WINTER CAPITAL
![Inside the rise and fall of Indian Twitter rival Koo](https://img.etimg.com/thumb/msid-111532631,width-100,height-75,resizemode-4/tech/startups/inside-the-rise-and-fall-of-indian-twitter-rival-koo.jpg)
Inside the rise and fall of Indian Twitter rival Koo
Koo, the Indian social media platform aiming to rival Twitter, has closed down due to unsuccessful acquisition negotiations. The company struggled with funding challenges and workforce reductions amidst a competitive landscape.
![Purplle closes Rs 1,000 crore funding deal led by Abu Dhabi Investment Authority](https://img.etimg.com/thumb/msid-111401759,width-100,height-75,resizemode-4/tech/funding/purplle-group-raises-rs-1000-crore-from-abu-dhabi-investment-authority-arm-others.jpg)
Purplle closes Rs 1,000 crore funding deal led by Abu Dhabi Investment Authority
Purplle has also announced a Employee Stock Ownership Plan (Esop) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Company cofounder and CEO said they will constantly innovate their technology to provide the best for their customer. Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times over the last three years.
![Indian tech startup funding logs slight uptick at $4.1 billion in H1](https://img.etimg.com/thumb/msid-111140552,width-100,height-75,resizemode-4/tech/funding/indias-tech-startup-funding-at-4-1-billion-in-h1-2024-tops-h2-2023-trails-year-ago-levels-tracxn.jpg)
Indian tech startup funding logs slight uptick at $4.1 billion in H1
Indian tech startups raised USD 4.1 billion in H1 2024, 4% higher than H2 2023, remaining fourth-highest funded country globally. Insights from Tracxn report highlighted funding trends and volumes in the Indian tech startup landscape.
![Surprise poll results impact startups' plans, and other top stories this week](https://img.etimg.com/thumb/msid-110805815,width-100,height-75,resizemode-4/tech/newsletters/ettech-unwrapped/surprise-poll-results-impact-startups-plans-and-other-top-stories-this-week.jpg)
Surprise poll results impact startups' plans, and other top stories this week
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
![ETtech Deals Digest: Startup funding rises 23% on year to $326 million this week](https://img.etimg.com/thumb/msid-110799764,width-100,height-75,resizemode-4/tech/funding/startup-funding-rises-23-on-year-to-326-million-this-week.jpg)
ETtech Deals Digest: Startup funding rises 23% on year to $326 million this week
Tracxn data shows, that startups, mostly late-stage, raised funds from 16 rounds. In the same period, a year ago – June 1 to 7, 2023 – they had raised a total of $266 million. The funding winter was in full force by then, having set in from September 2022.
![Temasek, Fidelity pick up $200 million stake in Lenskart secondary deal at $5 billion valuation](https://img.etimg.com/thumb/msid-110659516,width-100,height-75,resizemode-4/tech/funding/temasek-fidelity-pump-200-million-to-buy-lenskart-stake-in-secondary-deal.jpg)
Temasek, Fidelity pick up $200 million stake in Lenskart secondary deal at $5 billion valuation
Singapore's Temasek and US financial service major Fidelity invest $200 million in Lenskart through a secondary share sale, valuing the company at $5 billion.
ETtech Deals Digest: Startup funding in May rises 62% on year to $817 million
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.
GetVantange invested in over 750 companies, mostly consumer facing firms in FY24
GetVantage, founded in late 2019, has funded 1,500 companies with a combined GMV of $900 million across categories ranging from B2B SaaS, subscription businesses, D2C, eCommerce, edtech, healthtech, cloud kitchens, and nutrition, among others.
ETtech Deals Digest: Startup funding plummets 88% on year to $26 million this week
Goodwater Capital emerged as the topmost investor in terms of deal volume in the latest week.
ETtech Deals Digest: Startup funding falls 34% on year to $118 million this week
In terms of volume, total deals during the week stood at 18, compared to 32 a year ago, and 16 in the second week of May 2024. Sequentially, deal value went up about 3.3X from $35.2 million to $117.6 million.
Unicorn sightings become rare as VCs shun that leap of faith
Investors are going back to the same list of startups they have already backed to write bigger cheques leading to new unicorn sightings becoming rare. Only Perfios and Ola founder Bhavish Aggarwal’s Krutrim AI have become unicorns so far in 2024, and the number was the same for the whole of 2023.
ETtech Deals Digest: Startup funding in April rises 21% on year to $564 million
In terms of deal volume in the month, total deals stood at 78, compared to 95 in March 2024 and 113 in April 2023. Sequentially, deal value went down about 26% from $765 million to $563.5 million.
Temasek, Fidelity may invest $200 million in Lenskart at $5 billion valuation
This round would take homegrown eyewear company Lenskart's valuation to over three times that of Warby Parker, a New York-based online retailer for spectacles and contact lens. Warby Parker listed on the NYSE late in 2022 and has a market capitalisation of around $1.55 billion.
India’s startup landscape: Funding winter continues as investment plummets
A new report brings out the continuing downward trend in funding, as investors remain more cautious and selective, even as India remained the fourth largest venture market in the world in 2023.
Scaled startups could drive venture capital investment activity in 2024: report
During 2023, growth and late-stage startups chose to defer fundraising, and investors took their foot off the gas pedal owing to rising interest rates, leading to the number of mega rounds (those over $100 million) falling to only 15, compared to 48 in 2022.
Startup Mahakumbh to tell the world that spring is coming
Three-day congregation of new economy ecosystem to highlight the promise of Indian startup sector.
Startups write a $1.5-billion twist in winter’s tale
December brings the highest monthly fundraise of 2023, though the annual total is the lowest in 7 years.
ETtech Deals Digest: Startup funding rises to $511.47 million on Udaan boost
The latest week saw about 84% of the total capital being deployed in growth- and late-stage startups. Besides Udaan, it included the likes of agritech firm Vegrow, fintech firm Aye Finance and electric vehicle battery tech firm Exponent Energy.
ETtech Deals Digest: Weekly funding plummets over 80% to $30 million
The deals this week averaged at about $4.95 million per deal, versus $5.6 million per deal, same period in 2022.
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