TRACXN
ETtech Deals Digest: Startup funding drops 92.3% on-year to $83.6 million this week
The funds were raised through 17 deals, compared to 44 in the year-ago period, when they raised $1.09 billion. This also marks an 88.6% decline from the total of $735.9 million recorded last week.
Groww, Razorpay pay for reverse flip; Arzooo¡¯s distress sale
Happy Thursday! Stockbroking platform Groww, had its valuation reduced as part of its flip back to India, said sources. This and more in today¡¯s ETtech Morning Dispatch.
PeLocal secures $2 million funding led by Unicorn India Ventures
PeLocal, a payment solutions provider enabling e-commerce transactions through messaging platforms like WhatsApp, has secured $2 million in funding. The round was led by Unicorn India Ventures. The company aims to scale its monthly transactions from three million to ten million in the coming year.
ETtech Deals Digest: Startup funding rises 10.6% on-year to $164.8 million this week
The funds were raised through 21 deals this week, unchanged from the number of deals in the same period last year.
Dealshare FY24 revenue falls 75% post restructuring, loss narrows to a third
While revenue fell sharply, it managed to reduce loss to a third at Rs 167 crore compared with Rs 503 crore the year before, according to the company¡¯s financials. Dealshare¡¯s revenue from the sale of traded goods decreased by 74.7% to Rs 495.8 crore in FY24, while its marketing services income contracted 44.3% to Rs 3.3 crore.
B2C commerce startup Wheelocity raises $15 million from Lightspeed, others
The new funding will support Wheelocity¡¯s plans to expand operations across 20,000 towns and villages in southern India over the next year, aiming to reach a user base of 10 million.
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ETtech Deals Digest: Startup funding declines 57% on-year to $80.7 million this week
The funds were raised by the startups through 20 deals, compared to 35 in the year-ago period.
Wealthtech platform Nivesh acquires Wealthzi for undisclosed amount
Nivesh will leverage Wealthzi's registered investment advisory (RIA) licence to offer investment advisory services to HNIs, said Anurag Garg, founder of Nivesh.
Country Delight raises Rs 200 crore in debt from Alteria Capital
Earlier this year, it raised around Rs 164 crore in equity funding from Singapore¡¯s sovereign fund Temasek, giving it a valuation of $804 million as of July 31. The direct-to-consumer fresh foods brand will use the fresh funds to drive its expansion, brand marketing efforts and capacity addition.
Ninjacart¡¯s revenue jumps 74% to cross Rs 2,000 crore in FY24, loss down 20%
The company, focused on agriculture and fresh supply, said that it minimised wastage in its fulfilment business by leveraging artificial intelligence for quality assessment, prediction and pricing, which contributed to business growth.
India approves $119 million fund for space startups
The fund, first proposed in July, will be managed by the country's space regulator, the Indian National Space Promotion and Authorisation Centre. It will help generate employment, boost space technology development, fortify supply chains and support research and development.
ETtech Deals Digest: Startup funding rises 84% on-year to $534 million this week
This week startups, across seed, early and late-stage rounds, raised funds through 28 deals, compared to 33 deals in the year-ago period.
Startup funding drops 37% on year to $103 million this week
This week, startups, across seed, early and late-stage rounds, raised funds through 21 deals, compared to 29 deals in the year-ago period, when they raised a total of $163 million, according to data from Tracxn.
Robotics startup Haber raises $38 million from Creaegis, others
The funds will be used to boost growth, expansion, marketing, and for general corporate activities. Earlier in 2021, the Pune-headquartered artificial intelligence-driven startup raised $20 million in a round led by Ascent Capital.
ET Startup Awards 2024: Lenskart bags top honours, a look at the winners
A high-powered jury led by Infosys cofounder and chairman Nandan Nilekani picked eight winners from a shortlist of 41 contenders after deliberating for well over two hours at a meeting in Bengaluru on Wednesday.
Market hot, companies cut IPO launch time after Sebi nod
Despite SEBI taking longer to approve IPOs in 2024, companies have reduced the time to launch their offerings to an average of 81 days. The enhancement in efficiency is attributed to improved planning prior to receiving regulatory approval and favorable market conditions, enabling quicker IPO rollouts.
ETtech Deals Digest: Startup funding rises 97% YoY to $242 million this week
Startups mostly at the late and early stages, raised funds through 18 rounds, compared to 43 in the same period last year, when they raised a total of $123 million, according to data from Tracxn.
Indian fintech sector sees 59% drop in funding in H1 2024, remains among top three globally
The fintech sector saw a nearly 60% slump in funding for the first six months of 2024. Startups in the space raised $795 million during this period, as against $1.9 billion in the first half of 2023.
Indian tech startup funding logs slight uptick at $4.1 billion in H1
Indian tech startups raised USD 4.1 billion in H1 2024, 4% higher than H2 2023, remaining fourth-highest funded country globally. Insights from Tracxn report highlighted funding trends and volumes in the Indian tech startup landscape.
InsuranceDekho in talks to acquire credit marketplace BankSathi: sources
Insurance marketplace InsuranceDekho, backed by investors like TVS Capital and Goldman Sachs Asset Management, will acquire a majority stake in BankSathi, which is a distributor of credit cards and personal loans, two people in the know said.
ETtech Deals Digest: Startup funding in May rises 62% on year to $817 million
New-age startups raised $817.2 million in May 2024, up 62% from last year, with top investor Venture Catalysts leading funding rounds for startups like Zypp Electric.
FarMart raises Rs 24 crore in debt from ResponsAbility Investments
B2B food supply platform FarMart raises Rs 24 crore from Switzerland-based asset manager ResponsAbility Investments for its SaaS software. Previous investors include General Catalyst and Matrix Partners India. The funding aims to reduce food loss and waste in India.
ETtech Deals Digest: Startup funding plummets 88% on year to $26 million this week
Goodwater Capital emerged as the topmost investor in terms of deal volume in the latest week.
ETtech Deals Digest: Startup funding falls 34% on year to $118 million this week
In terms of volume, total deals during the week stood at 18, compared to 32 a year ago, and 16 in the second week of May 2024. Sequentially, deal value went up about 3.3X from $35.2 million to $117.6 million.
Late-stage startup funding up 3x in April
Data from market intelligence platform Tracxn reveals a new trend in Indian startups. While overall funding for startups declined in the first three months of 2024, late-stage funding (for more established companies) saw a dramatic increase, more than tripling in April.
Digit to go public on May 15, looking to raise Rs 1,125 crore
Digit's upcoming IPO on May 15 aims to raise Rs 1,125 crore, delayed by Sebi compliance issues. Valued at $4 billion, Digit faced fines from IRDAI. With a new CEO, Digit is poised to enter the market.
SoftBank back at deal counter with Icertis deal talks
Tech VC in funding talks with portfolio co Icertis, which is stitching up a $150m secondary round
Baron hikes Pine Labs valuation to $5.8 billion, Invesco marks it up to $4.8 billion
Baron Funds and Invesco revised Pine Labs' valuation to $5.8 billion and $4.8 billion respectively. Fidelity later marked it down to $3 billion. Pine Labs, founded in 1998, offers various digital payment solutions and competes with industry players like Paytm and Mswipe.
ETtech Deals Digest: Startup funding drops 59% to 12 deals this week
According to data from Tracxn, February saw startups raise $516 million across 82 rounds, versus $551 million across 109 rounds in January.
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