Weekly Funding Wrap: Wealthtech Firms Lead as Capital Inflow Decline
Check out the top funding deals, M&As, and lots more from the week.
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Between July 17 and July 23, the total capital infusion in the Indian startup ecosystem saw a sharp decline after two weeks of high, according to the latest Tracxn data.
The funding was down by nearly 68 percent compared to the previous week, 53 percent down from the week before.
Last week’s MVP was Veriqus which raised USD 40.1 million in Norwest Venture Partners-led funding round. The Mumbai-based wealthtech firm aims to deploy fresh capital towards expanding the network of its wealth creators, improve AI features, and expand presence in the country.
Veriqus is followed by another wealthtech firm, Neo Group. It raised USD 36.3 million in a funding round led by existing investor Peak XV Partners. The TVS Capital-backed company aims to deploy capital into developing technology, expanding the team, and work on new offerings.
Key highlights:
Stage-wise funding
Late-stage companies led the share with USD 76.4 million raised during the said week. Early-stage and seed-stage categories saw USD 25.4 million and USD 4.4 capital inflow, respectively.
Most Active VCs
As expected, Norwest and Peak XV Partners were the most active investors this week following their investments.
IPO, M&As
Kolkata-based Sotefin, a platform offering automated parking systems tailored for urban spaces, went public in the said week. There were no acquisitions.
Here are the top funded companies of the week:
*Equity rounds and tech companies have been considered for the roundup.
*Data source: Tracxn
Between July 17 and July 23, the total capital infusion in the Indian startup ecosystem saw a sharp decline after two weeks of high, according to the latest Tracxn data.
The funding was down by nearly 68 percent compared to the previous week, 53 percent down from the week before.
Last week’s MVP was Veriqus which raised USD 40.1 million in Norwest Venture Partners-led funding round. The Mumbai-based wealthtech firm aims to deploy fresh capital towards expanding the network of its wealth creators, improve AI features, and expand presence in the country.
Veriqus is followed by another wealthtech firm, Neo Group. It raised USD 36.3 million in a funding round led by existing investor Peak XV Partners. The TVS Capital-backed company aims to deploy capital into developing technology, expanding the team, and work on new offerings.
Key highlights:
Stage-wise funding
Late-stage companies led the share with USD 76.4 million raised during the said week. Early-stage and seed-stage categories saw USD 25.4 million and USD 4.4 capital inflow, respectively.
Most Active VCs
As expected, Norwest and Peak XV Partners were the most active investors this week following their investments.
IPO, M&As
Kolkata-based Sotefin, a platform offering automated parking systems tailored for urban spaces, went public in the said week. There were no acquisitions.
Here are the top funded companies of the week:
*Equity rounds and tech companies have been considered for the roundup.
*Data source: Tracxn
