ETtech Deals Digest: Pocket FM sweeps 46% of startup funding this week
economictimes.indiatimes.comPocket FM scooped up 46% of the $223 million in startup funding this week — pushing up the share of dealmaking in the late-stage category, as per Tracxn data. Growth-stage deals commanded 79%, followed by the early stage at 11.2%.
The latest week’s number was a 67% drop from the year-ago total of $670 million. During the same period last year – March 16th to 22, 2023 – omnichannel eyewear retailer Lenskart had raised $500 million from Abu Dhabi Investment Authority in exchange for a 10% stake.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisit<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-108713561»>This week’s funding also represents a sequential 30% increase from last week’s $172 million, spread across 11 deals. The $223 million that came in this week was spread over 17 deals.
Deal density in the week averaged at about $13 million per deal. The Pocket FM deal apart, the same figure was estimated to be at $7.5 million.
In the same week last year, deal density stood at about $26 million, and $6.8 million per deal. By February and March 2023, the funding winter among Indian startups was in full force.
Other top deals in the week:
The Good Glamm Group: The beauty products and content company raised about $30 million through a rights issue at a flat valuation of $1.2 billion from existing investors, including Warburg Pincus.
Curefoods: The cloud
