ETtech deals digest: Startups raise $327.3 million in week to February 14; up 27.8% on-year

Startups raised around $327.3 million between February 8 and 14, marking a 27.8% increase compared to the same period last year.

This also represents a 65% surge from last week’s total of $198.3 million.

This week, startups, across seed, early and late stages, raised funds through 30 deals, compared to 39 deals in the year-ago period, when they raised a total of $256 million, according to data from Tracxn.


Top deals of the week

ToneTag: Digital payments startup ToneTag secured $78 million in a fresh funding round from stock market veteran Ravi Dharamshi’s private equity fund ValueQuest Scale Fund and venture fund Iron Pillar. Existing investor Elevate Capital has also participated in the round, which included both primary and secondary capital.

SpotDraft: Software-as-a-service (SaaS) firm SpotDraft, which specialises in contract management and legal agreements, secured $54 million in Series B funding from investors led by Vertex Growth and Trident Partners.

Zeta: Banking technology startup Zeta secured $50 million in equity funding from US-based healthcare and financial services firm Optum.

Rapido: Bengaluru-based ride-hailing firm Rapido raised $29.8 million from Dutch investment firm Prosus.