ETtech Deals Digest: Startups raise $177.6 million this week; up 2.7 times on-year
Startups raised around $177.6 million between May 17 and May 23, marking a 2.7 time increase compared to the same period last year.This also represents a 12.7% increase from last week's total of $157.7 million.This week, startups across seed, early, and late stages raised funds through 15 deals, compared to 34 in the year-ago period, when they raised a total of $65.8 million, according to data from Tracxn.Electric commercial vehicle maker Euler Motors raised around $75 million in a funding round led by Hero MotoCorp . Existing investor British International Investment (BII), the UK government's development finance arm, also participated in the round.Tech-first hybrid healthcare platform, CureBay raised $21 million in a funding round led by Bertelsmann India Investments. The round also saw BII and existing investor Elevar Equity participate.Predictive cybersecurity Cloudsek raised $19 million in a fresh funding round led by Tenacity Ventures and Commvault. Others participating in the round include Inflexor Ventures, MassMutual Ventures and Prana Ventures, along with some strategic investors.Media technology company Mythik, founded by former Housing.com and Freecharge CEO Jason Kothari, raised $15 million in a funding round from Sakal Media Group, Venture Catalysts-backed VC Grid, actor Shah Rukh Khan's family office, and Visceral Capital, among others.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
5 hours ago
- News18
US Declares Pakistan's TRF a Terror Group Major Win for India at FATF? The Brass Tacks
The U.S. has designated Pakistan's TRF as a foreign terrorist organization, marking a significant step in counter-terrorism efforts. This move strengthens India's case for grey-listing Pakistan at the FATF, amid ongoing tensions and diplomatic challenges. In a major diplomatic and counter-terrorism development, the United States has officially designated The Resistance Front (TRF)—a Pakistan-backed outfit operating in Kashmir—as a foreign terrorist organization. This move marks a strong endorsement of India's long-standing claims about Pakistan's role in harboring and financing cross-border designation not only freezes TRF assets and imposes travel bans but also strengthens India's case to push for Pakistan's grey-listing at the Financial Action Task Force (FATF). The development comes amid ongoing Indo-Pak tensions, international scrutiny over terror financing, and India's growing strategic influence. News18 Mobile App -
New Indian Express
6 hours ago
- New Indian Express
Biting the dust: Only 1 out of 50 start-ups secures Series A funding within 18 months
BENGALURU: In just one week, two start-ups -- quick fashion delivery platform Blip and AI start-up CodeParrot -- have shut down citing various reasons including funding crunch. Though it is not easy to raise funds, especially after securing seed money, what bothers the start-up ecosystem is excessive cash burn and the pressure to grow fast. TNIE spoke to many venture capitalists and investors who said lack of clear planning and in some cases even poor legal and structural hygiene are some of the reasons for start-ups shutting operations. According to data sourced from market intelligence firm Tracxn, 65,906 companies were shut down in India from January 2023 till date while a total of 7,484 start-ups were shut down from July 1, 2024 to July 18, 2025 alone. Start-ups such as Koo and Zerodha's Nithin Kamath-backed Stoa School have shut down in recent times. "Start-up shutdowns are not unusual; they are part of how a young ecosystem matures. What we're seeing now is a period of correction, brought on by a mix of internal and external challenges," said Roma Priya, founder of Burgeon Law. One major reason is the lack of product–market fit. Many start-ups go to market without fully testing whether their product solves a real and scalable problem. Founders also often face co-founder conflicts or team misalignment early on, which can slow momentum. Another common issue is limited access to funding, especially now that investors are being more selective. In addition to these, several start-ups face difficulties due to poor legal and structural hygiene, for example, unclear company structures, weak documentation, or non-compliance with regulatory norms, Priya added. Vedant Agarwala, co-founder of CodeParrot, said in a LinkedIn post that they hired and painfully had to let go of both the engineers. "We burned through the $500k we'd raised — and when we hit $1,500 MRR (monthly recurring revenue) with our final pivot (Figma-to-code using LLMs), we couldn't break through. Instead of running more experiments with a dwindling runway, we decided it was time to shut shop," he said. The co-founder also said that start-ups are brutally hard — and pivot hell is the worst part by far.
The Hindu
13 hours ago
- The Hindu
U.S. authors suing Anthropic can band together in copyright class action, judge rules
A California federal judge ruled on Thursday that three authors suing artificial intelligence startup Anthropic for copyright infringement can represent writers nationwide whose books Anthropic allegedly pirated to train its AI system. U.S. District Judge William Alsup said the authors can bring a class action on behalf of all U.S. writers whose works Anthropic allegedly downloaded from "pirate libraries" LibGen and PiLiMi to create a repository of millions of books in 2021 and 2022. Alsup said Anthropic may have illegally downloaded as many as 7 million books from the pirate websites, which could make it liable for billions of dollars in damages if the authors' case is successful. An Anthropic spokesperson said the company was considering options to challenge the ruling and that the court failed to account for the difficulty of establishing copyright ownership "millions of times over in a single lawsuit." An attorney for the authors declined to comment on the decision. Andrea Bartz, Charles Graeber and Kirk Wallace Johnson sued Anthropic last year, arguing that the Amazon- and Alphabet-backed startup used their books without permission or compensation to teach its chatbot Claude to respond to human prompts. The case is one of several high-stakes lawsuits brought by authors, news outlets and other copyright owners against companies including OpenAI, Microsoft and Meta Platforms over their AI training. AI companies argue their systems make fair use of copyrighted material to create new, transformative content. Alsup determined in June that Anthropic's AI training made fair use of authors' works, but said the company still violated their rights by saving pirated copies of their books to a "central library of all the books in the world" that would not necessarily be used for AI training. Alsup said on Thursday the three authors could represent all writers whose books Anthropic allegedly downloaded from LibGen and PiLiMi, rejecting Anthropic's argument that identifying all of the copyright-eligible works and their authors would be impractical.
