ETtech Deals Digest: Startups raise $83 million this week, down 41% on-year
The number of deals during the week was also down to half at 21 transactions, compared to 43 in the corresponding week last year.
By ETtech |
Agencies
Startups raised around $83.1 million between September 6 and 12, a 40.8% decrease from the $140.3 million raised during the same period last year, according to data from Tracxn.
The tally was also 53.9% less than the $180.3 million raised the previous week.
Deal activity, too, halved on a year-on-year (YoY) basis, with 21 transactions recorded this week compared with 43 a year earlier.
Top deals of the week:
Tern: Global recruitment platform Tern Group raised $24 million in a funding round led by UK-based Notion Capital. RTP Global, LocalGlobe, EQ2 Ventures, and Leo Capital, along with existing investors Presight, Tom Stafford, cofounder of DST Global, and others, also participated in the round. Flipspaces: Interior design startup Flipspaces raised an additional $9.1 million in its extended Series C round from UAE-based CE-Invests, Panthera Growth Partners, and SMBC Asia Rising Fund. With this, the company has now raised $50 million in the round. Trufrost & Butler: Commercial refrigeration and foodservice equipment provider Trufrost & Butler raised $7 million in funding from private equity fund Carpediem Capital.
