ETtech Deals Digest: Startup funding rises 23% on year to $326 million this week

Technology startups logged funding worth about $326.1 million in the first week of June, a 22.6% increase on year. A $200-million deal at eyewear retailer Lenskart accounted for over 61% of the overall activity.

Startups, mostly late-stage, raised funds from 16 rounds, as per Tracxn data. In the same period, a year ago – June 1 to 7, 2023 – they had raised a total of $266 million. The funding winter was in full force by then, having set in from September 2022.


In terms of volume, total deals during the week stood at 16, compared to 49 a year ago, and 24 in the last week of May 2024. Sequentially, deal value was down about 44% from $584.6 million.

Top deals of the week

Lenskart: The eyewear retailer raised $200 million in secondary investment from Temasek and Fidelity Management & Research Company (FMR).

Fibe: The Pune-based consumer lending startup, previously known as EarlySalary, closed a $90-million financing round that included a secondary share sale by some existing investors.

Avail: The blockchain technology startup raised $43 million in a Series A funding round led by Founders Fund, Dragonfly and Cyber Fund.

Astrotalk: The online astrology platform business raised $9.5 million in a funding round from existing investors Left Lane Capital and Elev8 Capital.

LogicLadder: The sustainability and climate management solutions provider raised $2.5 million in a funding round led by Singapore-based Big Capital and Zerodha-backed venture fund Rainmatter.