ETtech Deals Digest: Startup funding jumps 77% to $144 million this week

Startup funding in the third week of February 2024 rose by about 77% from the same week a year ago, totalling $143.6 million across 21 different deals.

Companies, across seed, early and late-stages, had raised about $81 million from 32 rounds in the period from February 10 to February 16, 2023, as per data from Tracxn.

The most significant amount of capital raised in the week was in the early stage, at about $109 million, which accounted for about 76% of the overall deal value. This was followed by $25 million in the late stage, commanding 17.4%.

Sequentially, funding during this week saw a drop of about 7% in value terms, and down about 22% by volume.

The latest week’s figures average at about $6.8 million per deal, versus $2.5 million in the same week of February 2023, and $5.7 million in the second week of February 2024.

Top deals:
Captain Fresh: The online seafood firm raised $25 million in a funding round led by UK government-backed British International Investment (BII) and Andhra Pradesh-based Nekkanti Seafoods Group.

Astrotalk: The spiritual tech startup raised $20 million in a Series A round from Left Lane Capital, a New York-based venture capital firm.

Amber: The student accommodation platform raised $21 million in its first round of institutional funding, led by Mumbai-based private equity firm Gaja Capital.

Supertails: The petcare products and services startup raised $15 million led by RPSG Capital Ventures.

MetalBook: The platform for the global metals supply chain raised $15 million in its Series A funding round led by Rigel Capital.