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India gets its 1st unicorn of 2023 in Zepto which raises $200 mn Ending the unicorn drought in India amid the ongoing funding winter, online grocery company Zepto on Friday announced it has raised $200 million in its Series E round, valuing the company at $1.4 billion. The fundraise brought in new investors, with the StepStone Group leading the round. US-based Goodwater Capital joined the round as a new investor. Existing investors like Nexus Venture Partners, Glade Brook Capital, Lachy Groom and more, doubled down in Zepto with meaningful follow-on ...
India gets its 1st unicorn of 2023 in Zepto which raises $200 mn
India gets its 1st unicorn of 2023 in Zepto which raises $200 mn
Source: IANS
25/08/2023 2:16:13 PM
Younger startups in India are now disrupting the normal: MoS IT   The centre of gravity of technology is finally moving to open source systems and younger startups in India are now disrupting the normal, Minister of State for Electronics and IT, Rajeev Chandrasekhar, said on Thursday. Addressing the G20 ‘Digital Innovation Alliance’ summit in Bengaluru, the Minister said that three trends are happening that are of interest to startups which are part of the innovation economy. “The centre of gravity of tech, which used to be...
Younger startups in India are now disrupting the normal: MoS IT
Younger startups in India are now disrupting the normal: MoS IT
Source: IANS
17/08/2023 1:57:41 PM
Indian startups might see funding spring in 6-12 months One in two investors (50 per cent) are positive that the startup funding spring will return over the next 6-12 months in India, a report showed on Wednesday. Nearly 17 per cent of investors surveyed think the funding winter may end even sooner and the rest believe it would be 12-18 months or more before the funding winter passes, according to the report by Bengaluru-based market research firm Redseer. In all, the US, EU, the UAE and Japan are the largest source of funding for Indian sta...
Indian startups might see funding spring in 6-12 months
Indian startups might see funding spring in 6-12 months
Source: IANS
9/08/2023 3:53:59 PM
20% of Indian unicorns to struggle due to regulatory challenges, unclear business models Indian startups have substantially improved their profitability in FY24, and going forward, about 50 per cent of unicorns in India will be profitable by FY27, a report showed on Friday. However, the story is bleak for 20 per cent of unicorns who will likely struggle due to regulatory challenges, plummeting demands and unclear business models, according to market research firm Redseer. These unicorns could pivot to new models, get acquired by other companies or close for good. India i...
20% of Indian unicorns to struggle due to regulatory challenges, unclear business models
20% of Indian unicorns to struggle due to regulatory challenges, unclear business models
Source: IANS
4/08/2023 11:06:01 AM
Government mulling regulatory measures for startups The government is learnt to be mulling applying stricter regulations on startups through a panel, according to reports. The Corporate Affairs Ministry panel, known as the Company Law Committee (CLC), formed in 2019, is likely to look into the possibility of having regulatory measures for startups, reports said. The need for having a regulatory regime for startups is being felt amid instances of concerns been raised over issues related to corporate governance in such entities, reports sa...
Government mulling regulatory measures for startups
Government mulling regulatory measures for startups
Source: IANS
31/07/2023 11:28:37 AM
7 Indian startups approved for chip designing: Rajeev Chandrasekhar The government aims to build a robust, globally competitive presence in the global semiconductor ecosystem in the next 10 years and so far, seven chip design startups have been approved for funding and assistance in developing their products, Minister of State for Electronics and IT, Rajeev Chandrasekhar, said on Saturday. In his address on the second day of 'Semicon India 2023', the minister said the future is bright for India in the global semiconductor ecosystem. "So far...
7 Indian startups approved for chip designing: Rajeev Chandrasekhar
7 Indian startups approved for chip designing: Rajeev Chandrasekhar
Source: IANS
29/07/2023 5:05:43 PM
India is home to world`s third largest startup ecosystem: Dharmendra Pradhan Union Minister for Education & Skill development & Entrepreneurship Dharmendra Pradhan has said that India is home to world’s third largest startup ecosystem. He underlined that Young India’s innovation and creativity coupled with supportive government policies like the Digital India, Startup India are enabling the country’s youth to become job creators.  The Minister shared his thoughts on how skill development, technology, digitisation, institutional lendin...
India is home to world`s third largest startup ecosystem: Dharmendra Pradhan
India is home to world`s third largest startup ecosystem: Dharmendra Pradhan
Source: Accord Fintech
18/07/2023 1:46:13 PM
Indian startups faced 70% drop in funding in FY23 to $15 bn While the Indian startup ecosystem experienced a sharp funding peak during FY22 reaching $50 billion, a gradual onset of the funding winter over the subsequent quarters led to a 70 per cent drop in FY23 to around $15 billion, a report showed on Tuesday. As funding plummets, startups are hunkering down, reducing burn rate and expediting their path to profitability, according to the report by market research firm Redseer.  "The increasing cost of capital and interest rates, rece...
Indian startups faced 70% drop in funding in FY23 to $15 bn
Indian startups faced 70% drop in funding in FY23 to $15 bn
Source: IANS
18/07/2023 12:39:09 PM
Startup funding plummets but India still one of top 3 funded geographies While still ranking among the top three funded geographies globally (after the US and the UK), India’s funding trend mirrored the declining trend witnessed around the world in the first half of this year, a report showed on Wednesday. The total funding in H1 2023 ($5.5 billion) declined by 24 per cent compared to H2 2022 ($7.3 billion), and a staggering 72 per cent drop compared to H1 2022 ($19.7 billion).  The number of funding rounds also experienced a substantial decrease ...
Startup funding plummets but India still one of top 3 funded geographies
Startup funding plummets but India still one of top 3 funded geographies
Source: IANS
5/07/2023 5:58:49 PM
Meta launches $250K Mixed Reality fund for Indian startups, developers  Meta on Wednesday announced a new Mixed Reality (MR) programme in India that includes a grant of $250,000 for the homegrown startups and developers to build apps and experiences. They can build apps using Meta’s Presence Platform -- the company's broad range of machine perception and AI capabilities for the Meta Quest Platform and metaverse.  According to the company, the fund seeks to nurture innovation and build an ecosystem of XR technologies in the country. ...
Meta launches $250K Mixed Reality fund for Indian startups, developers
Meta launches $250K Mixed Reality fund for Indian startups, developers
Source: IANS
28/06/2023 12:42:27 PM
Indian economy on rise with growing employment, spike in manufacturing: PM Narendra Modi  Prime Minister Narendra Modi on Tuesday said that the Indian economy is on a rise being fuelled by a spike in manufacturing activity and growing employment despite the growing geopolitical tensions. Addressing the newly recruits in various government departments at a 'Rozgar Mela' where more than 70,000 appointment letters were handed over virtually by him, the prime minister said that due to various government schemes like Startup India, Stand up India and Mudra Yojana, seve...
Indian economy on rise with growing employment, spike in manufacturing: PM Narendra Modi
Indian economy on rise with growing employment, spike in manufacturing: PM Narendra Modi
Source: IANS
13/06/2023 12:17:44 PM
From 350 in 2014 to 90K, Indian startups mushroom, to weather funding winter As the ongoing funding winter and hiring slowdown continue to haunt the tech world, India saw a never-seen-before spurt in the number of startups being created across the spectrum in the last nine years that no other country witnessed. Within a couple of years, India became the third largest startup ecosystem in the world, only behind the US and China. The Indian startup ecosystem has been an unstoppable freight train. The tracks are firmly laid through corporate participation in the fo...
From 350 in 2014 to 90K, Indian startups mushroom, to weather funding winter
From 350 in 2014 to 90K, Indian startups mushroom, to weather funding winter
Source: IANS
27/05/2023 5:50:39 PM
Worldline Partners with Zone Startups India to build an accelerator programme to foster innovation and entrepreneurship in the paytech space Worldline, a global leader in payment services, today announced the signing of a memorandum of understanding (MoU) to run an Accelerator Programme for payment technology start-ups with Zone Startups India - a part of BRTSIF (BIL-Ryerson Technology Startup Incubator Foundation- part of BSE). Worldline will also provide technology, business and knowledge platform to help grow these young start-ups being incubated by Zone Startups India.   For the paytech acce...
Worldline Partners with Zone Startups India to build an accelerator programme to foster innovation and entrepreneurship in the paytech space
Worldline Partners with Zone Startups India to build an accelerator programme to foster innovation and entrepreneurship in the paytech space
Source: PR Agency
16/05/2023 1:59:16 PM
`Startups can play significant role in addressing tech challenges in mines sector` Startups can play a significant role in addressing the technological challenges faced by the mining sector of the country and the same will pave the way for a healthy eco-system for mining sector growth, Mines Secretary Vivek Bharadwaj said on Thursday. His statement came while unveiling the logo of the first Mining Startup summit, which would be held at IIT Bombay, Powai on May 29. More than 150 startups and 20 major industries will be participating in the summit, Bharadwaj said. St...
`Startups can play significant role in addressing tech challenges in mines sector`
`Startups can play significant role in addressing tech challenges in mines sector`
Source: IANS
12/05/2023 9:56:13 AM
Hiring in startups up in April, despite 6% annual drop in e-recruitment Despite economic uncertainties, the hiring activity among startups has significantly increased in April this year, while there has been a 6 per cent decline in e-recruitment for white-collar compared to the same period in 2022, a new report said on Tuesday. According to the report by foundit (previously Monster India & APAC), there has been a 4 per cent monthly dip, indicating cautious hiring sentiments among Indian recruiters. Although some sectors like BFSI (+3 per cent), Travel &...
Hiring in startups up in April, despite 6% annual drop in e-recruitment
Hiring in startups up in April, despite 6% annual drop in e-recruitment
Source: IANS
9/05/2023 3:09:07 PM
Hiring for more than Rs 50 lakh per annum jobs in Indian startups down by 80% Hiring in senior roles at Indian startups (CTC greater than 50 lakh per annum) went down by around 80 per cent across new-age tech platforms in the first quarter of 2023 as compared to same period last year, continuing the pattern of declining hiring amid a funding winter, a report showed on Thursday. The e-commerce and edtech sectors saw significant impacts, with hiring plummeting by 93 per cent and 84 per cent, respectively, according to the report by LONGHOUSE Consulting, an executive s...
Hiring for more than Rs 50 lakh per annum jobs in Indian startups down by 80%
Hiring for more than Rs 50 lakh per annum jobs in Indian startups down by 80%
Source: IANS
4/05/2023 5:42:44 PM
Indian startups must boost corporate governance, set norms for G20 nations: Amitabh Kant Indian startups must give priority to good governance and financial management and create new benchmarks not only for India but also for other G20 nations, G20 Sherpa Amitabh Kant has stressed. Globally, startups have evolved into the catalyst for economic recovery, reorientation and growth driven by innovation. At the sidelines of a think tank conference organised by Nishith Desai Associates and TiE Mumbai recently, Kant reiterated the importance of developing the corporate governance ...
Indian startups must boost corporate governance, set norms for G20 nations: Amitabh Kant
Indian startups must boost corporate governance, set norms for G20 nations: Amitabh Kant
Source: IANS
4/05/2023 4:36:56 PM
Promising startups still have reason to cheer amid funding winter As global VC deals took a major hit in the first quarter of this year, investors are still willing to place big bets on promising startups despite the overall decline in deal activity, a new report showed on Wednesday. A total of 4,143 VC funding deals with disclosed funding value were announced globally in Q1 2023, which is a decline of 42.1 per cent compared to the 7,158 announced deals during Q1 2022, according to GlobalData. The number of low-value VC deals (investment less than or ...
Promising startups still have reason to cheer amid funding winter
Promising startups still have reason to cheer amid funding winter
Source: IANS
3/05/2023 5:37:06 PM
India-Latin America trade worth $50 bn: S. Jaishankar External Affairs Minister S. Jaishankar, who is currently on a four-nation tour of North and South America, said that the India-Latin America trade estimated to be $50 billion has a much diversified basket. "Significant increase in investments and interest in mining, energy, agro and infrastructure sectors will power it further," he said while delivering a keynote address at the India-Latin America Business Forum in Panama in Monday. As the fifth largest economy, India's p...
India-Latin America trade worth $50 bn: S. Jaishankar
India-Latin America trade worth $50 bn: S. Jaishankar
Source: IANS
25/04/2023 12:31:43 PM
GCPL to invest Rs 100 cr in early-stage consumer startups in India Godrej Consumer Products Limited (GCPL) on Saturday said they will invest Rs 100 crore in Early Spring, a new Rs 300 crore early-stage consumer fund being set up by Spring Marketing Capital (Spring). GCPL said it will anchor the fund in addition to offering its expertise and experience to help founders build strong, sustainable companies. Spring's first fund of Rs 150 crore continues to invest in companies at Series A and beyond. The Early Spring Fund will invest Rs 5-Rs 20 crore in...
GCPL to invest Rs 100 cr in early-stage consumer startups in India
GCPL to invest Rs 100 cr in early-stage consumer startups in India
Source: IANS
7/04/2023 5:02:38 PM
Indian startups with 'strong fundamentals' will survive: Vinod Khosla Indian startups facing trying times amidst funding crunch and mass firings, ace Indian-origin venture capitalist Vinod Khosla says the ones with "strong fundamentals" will continue to be funded, though at lower valuations, a media report said. "The wheat will get separated from the chaff," Khosla told the BBC, adding that "not-so-good Indian start-ups" will go kaput this year, resulting in fewer but larger start-ups. The Silicon Valley veteran said since th...
Indian startups with 'strong fundamentals' will survive: Vinod Khosla
Indian startups with 'strong fundamentals' will survive: Vinod Khosla
Source: IANS
3/04/2023 10:03:02 AM
Indian startups have deposits of about $1 billion in Silicon Vally Bank, minister says Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank and the country's deputy IT minister said he had suggested that local banks lend more to them going ahead. California banking regulators shut down Silicon Valley Bank (SVB) on March 10 after a run on the lender, which had $209 billion in assets at the end of 2022. Depositors pulled out as much as $42 billion on a single day, rendering it insolvent. The U.S. government eventually stepped in to ensu...
Indian startups have deposits of about $1 billion in Silicon Vally Bank, minister says
Indian startups have deposits of about $1 billion in Silicon Vally Bank, minister says
Source: Reuters
17/03/2023 12:30:25 PM
Silicon Bank Vally saga: Recur Club allocates $15 mn to fund payroll for affected Indian startups Fintech platform Recur Club on Sunday said it has allocated $15 million in financing within 48 hours, to fund payroll and immediate short-term expenses without diluting equity to all Indian startup founders affected by the Silicon Valley Bank (SVB) collapse. To further bolster and support the ecosystem, Recur Club will not charge any platform fees. "This incident tells us about the criticality of diversification, be it customers, banking, or investors in a business. Recur Club has ...
Silicon Bank Vally saga: Recur Club allocates $15 mn to fund payroll for affected Indian startups
Silicon Bank Vally saga: Recur Club allocates $15 mn to fund payroll for affected Indian startups
Source: IANS
12/03/2023 5:39:00 PM
Indian startups must tap $430 bn digital market in Southeast Asia The total digital economy of Southeast Asia (SEA), which stands at $210 billion, is expected to grow at 15 per cent compound annual growth rate (CAGR) to reach $430 billion and Indian startups looking to expand overseas should consider Southeast Asia, a report showed on Monday. The population of over 650 million and 70 million SMEs in Southeast Asia are rapidly becoming more affluent and digitally savvy, creating a high demand for innovative products and services. "It's an idea...
Indian startups must tap $430 bn digital market in Southeast Asia
Indian startups must tap $430 bn digital market in Southeast Asia
Source: IANS
6/03/2023 11:46:16 AM
Startup founders find it difficult to raise funds, investors step back The economic turbulence of 2022 has entered 2023, even getting worse, and startup founders are finding it all the more difficult to raise funds amid the global macro-economic conditions. Amid a deepening funding winter, only 53 per cent of startup founders had a positive fundraising experience (71 per cent of those who attempted to raise) in 2022, down from 92 per cent in 2021. Startup founders expect this year to be challenging, with 58 per cent of founders expecting a tough fundraisin...
Startup founders find it difficult to raise funds, investors step back
Startup founders find it difficult to raise funds, investors step back
Source: IANS
4/03/2023 5:26:51 PM
Sequoia India and Southeast Asia's Surge to empower 12 new startups Credit rated banks in India are well placed to transition to the expected credit loss approach under the International Financial Reporting Standard 9 (IFRS 9) which is more forward looking, said S&P Global Ratings. "We believe IFRS 9's more forward-looking approach to provisioning will improve the timeliness of loan-loss provisions, more closely align reporting with global norms, and facilitate regulatory oversight that should help to mitigate disclosure complexities," S&...
Sequoia India and Southeast Asia's Surge to empower 12 new startups
Sequoia India and Southeast Asia's Surge to empower 12 new startups
Source: IANS
1/03/2023 4:19:11 PM
Consumer demand to stay low, tough times ahead for Indian startups Consumer demand is expected to stay low over the coming quarters, as inflation continues to rise, creating a further slowdown phase for the startups in the country, a new report has said. There is an ongoing risk of further escalation in the war on Ukraine and the current wheat crop being impacted by hot weather conditions, according to market research firm Redseer Strategy Consultants. Consumer perception of the general economic condition continues to be pessimistic as per the Reserve ...
Consumer demand to stay low, tough times ahead for Indian startups
Consumer demand to stay low, tough times ahead for Indian startups
Source: IANS
27/02/2023 11:43:11 AM
Crest raises over Rs. 6.5 crores from IAN, IPV and founders of Delhivery, Pickrr, Shiprocket amongst others The funds will be used to expand Crest’s product offerings, scale operations and onboard more brands faster. Bangalore based Automated Inventory Planning SaaS startup Crest raised 800K USD in its pre-seed funding round, led by IAN and IPV. The round also saw participation from 888vc, Faad Network, PointOne Capital and notable founders of companies viz. Delhivery, Shiprocket, Pickrr, Smytten, Samosa Party, and Sirona among others. “Crest is built for D2C e-commerce and is foc...
Crest raises over Rs. 6.5 crores from IAN, IPV and founders of Delhivery, Pickrr, Shiprocket amongst others
Crest raises over Rs. 6.5 crores from IAN, IPV and founders of Delhivery, Pickrr, Shiprocket amongst others
Source: PR Agency
23/02/2023 3:04:28 PM
Howdyy partners with Zepto to offer 10-minute delivery on Electric Vehicle Howdyy, India’s biggest SaaS-enabled and sustainable last-mile delivery startup, today announced its strategic association with homegrown e-grocery service Zepto for last-mile deliveries. The association aims to promote eco-conscious deliveries to help Zepto deliver orders to its customers in under ten minutes.   While the pilot began a few months ago in three cities- Bangalore, Delhi, and Mumbai; the project's success has strengthened the association's foundation suc...
Howdyy partners with Zepto to offer 10-minute delivery on Electric Vehicle
Howdyy partners with Zepto to offer 10-minute delivery on Electric Vehicle
Source: PR Agency
21/02/2023 12:32:12 PM
India Can Become World Leader in AI & ML: TRAI Chairman Dr. P D Vaghela India has a demographic advantage in IT talent and a fast-growing start-up culture that can be used to its utmost potential for the country to become a world leader in AI and ML. Dr. P D Vaghela, Chairman, Telecom Regulatory Authority of India (TRAI), said this at the 17th India Digital Summit (IDS 2023), being organized here by the Internet and Mobile Association of India (IAMAI), in association with Google and MessageBird, on February 20-21, 2023. Quoting a PwC research, he said, ...
India Can Become World Leader in AI & ML: TRAI Chairman Dr. P D Vaghela
India Can Become World Leader in AI & ML: TRAI Chairman Dr. P D Vaghela
Source: PR Agency
20/02/2023 5:46:06 PM
Fundraising gets tougher, 2023 super challenging for startup founders: Report Amid a deepening funding winter, only 53 per cent of startup founders had a positive fundraising experience (71 per cent of those who attempted to raise) in 2022, down from 92 per cent in 2021, a report said on Wednesday. Founders expect this year to be challenging, with 58 per cent of founders expecting a tough fundraising environment, according to the report by InnoVen Capital, Asia's leading venture debt firm. Hiring is also expected to slow down with only 38 per cent of startup ...
Fundraising gets tougher, 2023 super challenging for startup founders: Report
Fundraising gets tougher, 2023 super challenging for startup founders: Report
Source: IANS
8/02/2023 5:19:21 PM
Unstop receives Amit Jain`s Rs.5 Cr `biggest offer` on Shark Tank India Unstop is an Early Talent Engagement & Hiring Platform that has come a long way since its humble beginnings in a college hostel room. Founded by Ankit Aggrawal, the startup is making a difference in the lives of talented individuals from untapped corners of the country. Talent can come from anywhere, but many students and early professionals may not have the same access to job opportunities as others. And that’s what Unstop is committed to - #GoingBeyondBoundaries and helping peo...
Unstop receives Amit Jain`s Rs.5 Cr `biggest offer` on Shark Tank India
Unstop receives Amit Jain`s Rs.5 Cr `biggest offer` on Shark Tank India
Source: PR Agency
7/02/2023 4:55:35 PM
Indian startups raised $1.2 bn in Jan, PhonePe & KreditBee lead Indian startups raised about $1.2 billion in January amid rough macroeconomic conditions and funding winter. According to data by Fintrackr, an arm of startup news portal Entrackr, growth-stage startups witnessed 22 deals worth $926 million in the first month of 2023. Early-stage startups received $265 million across 67 deals while 12 startups did not disclose transaction details. According to the report, the average deal size for early-stage startups was nearly $4 million. PhoneP...
Indian startups raised $1.2 bn in Jan, PhonePe & KreditBee lead
Indian startups raised $1.2 bn in Jan, PhonePe & KreditBee lead
Source: IANS
6/02/2023 10:46:17 AM
RazorpayX launches forex service for founders, to empower 1,000 startups RazorpayX, the business banking platform of fintech company Razorpay, on Monday announced its foray into a new product line called 'Forex Service for Startups'. With an annualised run rate of Rs 350 crore under this forex service to date, the company expects it to scale up by 3-4 times in the next financial year. Currently, forex transfers in India towards startup funding are riddled with several gaps, eventually taking up over 2 months in addition to a hefty late submission fee...
RazorpayX launches forex service for founders, to empower 1,000 startups
RazorpayX launches forex service for founders, to empower 1,000 startups
Source: IANS
30/01/2023 10:50:55 AM
Samsung-incubated startup TagHive dreams big in South Korea India Among the many startups founded and operating in South Korea, TagHive, an education technology company launched in 2017, is distinguished for its founder and CEO Pankaj Agarwal. Agarwal was born in a small town in northern India and studied at the prestigious Indian Institute of Technology in Kanpur. He started TagHive through Samsung Electronics Co's venture incubator programme, Creative Lab (C-Lab). "I've met some foreign startup business people in Korea, but I think I...
Samsung-incubated startup TagHive dreams big in South Korea India
Samsung-incubated startup TagHive dreams big in South Korea India
Source: IANS
30/01/2023 10:44:09 AM
Piyush Goyal calls for creation of network to strengthen global startup ecosystem Union Minister for Commerce and Industry, Piyush Goyal on Saturday called for creation of an international network of mentors, investors and entrepreneurs to strengthen the global startup ecosystem. The Minister said that this network must support and inspire startups, act as a team to facilitate exchange of ideas, best practices and funding mechanisms and promote collaborations in Research and Development. The Union Minister was addressing the inaugural session of the Inception Meeting...
Piyush Goyal calls for creation of network to strengthen global startup ecosystem
Piyush Goyal calls for creation of network to strengthen global startup ecosystem
Source: IANS
28/01/2023 5:33:15 PM
Investors of India's GoMechanic seek audit into 'inflated' financials Major investors of Indian car service and repair firm GoMechanic have ordered a probe after they were made aware of serious inaccuracies in the startup's financial reporting. The investors - Tiger Global, Sequoia Capital and Chiratae Ventures - have jointly appointed a third-party firm to investigate the matter in detail, they said in a statement. GoMechanic's co-founder Amit Bhasin, on Wednesday, admitted errors in the company's financial reporting in a LinkedIn post. &q...
Investors of India's GoMechanic seek audit into 'inflated' financials
Investors of India's GoMechanic seek audit into 'inflated' financials
Source: Reuters
19/01/2023 11:41:01 AM
VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups Z3Partners, a leader in tech and digital investment in India, on Tuesday said it has closed its latest fund at Rs 550 crore that will primarily invest in 8-10 early-growth, digital and tech startups, with a ticket size of Rs 50-80 crore. Leading global and domestic institutions and family offices, including HDFC Life and SIDBI, participated in the fund. Z3Partners said it has already made five investments in cybersecurity startup Cyfirma, social e-commerce firm DealShare, agri-tech plat...
VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups
VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups
Source: IANS
17/01/2023 11:11:14 AM
India`s startup economy stares at deepening funding winter in 2023  Indian startups, which saw a massive 35 per cent drop in funding in 2022 -- from $37.2 billion in 2021 to $24.7 billion (till November) -- are bracing themselves for a deepening funding winter in 2023 as recession fears loom. Although some startups, like fintech platform KreditBee ($200 million), Foodtech platform HealthKart ($135 million) and HRtech software-as-a-service (SaaS) platform BetterPlace ($40 million), raised decent funds in December last year and in the beginning of Janu...
India`s startup economy stares at deepening funding winter in 2023
India`s startup economy stares at deepening funding winter in 2023
Source: IANS
7/01/2023 10:24:11 AM
ISRO, Microsoft join hands to empower spacetech startups in India The Indian Space Research Organisation (ISRO) and Microsoft on Thursday announced a collaboration to fuel the growth of space technology startups in the country. Through this tie-up, the space tech startups identified by ISRO will be on-boarded onto the aMicrosoft for Startups Founders Hub' platform, that supports startups at every stage of their journey-from idea to unicorn. "ISRO's collaboration with Microsoft will greatly benefit space tech startups in their analysis and...
ISRO, Microsoft join hands to empower spacetech startups in India
ISRO, Microsoft join hands to empower spacetech startups in India
Source: IANS
5/01/2023 12:38:27 PM
Indian startups take 5 yrs to scale from zero to $100 mn The Indian startups are now taking around five years' time to scale from zero to $100 million in revenue, a report showed on Thursday. With the ecosystem maturing in the last decade, the time taken to reach the $100 million mark has decreased significantly. What took 18 years in 2000 to reach $100 million revenue has come down to five years, according to data by Redseer Strategy Consultants. There are about 100 unicorns and 170 soonicorns in India. Of these 270 shining stars, 40+...
Indian startups take 5 yrs to scale from zero to $100 mn
Indian startups take 5 yrs to scale from zero to $100 mn
Source: IANS
5/01/2023 10:04:57 AM
58% of government-recognised start-ups in 5 states; Maha tops list Nearly 58 per cent of the government-recognised start-ups are confined to just five states in the country. A total of 84,012 start-ups have been recognised by the government (as on November 30, 2022). However, the latest government data showed that nearly 60% of the total government recognized start-ups are from the states including Maharashtra, Karnataka, Delhi, Gujarat and Uttar Pradesh. While Maharashtra tops with 15,571 government recognised start-ups, states like Karnataka, Delhi, ...
58% of government-recognised start-ups in 5 states; Maha tops list
58% of government-recognised start-ups in 5 states; Maha tops list
Source: IANS
18/12/2022 9:43:35 AM
Karnataka takes bus yatra route to boost startup ecosystem Karnataka is literally hitting the roads to boost the startup ecosystem in the state. Karnataka Digital Economy Mission (KDEM) began a special bus yatra , titled 'the Start-up XPRESS', on Sunday from Bengaluru in preparation for the TiE Global Summit (TGS) 2022. The trip in association with TiE Bangalore, brings together startup founders and mentors/investors in a 12-hour journey that will end in TGS' host city, Hyderabad. "Our focus remains on making significant con...
Karnataka takes bus yatra route to boost startup ecosystem
Karnataka takes bus yatra route to boost startup ecosystem
Source: IANS
11/12/2022 5:23:57 PM
Indian startup winner of 1 million-pound Earthshot Prize Indian startup Kheyti, a pioneering solution for local smallholder farmers to reduce costs, increase yields, and protect livelihoods on the frontlines of climate change, was among five winners of The Earthshot Prize for their ground-breaking solutions of the greatest environmental challenges facing planet. Prince William and The Earthshot Prize revealed in Boston on Friday the 2022 winners -- an accomplished group of entrepreneurs and innovators spearheading groundbreaking solutions to rep...
Indian startup winner of 1 million-pound Earthshot Prize
Indian startup winner of 1 million-pound Earthshot Prize
Source: IANS
3/12/2022 2:35:29 PM
Indian agrifood startups get record $4.6 bn investment in FY22 Indian agrifood startups received a record $4.6 billion in investment in FY 2021-22, up 119 per cent year-over-year, as the country overtook China as Asia-Pacific's biggest funder of agrifood-tech innovation, a report showed on Wednesday. Farmtech startups raised $1.5 billion across 140 deals, a 185 per cent year-over-year increase, according to the report by VC firms AgFunder and Omnivore. Restaurant marketplaces and e-grocery startups secured close to $3 billion, around 66 per cen...
Indian agrifood startups get record $4.6 bn investment in FY22
Indian agrifood startups get record $4.6 bn investment in FY22
Source: IANS
30/11/2022 2:08:06 PM
Startups mentored by IIT-K, other showcased Startups mentored under the Social Innovation Lab by Citi, a collaborative initiative among Indian Institute of Technology (IIT) Kanpur, Citi and T-Hub, presented their disruptive AgriTech, HealthTech and FinTech solutions to over 100 industry stakeholders at a startup showcase held to accelerate their social sustainable development solutions to market. According to an official IIT-K release, more than 30 business discussions and over 20 investment discussions have been initiated as a resu...
Startups mentored by IIT-K, other showcased
Startups mentored by IIT-K, other showcased
Source: IANS
29/11/2022 3:15:05 PM
Tech summit looks `Beyond Bengaluru` to achieve 10K startups goal by 2030 Even as the Bengaluru Tech Summit celebrates its 25th anniversary, the Karnataka government is looking beyond the capital city and moving aggressively to position emerging tech clusters from across the state on the digital global map. Concerted efforts to drive anchor industries across the three clusters in Phase 1 with the help of the industry and academic partners are underway. The 'Beyond Bengaluru' strategy envisages Mysuru as the hub for cybersecurity and ESDM, Hubballi-Dha...
Tech summit looks `Beyond Bengaluru` to achieve 10K startups goal by 2030
Tech summit looks `Beyond Bengaluru` to achieve 10K startups goal by 2030
Source: IANS
19/11/2022 10:02:03 AM
Bengaluru Tech Summit: Booster Kit initiative launched to facilitate startups` growth C.N. Ashwath Narayan, Karnataka Minister for IT/BT, launched the 'Booster Kit' initiative on Friday which aims to support the growth of startups in the state. As part of the initiative, the government inked nine MoUs at the Bengaluru Tech Summit 2022 with ecosystem partners, which included Google, Paytm, HDFC, RazorPay, Microsoft, The GAIN, Dayanand Sagar Entrepreneurship Research and Business incubation, AWS Activate and StrongHer Ventures. On behalf of the government, the offi...
Bengaluru Tech Summit: Booster Kit initiative launched to facilitate startups` growth
Bengaluru Tech Summit: Booster Kit initiative launched to facilitate startups` growth
Source: IANS
19/11/2022 9:49:24 AM