ETtech Deals Digest | Uptick in early-stage investing

According to
a report by Venture Intelligence, $1.27 billion in funding was poured into the Indian startup ecosystem in November, the most ina single month since July. The report said this uptick was driven by early- and growth-stage investments.

Another report by data platform Tracxn said
Indian startups saw a 35% YoY dip in funding in 2022, with retail and fintech startups hit hardest, seeing funding fall by 57% and 41%, respectively.

This week, fast-fashion startup Virgio, founded by former Myntra CEO Amar Nagaram, raised $37 million in funding from Prosus Ventures, Accel Partners and Alpha Wave.
Here is a list of startups that received funding this week:

Former Myntra CEO’s startup Virgio raises $37 million: Fast-fashion startup Virgio, founded by former Myntra CEO Amar Nagaram,
said it has raised $37 million in a funding round co-led by Prosus Ventures, Alpha Wave Partner and Accel Partners. This is a significant infusion of capital by institutional investors in an early-stage round, given the ongoing funding winter.

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Bumble Bee Flights raises $37 million: Air mobility solutions startup Bumble Bee Flights said on Tuesday it has
raised $37 million (Rs 300 crore) from UK-based SRAM & MRAM Technologies and Resources to set up a self-driven air taxi assembly plant in Odisha.

NeoGrowth raises Rs 300 crore from Dutch lender FMO: Small businesses-focused fintech player NeoGrowth
has raised Rs 300 crore from Dutch entrepreneurial development bank FMO along with existing investors. Of the fresh equity capital, Rs 160 crore is from the Dutch lender, NeoGrowth said in a statement on Thursday.

Automotive aftermarket myTVS raises Rs 203 crore: Automotive aftermarket firm myTVS said it
has raised Rs 203 crore from Lingotto, a subsidiary of Exor NV in a funding round. Earlier, Exor had invested about Rs 350 crore in myTVS in 2021. With the fresh investment, Exor’s stake in myTVS has has increased to 11.5%, the company said.

Fintech Zype raises Rs 146 crore: Fintech startup Zype on Wednesday said it has
raised Rs 146 crore in a funding round led by city-based private equity fund Xponentia Capital. Zype, which is focused on increasing credit accessibility for millennials and helping them develop sustainable financial habits, said it will use the funds to strengthen its technology platform, expand its team, and acquire customers.