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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.

Grant Thornton Bharat: The number of deals through mergers and acquisitions and private equity funding in the consumer sector dropped to 331 last calendar year from 514 a year earlier while the drop in value was 9% lower at $8.6billion against $9.3 billion largely led by ecommerce sector even as textiles, durables and retail sector saw higher deal count, said the report shared exclusively with ET.

Hygiene and wellness brand Pee Safe has raised $3 million in a Series B funding round led by Natco Pharma Limited and Rainmatter Health. The funds will be used to expand the company's retail presence in India, expand overseas, and allocate additional resources to marketing and awareness initiatives. Pee Safe offers a range of personal hygiene products, including reusable pads, tampons, and menstrual cups, and aims to address the lack of access to safe menstrual and personal hygiene products for Indian women.

Personal hygiene brand Pee Safe has raised $3 Mn as part of its $6 Mn Series B funding round to expand retail presence.

"This funding will accelerate our expansion efforts and establish us as the leading brand in the rapidly growing intimate wellness sector, which boasts a remarkable CAGR of 16%," Vikas Bagaria, founder and CEO of Pee Safe adding that over the past five years, the brand has achieved a growth rate of 100% CAGR, surpassing markexpectations.