Indian startup funding surged this week, led by a mega funding round of $240 million raised by Rapido. 15 startups raised a total of $303 million, a 129 percent increase over the previous week. However, excluding Rapido’s big funding, the total investment this week would have been down 52 percent.

New venture capital fund announcements and significant acquisitions were also made this week. Metal Capital, which has raised $350-400 million, and 3one4 Capital, which is targeting $225 million, announced new funds. In addition, US platform Numero acquired Chennai-based Royoo, Incred Capital acquired Singapore-based S Cube Capital, and Rays Financial Services acquired GIBL.

In other major developments in the startup space, electric vehicle maker Simple Energy is set to raise Rs 126.7 crore. EaseMyTrip has also approved a plan to raise Rs 500 crore through a rights issue. In addition, software giant Zoho has also invested Rs 70 crore in ONDC to reach out to more customers.