ETtech Deals Digest: Startups raise $343 million this week, down 69% on-year
The number of deals during the week was down significantly at 29, compared to 44 in the corresponding week last year.
By ETtech |
ETtech
Startups raised around $343 million between March 14 and 20, a decline of 69% compared to the $1 billion secured during the same period last year, according to data intelligence platform Tracxn.
This week’s tally, however, was around 2.5 times the $139.1 million raised in the previous week this year.
The deal activity also slowed significantly this week, with 29 transactions recorded compared with 44 in the same week last year.
Ecofy: Non-banking finance company (NBFC) Ecofy, focussed on climate change solutions, raised around $42 million in an equity round from British International Investment and Finnfund. Existing investors Eversource Capital and FMO also participated in this round.
Atlys: Visa processing startup Atlys raised $36 million in funding led by Susquehanna Asia VC, with participation from existing investors Elevation Capital, Long Journey Ventures, and Peak XV Partners. Travel platform MakeMyTrip also joined the round as a new investor.
