About 17 Indian startups have raised $196.4 million in funding across 17 deals this week.
This represents a decrease of 75 per cent from the $800.5 million secured by the startups last week across 21 deals, reports Inc42.
The largest funding round was witnessed by non-banking financial company (NBFC) Northern Arc this week. It raised $75 million via non-convertible debentures (NCDs) from the Dutch entrepreneurial development bank FMO.
The Fintech sector emerged as the investors’ favourite this week as the startups in the space cumulatively secured $77.4 million across three deals.
Startups in the e-commerce sector raised $48.3 million across five deals, enterprise tech raised $25.8 million across three deals, real estate tech raised $20.2 million across one deal, and health tech raised $10.5 million.
However, seed funding dropped this week by 69 per cent to $6.9 million from last week’s $22.7 million, according to the report.
Software-as-a-service (SaaS) startup Rocketlane raised $24 million in its Series B funding round co-led by 8VC, Matrix Partners India and Nexus Venture Partners.
Co-working space solutions provider Smartworks has secured $20.24 million (Rs 168 crore) from a group of investors including Keppel, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and HNIs.
Meanwhile, a Nasscom report has said that India now ranks sixth among the top nine deep-tech ecosystems globally with 3,600 such startups, which received $850 million in funding last year.