![You are currently viewing [Weekly funding roundup June 19-23] VC investments see a sharp fall](https://blog.digitalsevaa.com/wp-content/uploads/2022/11/funding-lead-image-1669386008401-scaled.jpg)
The month of June has been a tumultuous one for the Indian startup ecosystem, with venture capital funding swinging wildly on a weekly basis.
Uncertainty in the macroeconomic environment has had a strong bearing on the VC inflow. A week after a rise in funding, thanks to the $100 million infusion into Lenskart, the VC capital has dried up again. The storm at has further dampened the spirits in the startup ecosystem.
In the fourth week of June, total VC inflow stood at $98 million spread across 21 deals, with the largest being a $60 million infusion into Drools. In comparison, startups raised $213 million last week.
Funding in the startup ecosystem is likely to remain uncertain over the next few months, given the macroeconomic situation. Investors will be closely watching the steps taken by the US Fed with regard to interest rate hikes, especially with the money flow into the financial systems across the world.
In addition, the negative news surrounding BYJU’S is not really helping the Indian startup ecosystem as the edtech unicorn continues to face multiple challenges in terms of raising fresh capital, brand image, and auditor exits, among others.
Larger cheques are likely to be few and far between as investors are in wait-and-watch mode. Startups gaining the attention of venture capitalists are the AI companies and there are few of them in India.
Key transactions
Drools Pet Food raised $60 million from global consumer-focused investment firm L Catterton.
Eye care hospital chain EyeMantra raised $10 million from MantraCare.
Digantara, a spacetech startup raised $10 million from , Kalaari Capital, Global Brain, Campus Fund, and the founders of IIFL Wealth.
