ETtech Deals Digest: Zepto cheers with $200 million deal; pulls in over 81% of week’s funding

Express e-grocer Zepto, with its $200 million funding deal on Friday, lent some much-needed cheer to the startup ecosystem, making up for a little bit over 81% of the whole funding that startups raised over the week of August 19 to 25.

The remainder of the startups — 17 of them — raised solely $46 million. They had been pretty distributed amongst sectors of ecommerce, software-as-a-service and healthtech, amongst others. However, fintech led the pack with 5 offers.

Startups raised about $246 million throughout 18 funding offers in the course of the week. In worth phrases, it was 51% down from the identical interval a yr in the past. By quantity, it was 68% decrease.

Early-stage offers continued to maintain up the momentum, recording the best variety of offers. Twelve of the funding offers had been seed-stage, 4 in Series A stage, one in Series B and one in Series E.

Straying from the same old startup illustration from cities similar to Delhi, Bengaluru and Mumbai, corporations headquartered throughout cities similar to Coimbatore, Jaipur and Mysuru additionally raised funding.

The prime 5 offers this week:

Zepto raised $200 million: The Mumbai-based fast commerce startup raised contemporary capital at a valuation of $1.4 billion, making it the primary unicorn to be minted in India in virtually a yr.

Zaggle raised about $11 million: The fintech startup raised Rs 25 crore from ValueQuest Scale Fund in a pre-IPO (preliminary public providing) spherical. It raised Rs 73 crore from a clutch of traders by a non-public placement in a separate tranche.

GradRight raised about $6 million: The education-focused fintech startup raised Rs 50 crore in a Series A funding spherical from IvyCap Ventures.

Maxbyte raised $5 million: e& capital led the funding within the built-in digital and robotics options startup area to strengthen its market growth and product improvement.

Superbottoms raised $5 million: The child care model raised $5 million in a funding spherical led by Lok Capital and Sharrp Ventures.

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