Monday movement..

Indian startup funding declines over 50% in February.

In February, contactless payments service provider ToneTag led the chart with $78 million, followed by Udaan and SpotDraft, which secured $75 million and $54 million, respectively.

Cashfree, Zeta, and Geniemode also raised over $50 million each. Other notable deals included 75F, Rapido, PMI Electro Mobility, and JQR.

• February saw notable consolidation in the Indian startup ecosystem.

• Perfios acquired CustomerXPs, the fraud detection platform Clari5, for an undisclosed amount.

• Veranda Learning expanded its presence in commerce education by acquiring stakes in BB Virtuals and Navkar Digital.

• Flipkart has decided to shut down ANS Commerce, its full-stack e-commerce enabler.

• Early-stage deals were predominantly driven by SaaS and AI startups. According to data, out of the $180 million raised in early-stage funding, SaaS and AI startups accounted for nearly $100 million in February.