ETtech Deals Digest: Startups raise $142.7 million this week, up 8.5% on-year
Startups in India raised $142.7 million in funding across 14 rounds between May 31 and June 6, up 8.5% over the same week last year.In the same period last year, startups had raised $131.5 million across 64 rounds. Funding fell marginally over the last week, where $147.7 million was raised in 16 rounds.Deal activity was high among late and early-stage startups, lagging in the seed stage.The Singapore-based wealth management platform raised $53 million in a fresh funding round, led by two UK-based family offices. In August 2024, the company had raised $27 million as part of the same round, and this extension takes the total funds raised in the round to $80 million.Business-to-business (B2B) ecommerce platform Udaan closed a $114 million funding round led by existing investors M&G Prudential (UK) and Lightspeed Venture Partners. The round, executed at a flat valuation of $1.8 billion, includes the previously disclosed $75 million infusion from the two investors, which founder and CEO Vaibhav Gupta had announced during a townhall earlier this year.The wealthtech startup, which provides digital fixed-return investment products, raised $20 million (Rs 173 crore) in a funding round led by Infosys cofounder Nandan Nilekani's Fundamentum Partnership.Pune-based digital lending platform Loantap announced raising $6.2 million in fresh equity funding led by July Ventures. Existing investors 3one4 Capital, Avaana Capital, Kae Capital and the Swapurna Family Office also participated in the round.Education financing startup GyanDhan has raised Rs 50 crore in a funding round from edtech firm Classplus and venture capital firm Pravega Ventures. The funds will be used for scaling operations, strengthening its consultant partnership network, expanding the team, and investing in technology.Omnichannel furniture and home goods company Pepperfry raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others.StrideGreen, a climate-tech-focussed asset financing and management platform, raised $3.5 million in a funding round led by the clean mobility-focused Micelio Technology Fund.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
FII flows turn negative in July amid caution over trade talks, earnings outlook
Foreign institutional investors (FIIs), who had been net buyers in May and June, have turned sellers in the first week of July, reflecting a cautious sentiment amid global uncertainty and stretched valuations in the Indian market. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Markets pause after strong run Foreign institutional investors (FIIs), who had been net buyers in May and June, have turned sellers in the first week of July, reflecting a cautious sentiment amid global uncertainty and stretched valuations in the Indian to Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services , the strong FII buying trend that picked up in May has weakened. "FIIs were buyers to the tune of Rs 18,082 crore and Rs 8,466 crore in May and June, respectively. But early July FII activity indicates selling. In the first four days of July, FIIs were sellers every day, with a cumulative sell figure of Rs 5,772 crore," he the latter half of June, FIIs had shown buying interest in financials, autos, auto components, and oil & gas, while booking profits in capital goods and power. "There is a trend of profit booking in segments that have done well recently," Vijayakumar added that the return of FII inflows would depend on two key factors: progress in India–U.S. trade talks and earnings growth in the upcoming Q1FY26 results. 'If a trade deal happens between India and the U.S., that will be positive for markets and FII flows. Similarly, any signs of an earnings recovery in Q1 could provide further support,' he said. However, any setback on either front may weigh on sentiment and dampen FII Read: TCS, HCLTech among 10 stocks that have paid dividends over 40 times since 2011 After rallying over 15% between March and June, Indian equities have taken a breather in July. In the first four trading sessions of the month, the Sensex and Nifty declined marginally by around 0.2%, as stretched valuations and global cues prompted investors to adopt a wait-and-watch focus remains on the outcome of trade discussions, with U.S. President Donald Trump's July 9 deadline for reciprocal tariffs approaching fast. Investors are also awaiting cues from the earnings season, which begins next Friday, benchmark indices edged higher, aided by a rebound in IT and financial stocks. The Nifty 50 rose 0.22% to close at 25,461, while the BSE Sensex added 0.23% to end at 83,432.89. Despite the day's gains, both indices posted weekly sectors, seven of the 13 major indices ended lower for the week. Financials fell 1.75%, pulling back from record highs. However, small-cap and mid-cap indices posted weekly gains of 0.3% and 0.5%, respectively, supported by steady domestic inflows, a stable monsoon outlook, and expectations of stronger Q1 earnings on a low said valuation concerns and broad-based profit-taking kept investors on the sidelines through much of the week. With global developments and corporate earnings set to unfold in the coming days, the near-term trajectory for FII flows and market direction will likely hinge on incoming Read: 10 Nifty smallcap stocks analysts expect to rally up to 72% (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
New Indian Express
an hour ago
- New Indian Express
NTR district sets Rs 18.23 lakh crore GDP target under Swarnandhra Vision
VIJAYAWADA: NTR District In-charge Minister Y Satya Kumar Yadav announced that draft plans for the development of Vijayawada and other constituencies were prepared based on available resources, with a target of Rs 18.23 lakh crore Gross Domestic Product (GDP). At a review meeting held in Vijayawada on Saturday, the Minister, along with MP Kesineni Sivanath, MLAs Gadde Rammohan, Bonda Umamaheswara Rao, Sriram Rajgopal, Kolikapudi Srinivasa Rao, and Collector G Lakshmisha, discussed progress under the Swarnandhra P4 ('Public, Private, People Partnership) Foundation. They reviewed key sectors including agriculture, industry, services, tourism, food processing, zero-budget natural farming, Farmer Producer Organisations (FPOs), and mechanisation. During the meeting the NTR District In-charge Minister stated, 'P4 is a key chapter in good governance,' and added that implementation will align with Swarnandhra goals through regular reviews. Saty Kumar Yadav said the district's per capita income in 2023–24 stood at Rs 3,21,651, with targets of Rs 6,38,946 by 2028–29 and Rs 1,10,0000 by 2047–48. Swachh Andhra Corporation Chairman K Pattabhiram, Krishna District Cooperative Central (KDCC) Chairman Nettem Raghuram, Joint Collector S Ilakkiya, and Vijayawada Municipal Corporation (VMC) Commissioner Dhanachandra HM also took part in the review meeting.
Mint
an hour ago
- Mint
Pharma firms likely to post 11% growth in sales, EBITDA in Q1FY26: Report
New Delhi [India], July 6 (ANI): Pharmaceutical firms are expected to post 11 per cent year-on-year growth in both sales and EBITDA for the first quarter of Financial Year 2026 (Q1FY26), driven by sustained momentum across most markets, according to a report by Kotak Institutional Equities. However, the report added that the muted domestic demand in April and March may slightly offset gains. The hospitals segment is projected to see robust 17 per cent year-on-year growth in both sales and EBITDA, supported by increased footfalls, new bed additions, and a modest rise in ARPOB. In diagnostics, volume growth, better mix, and M&A activity are expected to contribute to a 14 per cent YoY sales increase across the coverage. "For pharma companies, we expect continued traction across most markets to drive 11%/11% yoy growth in overall sales/EBITDA in 1QFY26," the report added. India's pharmaceutical market for FY 2023-24 is valued at USD 50 billion with domestic consumption valued at USD 23.5 billion and export valued at USD 26.5 billion. The domestic pharma industry is considered to be the world's third largest by volume and 14th in terms of value of production. With an extremely diversified product base covering generic drugs, bulk drugs, over-the-counter drugs, vaccines, biosimilars, and biologics, the Indian pharmaceutical industry has a strong presence at the global level. According to National Accounts Statistics 2024, published by the Ministry of Statistics and Programme Implementation, total output for industry i.e. Pharmaceuticals, medicinal and botanical products is Rs. 4,56,246 crores for FY 2022-23 at constant prices, of which value added is ₹ 1,75,583 crores. As per government data 9,25,811 number of persons are engaged in Pharmaceuticals, medicinal and botanical products industry during FY 2022-23. Research & Development (R&D) and innovation in Pharma Sector is done by number of institutions and organizations under various scientific Ministries/Departments. The Department of Pharmaceuticals has set up seven National Institutes of Pharmaceutical Education & Research (NIPERs) as institutes of national importance, which besides imparting postgraduate and doctorate education, conduct high end research in various pharma specializations. Further, Department has framed a "National Policy on Research & Development and Innovation in Pharma-MedTech Sector in India" to encourage R&D in pharmaceuticals and medical devices.
