ETtech Deals Digest: Startups raise $316 million this week, up 4x on-year

Startups raised around $316.1 million between October 4 and 10, up around 3.7 times from the $86.7 million raised during the same period last year, according to data from Tracxn.

The tally was also 12.1% more than the $282 million raised the previous week.

The number of deals, however, dropped on a year-on-year (YoY) basis, with 31 transactions recorded this week compared with 37 a year earlier.

Top deals of the week

Raise Financial: Stock-trading startup Dhan’s parent company, Raise Financial, closed a $120 million financing round led by Hornbill Capital, valuing the company at around $1.2 billion. The round also saw participation from Japan’s Mitsubishi UFJ Financial Group (MUFG), Beenext, and other investors.

Intangles: Predictive artificial intelligence (AI) platform for automobiles, Intangles, has raised $30 million led by Avataar Venture Partners, with participation from Baring India Private Equity and Cactus Partners.

Qapita: Equity management startup Qapita raised $26.5 million in a funding round led by US-based brokerage giant Charles Schwab Corporation.

JSW One Platforms: The business-to-business (B2B) ecommerce arm of JSW Group, JSW One Platforms, raised an additional $26.5 million in a funding round that saw participation by the State Bank of India (SBI), Principal Asset Management, group company JSW Steel, OneUp, International Conveyors, and Scarlett Ventures. The total funding for this round stands at $64.8 million.