[Weekly funding roundup] Venture investments drop below $21M in the first week of May
Venture funding in the first week of May touched $20.57 million with seven transactions spanning across early-stage deals.
![[Weekly funding roundup] Venture investments drop below $21M in the first week of May](https://images.yourstory.com/cs/2/f08163002d6c11e9aa979329348d4c3e/Weeklyimage-1577460362436.png?mode=crop&crop=faces&ar=2%3A1&format=auto&w=1920&q=75)
The first week of May witnessed a total venture funding of $20.57 million, much lower than the last week of April when the funding touched $583 million.
The month of April was certainly a high point for the Indian startup ecosystem, with the emergence of eight new unicorns and the total investments for the month touching $4 billion.
This week, there were seven deals, with all of the transactions in the early-stage category. Debt funding accounted for Rs 24 crore ($3.26 million) in the week raised by a Bengaluru-based neo-banking startup Avail Finance.
Founding team at Teachmint
![[Weekly funding roundup] Venture investments get a leg-up from unicorns](https://images.yourstory.com/cs/2/f08163002d6c11e9aa979329348d4c3e/Weeklyimage-1577460362436.png?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop)
There was no late-stage and growth-stage deal during the week, and the ecosystem saw no mergers and acquisitions.
Key deals
Online teaching platform Teachmint raised $16.5 million (around Rs 120 crore) in a Series A funding round led by Learn Capital.
Fintech startup Nivesh secured $1.6 million in a pre-Series A round from IAN Fund.
Arthya Wealth and Investments, a wealth management and investment advisory firm, secured $1 million in pre-Series A funding round led by family offices of industrialist Rishi Kumar Bagla (Bagla Group) and technocrat Krishen Lal Khanna (Trenton Investments).
B2B retail SaaS startup 6Degree received $1 million from SucSEED Indovation Fund, Keiretsu Forum, SucSEED Angel Network, and AngelBay as part of a run-up to a Series A round.
Other transactions
Jidoka Technologies, a startup operating in the field of automated cognitive inspection for manufacturing, raised a seed funding of $340,000 from a technology entrepreneur.
iobot, the parent company of low-code IoT platform Thingsup, secured $100,000 in pre-Series A funding round from GSF Accelerator.
Edtech platform secured Rs 25 lakh in seed funding from Pune-based angel investor Girjesh Vyas.
India connect
San Francisco-based Obviously AI, a no-code tool that enables anyone to build and run AI models without writing code, raised $3.6 million as seed funding.
Edited by Kanishk Singh
