ETtech Deals Digest: Perfios, Lohum deals boost startup funding nearly 3x to $187 million this week

economictimes.indiatimes.com:

Perfios and Lohum raised equity-based funding of over $50 million each this week – a rare feat for companies in the stage, given the slow state of deal-making.

The two deals helped push up overall funding numbers by nearly three times to $186.6 million, deployed across 10 deals. This was up 188% from $64.9 million across 32 deals in the same week a year ago – March 9 to March 15, 2023.

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Accordingly, deal density during the week also rose to about $19 million per deal, as against $2 million in the same period last year, and $7 million in the previous week.

Sequentially, funding in the latest week saw an increase of about 52% in value terms, and was down about 41% by volume.

Energy transition materials maker Lohum raised $66 million in a primary and secondary-based funding round led by Mumbai-based Singularity Growth Fund.

Fintech-focused software startup Perfios secured $80 million from Teachers’ Venture Growth, the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan – making it the second company to achieve unicorn status this year.


The most significant amount of $103.6 million raised in the week was in the early stage, which accounted for about 56% of the overall deal value. This was followed by $80 million in the