ETtech Deals Digest: Startups raise $400 million this week, up 7x on-year
Well, well, well, it seems some unicorns are eating rather handsomely this week while their smaller stablemates might be nibbling crumbs. Startups collectively bagged a cool $400 million, a staggering seven-fold increase from last year, yet the number of deals barely budged. This isn't just a funding boom; it's a 'fewer-but-fatter' phenomenon, proving that VCs are still opening their wallets, but only for those who can truly justify the extra zeroes. Perhaps the "spray and pray" days are truly behind us, replaced by a more surgical, big-bet approach, leaving the also-rans to ponder their pitch decks.
Indeed, the latest ETtech Deals Digest reveals a significant surge in capital inflow, with startups securing $400 million this week, a remarkable 700% increase compared to the same period last year. Interestingly, this substantial rise in investment value occurred despite the overall deal volume remaining largely stagnant. The market saw 41 deals materialize, a figure almost identical to the 42 deals reported in the corresponding week of the previous year, indicating larger average ticket sizes for successful ventures rather than a broader distribution of funding.
