ettech deals digest: ETtech Deals Digest: Startup funding drops 59% to 12 deals this week

Companies in seed, early and late-stages had raised about $186 million from 29 rounds in the period from February 23 to March 1, 2023, as per data from Tracxn.

Late-stage funding – at $124.5 million – accounted for about 73% of the overall deal value this week, followed by the seed-stage at $31 million, or 18%.

The month of February saw startups raise $516 million across 82 rounds, versus $551 million across 109 rounds in January.

Sequentially, funding in the latest week saw a two-fold increase in value terms, and was down about 40% by volume. The week’s numbers in terms of value were largely buoyed by a $100 million fundraise at logistics startup Shadowfax.

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ETtech

Funding this week averaged about $14.3 million per deal, versus $6.4 million in the same week of February 2023, and $4.1 million in the previous week.Top deals:

Shadowfax: The hyperlocal logistics startup raised $100 million in a mix of primary and secondary investments as part of its latest funding round led by growth investor TPG NewQuest.

Avail: The blockchain technology raised $27 million for its early-stage funding round led by billionaire Peter Thiel’s Founders Fund and crypto investment firm Dragonfly Capital. Avail began in 2020 under crypto firm Polygon Labs, before being spun off last year.

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Mswipe: The merchant-focused payments provider raised $20 million in growth equity capital from its existing investors, led by Alpha Wave Global.

Mokobara: The internet-first direct-to-consumer luggage brand has raised $12 million in a funding round led by Peak XV Partners (formerly Sequoia Capital India), at a valuation of $80 million post-money.

IntrCity: The mobility platform that owns SmartBus and RailYatri raised Rs 37 crore (about $4.5 million) more in its Series C round. This round of investment was led by Mirabilis Investment Trust.

Companies in seed, early and late-stages had raised about $186 million from 29 rounds in the period from February 23 to March 1, 2023, as per data from Tracxn.

Late-stage funding – at $124.5 million – accounted for about 73% of the overall deal value this week, followed by the seed-stage at $31 million, or 18%.

ETtech

The month of February saw startups raise $516 million across 82 rounds, versus $551 million across 109 rounds in January.

Sequentially, funding in the latest week saw a two-fold increase in value terms, and was down about 40% by volume. The week’s numbers in terms of value were largely buoyed by a $100 million fundraise at logistics startup Shadowfax.

Discover the stories of your interest

ETtech

Funding this week averaged about $14.3 million per deal, versus $6.4 million in the same week of February 2023, and $4.1 million in the previous week.Top deals:

Shadowfax: The hyperlocal logistics startup raised $100 million in a mix of primary and secondary investments as part of its latest funding round led by growth investor TPG NewQuest.

Avail: The blockchain technology raised $27 million for its early-stage funding round led by billionaire Peter Thiel’s Founders Fund and crypto investment firm Dragonfly Capital. Avail began in 2020 under crypto firm Polygon Labs, before being spun off last year.

ETtech

Mswipe: The merchant-focused payments provider raised $20 million in growth equity capital from its existing investors, led by Alpha Wave Global.

Mokobara: The internet-first direct-to-consumer luggage brand has raised $12 million in a funding round led by Peak XV Partners (formerly Sequoia Capital India), at a valuation of $80 million post-money.

IntrCity: The mobility platform that owns SmartBus and RailYatri raised Rs 37 crore (about $4.5 million) more in its Series C round. This round of investment was led by Mirabilis Investment Trust.