[Weekly funding update] Indian startups raised close to $250M in the first week of May

Among startups that raised Series A funding, Mumbai-based digital lender and NBFC InCred topped the list, raising $86 million led by Dutch development finance institution FMO.

Next was Mumbai-based ftcash, which raised $7.2 million led by Accion, FMO, and existing investor IvyCap Ventures. Pune-based industrial IoT platform Altizon Systems raised $7 million from TVS Motor Company (Singapore) Pte. Limited,  The Hive, Wipro Ventures, and Lumis Partners.

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