The Indian startup sector witnessed a surge in funding in the first week of August. A total of $274.4 million was raised across 22 startups this week; a 74 percent increase over the previous week. Cleantech was the top funder, led by River Mobility, which raised $120 million in a one-time round. Seven AI-based startups also received significant funding.

Several major M&A deals took place this week. Reliance Retail acquired platform Furrl and Times Network acquired fintech startup OpiGo. Ahead of its IPO, Emarticus Learning acquired a Singapore-based institute for Rs 800 crore. Apart from this, major companies like Nasara and Skyroot Aerospace have also announced their new fund raising plans this week.

Startups’ IPOs have also made good progress during this period. Logistics company Leap India’s IPO of Rs 2,480 crore opened for subscription. Edutech company Klassroom’s shares were listed on the BSE at a 7 per cent premium. SEBI has approved the IPOs of Garuda Aerospace, Playsimple Games and Rediff, while major company Shiprocket has applied for an IPO of Rs 1,617 crore.