ETtech Deals Digest: Startups raise $50 million this week, down 61% on-year
Startups raised around $50.2 million between December 27 and January 2, a decline of 61.4% compared to the $130 million secured during the same period last year, according to data intelligence platform Tracxn.
This week’s tally was 63.7% lower than the $138.4 million raised in the previous week.
The deal activity also slowed significantly year-on-year (YoY), with five transactions recorded compared with 43 in the same week last year.
Top deals of the week
Knight Fintech: Mumbai-based banking infra company Knight Fintech raised $23.6 million in a funding round led by early-stage venture firm Accel, with participation from IIFL and Rocket Capital. Existing investors Prime Venture Partners, 3One4 Capital, Commerce VC, and Trifecta Capital also participated in the round.
Wow! Momo: Quick service restaurant chain Wow! Momo Foods raised around $8.3 million in fresh funding led by Madhusudan Kela, founder of Singularity AMC.
This week’s tally was 63.7% lower than the $138.4 million raised in the previous week.
The deal activity also slowed significantly year-on-year (YoY), with five transactions recorded compared with 43 in the same week last year.
Top deals of the week
Knight Fintech: Mumbai-based banking infra company Knight Fintech raised $23.6 million in a funding round led by early-stage venture firm Accel, with participation from IIFL and Rocket Capital. Existing investors Prime Venture Partners, 3One4 Capital, Commerce VC, and Trifecta Capital also participated in the round.
Wow! Momo: Quick service restaurant chain Wow! Momo Foods raised around $8.3 million in fresh funding led by Madhusudan Kela, founder of Singularity AMC.
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