ETtech Deals Digest: Weekly funding up on year at $167 million, but dips sequentially

The funding climate for Indian technology startups improved year-over-year, with $166.9 million deployed across 15 funding rounds in the week of November 4-10, according to data from Tracxn.

In the comparable week in 2022, startups had raised $133 million across 21 funding rounds. The deals this week averaged about $11.13 million per deal, versus $6.33 million per deal in 2022.

Sequentially, the week saw a 29% decline in terms of total volume, and a 207.5% rise in terms of total value. The current funding winter began to set in from September 2022.

Here are the startups that got funded this week:

XpressBees: The logistics firm raised $80 million in a new funding round led by Ontario Teachers’ Pension Plan Board’s late-stage venture growth fund, TVG.

Zepto: The quick-commerce unicorn raised another $31 million in an extended funding round.

Euler Motors: The commercial electric vehicle maker raised $14.4 million in a funding round from a bunch of investors including British International Investment (BII), the UK government's development finance institution and impact investor.

Snaptrude: The software provider for designs in construction projects raised $14 million in a Series A funding round led by Foundamental VC and Accel.

Sequretek: The cybersecurity solutions provider raised $8 million in a series A funding round led by Omidyar Network India.