ETtech Deals Digest: Startup funding touches $355 million this week, up 34% on-year

Startups raised around $355.2 million between December 13 and 19, an increase of 33.9% compared to the $265.2 million secured during the same period last year, according to data from data intelligence platform Tracxn.

This week’s tally, however, was 5.3% lower than the $375.2 million raised in the previous week.

The deal activity slowed year-on-year (YoY), with 27 transactions recorded compared with 40 in the same week last year.

Top deals of the week

MoEngage: Enterprise software-as-a-service (SaaS) startup MoEngage closed an additional $180 million as part of its ongoing funding round, taking the total deal size up to $280 million. The latest infusion was led by private equity major ChrysCapital and Singapore’s Dragon Fund, which is backed by Japan's largest bank, Mitsubishi UFJ Financial Group.

Digantara: Spacetech startup Digantara raised $50 million from 360 One Asset, Tokyo-based asset management firm SBI Holdings, and UpGrad founder Ronnie Screwvala, along with existing backers Peak XV Partners and Kalaari Capital.

Qucev: Electric commercial vehicle startup Qucev raised around $15 million in a round led by existing investor Singularity AMC with the participation of Lotus Family Trust and others.