The dip in the Indian venture capital funding sector seems to be prevalent this week as well. However, a boost has been seen in this sector via a PhonePe deal, with funding raised to $231 million across 14 deals compared to last week’s $128 million. Though, it is unlikely to see a major inflow of funding due to poor macroeconomic conditions.
Growth/Late-Stage Funding
A major deal allowed PhonePe to gain $100 million in funding, and other startups such as Chalo and Hopscotch gained funding as well. The government made changes to the regulations for angel tax, allowing more flexibility in the funding system. This table has more information about venture capital funding deals.
|
S. No. |
Name of Startup |
Segment |
Million Dollars Raised in USD |
|
1. |
PhonePe |
Digital Payments |
100 |
|
2. |
Chalo |
Bus Tracking and Ticketing |
45 |
|
3. |
Hopscotch |
D2C |
20 |
|
4. |
Infinite Uptime |
Internet of Things |
18.85 |
|
5. |
Walko Food |
Food Tech |
11 |
|
6. |
XFlow |
Financial Services and Infrastructure |
10.2 |
Early-stage Funding
Out of the 14 deals, most of the contribution to the increase in venture capital funding came from startups. This included XFlow, which is a Fintech company, Gan.ai, Ulipsu, and Thena.
City/Segment-wise Deals
Just like last week, Bengaluru saw the most deals, gaining, 10 deals while Mumbai and Pune saw two deals each.
Things are looking up slightly, but a greater change is not foreseeable in the near future in the venture capital funding sector. Apart from this, 30% of Airmeet’s workforce was fired this week.
