It seems there’s been a significant drop in startup funding, with only 12 deals reported this week. A 59% decrease in startup funding volume compared to the same week last year is significant, totaling $171 million across 12 deals. Economic factors or industry-specific changes might be influencing this decline.
Companies in seed, early and late-stages had raised about $186 million from 29 rounds in the period from February 23 to March 1, 2023, as per data from Tracxn. Late-stage funding – at $124.5 million – accounted for about 73% of the overall deal value this week, followed by the seed-stage at $31 million, or 18%. The month of February saw startups raise $516 million across 82 rounds, versus $551 million across 109 rounds in January.
Sequentially, funding in the latest week saw a two-fold increase in value terms, and was down about 40% by volume. The week’s numbers in terms of value were largely buoyed by a $100 million fundraise at logistics startup Shadowfax.
