Despite the turmoil in the stock market, the Indian startup sector has made a good progress this week. Startups raised $342.8 million across 25 deals, a 50 percent increase over the previous week. The clean tech sector led the way with Euler Motors raising $73.6 million. Additionally, the e-commerce sector saw the most funding deals.

New fund announcements and IPO news were other major events this week. While Pentathlon Ventures raised its second B2B tech fund of Rs 255 crore, Info Edge has allocated Rs 250 crore for a new fund. Additionally, SaaS startup Merito received SEBI approval for its IPO, and Cashify selected bankers for its Rs 1,500-1,800 crore IPO.

In other major developments, ride-hailing company Namma Yatri acquired Netherlands-based Automicle as part of its foray into the European market. AI startup SarvamAI is in talks to raise $250 million at a valuation of $1.5 billion. In addition, startups like Plazza and DevX are also preparing to raise fresh funding.