Venture capital funding into Indian startups recorded a sharp decline and this was largely due to the absence of large deals during this week.

The total funding this week came in at $168 million across 28 deals. In comparison, the previous week saw a total amount raised at $418 million.

Last week, there were two deals with value above $100 million but this week, the highest funded deal was of TVS Automotive Solutions at $44 million.

This shows the uncertain nature of VC funding into the Indian startup ecosystem in the current environment as there are no definite trends that define the capital inflow.

In addition, when investors are focused on the artificial intelligence segment, there is no credible story from India as yet. This also explains the lower funding volume into the ecosystem.

Interestingly, this week there were a few deals which were focused on the consumer tech segment. These are ventures which have created distinct brands in a highly competitive market.

TVS Automobile Solutions owned myTVS raised Rs 425 crore ($44 million approx.) led by CE-Invests.

Lifestyle brand DailyObjects raised Rs 332 crore ($34.3 million approx.) from Xponentia Capital Partners, Anicut Capital, and Axiom Asia Private Capital.

Consumer tech brand Lumio raised $12 million from Blume Ventures, Stellaris Venture Partners and 3one4 Capital.

Kitchen appliances brand Beyond Appliances raised Rs 110 crore ($11.3 million approx.) from Fireside Ventures, Dharana Capital and others.

Deeptech startup Quanfluence raised $10 million from Chiratae Ventures, Pi Ventures and Rainmatter by Zerodha.

Edtech company byteXL raised $9 million from Elevar Equity, Kalaari Capital, and The Michael & Susan Dell Foundation.

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