ETtech Deals Digest: Startup funding drops 61% on year to $128 million this week

Startups raised about $128.3 million between September 7 and 13, a 60.8% decline compared to the same period last year. This also represents a 41.8% drop from the previous week’s $220.3 million.

This week, startups raised funding through 20 rounds compared to 31 in the year-ago period, when they raised a total of $327 million, according to data from data intelligence platform Tracxn.

Top Deals of the Week:

Flexiloans: Digital lending startup Flexiloans has secured Rs 290 crore (around $35 million) in an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen and Nandan Nilekani-backed venture fund Fundamentum. Denmark-based Maj Invest, which invested in its last round, also participated in this round.

Onsurity: Employee healthcare platform Onsurity raised $26.4 million in a funding round led by Creaegis. The round also saw participation from existing investors Nexus Venture Partners and Quona Capital.

Centricity: Gurugram-based wealthtech startup Centricity raised $20 million in a seed funding round led by Lightspeed India Partners, with participation from returning investors Burman Family Office and Shantanu Agarwal, among others.

AppsForBharat: The parent company of devotion platform Sri Mandir, AppsForBharat raised $18 million in a funding round led by Fundamentum. The round also saw participation from Susquehanna Asia VC and existing investors Elevation Capital, Peak XV Partners, and Mirae Asset VC.

Nestasia: Home decor and lifestyle brand Nestasia raised $8.35 million in a funding round from Susquehanna Asia VC, Stellaris Venture Partners and other angel investors.