[Weekly funding roundup Sept 19-23] Venture capital inflow sees a decline

The venture capital inflow into startups continues to remain in a steady state with modest transactions dominating the funding as investors remain cautious given the macroeconomic environment.

The total venture funding for the fourth week of September stood at $188 million across 18 deals. In comparison, the previous week saw a venture capital inflow of $247 million.

Given the ongoing funding winter, the average size of larger venture deals is around $50-75 million, with the largest quantum of transactions taking place in the early-stage category. This present environment is unlikely to change anytime soon.

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The macroeconomic conditions are also likely to only tighten the purse strings of investors as the US Federal Reserve went in for another round of interest rate hikes to curb inflation. This will only tighten the inflow of capital into the startup ecosystem.

At the same time, there is also talk of valuation downgrades of startups and many of them are likely to go for down rounds of funding.

Transactions

Zopper, an insurtech startup, raised $75 million from Creaegis, ICICI Venture, Bessemer Venture Partners, and Blume Ventures.

Light Microfinance raised Rs 196 crore from British International Investment, Nordic Microfinance Initiative, Triple Jump BV, and Incofin IM.

Join Ventures, a house of D2C brands platform, raised $23.5 million from MO Alternate Investment, Convivialité Ventures and DSG Consumer Partners.

Audio platform KukuFM raised $21.8 million from The Fundamentum Partnership, Paramark, KRAFTON Inc, 3one4 Capital, Vertex, and Verlinvest.

Math learning platform Bhanzu raised $15 million from Eight Roads Ventures and B Capital.

Farm-to-consumer brand Deep Rooted raised $12.5 million from IvyCap Ventures, Mayfield, Accel, and Omnivore.

House of brands platform FS Life raised Rs 50 crore from Fireside Ventures and other prominent angel investors.