ETtech Deals Digest: Startup funding surges 505% YoY to $289 million this week

Startups raised around $288.7 million between August 17 and August 23, reflecting an increase of 505.3% compared to the same period last year. This also marks a 21.2% rise from the previous week’s funding total of $238.1 million.

This week, startups raised funding through 16 rounds compared to 26 rounds in the same period last year, when they raised a total of $47.7 million, according to data from Tracxn.

Jewellery retailer Bluestone’s Rs 900-crore financing round was the largest this week.

Top deals of the week:

Bluestone: Jewellery retailer Bluestone mopped up Rs 900 crore in a financing round. This round more than doubled the initial public offering (IPO)-bound firm’s valuation to Rs 8,100 crore. The firm is expected to file the draft red herring prospectus (DRHP) with the stock market regulator later this year.

Opkey: Artificial intelligence-based enterprise resource planning (ERP) platform Opkey raised $47 million in a series B funding round led by PeakSpan Capital.

Livpure: Water purifier brand Livpure raised Rs 208 crore in funding from M&G Investments through its catalyst investment strategy, along with an additional Rs 25 crore from Ncubate Capital Partners.

Hangyo: Mangaluru-based ice cream brand Hangyo Ice Cream raised Rs 211 crore from venture capital firm Faering Capital.

Even: Healthcare startup Even raised $20 million in a funding round led by Khosla Ventures.