ETtech Deals Digest: Startups raise $568 million this week, up six-fold on-year

Startups raised around $568.2 million between May 3 and 9, reflecting a nearly six-fold increase from the $95.5 million raised during the same period last year.

This also marks a threefold rise from last week’s total of $194.7 million.

Despite the surge in funding value, the number of deals fell to 23 this week, compared to 51 in the year-ago period, according to data from Tracxn. The deals spanned seed, early, and late-stage rounds.


Top deals of the week

PB Healthcare Services: PB Fintech’s affiliate, PB Healthcare Services, raised $218 million in its first major equity infusion. The round was led by US-based venture capital (VC) firm General Catalyst, with participation from PB Fintech and another institutional investor.

Porter: On-demand logistics platform Porter raised $200 million in a funding round led by private equity (PE) firms Kedaara Capital and Wellington Management. The round, comprising both primary and secondary transactions, propelled Porter into the unicorn club with a valuation of between $1.1 billion and $1.2 billion.

Routematic: Corporate transport solutions platform Routematic raised $40 million in a Series C funding round led by Fullerton Carbon Action Fund and Shift4Good.

Celcius Logistics: Cold chain aggregator Celcius Logistics raised $29.7 million in a funding round co-led by global investment firm Eurazeo and impact venture capital firm Omnivore.

Lahori: Beverage maker Lahori, known for its carbonated non-alcoholic drinks in local flavours, secured $23.6 million in primary funding from Motilal Oswal Wealth.