New-age startups raised $817.2 million in May 2024, up 62% from last year, with top investor Venture Catalysts leading funding rounds for startups like Zypp Electric.
ET Spotlight
New-age startups logged a total funding value of about $817.2 million in May 2024, up 62% from the same month a year ago.
Startups across stages, mostly late, raised the funding from 93 rounds, as per Tracxn data. In May last year, they had raised a total of $504 million from 156 rounds. The funding winter, which set in from September 2022, was in full force by April 2023.
Elevate Your Tech Prowess with High-Value Skill Courses
Deal volume during the month stood at 93, compared to 78 in April and 43 in May 2023. Sequentially, deal value rose about 45% from $563.5 million to $817.2 million.
ETtech
In the last week of the month -- May 25 to May 31 -- deal value went up to $584.6 million, from $25.6 million in the same period last year, and $26 million in the previous week. Deal volume during the week was down to 43 from 24 a year ago.