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Informative
ETtech Deals Digest: Startup funding drops 28% on year to $97 million this week
Update / Judgement Date
13 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Start-Up & DPIIT
Startups garnered $97 million in funding during the second week of June, marking a 28% decline from the same period last year. This week's total reflects a significant drop of 70% compared to the previous week's $326.1 million, largely driven by Lenskart's $200-million deal. \r
According to Tracxn data, 13 funding rounds were closed, predominantly at the early stage, in contrast to 34 rounds in the corresponding period last year that totaled $134 million. Indkal Technologies secured the largest share with $36 million, representing 38% of the total raised. \r
Other notable deals included Ethereal Machines' $13 million, Smartworks' $12 million, Hocco's $12 million, and Renee Cosmetics' $12 million Series B round.
