ETtech Deals Digest: Startups raise $122 million this week, down 5% on-year

Startups raised around $122 million in the week ending May 22, down 5% from the $129 million secured during the same period last year, according to data intelligence platform Tracxn.

This week’s tally, however, was down 84% from the previous week when startups raised around $789.8 million, thanks to Rapido’s mega $730 million round.

ETtech

Despite total funding falling slightly, average cheque sizes increased this year, with $122 million invested across 13 deals versus $128.7 million across 30 deals last year.

This week, late-stage deals dominated the funding landscape, accounting for $101 million, or 82.6% of the total $122.2 million raised, led by major rounds including credit card and travel-booking platform startup Scapia, which raised a Series C round during the week.

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Seed-stage startups raised $14.6 million, while early-stage companies secured $6.6 million. No private equity or other equity funding activity was recorded during the week.