ETtech Deals Digest: Startups raise $375 million this week, up 15% on-year
Despite the higher value, the number of deals during the week was down at 23 transactions, compared to 41 in the corresponding week last year.
By ETtech |
Agencies
Startups raised around $375.2 million between December 6 and 12, an increase of 15% compared to the $327.5 million secured during the same period last year.
This week’s tally was 66.3% higher than the $226 million raised in the previous week.
However, deal activity slowed year-on-year (YoY), with 23 transactions recorded compared with 41 in the same week last year.
Top deals of the week Harness: Enterprise artificial intelligence (AI) firm Harness, founded by serial entrepreneur Jyoti Bansal, closed a $240 million round, valuing it at $5.5 billion. This includes a $200 million primary investment led by Goldman Sachs and a purchase of shares worth $40 million by US-based venture firms IVP, Menlo Ventures, and Unusual Ventures from the company’s employees.
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Fibe: Fintech lender Fibe, backed by TPG, secured $35 million from the International Finance Corporation (IFC) as part of a funding round. ET had reported about this deal being in the works in August this year.
Inito: Healthtech firm Inito raises $29 million in a funding round led by Bertelsmann India Investments (BII), with participation from Fireside Ventures.
