ETtech Deals Digest: Startups close $676 million in funding this week, up 10x on-year

Startups closed around $676.1 million between October 11 and 17, a 10-fold increase from the $67.3 million raised during the same period last year, on the heels of a quick commerce platform’s $450 million funding round.

The tally was also more than two-fold from the $316.1 million raised the previous week.

The number of deals, however, dropped on a year-on-year (YoY) basis, with 20 transactions recorded this week compared with 33 a year earlier.

Top deals of the week

Zepto: Quick commerce platform Zepto closed a $450 million round in a mix of primary and secondary transactions. The primary funding valued the company at $7 billion, up from the $5 billion ascribed to it last year. According to documents sourced from the Registrar of Companies (RoC), Zepto received a primary infusion of nearly $300 million.

Kuku FM: Audio and video content platform Kuku FM closed a funding round of $85 million led by Granite Asia, with existing investors, including Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft participating. The latest round values the startup at $550 million post-money, according to sources.

Dezerv: Wealth management platform Dezerv raised Rs 350 crore in a funding round co-led by existing investors Premji Invest and Accel’s Global Growth Fund, with participation from Elevation Capital and Z47.