[Weekly funding roundup July 4-8] Venture capital inflow continues to decline
The funding winter seems to have hit the startup ecosystem as the month of July continues to witness a decline in the capital inflow.
The second week of the month of July saw total funding of $153 million, cutting across 16 deals. This is a 45 percent decline in funding inflow as compared to the previous week, which witnessed a total inflow of $278 million.
The absence of large deals contributed to this steep decline in venture capital funding.
The week may give a peek into what the future lies for the Indian startup ecosystem as industry observers believe that the second half of the year is likely to witness more challenges when it comes to funding startups. Venture capitalists are adopting a wait-and-watch attitude on how the situation will unfold before they loosen their purse strings, while well-run startups remain well-capitalised.
It is very unlikely that the startup ecosystem will see the euphoria of 2021 anytime soon, and it is likely to see a much deeper correction. This could also mean that startups that managed to raise funding in 2021, even though there were questions around their business model, will face higher scrutiny now.
Insurtech venture InsuranceDekho is gearing up to close a fresh funding round of $100 million, sources familiar with the matter told YourStory.
Fintech startup Innoviti Payment raised $15 million from Panthera Growth Partners, Alumni Ventures, Patni Family Office, FMO, and Bessemer Venture.
Fintech platform MarketWolf raised $10 million from Jungle Ventures, Dream Capital, iSeed, 9Unicorns, Crescent, and Riverwalk.
B2B edtech startup AntWalk raised $7.5 million from GSV, Y Combinator, and Matrix Partners India.
Acefour Accessories, a D2C brand in the travel accessories space, raised $7 million from Sixth Sense Ventures and Volrado Venture Partners.
Insurtech startup Ensuredit raised $4.2 million from Cover Genius, 9Unicorns, NexStep Discovery, CP Ventures, Venture Catalysts, and IPV.