ETtech Deals Digest: Startup funding down 41% to $53 million this week, volume stays flat

Startup funding in the first week of April 2024 declined by 41% from the same period a year ago, totalling $52.8 million across 17 deals, even as the total number of deals stagnated at 17.

Accordingly, deal density in the latest week went down to about $3 million per deal. During March 30 to April 5, 2023, startups had raised about $5 million per deal.

Funding was down sequentially as well, from $215 million across 33 funding rounds in the previous week.

Of the total corpus raised this week, marketing software startup SingleInterface accounted for about 57%. It raised $30 million in its first external funding round from investors led by Asia Partners.

Early-stage startups commanded about 74%, raising $39 million. Seed-stage startups raised $9 million, accounting for 17%, while late-stage startups held only about 9% with a $4.8 million round at payment software maker Innoviti Technologies.

Top deals:

SingleInterface: The Gurugram-based company raised $30 million to develop its product and expand across Southeast Asia and in newer markets such as Japan and Australia.

Traya Health: The hair-loss solutions startup raised $8.9 million in equity funding from Mumbai-based private equity fund Xponentia Capital.

Innoviti: The payments-focussed retail software-as-a-service platform raised $4.7 million, in the first close of an ongoing Series E round.

5th Scape: The virtual reality-based social platform raised $2.5 million from undisclosed investors.

WIFY: The provider of furniture installation services to home improvement brands raised $2 million from existing investor Capria Ventures.