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startup funding: ETtech Offers Digest: Amid ‘Tech Winter’, dry funding faucets, startups set to face turmoil

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startup funding: ETtech Offers Digest: Amid ‘Tech Winter’, dry funding faucets, startups set to face turmoil

2022-11-25 12:34:20

Amid the continued tech winter, funding faucets for Indian startups are working dry. Whereas international macroeconomic headwinds and rising rates of interest are making buyers cautious about taking dangers with new companies, geopolitical volatility and rising power costs have made issues worse.
Final week, talking on the Financial Instances Startup Awards 2022, Flipkart Group CEO Kalyan Krishnamurthy stated Indian startups will undergo quite a lot of turmoil and volatility over the subsequent 12-18 months, because the funding crunch will begin to have an effect on new-age tech firms solely by the early a part of subsequent 12 months.

“It will be powerful subsequent 12 months. I believe lots of people will hit the market (for fundraising) between April and June subsequent 12 months. That’s in all probability the second of fact for all of us within the ecosystem,” Krishnamurthy added.

With funding persevering with to be scarce, Indian startups are debt and convertible notes as options to lift cash. B2B startup Udaan introduced elevating $35 million by means of debt and convertible notes this week and led the funding charts.
Here’s a take a look at all of the startups that raised cash in funding this week:
Udaan raises one other $35 million from EvolutionX through convertible notes and debt: Enterprise-to-business ecommerce startup
Udaan has raised one other 35 million in debt and convertible notes from debt financing platform EvolutionX, an individual conscious of the matter instructed ET. EvolutionX, began by DBS and Temasek, didn’t disclose the quantity it has invested in Udaan, in its press assertion. The most recent funding comes shut on the heels of Udaan elevating $120 million by means of convertible notes and debt from present shareholders and bondholders in October.

Uncover the tales of your curiosity



Redbrick AI raises $4.6 million funding from Sequoia India, Surge: Redbrick AI, a health-tech platform that harnesses synthetic intelligence,
stated it raised $4.6 million in a funding spherical led by Sequoia India and its Southeast Asia startup accelerator, Surge. The spherical additionally noticed participation from Y Combinator and angel buyers.
Recent From Farm raises over Rs 3.2 crore in funding: Meals-agri startup
Recent From Farm has raised over Rs 3 crore in seed funding led by Inflection Level Ventures. Recent From Farm is a demand-and data-based aggregation ecosystem that recognises retailer demand tendencies and buys the exact quantity from farmers.

Soptle raises angel funding from Kube VC, Soonicorn amongst others: Soptle, a B2B commerce firm,
has raised $300k in an angel spherical led by international early-stage enterprise agency Kube VC and Soonicorn LLP. A clutch of business veterans equivalent to Vaishnav Shetty, govt director of All-Cargo Group, Pirojshaw Sarkari, CEO of Gati, Ankur Agarwal, co-founder of Dunzo, Saurabh Aggarwal, co-founder of Fitso, Himanshu Periwal, co-founder of Unlu, and others additionally participated within the spherical.

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