The second week of May started on a sour note, with a decline in venture capital funding. There was an absence of large deals, signifying the turbulence in the Indian startup ecosystem. This week, there was a $100 million drop in venture funding, compared to the previous week, this week the total was $85 million. VC firms have a strict hold on their purses, and macroeconomic uncertainty shows an uneven pattern in venture funding over the past few weeks.
Growth/Late-stage Funding
Several companies like Ola, Pharmeasy, Oyo, Swiggy, Pine Labs, and Byju’s have gotten valuation haircuts and are dealing with making corrections in their companies. There were three main transactions this week, including Ripplr raising $40 million. You can observe the table below for a more thorough understanding.
|
S. No. |
Startup Name |
Segment |
Million Dollars Raised in USD |
|
1. |
Ripplr |
Distribuition and Logisitcs |
40 |
|
2. |
Zygno Mobility |
Logistics |
5 |
|
3. |
Castler |
Escrow |
5 |
There is turbulence in the Indian startup ecosystem, with venture capital funding fluctuations. Companies like Cuemath and Toothsi have been laying off employees this week.
