ETtech Deals Digest: Startups raise $725 million this week, up 5X on-year
The number of deals during the week, however, was down at 32 transactions, compared to 42 in the corresponding week last year.
By ETtech |
ETtech
Startups raised around $725.4 million between February 14 and February 20, marking a nearly five-fold rise compared with the $157.4 million secured during the same period last year, according to data intelligence platform Tracxn.
However, the weekly tally was marginally lower than the $739.7 million raised in the previous week this year.
Deal activity also slowed this week, with 32 transactions recorded compared with 42 in the corresponding week last year.
Top deals of the week
Neysa: US alternative asset manager Blackstone announced it is leading a $1.2 billion investment in cloud infrastructure startup Neysa. The funding would be split equally between a $600 million primary equity infusion and $600 million in debt. Only the equity component has been included in the weekly funding tally. The funding round also saw participation from TVS Capital, 360 One Asset Management, and Neysa’s existing backer Nexus Venture Partners, among others.
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Stable Money: Fixed income investment startup Stable Money closed a $25 million funding round led by Peak XV Partners with participation from existing investors Fundamentum Partnership, Z47 (previously Matrix Partners India), and RTP Global.
Statiq: Electric vehicle charging startup Statiq secured $18 million in fresh funding led by Tenacity Ventures. Existing backers Y Combinator, Shell Ventures, and RCD Holdings also participated in the round.
