ETtech Deals Digest: August startup funding down nearly 70%; bleakest month in over a year
The figure is an almost 68% plunge from the $1.4 billion that venture capital firms deployed across 263 rounds in August 2022. Volume-wise, it’s a nearly 70% crash.
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As per Tracxn data reviewed by ET, monthly funding totals have never gone below $600 million, trailing at least as far back as March 2022 — 17 months ago, until July and August this year.
In the dataset, Inflection Point Ventures, Y Combinator and Venture Catalysts were the top three investment firms, indicating how a major chunk of the deals were early- and seed-stage.
Here are the top five startups that got the most funding in August:
Zepto raised $200 million: The Mumbai-based quick commerce startup bagged $200 million in funding led by new investor StepStoneGroup at a valuation of $1.4 billion, becoming the first unicorn of 2023.
Credgenics raised $50 million: The debt collections platformraised $50 million in a Series B round, led by Westbridge Capital, Accel, Tanglin Ventures and Beams Fintech Fund.
Disprz raised $30 million: Enterprise skilling company Disprz raised $30 million in its Series C funding round led by Lumos Capital Group and 360 ONE Asset (IIFL).
NSaaS raised $25 million: The SaaS-based fleet management solution for fleet operators raised $25 million from PreIPO, a digital marketplace for private securities that bring buyers and sellers
