ETtech Deals Digest: Rate hikes, dried up liquidity keep investors from betting on new ventures

Funding faucets have been working dry for Indian startups for fairly a while now. Buyers globally have been jittery in the direction of pouring cash into new ventures. The Federal Reserve’s determination to hike rates of interest by 75 bps additionally comes as an indication of warning for buyers. Main Central banks together with the Financial institution of England have hiked the rates of interest, consequently, liquidity out there has dried up, making it powerful for buyers to position their bets on new ventures.

The startup ecosystem in India is just not solely seeing a discovering crunch however can also be being compelled to chop the workforce and lay off folks in a bid for survival.

With the standard sources of funding not proving to be fruitful, startups have additionally been utilizing convertible notes.

Icertis raises $150 million in convertible funds from Silicon Valley Financial institution: SaaS startup
raised $150 million via a revolving credit score facility and convertible financing from US-based Silicon Valley Financial institution. The corporate mentioned on Monday that it will use the funds to additional speed up the adoption of applied sciences comparable to synthetic intelligence (AI), machine studying, and blockchain.

Premji Invests backs D2C startup The Sleep Company: Direct-to-consumer sleep-tech startup,
The Sleep Company, has raised Rs 177 crore (about $21.3 million) as a part of a contemporary funding spherical led by Premji Make investments with present investor Hearth Ventures additionally taking part. The capital elevating spherical additionally features a debt part of as much as Rs 8.2 crore ($1 million) from Alteria Capital. Premji Invests now owns 15%-20% stake within the firm, in line with sources.

Crypto app Settlemint raises $16 million: SettleMint, the blockchain utility growth platform for personal and public sector has
raised $16 million in Series A funding, in a spherical led by UK-based Molten Ventures. New buyers together with co-lead investor OTB Ventures, Fujitsu Ventures, Allusion and Bloccelerate together with present investor Medici Ventures, L.P additionally joined the funding spherical.

CashKaro raises $15.8 million from Affle World: Cashback and coupon startup
CashKaro raised 130 crore ($15.8 million) from Affle World Pte Ltd This minority funding has flowed into Pouring Kilos UK, the father or mother entity of Pouring Kilos India which homes the CashKaro and EarnKaro manufacturers.

Cleantech startup SolarSquare raised $12 million in funding: SolarSquare, which operates within the B2C photo voltaic merchandise house,
has raised Rs 100 ($12 million) crore Series A funding in a spherical led by Elevation Capital and LowerCarbon, billionaire enterprise investor Chris Sacca’s climate-tech fund. The spherical additionally noticed participation by present buyers Good Capital and Rainmatter in addition to angel buyers, together with Meesho founders Vidit Aatrey and Sanjeev Barnwal.

AlmaBetter raises $2.7 million from Kaalari Capital and others: Upskilling platform AlmaBetter has
raised a seed round of $2.7 million from Kalaari Capital, 15+ angel buyers and founders of marquee know-how corporations, together with Vidit Aatrey (CEO, Meesho), Sanjeev Kumar (CTO, Meesho), Rajesh Yabaji (CEO, Blackbuck), Varun Alagh (CEO, MamaEarth), and Rahul Dalmia (early backer in Polygon Know-how) amongst others.

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