Bengaluru-based travel fintech Scapia is negotiating a $50-60 million funding round led by General Catalyst to expand its co-branded credit card and travel booking ecosystem. The deal follows General Catalyst's $5 billion commitment to the Indian market and Scapia's 70% revenue growth in FY25.
Venture capital inflow into the Indian startup ecosystem dropped to $90 million during the first week of March, marking the second-lowest weekly total of the year. With only nine transactions recorded, investors are retreating amid geopolitical tensions in the Middle East and valuation uncertainties driven by the rise of artificial intelligence.
US-based venture capital giant General Catalyst has announced a massive $5 billion investment plan for the Indian startup ecosystem over the next five years. This strategic move signals a significant vote of confidence in India's long-term growth potential and marks one of the largest dedicated capital pools for the region.
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