ETtech Deals Digest: Startups raise $505 million this week, up 83% on-year

Startups raised around $504.6 million between October 18 and 24, an 83.3% increase from the $275.3 million raised during the same period last year, driven by enterprise artificial intelligence (AI) firm Uniphore’s $260 million funding round.

The tally was, however, 25.4% lower than the $676.1 million raised the previous week.

The number of deals dropped sharply on a year-on-year (YoY) basis, with eight transactions recorded this week compared with 20 a year earlier.

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Top deals of the week

Uniphore: Enterprise AI company Uniphore closed a $260 million funding round from a mix of investors, including US chip majors Nvidia and AMD, cloud data storage company Snowflake, and data analytics firm Databricks. The funding round valued the Palo Alto-based company at around $2.5 billion.

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General Intuition: General Intuition, an AI startup building foundational models and general agents, raised $133.7 million in funding from Khosla Ventures, General Catalyst, and Raine.

UnifyApps: Enterprise software firm UnifyApps raised $50 million in a funding round led by WestBridge Capital, with participation from Iconiq and other investors, at a post-money valuation of around $200 million.

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