ETtech Deals Digest: Yotta fundraise lifts weekly tech funding to $228 million, up 95% on-year
The week’s funding was concentrated in late-stage deals, which accounted for nearly three-fourths of the total capital raised. Early-stage rounds made up 18.4%, while seed-stage startups accounted for 8.1% of the total.
By ETtech |
ETBFSI
Funding across Indian tech and startup deals rose to $228.2 million across 21 rounds during the week ended July 10, led by Yotta Data Services’ $150 million financing round, data from Tracxn showed. The weekly tally was 90.4% higher than the previous week, when companies raised $119.9 million, and 94.5% above the same period last year.
The week’s funding was concentrated in late-stage deals, which accounted for nearly three-fourths of the total capital raised. Early-stage rounds made up 18.4%, while seed-stage startups accounted for 8.1% of the total.
Blume Ventures was among the most active investors this week, backing WizCommerce and Neothera. Auxano participated in Stylework’s round, while Inflection Point Ventures backed BAAS Technologies.
Top deals this week
Yotta: Data centre and cloud infrastructure company Yotta Data Services raised about $150 million from non-institutional investors at a valuation of around $3.9 billion, or about Rs 37,000 crore. The Hiranandani Group subsidiary is raising capital to expand its artificial intelligence and cloud infrastructure businesses.
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Adage Automation: Industrial gas analytics and environmental monitoring company Adage Automation raised Rs 230 crore ($24.2 million) in a growth funding round led by InCred Alternative Investments. InCred Growth Partners Fund invested Rs 180 crore, while Global South Capital and Prachetas Capital also participated in the round. The company supplies gas analyser systems and air-quality monitoring systems to sectors including oil and gas, steel, cement, chemicals and power.
Elevate Education: Formerly known as Sunstone, Elevate Education, raised Rs 170 crore ($17.7 million) from WestBridge Capital. The higher education platform plans to use the funds to expand its campus partnerships, strengthen its technology platform and improve student outcomes. The company expects to reach Rs 300 crore in revenue by FY27 and turn profitable.
Other notable deals this week included Wheelocity’s $8.5 million round, WizCommerce’s $8.3 million fundraise, Econovus Packaging’s $4.2 million round, Mowito’s $3 million pre-seed funding and Milo Drive’s $2.4 million seed round.
