ETtech Deals Digest: Startups raise $46 million this week, down 66% on-year

Startups raised around $46 million in the week to 17 February, down 66% from the $135 million secured during the same period last year, according to data intelligence platform Tracxn.

This week’s tally, however, was down 87% from the previous week, when startups raised $370 million.

The number of rounds also decreased this year, with $46 million invested across just 10 deals, compared to $135 million spread over 37 deals last year.

This week’s top three deals were Promaft Partners’ investment in The Hosteller, SIG Venture Capital’s investment in GobbleCube, and IvyCap Ventures Advisors’ investment in TraqCheck.

Top deals of the week

The Hosteller: Mumbai-based backpacker hostel chain The Hosteller has raised Rs 150 crore (approximately $16 million) in a Series B round co-led by Promaft Partners and V3 Ventures, with participation from ITI Growth Opportunities Fund, Merisis Wealth Trust, and several family offices. The company was founded in 2014 by Pranav Dangi.

GobbleCube: Gurugram-based consumer brand analytics platform GobbleCube has raised $15 million in a funding round led by Susquehanna Venture Capital, with participation from existing investors InfoEdge Ventures and Kae Capital through its Winners Fund. The company was founded in 2022 by former Blinkit executives Gupta, Srikumar Nair, and Nitesh Jindal.

TraqCheck: New Delhi-based TraqCheck, an AI enterprise startup focused on HR systems, has raised $8 million in a Series A round led by IvyCap Ventures, with participation from IIFL. Founded by Armaan Mehta and Jaibir Nihal Singh, the company had earlier raised funding in September last year from angel investors including Peyush Bansal and Alok Oberoi.