ETtech Deals Digest: Startups raise $1.1 billion this week; up 5x on-year

Startups raised around $1.1 billion between March 15 and 21, marking an almost five times increase compared to the same period last year.

This also represents a 229.5% increase from last week’s total of $342.4 million.

This week, startups across seed, early and late stages, raised funds through 27 deals, compared to 37 deals in the year-ago period, when they raised a total of $238 million, according to data from Tracxn.

Top deals for the week:

Erisha E Mobility: Electric vehicle manufacturer Erisha E Mobility raised $1 billion in investment from a UAE-based industrial investor to establish smart manufacturing hubs.

Nivara Home Finance: Housing finance company Nivara Home Finance raised $28 million in a Series B funding round from True North and Baring Private Equity Partners.

Pilgrim: Direct-to-consumer (D2C) beauty and personal care brand Pilgrim raised $23.1 million through a mix of primary and secondary funding. The round was led by existing investor Narotam Sekhsaria Family Office (NSFO) and saw participation from Vertex Ventures SEA, Sattva Family Office, and Mirabilis Investment Trust.