup sector.
The recent influx of large investments signals a hopeful outlook for continued financial support and expansion opportunities in various industries.
