Deals within ecommerce nearly halved by value to 3.3 billion while the number fell 70% to 124 deals. Apparel and retail, however, saw deal transaction surge seven times, led by Reliance Retail which raised nearly $1.6 billion from Qatar Investment Authority and Abu Dhabi Investment Authority. Lenskart also received a funding of $500 million during the first half of 2023, followed by M&G Plc, Lightspeed Venture Partners and DST Global buying a stake in Udaan last month.
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