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Weekly funding plummets over 80% to $30 million

Economic Times

Economic Times · 1y ago

Weekly funding plummets over 80% to $30 million

The funding climate for Indian technology startups took a hit, with funding dropping to $29.7 million across 6 funding rounds in the week of November 13 to 17. This marks a significant decline from the $189 million raised across 34 rounds during the same week in 2022. The average deal value also decreased to $4.95 million from $5.6 million in 2022. The funding winter, which began in September 2022, is expected to slow down deal-making activity until early January.

Related News

Startup funding plummets 80% on year to $45 million this week

Economic Times

Economic Times · 1y ago

Startup funding plummets 80% on year to $45 million this week

Startup funding in the second week of April 2024 declined by about 80% from the same period last year, totaling $45 million across 10 deals. The average funding per deal dropped to $4.5 million. AI cloud and platform-as-a-service startup, Neysa, accounted for 44% of the total corpus raised this week with a funding round of $20 million. Most of the funding went to seed-stage startups, capturing 59.2% and raising $26.7 million. The top five deals included Neysa, Recykal, Planys Technologies, Arrivae, and EyeMyEye.

ETtech Deals Digest: Startup funding plummets 49% YoY to $108 million this week

Economic Times

Economic Times · 11m ago

ETtech Deals Digest: Startup funding plummets 49% YoY to $108 million this week

Startups raised $108.4 million in funding between August 3 and August 9, which is a 48.9% decline compared to the same period last year. There were 17 funding rounds this week, down from 26 rounds last year. Notable deals include Visit Health raising $30 million, Agrizy raising $9.8 million, Scimplify raising $9.5 million, and Kindlife.in raising $8 million.

ETtech Deals Digest: Startup funding plummets 80% YoY to $58.3 million this week

Economic Times

Economic Times · 11m ago

ETtech Deals Digest: Startup funding plummets 80% YoY to $58.3 million this week

Startups saw a sharp decline in funding during the fourth week of July, with only $58.3 million raised compared to $293 million in the same period last year. This marks an 80.1% decrease in funding and a 72.3% drop from the previous week. Only eight funding rounds took place, down from 28 rounds last year. Space startup Unimech Aerospace secured the largest deal, raising $30 million in a funding round led by Steadview Capital, ValueQuest Scale Fund, and Evolvence India. Other significant deals included wealthtech startup Stable Money raising $15 million and flexible workspace provider Incuspaze raising $8 million. Nasher Miles, a direct-to-consumer luggage brand, also raised $4 million.

Women Led Startups’ Contribution To Total Startup Funding Plummets To 5% In 2023

Inc42 · 1y ago

Women Led Startups’ Contribution To Total Startup Funding Plummets To 5% In 2023

In 2023, women-led startups in India faced a significant decline in funding, with a decrease of over 80% compared to the previous year. While overall funding for Indian startups hit a seven-year low, women entrepreneurs struggled to attract venture capital. Globally, female founders also faced challenges in securing funding due to gender-based stereotypes and a lack of iconic role models. Despite these obstacles, efforts are being made to promote gender diversity and support women entrepreneurs through government initiatives, funds, and communities focused on empowering women in the startup ecosystem.

Pratilipi closing in on Rs 30-crore funding round as KPMG flags runway problem in audit report

Money Control

Money Control · 1y ago

Pratilipi closing in on Rs 30-crore funding round as KPMG flags runway problem in audit report

Pratilipi, a vernacular content startup, is nearing the completion of a funding round worth approximately Rs 30 crore. The company is expected to achieve positive cash flow in the first quarter of FY25. This comes after its auditor, KPMG, expressed concerns about the company's financial runway in its annual financial report. Pratilipi has raised over $80 million in funding from investors such as Tencent, Nexus Venture Partners, and Omidyar Network.

ETtech Deals Digest: Startups raise $282 million in week to December 6; up 133% on-year

Economic Times

Economic Times · 7m ago

ETtech Deals Digest: Startups raise $282 million in week to December 6; up 133% on-year

Startups raised $281.6 million between November 30 and December 6, a 132.7% increase from the same period last year. However, this is a decline of 78% from the previous week. Notable funding deals include housing finance company Vastu Finance raising $100 million from Prosus, supply chain finance firm Mintifi raising $80 million from Prosus, solar energy startup Glow raising $30 million, customer feedback analytics platform Enterpret raising $20.8 million, and electric two-wheeler maker Ultraviolette raising $15.3 million.

AI knowledge transfer platform ByteEdge raises $1.5 million in round led by TRTL Ventures

Economic Times

Economic Times · 2m ago

AI knowledge transfer platform ByteEdge raises $1.5 million in round led by TRTL Ventures

ByteEdge, an AI knowledge transfer platform, secured $1.5 million in funding led by TRTL Ventures. Founded by Kamal Dutta and Akash Gupt in 2022, the New Delhi-based startup transforms documents into multilingual short videos to aid deskless workers. The funds will boost product development and Indian market expansion, with plans for Middle East and US market entry. Currently, 80-85% of ByteEdge's business is in India, serving over 30 global enterprises.

India’s startup landscape: Funding winter continues as investment plummets

Economic Times

Economic Times · 1y ago

India’s startup landscape: Funding winter continues as investment plummets

India's startup ecosystem, the third largest in the world, has struggled with a decrease in funding. In 2023, venture capital investments in India dropped to $11 billion, a sharp decline from the $42 billion in 2021. The total value and number of deals also decreased by over 60%, with late-stage funding experiencing an 82% drop since 2021. Additionally, the number of startups reaching unicorn status decreased significantly from 45 in 2021 to just two in 2023. This has led some startups to consider going public earlier rather than seeking late-stage funding.

US startup funding plummets 30% to $171 billion in 2023 despite AI frenzy

Economic Times

Economic Times · 1y ago

US startup funding plummets 30% to $171 billion in 2023 despite AI frenzy

According to PitchBook data, US startup funding dropped by almost 30% in 2023, with investors injecting $170.6 billion compared to the $242.2 billion in 2022. This decline is attributed to valuation resets and rising interest rates in the venture capital funding market. However, there was a slight increase in deal activity in the fourth quarter, sparking hopes for market stabilization. AI startups attracted significant investment, with OpenAI and Anthropic accounting for 10% of the total deal value. Valuation resets affected late-stage companies, with a larger number of startups raising funds at lower valuations than in previous rounds.

Startup funding down 80% to $144 million this week

Economic Times

Economic Times · 1y ago

Startup funding down 80% to $144 million this week

Investments in Indian startups plummeted by about 80% year-on-year, reaching $143.9 million across 26 deals for the week. In the same period last year, startups secured $722 million in 30 rounds. Late-stage funding led this week's capital influx at $65 million, accounting for 45.2% of the total, followed by $55.3 million in early-stage funding, constituting 38.4%. Notable deals include Nazara Technologies raising Rs 250 crore, International Battery Company securing $35 million, Wow! Momo Foods garnering Rs 350 crore, FinAGG Technologies raising $11 million, and Alt Mobility receiving $6 million.

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