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The funding winter seems to have set in for the startup ecosystem in India as the venture capital inflow in the fourth week of July dropped to around $100 million in the absence of any large deals.

The total venture capital funding stood at $103 million cutting across 25 deals. In comparison, the previous week saw total funding of $233 million. All but one deal this week were in the early stage.

This reduction in funding is probably a sign that the capital inflow into Indian startups may slow down further in the coming weeks. Funding might also be more or less limited to early-stage companies.

However, given the funds, totaling more than $4.5 billion, raised by the global venture firms, the winter might begin to thaw soon. It remains to be seen when these funds loosen their purse strings and chart their investment strategy.

Deals of the week

Neobanking platform NIYO SOLUTIONS raised $30 million from Mumbai-based private equity firm, Multiples Alternate Asset Management Pvt Ltd.

Healthtech startup Eka Care raised $15 million from Hummingbird Ventures, 3one4 Capital, Mirae Assets, Verlinvest, Aditya Birla Ventures, Binny Bansal, Rohit MA, and other investors.

Healthtech startup Fitterfly raised $12 million in a Series A round, led by Amazon Smbhav Venture Fund and Fireside Ventures.

Edtech startup Creative Galileo raised $7.5 million from Kalaari Capital, Affirma Capital, East Ventures and Valiant Employee Investment Fund.

Wholesale cross-border platform Lal10 raised $5.5 million in a pre-Series A round led by Yuj Ventures (Xander Group) and Beyond Capital Ventures.