ETtech Deals Digest: Boldfit, GreenCell lead as weekly funding hits $232 million, down 45% on-year
Boldfit led deal activity with $41.5 million, followed by GreenCell Mobility at $34.5 million, Inner Sky Labs at $30.9 million, and Scimplify at $25 million. Accel was among the most active investors, backing Scimplify, Origin, and CosmoChute. Elevation Capital invested in Mesa School of Business and Spill Games, while Pantera Capital backed Fission Labs.
ETtech reported that the weekly funding for Indian tech and startup deals hit $232 million, a significant decrease of 45% compared to the previous year's same period. Boldfit, GreenCell Mobility, Inner Sky Labs, and Scimplify led the deals with $41.5 million, $34.5 million, $30.9 million, and $25 million respectively. Accel, Elevation Capital, and Pantera Capital were among the most active investors, backing Scimplify, Origin, and CosmoChute.
Early-stage deals accounted for 51.3% of the capital raised, late-stage transactions made up 38.9%, and seed-stage companies comprised the remaining 9.8%. Boldfit planned to use the funds to expand its offline presence and invest in product development, while GreenCell Mobility aimed to deploy 4,500 electric buses over the next six to eight quarters. Scimplify is looking to expand its advanced materials business and operations in the US.
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