ETtech Deals Digest: Indian startups raise $177 million this week, led by EV and healthtech bets
Indian startups raised $177.6 million from 15 deals between May 17 and 23, a 2.7x rise year-on-year and up 12.7% from last week. Major deals included Euler Motors , CureBay, Cloudsek, and Mythik. Despite fewer deals compared to the same period las...
By ETtech | Updated:
Indian startups raised about $177.6 million during the week of May 17 to May 23, marking a 2.7x increase from the $65.8 million they secured during the same period last year, as per data from Tracxn.
The funding tally also rose 12.7% from last week’s $157.7 million. However, the number of deals fell to 15 from 34 in the corresponding week a year ago, underscoring continued investor caution and a focus on select, high-conviction bets.
Top deals of the week:
Euler Motors: The electric commercial vehicle manufacturer raised around $75 million in a round led by Hero MotoCorp. British International Investment (BII), the UK government’s development finance institution, also participated.
CureBay: Tech-enabled hybrid healthcare platform CureBay raised $21 million in a funding round led by Bertelsmann India Investments. BII and existing investor Elevar Equity also took part.
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Cloudsek: Predictive cybersecurity Cloudsek raised $19 million in a fresh funding round led by Tenacity Ventures and Commvault. Others participating in the round include Inflexor Ventures, MassMutual Ventures and Prana Ventures, along with some strategic investors.
Mythik: Media technology company Mythik, founded by former Housing.com and Freecharge CEO Jason Kothari, raised $15 million in a funding round from Sakal Media Group, Venture Catalysts-backed VC Grid, actor Shah Rukh Khan's family office, and Visceral Capital, among others.
