ETtech Deals Digest: Startups raise $1.47 billion in August; up 89% on year
Startups raised a total funding of about $1.47 billion in August 2024, marking an 89% increase from the same period last year, when they had raised a total of $779 million across 123 rounds.
Startups, primarily in the early and late stages, secured funding through 86 rounds, according to data from the private market intelligence platform Tracxn.
In July 2024, startups raised around $718 million from 72 rounds.
In the last week—from August 24 to August 30—the deal value rose to $442.8 million from 23 rounds, compared to $351 million raised in the same period last year through 32 rounds.
Top deals of the month
Zepto: Mumbai-based quick commerce firm Zepto raised $340 million from new investors General Catalyst, Mars Growth Capital, Epiq Capital, and others, taking the total funds it raised in the past two months to $1 billion. Post this funding, Zepto’s valuation has jumped to $5 billion.
DMI Finance: Japanese banking giant Mitsubishi UFG Financial Group invested $334 million in Delhi-based digital lending company DMI Finance. The investment was made through its consolidated subsidiary MUFG Bank.
Bluestone: Jewellery retailer Bluestone raised Rs 900 crore in a financing round. This round more than doubled the initial public offering (IPO)-bound firm’s valuation to Rs 8,100 crore.
Ather Energy: Electric scooter maker Ather Energy closed $71 million in funding from existing investor National Investment and Infrastructure Fund (NIIF). Post the funding, the firm has been valued at $1.3 billion, which makes it the
