ETtech Deals Digest: weekly funding in Indian startups falls 86% YoY with no late-stage fundraises

Funding activity in the Indian startup ecosystem saw another muted week. A total of $87 million was raised across 12 rounds between March 18 and March 24, according to data provided by market intelligence firm Tracxn.

This represents an 86% dip in the amount of funding, compared to the same period last year, when $609 million were poured into startups.

According to Tracxn data, no late-stage startups received funding this week, with early-stage startups picking up $68.2 million. This represented 78.5% of the overall weekly funding, while seed-stage companies racked up at $18.63 million, making up for the remaining 21.5%.

Here are the startups that got funded this week:

EV charging infra platform CHARGE+ZONE raises $54 million: Electric vehicle charging infra platform CHARGE+ZONE on Monday announced raising $54 million (Rs 450 crore) in Series A1 funding round led by global impact investment management firm BlueOrchard Finance. Additionally, the company plans to raise $75-100 million in equity as part of Series A2 during 2023-2024, CHARGE+ZONE said in a statement.

Travel tech startup Mystifly raises $8 million: Singapore-based travel tech startup Mystifly on Thursday announced that it has raised funds from CSVP (Cornerstone Venture Partners), concluding its pre-series B funding at $8 million, which includes earlier investments from RSI Fund (a subsidiary of Recruit), Jenfi & Crusade Partners, among others.

Healthcare startup Sukino raises Rs 50 crore: Healthcare services platform Sukino Healthcare Solutions has secured an equity investment of Rs 50 crore from Stakeboat Capital. Founded in 2015, the Bengaluru-based startup offers services that cater to the long-term healthcare needs of patients with chronic ailments.

Milkbasket cofounder's Sorted bags $5 million: Fresh fruits and vegetable supply chain startup Sorted, which is founded by Milkbasket cofounder Anant Goel, has raised $5 million as a part of its ongoing seed funding round.