Hike funding

Seed funding: ETtech Deals Digest: Rate hikes and dried up liquidity prevent investors from betting on new ventures

The funding taps have been dry for Indian startups for quite some time now. Investors around the world have been nervous about pouring money into new ventures. The Federal Reserve’s decision to raise interest rates by 75 basis points is also a sign of caution for investors. Major central banks, including the Bank of England, raised interest rates, causing liquidity to dry up in the market, making it difficult for investors to bet on new businesses.

The startup ecosystem in India is not only experiencing a search crisis but is also being forced to downsize and lay off people in a bid to survive.

With conventional sources of funding proving unsuccessful, startups have also used convertible bonds.

Icertis raises $150 million in convertible financing from Silicon Valley Bank: SaaS startup
raised $150 million through a revolving credit facility and convertible financing from US-based Silicon Valley Bank. The company said on Monday it would use the funds to further accelerate the adoption of technologies such as artificial intelligence (AI), machine learning and blockchain.

Premji Invests supports the D2C startup The Sleep Company: Direct-to-consumer sleep technology startup,
The Sleep Company, raised Rs 177 crore (about $21.3 million) in a new funding round led by Premji Invest with participation from existing investor Fireside Ventures. The capital raising round also includes a debt component of up to Rs 8.2 crore ($1 million) from Alteria Capital. Premji Invests now owns 15% to 20% of the company’s capital, according to sources.

Crypto Settlemint App Raises $16 Million: SettleMint, the blockchain application development platform for the private and public sector has
raised $16 million in Series A funding, in a round led by UK-based Molten Ventures. New investors including co-lead investor OTB Ventures, Fujitsu Ventures, Allusion and Bloccelerate as well as existing investor Medici Ventures, LP also joined the funding round.

Discover the stories that interest you

CashKaro raises $15.8 million from Affle Global: Starting cashback and coupon
CashKaro raised 130 crore ($15.8 million) from Affle Global Pte Ltd This minority investment was transferred to Pouring Pounds UK, the parent entity of Pouring Pounds India which houses the CashKaro and EarnKaro brands.

Cleantech startup SolarSquare raised $12 million in funding: SolarSquare, which operates in the B2C solar products space,
raised Rs 100 ($12 million) series A crore funding in a round led by Elevation Capital and LowerCarbon, the climate tech fund of billionaire investor Chris Sacca. The round also saw participation from existing investors Good Capital and Rainmatter as well as angel investors including Meesho founders Vidit Aatrey and Sanjeev Barnwal.

AlmaBetter raises $2.7M from Kaalari Capital and others: The AlmaBetter development platform has
raised a seed round of $2.7 million from Kalaari Capital, more than 15 renowned angel investors and founders of technology companies, including Vidit Aatrey (CEO, Meesho), Sanjeev Kumar (CTO, Meesho), Rajesh Yabaji (CEO, Blackbuck), Varun Alagh (CEO, MamaEarth) and Rahul Dalmia (first backer of Polygon Technology) among others.

stay on top Technology and startup news it is important. Subscribe to our daily newsletter for the latest must-have tech news, delivered straight to your inbox.