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Recent notable developments in the Indian startup ecosystem that you should be aware of (January 17) Billionaire Nikhil Kamath, ICICI Prudential, and other investors will invest another Rs 250 crore in Mumbai-based gaming firm Nazara Technologies. Nazara said the raised capital would be used for the company's growth objectives. Google-backed edtech firm Adda247 has reported an 88.5% increase in its revenue, reaching Rs 115 crore in FY23, up from Rs 61 crore in FY22. Despite this notable revenue surge, the company's losses have also escalated, showing a fourfold increase to Rs 110 crore in FY23 compared to Rs 28 crore in the previous fiscal year. Mumbai-based healthcare startup RenalProject has raised an undisclosed amount in a pre-seed funding round led by JITO Angel Network (JAN) and other investors. Founded by Shashank Moddhia, RenalProject is on a mission to transform the delivery and availability of dialysis therapy, especially in tier 2 and 3 cities in India. Infibeam Avenues Ltd, an AI-powered fintech company, today said it has appointed Rajesh Kumar SA as the Chief Executive Officer (CEO) of Phronetic.AI. Fetcch, a startup specializing in web3 payments and digital rewards, has raised $1.5 million in a pre-seed funding round led by AppWorks Venture and Hashkey Capital, with participation from LD Capital, Compute Ventures, M6, GravityX Capital, and NGC. Fintech startup Upswing has raised $4.2 million in a pre-series-A funding round led by Quona Capital, a notable name in the investment sector. Upswing's banking-as-a-service platform is designed to be low-code, customizable, simple, and modular. The platform significantly reduces the integration efforts required by consumer tech players to launch financial products such as savings accounts, deposits, and lending services. #bengaluru #delhi #startup #entrepreneurs #technology #founders #innovation #India #Indianstartupnews

#FundingWithYS 💰 💼 Company: VidyutTech 💸 Funding: $10 million ⚡ Round: Series A equity and debt 👥 Investors: 3one4 Capital, Saison Capital, Zephyr Peacock India, Force Ventures LLP, Alteria Capital, and udaan.com CEO Sujeet Kumar. The startup, founded in 2021 by Gaurav Srivastava and Xitij Kothi, said it will use the fund to launch EV insurance, as well as expand into new geographies--40 cities, at present. It also aims to increase its headcount across roles and job functions, including product, engineering, and sales operations, by double. More importantly, the company will use the funds to expand into the lifecycle management side of the equation, where it's currently testing servicing and maintenance offerings, said Vidyut's Co-founder Kothi. Read more at the link in our comments section 👇 by Aparajita Saxena | #Funding #Startups

A. Bengaluru-Based Moneyview Achieves Unicorn Status :- Moneyview, a Bengaluru-based loan provider, has reportedly become India's latest unicorn startup after securing funding at a valuation of $1.2 billion. Although the company has not officially confirmed this development, a report indicates that the funding was supported by existing investors Accel India and Nexus Ventures. B. Investment Details :- - Accel India : Contributed Rs 29 crore. - Nexus Ventures : Contributed Rs 19 crore. - Funding Round Status : The round is ongoing, with additional funds expected to be raised in the coming months. C. Previous Funding Milestone :- - December 2022 : Moneyview achieved "soonicorn" status by raising $75 million at a valuation of $900 million. - Lead Investors : Winter Capital, US-based Tiger Global Management, Evolvence India Fund, and Apis Partners. D. Founders :- - Puneet Agarwal and Sanjay Aggarwal founded Moneyview in 2014. - Products : The startup provides personalized credit products, including instant personal loans and financial management solutions. - Partnerships : Collaborates with several NBFCs, such as Whizdm Finance, Aditya Birla Capital, DMI Finance, Clix, Incred Finance, Northern Arc, Vivriti Capital, IDFC First Bank, and Oxyzo. E. Financial Performance :- - FY23 Operating Revenue : Increased by 160% from Rs 222 crore in FY22 to Rs 577 crore. - Profit Surge : Profits rose by 2,616%, from Rs 6 crore in FY22 to Rs 163 crore in FY23. - Profit Before Tax : Reported at Rs 175 crore for FY24. #RaffesiaTechnologies #Moneyview #PuneetAgarwal #SanjayAggarwal #Unicorn #Accel #Nexus #Funding #WhatsBuzzing #Digitalmarketing #Entrepreneurship #Marketing #Startups #Advertisingandmarketing #Contentmarketing #Socialmedia #Leanstartups #Motivation #Management

Scaler Bee'𝐬 𝐖𝐞𝐞𝐤𝐥𝐲 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 𝐁𝐮𝐳𝐳: 19𝐭𝐡 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝐭𝐨 24𝐭𝐡 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 This week, the 𝑰𝒏𝒅𝒊𝒂𝒏 𝒔𝒕𝒂𝒓𝒕𝒖𝒑 𝒆𝒄𝒐𝒔𝒚𝒔𝒕𝒆𝒎 witnessed an impressive  𝒔𝒄𝒂𝒍𝒆-𝒖𝒑, with 26 𝒄𝒐𝒎𝒑𝒂𝒏𝒊𝒆𝒔 raising nearly $129.5 𝒎𝒊𝒍𝒍𝒊𝒐𝒏 across growth and early-stage rounds. 𝑲𝒆𝒚 𝒉𝒊𝒈𝒉𝒍𝒊𝒈𝒉𝒕𝒔: 🔸5 growth-stage deals accounted for $73.7 million, RentoMojo led the pack with a $25 million investment from Edelweiss Discovery Fund Series – I and Chiratae Growth Fund and WALKO FOOD COMPANY PRIVATE LIMITED, the force behind NIC ice cream brand, secured $20 million from Jungle Ventures. Yulu, an electric mobility startup, powered ahead with $19.25 million from Magna and Bajaj Auto Ltd. And not to be overlooked, education-focused NBFC Auxilo Finserve Private Limited raised $6 million in non-convertible debt from AK Capital Finance. 🔸19 early-stage deals totalled $55.77 million, VidyutTech, Samunnati, Varaha, and PURE EV®, reflecting the breadth of innovation in sectors like EV financing, agriculture, and climate-tech. 🔸Seed rounds led with 8 deals, followed by 5 pre-seed and 4 Series A rounds. 🔸Bengaluru topped city-wise deals with 9, trailed by Delhi-NCR, Mumbai, and Hyderabad. 🔸Weekly, funding declined 20% versus the previous week's $162 million across 25 deals. The vibrant startup ecosystem continues to attract significant capital, with an average of $158 million deployed over the past 8 weeks.  𝑬𝒙𝒄𝒊𝒕𝒊𝒏𝒈 𝒕𝒐 𝒔𝒆𝒆 𝒕𝒉𝒊𝒔 𝒎𝒐𝒎𝒆𝒏𝒕𝒖𝒎 𝒔𝒖𝒔𝒕𝒂𝒊𝒏𝒊𝒏𝒈 𝒊𝒏𝒕𝒐 2024. #funding #investment #startupecosystem #indianstartups #fundraising #success #equityfunding #debtfunds #venturecapital #angelinvestor #enterpreneur #getfunded #happyfounders #electricalvehicles #education #bengaluru #agriculture #climatetech #innovation #capitalraising #business #pitchdeck #marketanalysis #businessplan #consultation #industryinsights #investorrelations #growthhacks #scaleyourbusiness #scalerbee

Indian Startup Funding Update: March 25th - 30th, 2024 Funding: $125.13 million raised across 17 startups (down 71% from last week) Growth Stage Deals: 7 deals totaling $103.43 million (led by ShareChat’s $49 million debt funding) Early Stage Deals: 9 deals totaling $22.71 million (led by sustainable packaging startup Bambrew) Top City: Bengaluru with 5 deals Fund Launch: Alteria Capital’s $186 million venture debt fund Shutdown: Investment tech startup GoldPe ceases operations 🔹Detailed Breakdown🔹 Funding: Significant drop compared to last week, with seed funding and debt deals leading the pack. City & Segment: Bengaluru dominates in deals, while TheKredible offers a more comprehensive picture. Series-wise Deals: Seed funding takes the top spot, with Pre-Series A and Series A following. Week-on-Week Trend: Funding dips sharply from $447.6 million last week. Departures: Paytm’s Praveen Sharma resigns. Fund Launches: Alteria Capital raises $186 million for startups. Shutdowns: Investment tech startup GoldPe shuts down after one year. Other News: CCI approves MEMG & 360 One’s investment in API Holding, ICICI raises Zomato PT, Innoviti & Concerto receive PA licenses from RBI. For a more visual representation, check out our infographic! Source : Entrackr #IndianStartups #Funding #VentureCapital #StartupEcosystem #fundraising #fundraiser #bengaluru #startupbusiness #startup #investment #zamato #paytm

Do you think VC (Venture Capital) is something new in India? Think again! Ancient India had its own "societies" – where merchants pooled resources to back risky trade voyages where the chances of success and returning back to the land safely were very low. This was an early form of risk capital! While different from the VC system we know today, it shows the spirit of backing innovation has been deeply rooted in India since ancient times. However, India's venture capital scene in the modern sense got its start way back in 1988! It all began with ICICI Ventures, originally known as TIDCI. This pioneering firm emerged from a joint venture between ICICI and UTI, fueled by seed funding from the World Bank. 🚀 What's fascinating is how Mr. Narayanan Vaghul, then Chairman of ICICI, shaped ICICI Ventures: 🔆 He kickstarted ICICI's VC initiatives. 🔆 Strategically placed its headquarters in Bangalore. 🔆 Championed growth even when assets under management were modest. Today, ICICI Ventures is a private equity powerhouse with billions under management! Pretty amazing considering their modest ~$10M debut. It's also worth noting that its early success relied heavily on US venture firms generously sharing their hard-won knowledge. In those early days, finding experts to assess opportunities and the lack of credit rating systems were roadblocks for many VCs. But ICICI Ventures kept on the required perseverance. 💪 The Indian government's reforms in the 1990s had a significant impact on the VC industry. Liberalization of the economy, opening up of the stock markets, and the introduction of new policies such as the Capital Gains Tax and the Securities and Exchange Board of India (SEBI) Act helped create a favorable atmosphere for VC investments. Over time, VC firms in India shifted their strategy and focus from investing in startups to more established companies. This shift was driven by the need for shorter investment horizons and quicker returns. However, around 10 years back, with the growth of the Indian startup ecosystem, VC firms once again started to look at early-stage investments. What do you think of the VC scene in India? Share your comments. Follow Manish Balani for more such interesting and insightful posts. #venturecapital #india #startupindia #startups #funding

#TodayUpdates: 1. Spiritual-tech startup Astrotalk raises $20M from New York-based Left Lane Capital 2. Hyderabad Angels launches Rs 150 Cr VC fund for tech, AI startups 3. Navi Finserv to raise up to Rs 600 Cr via bond issue 4. Fintech SaaS Solutions Provider Trust Fintech Files DRHP For NSE Emerge Listing 5. BYJU'S FY23 Revenue Touches INR 6,500 Cr, reports Inc42 6. Paytm Confirms Exit Of Manju Agarwal From Paytm Payments Bank’s Board 7. EaseMyTrip.com Eyes Foray Into Hospitality Space With 5-Star Hotel In Ayodhya 8. udaanCapital injects over Rs 170 Cr in Saint-Gobain’s distribution network via MSME channel financing 9. Yu Foodlabs raises Rs 20 Cr as part of larger Series A round 10. Amber Bags $21 Mn To Expand Accommodation Offerings For Students 11. Bloom Hotels turns profitable with Rs 144 Cr revenue in FY23 12. Corrit Electric Private Limited raises Rs 5 Cr 13. Home interior company HomeLane may acquire smaller rival Designcafe, reports ET 14. PlanckDOT raises $1.6M

Sumit Maniyar, CEO of Bengaluru-based gold-loan startup Rupeek faced numerous rejection before reaching a three year revenue growth. From disbursing just Rs 20 crore a year and a half ago, Rupeek now disburses Rs 250 crore a month, with a target set by Maniyar to reach Rs 1,000 crore a month in less than a year. His vision is fueled by a deep understanding of lending dynamics and a commitment to leveraging technology to disrupt the traditional lending landscape. Despite facing setbacks, including a failed education startup, Maniyar's determination led him to found Rupeek in 2015, with backing from prominent investors such as Sequoia Capital, Accel, and Binny Bansal. While profitability has been achieved in 12 out of 20 cities, Maniyar is strategically investing in technology and expansion, even if it means delaying profits in some cities. The backing of investors like Sequoia and Binny Bansal is a testament to Maniyar's ambition and his ability to absorb valuable insights from mentors and advisors. Despite the impressive growth, Maniyar remains grounded, acknowledging the vast untapped potential in the lending market. Looking ahead, Maniyar is inspired by industry leaders like Uday Kotak, aiming to emulate their success by focusing on sustainable growth and innovation. With Rupeek's exponential growth trajectory and a customer base spanning over 35 cities, Maniyar's vision for the future of lending in India seems promising. Read More : Thekarostartup.com #startupstories #successstories #innovation #growth Accelerate banking for your business with Bulkpe https://lnkd.in/gtcmummW

🚀 Indian Startups Secure $449.33M in Funding (Oct 14-19, 2024) This week saw 39 startups raise a remarkable $449.33M, a 234% jump from last week’s $134.42M! Major deals: Eruditus ($150M, Series F) – Mumbai Purplle ($60M, Series E) – Mumbai Neuron7.ai ($44M, Series B) – Bengaluru Sector highlights: AI, EdTech, and beauty tech continue to attract heavy investments. New Funds Launched: Anicut raised $11M for its Private Credit Fund 3 SBI Foundation and Villgro launched "Innovators for Bharat" for agritech startups Tetr College of Business launched a $10M fund for student entrepreneurs Acquisitions: Licious acquired My Chicken and More IBM purchased Prescinto Key Financial Results: BharatPe hit ₹1,426 Cr revenue (50% loss reduction) Licious generated ₹685 Cr, cutting losses by 44% Hirings & Exits: AuthBridge onboarded Naveen Goyal as CTO Mamaearth’s CTO Jayant Chauhan resigned The ecosystem is buzzing with potential deals and fund launches as investor confidence rebounds! What are your thoughts on this week’s trends? 🔥 Source - Entrackr #Startups #Funding #Innovation #Tech #Investments #IndianEcosystem

Scaler Bee'𝐬 𝐖𝐞𝐞𝐤𝐥𝐲 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 𝐁𝐮𝐳𝐳: 19𝐭𝐡 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝐭𝐨 24𝐭𝐡 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 This week, the 𝑰𝒏𝒅𝒊𝒂𝒏 𝒔𝒕𝒂𝒓𝒕𝒖𝒑 𝒆𝒄𝒐𝒔𝒚𝒔𝒕𝒆𝒎 witnessed an impressive 𝒔𝒄𝒂𝒍𝒆-𝒖𝒑, with 26 𝒄𝒐𝒎𝒑𝒂𝒏𝒊𝒆𝒔 raising nearly $129.5 𝒎𝒊𝒍𝒍𝒊𝒐𝒏 across growth and early-stage rounds. 𝑲𝒆𝒚 𝒉𝒊𝒈𝒉𝒍𝒊𝒈𝒉𝒕𝒔: 🔸5 growth-stage deals accounted for $73.7 million, RentoMojo led the pack with a $25 million investment from Edelweiss Discovery Fund Series–I and Chiratae Growth Fund and WALKO FOOD COMPANY PRIVATE LIMITED, the force behind NIC ice cream brand, secured $20 million from Jungle Ventures. Yulu, an electric mobility startup, powered ahead with $19.25 million from Magna and Bajaj Auto Ltd. And not to be overlooked, education-focused NBFC Auxilo Finserve Private Limited raised $6 million in non-convertible debt from AK Capital Finance. 🔸19 early-stage deals totalled $55.77 million, VidyutTech, Samunnati, Varaha, and PURE EV®, reflecting the breadth of innovation in sectors like EV financing, agriculture, and climate-tech. 🔸Seed rounds led with 8 deals, followed by 5 pre-seed and 4 Series A rounds. 🔸Bengaluru topped city-wise deals with 9, trailed by Delhi-NCR, Mumbai, and Hyderabad. 🔸Weekly, funding declined 20% versus the previous week's $162 million across 25 deals. The vibrant startup ecosystem continues to attract significant capital, with an average of $158 million deployed over the past 8 weeks.  𝑬𝒙𝒄𝒊𝒕𝒊𝒏𝒈 𝒕𝒐 𝒔𝒆𝒆 𝒕𝒉𝒊𝒔 𝒎𝒐𝒎𝒆𝒏𝒕𝒖𝒎 𝒔𝒖𝒔𝒕𝒂𝒊𝒏𝒊𝒏𝒈 𝒊𝒏𝒕𝒐 2024. #funding #investment #startupecosystem #indianstartups #fundraising #success #equityfunding #debtfunds #venturecapital #angelinvestor #enterpreneur #getfunded #happyfounders #electricalvehicles #education #bengaluru #agriculture #climatetech #innovation #capitalraising #business #pitchdeck #marketanalysis #businessplan #consultation #industryinsights #investorrelations #growthhacks #scaleyourbusiness #scalerbee