ETtech Deals Digest: Startup funding plunges 28% on-year to $210 million this week

Startups raised around $210.4 million in the third week of July (July 13-19), marking a 28.2% decrease compared to the same period last year. However, this is 200.6% higher than last week's funding total of $70 million.

This week, startups, primarily at the early and late stages, raised funding through 21 rounds, down from 27 rounds during the same period last year, when they raised a total of $293 million, according to data from Tracxn.

JP Morgan, DBS, Temasek and Standard Chartered-backed blockchain-based clearing and settlement network Partior’s $60 million Series B round, led by Peak XV Partners, emerged as the biggest funding round of the week.

Top Deals of the Week:

Partior: Blockchain-based clearing and settlement network Partior, backed by JP Morgan, DBS, Temasek and Standard Chartered, raised $60 million in a Series B funding round led by Peak XV Partners (formerly Sequoia Capital India). Other investors include Jump Trading and Valar Capital.

Auxilo Finserve: Mumbai-based education-focused, non-banking financial company Auxilo Finserve raised $33.4 million in an equity funding round led by LeapFrog Investments, with participation from existing investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II.

BluSmart: Ride-hailing startup that uses only electric vehicles, BluSmart, raised $24 million in a funding round led by its existing investors Zurich-based climate finance firm ResponsAbility Investments, cricketer MS Dhoni’s Family Office, and ReNew founder Sumant Sinha.

Lenskart: Omnichannel eyewear retailer Lenskart’s founders Peyush Bansal, Neha Bansal, Amit Choudhary and Sumeet Kapahihave invested nearly $20 million in the Gurugram-based company. On June 3, Lenskart had raised $200 million from Singapore government’s sovereign fund Temasek and US financial services major Fidelity through a secondary share sale.

Newme: Omnichannel fashion brand Newme, focused on new-gen customers, raised $18 million in a funding round led by venture capital firm Accel along with participation from existing investors, including Fireside Ventures and AUM Ventures.

Namma Yatri: Ride-hailing upstart Namma Yatri raised its maiden funding of $11 million at a $55-million valuation. The round was led by Blume Ventures and Antler, with participation from Google and several angel investors.