ETtech Deals Digest: Late-stage investments boost funding in Indian startups to $447 million this week

Indian startups secured a total of $447 million in funding this week across 20 rounds, according to data provided by market intelligence firm Tracxn, a 124% surge compared to the same period last year, when startups had raised $188 million across 66 rounds.

The funding was bolstered by late-stage investments in app development startup Builder.ai and Walmart-owned fintech major PhonePe.

While Builder.ai raised $250 million from Qatar’s sovereign wealth fund Qatar Investment Authority (QIA), PhonePe picked up an additional sum of $100 million from New York-based equity firm General Atlantic as a part of its $1 billion funding round.