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Informative
ETtech Deals Digest: Startup funding rises 23% on year to $326 million this week
Update / Judgement Date
06 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Start-Up & DPIIT
In the first week of June, technology startups secured $326.1 million in funding, marking a 22.6% increase from the previous year. Eyewear retailer Lenskart's $200 million deal, backed by Temasek and Fidelity Management & Research Company, dominated with over 61% of the total activity. \r
A total of 16 rounds, mostly late-stage, contributed to this surge, compared to 49 deals in the same period last year. Pune-based consumer lending startup Fibe closed a $90 million round, while blockchain startup Avail secured $43 million. \r
Other notable investments include Astrotalk's $9.5 million and LogicLadder's $2.5 million funding rounds.
