ETtech Deals Digest: Startups raise $124 million this week, down 59% on-year
The number of deals during the week was down at 26 transactions, compared to 37 in the corresponding week of the previous year.
By ETtech |
ETtech
Startups raised around $123.9 million during the week of July 12 to 18, marking a 59% decline from the $307.7 million raised during the same period last year, according to data from Tracxn.
However, the funding amount saw a rebound from the previous week, nearly doubling from $62.1 million.
Deal activity, too, declined this week on a year-on-year (YoY) basis, with 26 transactions recorded during the period, compared to the 37 deals seen in the corresponding week last year.
Top deals of the week
PayU: Digital payments firm PayU received a capital infusion of $35.1 million from its parent, Prosus, the Dutch-listed arm of South African technology investor Naspers.
QpiAI: Quantum computing startup QpiAI raised $32 million in a funding round led by Avataar Venture Partners and India’s National Quantum Mission.
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Truemeds: Healthtech startup Truemeds raised $20 million as part of a funding round from Peak XV Partners. The company has raised a total of $113 million to date, according to Tracxn.
