ETtech Deals Digest: Startups raise $124 million this week, down 59% on-year

Startups raised around $123.9 million during the week of July 12 to 18, marking a 59% decline from the $307.7 million raised during the same period last year, according to data from Tracxn.

However, the funding amount saw a rebound from the previous week, nearly doubling from $62.1 million.

Deal activity, too, declined this week on a year-on-year (YoY) basis, with 26 transactions recorded during the period, compared to the 37 deals seen in the corresponding week last year.

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Top deals of the week

PayU: Digital payments firm PayU received a capital infusion of $35.1 million from its parent, Prosus, the Dutch-listed arm of South African technology investor Naspers.

QpiAI: Quantum computing startup QpiAI raised $32 million in a funding round led by Avataar Venture Partners and India’s National Quantum Mission.

Truemeds: Healthtech startup Truemeds raised $20 million as part of a funding round from Peak XV Partners. The company has raised a total of $113 million to date, according to Tracxn.

ETtech