After October’s resurgence in startup funding, the beginning of November took on a more subdued tone. During the first week of the eleventh month in 2023, the startup ecosystem secured USD 133 million in funding through 18 deals. This figure marks a noteworthy 71 per cent decline compared to USD 466 million raised in the preceding week.
Karnataka-based manufacturing startup Aequs raised USD 54 million in funding, led by Amansa Capital. This was the biggest funding deal of the week. The enterprisetech sector received the highest funding, raising USD 64 million across three deals.
The enterprisetech and agritech sectors had the most number of deals, with three each. Agritech startups raised USD 3.6 million in funding. Seed funding continued to decline, with USD 2.1 million raised across three deals in the first week of November.
In other news, Curefoods, a cloud kitchen startup, acquired foodtech startup Yumlane and Lenskart, led by Peyush Bansal, acquired AI-powered computer vision startup Tango Eye.
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