ETtech Deals Digest: Startups raise $219 million this week, down 43% on-year

Startups raised around $219 million during the week of August 2 to 8, marking a 43.4% decline from the $386.6 million raised during the same period last year, according to data from Tracxn.

However, the funding amount increased from the previous week, rising 74.2% from $125.7 million.

Deal activity, too, declined this week on a year-on-year (YoY) basis, with 29 transactions recorded during the period, compared to the 40 deals seen in the corresponding week last year.

Top deals of the week

The Sleep Company: Direct-to-consumer (D2C) startup The Sleep Company raised Rs 480 crore in a mix of primary and secondary funding, with private equity (PE) firm ChrysCapital and 360 One Asset investing in the round. As part of the transaction, early backer Fireside Ventures made a partial exit through secondary share sales.

Alaan: Spend management platform Alaan raised $48 million in a funding round led by VC firm Peak XV Partners. The round, which was a mix of primary and secondary capital, also saw participation from founders of 885 Capital, Sudeep Ramnani and Jai Mahtani, Y Combinator, 468 Capital, and Pioneer Fund.

Renee Cosmetics: D2C beauty brand Renee Cosmetics raised $30 million in a funding round led by growth capital firm Playbook, with a secondary transaction from Midas. The investment valued the company at $200 million.

SuperGaming: Pune-based gaming company SuperGaming raised $15 million in a funding round led by existing investor Skycatcher and Steadview Capital, valuing the company at $100 million.

Jeh Aerospace: Aerospace manufacturing startup Jeh Aerospace raised $11 million in a funding round led by Elevation Capital, with participation from existing investors like San Francisco-based General Catalyst.