ETtech Deals Digest: Startup funding in May rises 62% on year to $817 million
ET Spotlight
Synopsis
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.
By ETtech
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.
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.
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.
Top deals of the month:
Flipkart: Walmart-ownedFlipkart raised $350 million from Alphabet’s Google.
Infra.Market: Infra.Market raised $50 million at a valuation of $2.5 billion from Mars Unicorn Fund, a joint venture of Liquidity Group and Mitsubishi UFJ Financial Group.
Atlum Credo: The digital payments firm raised $40 million in its Series C round led by Z3Partners and Oikocredit.
Technosport: Bengaluru-headquartered Techno Sportswear raised $25 million from investment fund A91 Partners.
Euler Motors: Electric vehicle startup Euler Motors closed its Series C funding round, raising about $24 million.
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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
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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.
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.
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Top deals of the month:
Flipkart: Walmart-ownedFlipkart raised $350 million from Alphabet’s Google.
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Infra.Market: Infra.Market raised $50 million at a valuation of $2.5 billion from Mars Unicorn Fund, a joint venture of Liquidity Group and Mitsubishi UFJ Financial Group.
Atlum Credo: The digital payments firm raised $40 million in its Series C round led by Z3Partners and Oikocredit.
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Technosport: Bengaluru-headquartered Techno Sportswear raised $25 million from investment fund A91 Partners.
Euler Motors: Electric vehicle startup Euler Motors closed its Series C funding round, raising about $24 million.
