ETtech Deals Digest: Startups raise $1.15 billion in October, up 59% on year

Startups raised a total funding of about $1.15 billion in October (October 1 to 30), marking a 59.2% increase from the same period last year, when they had raised a total of $720 million across 146 rounds.

Startups, primarily in the early and late stages, secured funding through 86 rounds, according to data from private market intelligence platform Tracxn.

In September 2024, startups raised around $1.35 billion from 97 rounds.


In the last week—from October 26 to 30—startups raised around $258 million.

Top deals of the month

Purplle: Omnichannel beauty products retailer Purplle extended its latest funding round by Rs 500 crore to close at Rs 1,500 crore (around $180 million). The overall round was led by the Abu Dhabi Investment Authority (ADIA) with additional participation from existing investors such as Premji Invest and Blume Ventures.

Eruditus: Executive education startup Eruditus raised $150 million at a flat valuation of $3.2 billion post-money, led by TPG Rise, an impact investment fund from the US private equity investment firm.

Finova Capital: MSME-focused non-banking financial company (NBFC) Finova Capital raised $135 million (about Rs 1,135 crore) in a funding round led by Avataar Venture Partners, Sofina and Madison India Capital, with existing investor Norwest Venture Partners also participating.

Upgrad: Higher education and upskilling startup Upgrad raised an additional $60 million at a flat valuation of $2.25 billion from Singapore sovereign wealth fund Temasek.