ETtech Deals Digest: Startups raise $142.7 million this week, up 8.5% on-year
ETtech
Synopsis
Startups across seed, early and late stages raised the funds through 14 deals, compared to 64 in the year-ago period. Top deals across the week included Syfe, Udaan, Pepperfry and Stable Money.
By ETtech
Startups in India raised $142.7 million in funding across 14 rounds between May 31 and June 6, up 8.5% over the same week last year.
Deal activity was high among late and early-stage startups, lagging in the seed stage.
Top deals this week
Syfe: The Singapore-based wealth management platform raised $53 million in a fresh funding round, led by two UK-based family offices. In August 2024, the company had raised $27 million as part of the same round, and this extension takes the total funds raised in the round to $80 million.
Udaan: Business-to-business (B2B) ecommerce platform Udaan closed a $114 million funding round led by existing investors M&G Prudential (UK) and Lightspeed Venture Partners. The round, executed at a flat valuation of $1.8 billion, includes the previously disclosed $75 million infusion from the two investors, which founder and CEO Vaibhav Gupta had announced during a townhall earlier this year.
Stable Money: The wealthtech startup, which provides digital fixed-return investment products, raised $20 million (Rs 173 crore) in a funding round led by Infosys cofounder Nandan Nilekani’s Fundamentum Partnership.
LoanTap: Pune-based digital lending platform Loantap announced raising $6.2 million in fresh equity funding led by July Ventures. Existing investors 3one4 Capital, Avaana Capital, Kae Capital and the Swapurna Family Office also participated in the round.
GyanDhan: Education financing startup GyanDhan has raised Rs 50 crore in a funding round from edtech firm Classplus and venture capital firm Pravega Ventures. The funds will be used for scaling operations, strengthening its consultant partnership network, expanding the team, and investing in technology.
Pepperfry: Omnichannel furniture and home goods company Pepperfry raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others.
StrideGreen: StrideGreen, a climate-tech-focussed asset financing and management platform, raised $3.5 million in a funding round led by the clean mobility-focused Micelio Technology Fund.
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In the same period last year, startups had raised $131.5 million across 64 rounds. Funding fell marginally over the last week, where $147.7 million was raised in 16 rounds.Deal activity was high among late and early-stage startups, lagging in the seed stage.
Top deals this week
Syfe: The Singapore-based wealth management platform raised $53 million in a fresh funding round, led by two UK-based family offices. In August 2024, the company had raised $27 million as part of the same round, and this extension takes the total funds raised in the round to $80 million.
Udaan: Business-to-business (B2B) ecommerce platform Udaan closed a $114 million funding round led by existing investors M&G Prudential (UK) and Lightspeed Venture Partners. The round, executed at a flat valuation of $1.8 billion, includes the previously disclosed $75 million infusion from the two investors, which founder and CEO Vaibhav Gupta had announced during a townhall earlier this year.
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Stable Money: The wealthtech startup, which provides digital fixed-return investment products, raised $20 million (Rs 173 crore) in a funding round led by Infosys cofounder Nandan Nilekani’s Fundamentum Partnership.
LoanTap: Pune-based digital lending platform Loantap announced raising $6.2 million in fresh equity funding led by July Ventures. Existing investors 3one4 Capital, Avaana Capital, Kae Capital and the Swapurna Family Office also participated in the round.
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GyanDhan: Education financing startup GyanDhan has raised Rs 50 crore in a funding round from edtech firm Classplus and venture capital firm Pravega Ventures. The funds will be used for scaling operations, strengthening its consultant partnership network, expanding the team, and investing in technology.
Pepperfry: Omnichannel furniture and home goods company Pepperfry raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others.
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StrideGreen: StrideGreen, a climate-tech-focussed asset financing and management platform, raised $3.5 million in a funding round led by the clean mobility-focused Micelio Technology Fund.
