ETtech Deals Digest: Startup funding in April rises 21% on year to $564 million
Synopsis
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.
By ETtech
Last Updated:
New-age startups logged a total funding value of about $563.5 million in April 2024, up 21% from the same month a year ago.
Mumbai-based Venture Catalysts emerged as the topmost investor in terms of deal volume last month. It deployed capital in startups such as Plotch, MatchLog, CloudWorx and BluWheelz.
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.
In the last week -- April 27 to May 3 -- deal value went up to $279 million, from $130 million in the same period last year, and $74.2 million in the previous week. Deal volume during the week was down to 14 from 42 a year ago.
Top deals of the month:
API Holdings: The parent company of PharmEasy, the online pharmacy startup, secured $216 million in a funding round led by Ranjan Pai's Manipal Education and Medical Group (MEMG) along with other existing investors.
SingleInterface: The marketing software startup raised $30 million in its first external funding from investors led by Asia Partners.
ProcMart: The online business-to-business (B2B) marketplace specialising in supply chain solutions raised $30 million in a round led by Infosys cofounder Nandan Nilekani's venture fund Fundamentum Partnership and Edelweiss Discovery Fund.
Ecozen Solutions: The Pune-based agritech firm raised $30 million in a mix of equity and debt from existing investors including US-based global investment manager Nuveen.
Lyskraft: Founded by former Zomato senior executive Mohit Gupta and Myntra founder Mukesh Bansal, this omnichannel fashion startup raised $26 million in seed money, making it one of the largest early-stage rounds for an Indian startup amid the ongoing funding crunch.
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Startups across stages, mostly late, raised the funding across 78 rounds, as per Tracxn data. In April 2023, they had raised a total of $464 million across 113 rounds. The funding winter was in full force in March 2023, having set in from September 2022. Elevate Your Tech Prowess with High-Value Skill Courses
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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.
In the last week -- April 27 to May 3 -- deal value went up to $279 million, from $130 million in the same period last year, and $74.2 million in the previous week. Deal volume during the week was down to 14 from 42 a year ago.
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Top deals of the month:
API Holdings: The parent company of PharmEasy, the online pharmacy startup, secured $216 million in a funding round led by Ranjan Pai's Manipal Education and Medical Group (MEMG) along with other existing investors.
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SingleInterface: The marketing software startup raised $30 million in its first external funding from investors led by Asia Partners.
ADVERTISEMENT
ProcMart: The online business-to-business (B2B) marketplace specialising in supply chain solutions raised $30 million in a round led by Infosys cofounder Nandan Nilekani's venture fund Fundamentum Partnership and Edelweiss Discovery Fund.
Ecozen Solutions: The Pune-based agritech firm raised $30 million in a mix of equity and debt from existing investors including US-based global investment manager Nuveen.
Lyskraft: Founded by former Zomato senior executive Mohit Gupta and Myntra founder Mukesh Bansal, this omnichannel fashion startup raised $26 million in seed money, making it one of the largest early-stage rounds for an Indian startup amid the ongoing funding crunch.
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