This week, 17 Indian firms have closed 17 transactions totaling $196.4 million in investment.
According to Inc42, this is a 75% drop from the $800.5 million in 21 agreements that the businesses closed previous week.
This week, Northern Arc, a non-banking financial corporation (NBFC), saw the highest investment round. Through non-convertible debentures (NCDs) from the Dutch entrepreneurial development bank FMO, it was able to raise $75 million.
This week, the Fintech industry became the favorite among investors as three deals totaling $77.4 million were closed by firms in the field.
Enterprise IT startups raised $25.8 million across three deals, real estate tech startups raised $20.2 million across one deal, health tech startups raised $10.5 million, and e-commerce startups raised $48.3 million across five deals.
However, the study states that seed funding decreased this week by 69% to $6.9 million from $22.7 million previous week.
Launched in 2015, Rocketlane is a software-as-a-service (SaaS) firm. 8VC, Matrix Partners India, and Nexus Venture Partners led the $24 million Series B fundraising round.
Smartworks, a provider of co-working space solutions, has raised $20.24 million (about Rs 168 crore) from a consortium of investors that includes family trusts, HNIs, Keppel, and Ananta Capital Ventures Fund I.
India currently stands sixth out of the world’s top nine deep-tech ecosystems, according to a Nasscom research. Of these businesses, 3,600 got $850 million in funding in the previous year.
