November 20, 2024
Rio Money, in collaboration with YES BANK and NPCI, has launched a UPI app alongside the YES BANK Rio RuPay Credit Card, aiming to integrate credit facilities with UPI transactions. This initiative seeks to enhance financial inclusion, particularly in Tier 2 and Tier 3 cities, by offering accessible and efficient digital payment solutions.
November 19, 2024
Bollywood star Ranveer Singh and entrepreneur Nikunj Biyani introduce 'SuperYou,' a protein food brand revolutionizing snacking in India. Featuring the country’s first protein wafer bar, SuperYou offers 10 grams of protein, zero added sugar, and bold flavors. Backed by Think9 Consumer, the brand aims to make health-focused nutrition accessible and enjoyable.
November 18, 2024
WTFund and Nazara Technologies have invested ₹2 crore in Indian gaming startups Norian Games and Xigma Games. Led by visionary founders, these studios are redefining Indian gaming with immersive titles like Aldian of Ancients and Rubek. This funding marks a milestone, showcasing the rising global potential of India’s gaming industry.
November 18, 2024
TagZ Foods, renowned for its air-popped, guilt-free snacks, has been acquired by Reliance Retail for ₹28 crore. From its Shark Tank India debut to redefining snacking, TagZ’s journey exemplifies startup success. With Reliance’s backing, the brand is set to expand its reach, driving a healthier snacking revolution in India.
November 15, 2024
Leo Capital has led a $3 million funding round in Zeplyn, a SaaS startup focused on enhancing enterprise efficiency. This investment highlights growing venture interest in SaaS solutions that streamline operations and drive productivity. With the new funding, Zeplyn plans to accelerate product development and expand its market reach, catering to businesses seeking digital solutions for optimized workflows.
November 14, 2024
Ennoventure, a brand protection startup, has raised $8.9 million in Series A funding led by Tanglin Venture Partners. Using AI and blockchain, Ennoventure’s invisible signature technology allows for quick product authentication through simple scans. Already active in industries like pharma and FMCG, the startup aims to enhance its platform and expand its global reach, offering brands a powerful defense against counterfeiting in today’s fast-paced market.
November 13, 2024
Funstop Games, a prominent gaming studio, has raised $5 million in a Series A funding round led by 360 ONE Asset, with participation from InfoEdge Ventures. Founded in 2020 by Prashanth Vijay and Tamesh Sharma, the company has generated $4 million in revenue and developed over 30 games. Popular titles such as Airport Rush and Perfect Time have driven the studio’s success, amassing over 75 million downloads and contributing to a global total of 100 million. With new funding, Funstop aims to enhance its ad-tech capabilities, expand its game portfolio, and focus on the spiritual gaming segment to bring Indian storytelling to a global audience.
November 12, 2024
Odisha-based startup Bon V Aero has launched Air Orca, India’s first fully autonomous logistics drone, to revolutionize logistics and emergency response. Capable of carrying a 30 kg payload, Air Orca operates efficiently in extreme terrains, outperforming helicopters at high altitudes like Umling La. Backed by venture capitalist Tim Draper, the drone is designed for diverse applications across healthcare, e-commerce, military, and disaster management.
November 12, 2024
Wheelocity, a Chennai-based startup, has pivoted to rural e-commerce, targeting India’s underserved semi-urban and rural markets. Founded by Selvam VMS in 2021, the company uses a unique “phygital” model, combining an app with a fleet of 1,000 electric vehicles for daily doorstep deliveries. Operating in 3,500 villages, Wheelocity plans to expand to 20,000 villages across southern India, aiming to reach 10 million consumers. Backed by Lightspeed, the startup recently raised $15 million to scale its operations and grow its electric fleet.
November 11, 2024
Equal, a Hyderabad-based startup, has raised $10 million in Series A funding to tackle India’s rising cyber fraud. Co-founded by Keshav Reddy and Rajeev Ranjan, Equal offers identity verification and financial data-sharing solutions, serving major clients like SBI, HDFC, and Reliance Jio. With over 350 customers, the startup plans to scale its operations and expand its product offerings.
November 11, 2024
Starkenn Technologies, founded in 2022 by brothers Sumedh Badve and Swastid Badve, is revolutionizing vehicle safety in India with its Advanced Driver Assistance Systems (ADAS). The Pune-based startup offers solutions like Brake-Safe, Attention, and Stark-I, which enhance driver safety and reduce accidents. Recognized by the DPIIT, Starkenn has deployed its technology in over 2,500 vehicles, serving industries such as mining and logistics. The company plans to expand its reach in the commercial fleet and logistics sectors, aiming to become a leading indigenous ADAS provider.
November 8, 2024
Delhi-based startup Enlog has raised ₹1.75 crore in a funding round led by Vinners to expand its AI-powered energy management and IoT solutions. Founded in 2019 by Bharath Rankawat and Jharna Saha, Enlog helps businesses optimize energy use and reduce carbon footprints. With over 15,000 users and key partnerships in sectors like hospitality, Enlog plans to expand to major Indian metro cities and triple its revenue by 2025.
November 8, 2024
EMotorad, India’s leading e-mobility brand, has surpassed its FY24 domestic sales in the first half of FY25, with September 2024 marking its highest-ever monthly revenue. The company’s growth is fueled by strategic expansion, including 12 new experience stores and partnerships with over 550 dealers nationwide. EMotorad is on track to achieve over 200% year-on-year growth, reflecting the rising demand for sustainable mobility solutions.
November 7, 2024
Indian startups are optimistic about stronger US-India business ties and increased funding under Trump’s presidency. His anti-China stance may divert US investments toward India, benefiting sectors like AI and semiconductors. However, concerns remain over inflationary impacts and potential rate hikes. With JD Vance as Vice President, the startup ecosystem expects a supportive stance for tech growth and innovation
November 7, 2024
MOOEV Technologies, an electric vehicle startup, has raised ₹4 crore in seed funding led by Bizdateup, with support from Inflection Point Ventures and Spectrum Impact. Founded in 2021, MOOEV focuses on electrifying heavy-duty freight fleets, offering engineering and operational solutions. The funds will be used to deploy 15 electric trucks and expand high-voltage charging infrastructure. Based in Chennai, the company is collaborating with major corporates and plans to grow its EV Fleet-as-a-Service and EV Charge-as-a-Service offerings.
November 6, 2024
GalaxEye, an Indian space tech startup, has raised $10 million in Series A funding, supported by strategic investors including MountTech Growth Fund - Kavachh, chaired by former Defence Secretary Ajay Kumar. Founded in 2021, GalaxEye is preparing for the 2025 launch of its first multi-sensor satellite to advance Earth observation and disaster monitoring. The funding will bolster GalaxEye’s operations, as India’s private space sector continues its record-breaking growth.
November 21, 2024
Marut Dronetech, a Hyderabad-based drone startup, has raised $6.2 million in Series A funding from Lok Capital. Founded in 2019, Marut focuses on using drones for agriculture, healthcare, and rural development. The funds will be used to develop advanced agricultural drones, expand service centers in Tier 2 and 3 cities, and establish Drone-as-a-Service hubs. Marut aims to scale its operations, with a five-year revenue target of ₹1,000 crore and plans to manufacture 3,000 drones annually, supporting its mission to drive sustainable growth and entrepreneurship in rural India.
November 5, 2024
Hala Mobility, a Hyderabad-based EV-as-a-service startup, has raised ₹51 crore in a pre-Series A round led by its founders and notable investors. Founded in 2020, Hala provides EV management solutions primarily for e-commerce and gig workers. The new funding will drive expansion into six additional cities and the deployment of 10,000 electric vehicles by next year, furthering Hala’s mission to support sustainable urban mobility across India.
November 5, 2024
The Samarth 2024-25 Workshop, organized by Pusa Krishi and the Ministry of Agriculture and Farmers Welfare, aims to empower India’s agri-business incubators. Scheduled for November 6-7 at NASC Complex, New Delhi, the workshop brings together Knowledge Partners, industry leaders, and policymakers to support RKVY RAFTAAR incubators. Through focused sessions and collaboration, the event will equip incubators with essential resources to drive sustainable innovation and growth in India’s agricultural sector.
November 4, 2024
India's food and grocery delivery giant, is set to go public on November 6, aiming for an $11.3 billion valuation—a decrease from prior estimates. This IPO arrives amid mixed investor sentiment, with a grey market premium trading at a modest 5% above the price band. Swiggy aims to raise ₹11,327 crore, blending fresh equity with an offer-for-sale from key backers like Accel and Tencent. Institutional support is strong, with major investors, including Norway’s sovereign wealth fund, showing substantial interest. Despite financial losses in FY24, Swiggy’s expansion into groceries and other services is driving long-term investor confidence.
November 4, 2024
KiranaPro, a quick commerce app focused on empowering local kirana stores, has raised an undisclosed pre-seed funding round with backing from Unpopular Ventures, Blume Founders Fund, Snow Leopard Ventures, and angel investors. This investment supports KiranaPro's mission to bring rapid, hyperlocal ten-minute delivery services to customers across India, helping small retailers compete with e-commerce giants. By establishing dedicated ONDC-powered counters in supermarkets, KiranaPro aims to boost customer experience and strengthen local business reach. The new funding will drive enhancements in technology, operational infrastructure, and expansion of their quick delivery network.
October 31, 2024
Karnataka’s IT Minister, Priyank Kharge, recently launched ELEVATE 2024 and KAN to empower startups with seed funding and acceleration support. ELEVATE 2024 offers up to Rs 50 lakh in grants for early-stage startups, while KAN provides mentorship and market access, especially for companies outside Bengaluru. Designed to foster innovation, these programs support growth in sectors like AI, IoT, and SpaceTech, positioning Karnataka as a major startup hub. Applications for ELEVATE 2024 are open until November 29 via missionstartupkarnataka.org.
October 31, 2024
The Women ICT Frontier Initiative (WIFI), in collaboration with Sri Padmavati Mahila Visvavidyalayam (SPMVV) and UN-APCICT, empowers Indian women entrepreneurs with vital ICT skills. Since its 2018 launch, WIFI has transformed women-led businesses through digital marketing training and resources. This recent program highlighted inspiring success stories, including eco-friendly products by Feminy Enterprises, home hydroponics from Shudh Green, and saffron cultivation by Purple Springs, showcasing the initiative’s impact on financial independence and digital expansion for women entrepreneurs across India.
October 29, 2024
TedTech Traders, founded in 2019 in Vasai, Mumbai, has rapidly transformed from an online LED seller to a pioneer in LED home decor, merging technology with traditional designs. After observing customers’ desire for authentic diya experiences, TedTech introduced the Water Sensor Diya, which activates when filled with water. With patented products like the LED Lotus Reflection Diya and 3D Reflection Water Sensor Diya, TedTech has expanded to seven countries and recently launched app-controlled LED panels. As a certified ISO 9001:2015 company, TedTech continues to deliver innovative, affordable lighting solutions, staying committed to quality and local manufacturing.
October 29, 2024
Arya.ag, a Noida-based agritech platform, has secured a $19.8 million debt facility from the U.S. International Development Finance Corporation (DFC) to expand its market linkage capabilities, connecting farmers and farmer-producer organizations (FPOs) with buyers. This new funding follows a recent $29.2 million investment round and supports AryaTech, Arya.ag’s subsidiary, in creating a secure, transparent agricultural marketplace. With a vast network of over 12,000 warehouses across 60% of India’s districts, Arya.ag leverages technology to manage inventory and reduce risks, furthering its mission to drive economic growth in underserved regions.
October 28, 2024
The Tata Group is launching Neu Flash, an ultra-fast delivery service aimed at addressing rising customer demand in major metropolitan areas. Initially available to select users, Neu Flash will offer products across groceries, electronics, and fashion, leveraging Tata’s brands like BigBasket, Croma, and Tata Cliq. This entry marks Tata's strategic move into the highly competitive quick commerce sector, where players like Blinkit, Swiggy Instamart, and Zepto currently dominate. Tata may further integrate 1mg and Croma’s retail network for seamless 10-20 minute deliveries, focusing on a conservative incentive approach in a fast-growing market segment.
October 28, 2024
COOX, a home services booking platform, has raised $125,000 in Seed funding from Inflection Point Ventures to support its expansion to 40 cities, boost marketing efforts, and incorporate AI for enhanced operations. Founded by Akshat Gupta, Abhishek Gupta, and Rajat Johri, COOX offers services such as professional chefs, domestic cooks, bartenders, and event decoration for various gatherings. Since its 2019 launch, COOX has served over 5 lakh customers and onboarded more than 3,000 trained professionals, driving innovation in home services and creating gig opportunities in the hospitality sector. With the Indian food services market set to grow, COOX’s mission—“Hosts should enjoy as much as the guests”—positions it to meet rising demand for organized, tech-driven service solutions.
October 25, 2024
Three innovative startups—Live2.ai and NeuralGarage from India, and Creatively Squared from Singapore—have been named winners of the L'Oréal Big Bang Beauty Tech Innovation Program for the SAPMENA region. This achievement grants them the opportunity to pilot their solutions with one of L'Oréal's global brands, gain exposure across 35 international markets, and benefit from a year-long mentorship with industry leaders. The program, launched in May 2024, underscores L'Oréal's commitment to fostering personalized, inclusive, and sustainable beauty solutions. Aseem Kaushik, Managing Director of L'Oréal India, lauded India’s role as a hub of entrepreneurial talent, recognizing the innovative solutions emerging from its startup ecosystem.
October 25, 2024
Healthify, a health and fitness platform previously known as HealthifyMe, has secured $20 million in fresh funding as part of a larger $45 million equity round, led by Khosla Ventures and LeapFrog Investments. This new investment will fuel the company’s ambitious expansion into the U.S. market, where Healthify plans to bring its unique blend of AI-driven and human coaching to a broader audience. With a total of $125 million raised to date, Healthify’s latest funding round marks a key milestone in its mission to make personalized health coaching accessible worldwide. Founded by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, the platform already serves over 40 million users across India and offers corporate wellness solutions through partnerships in diagnostics, insurance, and pharmaceuticals.
October 24, 2024
Avaana Capital has closed its $135 million Climate and Sustainability Fund to invest in early-stage startups developing innovative climate solutions. The fund focuses on three critical areas contributing to 90% of India’s carbon emissions: energy and resource management, mobility and supply chains, and sustainable agriculture. With backing from global investors like the Green Climate Fund, Avaana seeks to accelerate India's transition to a net-zero economy by 2070, supporting scalable climate technologies in India and beyond.
October 23, 2024
Groww’s $160M tax payment as it shifts its headquarters from the U.S. back to India signals a larger wave of startup relocations. Amid India’s booming IPO market and favorable regulations, many startups are choosing to return, driven by the promise of better growth opportunities and regulatory alignment.
October 23, 2024
Zomato is set to raise Rs 8,500 crore ($1 billion) through a Qualified Institutional Placement of shares to enhance its cash position as it competes with Swiggy and other quick commerce players. CEO Deepinder Goyal stressed that while capital alone cannot secure victory, it is crucial for maintaining a level playing field in a cash-intensive business. With competition intensifying and Swiggy’s upcoming IPO, Zomato aims to fortify its financial standing and continue scaling its operations.
October 23, 2024
Febi.ai, a cutting-edge platform for accounting and bookkeeping, has raised $2 million in its pre-Series A round, co-led by Lumis Partners, former JP Morgan executive Virender Rana, and Lenskart co-founder Amit Chaudhary. Additional investors include Padmaja Ruparel (Indian Angel Network), Rohan Bhargava (Cashkaro), and Rajat Jain (Fino Payments Bank). The funds will be used to boost Febi.ai’s AI capabilities for automating accounting and tax compliance, expand customer acquisition efforts, and grow its workforce. Founded in 2022, Febi.ai provides real-time insights to startups and medium-sized businesses, offering effective documentation management and compliance solutions. As part of India’s rapidly expanding AI sector, Febi.ai joins other startups leveraging AI to revolutionize financial operations.
October 23, 2024
Indian spacetech startup GalaxEye has teamed up with SpaceX to launch its first multi-sensor Earth observation satellite, Drishti, in 2024. The satellite will use Synthetic Aperture Radar (SAR) and Optical/Multispectral Imaging (MSI) to capture high-resolution images in all weather conditions. This marks the beginning of a five-satellite constellation, aiming to offer daily revisits and sub-1 meter resolution by 2025. The collaboration highlights India's growing presence in the global spacetech industry, aligning with the “Make in India for the World” initiative.
October 21, 2024
Optimized Electrotech, a deep-tech defense startup, has won the ADITI 1.0 iDEX-DIO Challenge organized by the Defence Space Administration, securing a record INR 25 crore grant from the Government of India. Recognized at DefConnect 4.0, the grant will help advance the company’s space situational awareness technology, contributing to India's defense modernization and the Atmanirbhar Bharat mission. Founded in 2017, Optimized Electrotech specializes in AI-powered surveillance solutions for defense and paramilitary forces, including border surveillance, aircraft tracking, and counter-drone measures.
October 17, 2024
Jay Hao, former CEO of OKX, has joined the Indian blockchain startup CIFDAQ as co-founder and COO. CIFDAQ is preparing to launch a centralized crypto exchange and wallet with a strong focus on cybersecurity and user trust. Hao emphasizes a frugal approach for sustainable growth, while CIFDAQ targets expansion into Southeast Asia and Africa. The startup plans to integrate gaming features, including NFTs and play-to-earn models, to enhance user engagement, setting itself apart in the competitive blockchain landscape.
October 16, 2024
The India-Kenya Innovation Nexus Partnership Charter, signed at IIT Hyderabad, aims to strengthen cross-border collaboration in innovation and entrepreneurship. The partnership, supported by the Japan International Cooperation Agency (JICA), focuses on startup incubation, knowledge exchange, and technology commercialization. Kenyan officials, led by Dr. Tonny Omwansa of KeNIA, explored India’s successful public sector-led innovation models, visiting hubs like IIT Hyderabad’s Suzuki Innovation Centre and T-Hub. This collaboration is expected to influence Kenya's policy framework and bolster its startup ecosystem.
October 16, 2024
Delhi-based D2C footwear startup Yoho has raised Rs 27 crore ($3.21 million) in its Pre-Series B funding round, led by Gulf Islamic Investments (GII). Founded by Ahmad Hushsham and Prateek Singhal, Yoho focuses on orthopedic, comfort-centric footwear designed to address common foot issues while blending style and performance. With this fresh capital infusion, the startup plans to enhance product innovation, scale its marketing efforts, and expand its offline retail presence in India’s growing $13.5 billion footwear market. The company previously raised Rs 20 crore in 2022 from high-profile investors like Rajeev Misra and Vijay Shekhar Sharma.
October 15, 2024
India’s drone sector is on the cusp of significant growth, with the government set to launch an improved Production-Linked Incentive (PLI) scheme tailored to startups and MSMEs. This initiative will address issues faced by smaller players, such as complex documentation and limited inclusivity, while offering increased financial support. The new scheme, with a proposed outlay of ₹1,000 crore, aims to encourage indigenous drone manufacturing, segment the market into civilian, defense, and counter-drone uses, and empower rural women entrepreneurs through programs like the Namo Drone Didi Scheme. This effort aligns with India’s Make in India vision and focuses on bolstering domestic innovation in both civilian and defense drone technologies.
October 15, 2024
Zomato is once again venturing into logistics with the revamped launch of Xtreme, its parcel delivery service. After suspending the service in July due to low demand, the food delivery giant is now refocusing Xtreme to align with its core strength—last-mile food delivery. Initially aimed at a broad logistics market, Xtreme 2.0 will now serve restaurants that manage their own orders but need high-quality delivery solutions. This move is part of Zomato’s ongoing strategy of experimentation, testing new business lines while staying anchored in its food delivery expertise. Will this pivot lead to lasting success? Only time will tell.
October 14, 2024
JSW MG Motor India has selected seven startups for its MG Developer Program Season 5.0, focusing on integrating AI with electric mobility. These startups will develop innovative solutions to transform the electric vehicle industry, with support from partners like AWS and Exicom.
October 14, 2024
Perceptyne, an AI-driven robotics startup, recently secured $3 million in seed funding co-led by Endiya Partners and Yali Capital, with participation from Whiteboard Capital. The funding will accelerate Perceptyne’s development of semi-humanoid robots designed for tasks like assembly and packaging in manufacturing environments. These advanced robots integrate AI, computer vision, and multi-modal sensing technologies to reduce the time it takes for manufacturers to implement automation solutions.
October 11, 2024
Amazon India has joined forces with Startup India, under the Department for Promotion of Industry and Internal Trade (DPIIT), to help Indian startups thrive through e-commerce. The partnership will provide eligible startups with access to Amazon’s marketplace, mentorship, and go-to-market support. Additionally, Amazon’s Saheli program will empower women entrepreneurs with tailored learning programs and access to a wide range of Amazon services. The collaboration also promotes the Bharat Startup Knowledge Access Registry (BHASKAR), aimed at fostering cooperation among key players in India’s startup ecosystem.
October 10, 2024
Ratan Tata, former chairman of the Tata Group, passed away at 86, leaving behind an unparalleled legacy in business and philanthropy. A visionary leader, Tata transformed the Indian conglomerate into a global powerhouse, spearheading landmark acquisitions like Jaguar Land Rover. Known for his humility and compassion, he was deeply admired for his contributions to society. Tributes from world leaders highlight his profound impact, ensuring his legacy will continue to inspire future generations across industries and borders.
October 9, 2024
Kunal Bahl, co-founder of Snapdeal and Titan Capital, joins Shark Tank India Season 4, replacing Zomato CEO Deepinder Goyal. Goyal exited due to Swiggy, Zomato's competitor, sponsoring the season and requesting his removal. Bahl brings his entrepreneurial expertise to the panel, joining Anupam Mittal, Aman Gupta, Namita Thapar, and Ritesh Agarwal. The new season, hosted by Sahiba Bali and Ashish Solanki, will stream on Sony LIV, adding fresh excitement for fans of the popular reality show.
October 8, 2024
Transition VC has launched India’s first energy transition startup accelerator, in collaboration with T-Hub and IEEE, to support startups working in decarbonisation, energy storage, electrification of transport, and Net Zero technologies. With part of its ₹400-crore fund allocated to the initiative, Transition VC aims to incubate 7-8 startups, offering funding, R&D support, mentorship, and prototyping assistance. Co-founder Mohammed Shoeb Ali emphasized the importance of leveraging India's engineering expertise to reduce fossil fuel dependency. The accelerator aligns with the government’s energy transition goals, with two Centres of Excellence being established to drive innovation and sustainability efforts.
October 4, 2024
Homegrown electric vehicle (EV) mobility platform, ZEVO, has secured $2 million in pre-Series A funding led by Pegasus India Fund, with contributions from BizDateUp, JIIF, and a family office. The funds will be used to expand ZEVO’s fleet by 5,000 electric vehicles and establish fulfillment centers across India. The company also plans to extend its services to tier 2 and tier 3 cities, bringing sustainable mobility to underserved regions. Co-Founder Dhruv Bhatia shared that ZEVO is targeting an additional $20 million in funding by January 2025, aiming for 200,000 EVs on the road by 2030.
October 3, 2024
IG Drones, India's leading Drone Tech and AI company, has raised $1 million in its initial funding round led by India Accelerator and angel investors. The funds will support advanced R&D for defense applications, alongside plans for global expansion. With India's drone market expected to grow to ₹2.5 trillion by 2030, IG Drones is well-positioned to capitalize on this momentum. The company’s AI-powered Jaga drone and other innovations are transforming sectors like defense and agriculture. IG Drones has completed over 500 projects, partnered with the Indian Army, and trained 50,000+ youth. With expansion plans in five countries, IG Drones is set to lead the drone tech revolution globally.
October 1, 2024
Singapore-based ThinKuvate has made the first close of its Rs 100-crore India-focused fund, raising Rs 25 crore within four months. The fund targets early-stage startups, co-investing alongside top venture capital firms in sectors like healthtech, fintech, AI, and more. ThinKuvate has already invested in four startups, including Rosh.ai and Zippee, and plans to back 30-40 companies with Rs 1.5-4 crore investments. Over 50% of the fund’s investors are NRIs from countries such as Singapore, the US, and Australia, highlighting its global appeal.
September 30, 2024
During the week, 29 Indian startups raised $461 million, with 10 growth-stage startups securing $397.7 million. Whatfix led with $125 million, followed by M2P Fintech ($101.8 million), Qure.ai ($65 million), and others. Early-stage startups raised $63.32 million, with Nurix AI leading the pack. Bengaluru dominated city-wise funding, while AI startups led in sectors. Seed funding led series-wise with 10 deals. Several new funds were launched, including a ₹200 crore fund by Optimistic Capital. Key hirings and acquisitions also shaped the ecosystem, alongside layoffs at PayU Finance.
September 27, 2024
Bengaluru-based online education platform Seekho is on the verge of closing a $10 million Series A funding round, co-led by Lightspeed and Elevation Capital. Founded in 2020 by Rohit Choudhary, Keertay Agarwal, and Yash Banwani, Seekho offers diverse, short courses designed to make learning accessible to a wide audience, including tier-II cities. Valued at around $45 million, the platform has attracted strong investor confidence, with Elevation Capital now holding a 24% stake. The funding will enable Seekho to further expand its reach and impact in the online education space.
September 26, 2024
Proptech startup Flent has secured Rs 6.5 crore in a pre-seed funding round led by WEH Ventures, with participation from 2 AM Ventures, Pareto Holdings, and prominent angel investors. The funds will help expand its core team and enhance its renting platform, which aims to simplify the rental process for India’s working professionals. Co-founded by Shail Daswani, Mayank Lalwani, and Rishabh Agnihotri, Flent has seen rapid success with its flagship product, Flent Reserve, offering turnkey, fully furnished homes with flexible stay options. Since launching in October 2023, the startup has achieved 100% occupancy across its Bengaluru properties and has a waitlist of over 500 people.
September 25, 2024
Visa processing platform Atlys has raised $20 million in its Series B round, co-led by Peak XV Partners and Elevation Capital, with participation from DST Global and Headline. The funding will drive Atlys' global expansion, product development, and entry into new markets. The three-year-old startup streamlines visa processes, reducing rejection rates and processing times to just 55 seconds. Atlys handles over 30,000 visa applications monthly, with India contributing 60%. Founder Mohak Nahta highlighted the company's 20x growth and the critical need for seamless visa processing amid India’s rising outbound tourism.
September 24, 2024
Medtech startup Qure.ai has secured $65 million in Series D funding, co-led by Lightspeed Venture Partners and 360 ONE Asset Management. The funds will be used for expanding into new markets, improving AI models, and supporting acquisitions. Founded by Prashant Warier in 2016, Qure.ai leverages AI for rapid diagnostics in medical imaging, detecting conditions like brain trauma and chest diseases. With AI playing an increasing role in healthcare, India’s medtech sector is evolving through digital health innovations, AI integration, and wearable technology advancements.
September 20, 2024
Infosys has announced a $2 million investment in Indian Earth-observation startup GalaxEye Space as part of its Series A round. This partnership aims to enhance satellite data fusion, AI-driven analytics, and next-gen space technologies. GalaxEye, founded by Suyash Singh and his IIT Madras colleagues, is set to launch the world’s first multi-sensor Earth-observation satellite in 2025. The satellite, equipped with synthetic aperture radar and multispectral sensors, will offer unique capabilities for the Indian Armed Forces, including low-light surveillance and camouflage detection. The Infosys investment follows GalaxEye’s recent $6.5 million Series A funding.
September 18, 2024
Schmooze, an AI-powered dating platform, raised $4 million in its Series A round led by Elevation Capital, with angel investors from UltraHuman, The Souled Store, Mosaic Wellness, and Paytm. Founded by Vidya Madhavan and Abhinav Anurag, Schmooze matches users based on personality and humor through memes, moving away from appearance-based dating. In 10 months, the platform has gained over 1 million users and boasts a 3x better female-to-male ratio than mainstream apps. Schmooze’s AI evolves with each interaction, offering quirky match insights and enhancing user storytelling. Beyond dating, it tackles Gen Z’s loneliness through features like Roast AI and Rant AI, creating more meaningful connections.
September 18, 2024
AWS has selected seven Indian generative AI startups for its Global Generative AI Accelerator program, the largest group from any Asia-Pacific country. Startups like Convrse, House of Models, and Neural Garage will receive up to $1 million in AWS credits, technical support, and mentorship. This initiative will help them scale globally using AWS's AI infrastructure, including tools like Amazon SageMaker and AWS Trainium. These startups will also present their innovations at the re
event in Las Vegas, providing opportunities for global exposure and investor connections.
September 16, 2024
The government has launched 'Bhaskar', a digital platform aimed at enhancing India's startup ecosystem under the Startup India initiative. Led by the DPIIT, BHASKAR will centralize resources and foster collaboration among startups, investors, mentors, and service providers. The platform aims to create the world’s largest digital startup registry, providing personalized IDs for easier networking, searchability, and discovery of opportunities. This initiative aligns with India’s goal of becoming a global leader in innovation and entrepreneurship, supporting over 1,46,000 DPIIT-recognised startups.
September 6, 2024
The Hosteller, an Indian backpacker hostel chain, raised $4 million in a Series A round led by V3 Ventures, valuing the company at Rs 200 crore ($25 million). Founded in 2014, The Hosteller operates in over 60 locations, offering affordable lodging and immersive travel experiences. The funds will support expansion to 150+ locations within 24-30 months. For FY 2024, the startup reported Rs 55 crore in revenue with positive margins. CEO Pranav Dangi highlighted their tech concierge Glu, while CFO Saksham Khemka noted 4x growth over the past three years, with plans to add 50 properties by year-end.
August 8, 2024
Gurugram-based startup Kindlife, which specializes in skincare, beauty, and wellness products, has secured $8 million in a Series A funding round led by JB-Dooeun TK Fund and MIXI Global Investments. The round also saw participation from existing investor Kalaari Capital and several angel investors. This follows a $2.5 million seed round in November 2021. Founded by Radhika Ghai, Vidit Jain, and Manasa Garemella, Kindlife leverages AI technology to offer personalized beauty routines for Gen Z consumers. The platform also features an influencer community promoting the latest K-beauty trends. The newly raised capital will be used to enhance Kindlife’s market presence in India, focusing on premium Korean and Japanese beauty brands, while strengthening its distribution network and content-driven approach.
August 6, 2024
Boeing has opened applications for the fourth edition of its Boeing University Innovation Leadership Development (BUILD) programme for 2024-25, targeting university graduates and early-stage startup entrepreneurs in India. This year’s launch event featured 40 angel investors and venture capitalists reviewing startup ideas from past winners, offering significant exposure and investment opportunities. Boeing continues its collaboration with seven Indian incubators, including IIT-Mumbai and IISc-Bengaluru, to support participants. Finalists will undergo boot camps, and winners, announced in January 2025, will receive grants of ₹10 lakh each. The last date for applications is October 15, 2024, with further details available on Boeing's official website.
August 5, 2024
Antler India plans to double its investments in 2024, utilizing a ₹600 crore ($75 million) India-focused fund that was closed earlier this year. The firm has already invested in 63 startups and aims to support 100-120 more by the end of the year. Antler India primarily focuses on pre-seed ventures and operates independently from its Singapore-based global entity. Recently, the firm led an $11 million pre-Series A funding round in Bengaluru's ride-hailing startup, Namma Yatri. This investment aligns with Antler India's strategy to back startups building digital public infrastructure. In addition to digital infrastructure, Antler India is sector-agnostic, with a specific interest in SaaS, fintech, generative AI, and large networks like ONDC. The firm also benefits from its extensive global network, providing founders access to resources across 30 locations worldwide.
August 1, 2024
Vaanam, the first private space tech accelerator in India, was launched in Chennai to bolster the space startup ecosystem in Tamil Nadu. Spearheaded by entrepreneurs Hariharan Vedamurthy and Sameer Bharat Ram, the accelerator aims to support startups with mentorship from former ISRO scientist Nambi Narayanan. The initiative was inaugurated by Tamil Nadu industries minister TRB Raaja, highlighting the state's commitment to advancing space technology. With plans to establish a propellant park and a second rocket launchpad in Thoothukudi, Tamil Nadu is positioning itself as a hub for space innovation. Minister Rajaa emphasized the state and central government's support for space tech startups, highlighting the significance of accelerators in funding and development. Narayanan underscored the need for private sector involvement and proposed an Asian Space Agency to foster interplanetary travel and enhance trade relations in the region.
July 30, 2024
YourStory’s Tech30, a highlight of the TechSparks event, is calling for applications for its 2024 cohort. This initiative identifies and showcases India’s top 30 most promising tech startups, offering them a platform to demonstrate their innovation and potential. Past Tech30 alumni include industry disruptors and unicorns such as Freshworks and Chargebee, reflecting the high caliber of startups recognized through this program. Selected startups will benefit from exclusive exposure at TechSparks Bengaluru 2024, taking place from September 26 to 28. They will have the opportunity to present their ideas, connect with potential investors, and network with industry experts and mentors. Applying for Tech30 offers a chance to join a prestigious group of emerging leaders and gain significant traction in the tech ecosystem.
July 29, 2024
CRED, a leading Indian fintech startup, has introduced CRED Money, a new feature designed to consolidate and analyze users' financial data across multiple bank accounts. This tool provides a unified dashboard for tracking transactions, recurring payments, and investments, while offering reminders and categorization options to streamline financial management. Leveraging India's account aggregator framework, CRED Money enhances transparency and user control over personal data. Although the feature is not monetized, it uses advanced data science algorithms to deliver actionable insights, helping users identify spending patterns and optimize their finances. This initiative reflects CRED's commitment to improving financial management for its affluent user base.
July 26, 2024
Covrzy, has received a direct broking license from the Insurance Regulatory and Development Authority of India (IRDAI). This significant milestone allows Covrzy to offer comprehensive business insurance solutions, enhancing its credibility and market reach. Covrzy's platform aims to simplify the insurance buying journey for startups and SMEs/MSMEs, addressing India's under-penetrated business insurance market. Co-founded by Ankit Kamra and Veera Thota in 2023, Covrzy has already onboarded over 500 clients and collaborated with top insurers like ICICI Lombard and Bajaj Allianz. The startup aims to support 10,000+ customers in the next 12-18 months, driving insurance penetration among Indian businesses.
July 25, 2024
The Indian Space Research Organisation (ISRO), in collaboration with IIIT Hyderabad's National Remote Sensing Centre (NRSC), has announced the AI for Space Immersion Startup Challenge. This initiative aims to nurture the next generation of space-tech pioneers through activities like ideation sessions, pitching rounds, industry talks, panel discussions, and mentorship. Dr. Srinivas K., Director of NRSC, emphasized the importance of collaboration to solve complex space and geospatial challenges. Participants can choose between the Startup Challenge for early-stage startups and established companies, or the Student/Research Challenge for researchers and students. The event offers funding opportunities, industry exposure, networking, and collaboration with ISRO scientists and industry leaders. Applications are open for visionaries to submit proposals online.
July 25, 2024
T-Hub, India’s leading innovation ecosystem, has signed a Memorandum of Understanding (MoU) with BEYOND4, a Malaysian accelerator ecosystem, facilitated by the Indian ASEAN Startup Summit (IASS). This partnership will benefit startups in India and Malaysia by focusing on five key areas: cross-border collaboration, investment facilitation, business expansion support, innovation promotion, and knowledge exchange. Key dignitaries, including S T Rubaneswaran of BEYOND4 and Mahankali Srinivas Rao (MSR) of T-Hub, emphasized the importance of this collaboration in driving innovation and supporting startups in scaling globally. This partnership aligns with global efforts, similar to the EU Horizon 2020 initiative and Singapore-Germany collaboration, to develop thriving startup ecosystems.
July 24, 2024
Kasturi Chitre, a renowned food scientist and quality assurance expert, has been appointed as a mentor for the MAARG program by Startup India. She will guide four innovative startups in the food and beverage sector, leveraging her nearly 15 years of experience. MAARG connects startups with industry veterans to foster growth through expert mentorship. Kasturi’s role is deeply fulfilling, allowing her to support the next generation of entrepreneurs. Her mentoring focuses on high-quality standards, technological advancements, and regulatory compliance. Her thought leadership and industry impact are well-documented, and her dedication to innovation and quality assurance in food science is widely recognized.
July 24, 2024
Finance Minister Nirmala Sitharaman announced a Rs 1,000 crore venture capital fund to boost India's space economy. The initiative aims to increase India's share in the global commercial space market to 10% by 2030, from the current 2%. This policy offers financial assistance, adding to the existing policy support and technical aid. (2) Lt. Gen. AK Bhatt (Retd.) of the Indian Space Association hailed the fund as crucial for space startups. Awais Ahmed of Pixxel and Srinath Ravichandran of Agnikul Cosmos praised the fund's impact, while Pawan Kumar Chandana of Skyroot Aerospace emphasized its role in capturing global market share.
July 24, 2024
India Accelerator has launched a new vertical to back cleantech businesses. This initiative supports startups focused on sustainability, waste reduction, energy efficiency, and climate change. Each startup will receive INR 1.5 Cr from the Finvolve Accelerator Fund and INR 4.1 Cr from the Finvolve Seed Fund. Finvolve, a joint venture of India Accelerator and Finolutions, aims to help wealth managers explore startup investments. The vertical will provide growth frameworks for clean energy, e-waste recycling, lithium-ion battery manufacturing, and biotechnology startups. India Accelerator's founder Ashish Bhatia emphasized redefining resource use and building a regenerative future. Managing Partner Deepak Nagpal highlighted the circular economy's potential, promoting responsible consumption and production.
July 23, 2024
India’s federal government has abolished the controversial “angel tax” for all classes of investors, marking a significant victory for the country's startup ecosystem. Introduced in 2012 to control money laundering, the tax had long burdened early-stage companies and their backers. Finance Minister Nirmala Sitharaman announced the removal during her budget speech, aiming to bolster the entrepreneurial spirit and support innovation. The abolition of the angel tax has been widely welcomed by the startup community, including entrepreneurs, investors, and venture capitalists. Siddharth Pai of 3one4 Capital called it a "watershed moment," while Amit Mehra of Lightspeed highlighted the reduction in tax-related uncertainty for startups. This move is expected to foster a more supportive investment environment, fueling innovation and growth.
July 19, 2024
Krutrim, founded by Ola's Bhavish Aggarwal, unveiled a new free tier for Ola Maps APIs on July 18, aiming to drive developer adoption. This move responds to Google's plan to reduce Google Maps platform rates by up to 70% in India from August 1, 2024. The free tier includes essential APIs like autocomplete and directions, complemented by upcoming releases of new APIs, SDKs, and features. Aggarwal highlights the initiative's goal of supporting Indian innovation and offering competitive pricing against global tech giants. Additionally, early adopters committing to long-term use will benefit from waived charges, reinforcing Krutrim's commitment to fostering local tech talent.
July 18, 2024
The Karnataka government, led by Siddaramaiah, paused the employment quota Bill for locals in the private sector after criticism from industry leaders and the public. The Bill proposed a 50% quota for administrative roles and a 75% quota for non-administrative roles. This followed a now-deleted post from Siddaramaiah announcing a 100% reservation for local Kannadigas in 'C' and 'D' grade roles. Industry leaders like Kiran Mazumdar Shaw criticized the Bill, arguing it would harm the IT sector. Facing pressure, Siddaramaiah clarified the Bill is still in preparation, with a final decision pending further discussion in the next cabinet meeting. The Bill needs Assembly approval to become law. Political analyst Sandeep Shastri linked the Bill to growing local protectionism. Pro-Kannada activists’ protests led to Bruhat Bengaluru Mahanagara Palike (BBMP) mandating 60% Kannada signage, sparking legal challenges.
July 18, 2024
ArcelorMittal announced the winners of its inaugural XCarb® India Accelerator Programme, selecting three startups for their climate technologies. Launched with IIT Madras, the programme received over 50 applications. The winners, UrjanovaC, AgroMorph Technosolutions, and Susstains Engineering Solutions, will each receive USD 50,000 and mentorship. UrjanovaC focuses on CCUS technology, AgroMorph Technosolutions creates algae-based CCUS systems, and Susstains offers biochar as a coal replacement for the steel industry. Irina Gorbounova, Head of the XCarb® Innovation Fund, praised the startups for their decarbonization potential. The programme supports ArcelorMittal’s climate goals and India's startup ecosystem. Winners expressed gratitude for advancing their technologies and business models. UrjanovaC’s CO2 management technology, AgroMorph’s algae-based solutions, and Susstains’ biochar production show promise in tackling carbon emissions in the steel industry.
July 17, 2024
Google, in collaboration with India's Ministry of Electronics and Information Technology (MeitY), has launched an initiative to train 10,000 startups in artificial intelligence. Announced at Google I/O Connect in Bengaluru, the program offers eligible startups up to $350,000 in Google Cloud credits, an AI-first programming curriculum, and a launchpad to expand their services. Google will provide access to its Gen AI models, Gemini and Gemma, along with language tools from Google DeepMind India to support services in local languages. Google also announced expanded access to powerful AI models like Gemini 1.5 Pro and Gemma 2, and plans to host a GenAI Hackathon and AI Startup Bootcamp in India. Additionally, Google has reduced fees for its Google Maps Platform and introduced the open-source AI model Gemma 2 to Indian developers.
July 16, 2024
The Indian government is set to launch AgriSURE to support agritech startups and agripreneurs. With an initial corpus of ₹750 crore, the fund will provide equity and debt investments to promote innovation and sustainability in agriculture. NABVENTURES, a subsidiary of NABARD, will manage the fund, which includes equal contributions from the Department of Agriculture and Farmers Welfare and NABARD. AgriSURE aims to strengthen the agricultural value chain, create rural infrastructure, and generate employment. It will support around 85 agribusiness startups, focusing on high-risk, high-impact activities. Additionally, NABARD launched the AgriSURE Greenathon 2024 to address key challenges like smart agriculture, agri-waste management, and regenerative agriculture through innovative solutions.
July 16, 2024
Yali Capital has launched an ₹810 crore venture fund, including a ₹310 crore greenshoe option, to support early-stage deep tech startups in India. Co-founded by Ganapathy Subramaniam, former CEO of Cosmic Circuits, and Mathew Cyriac, Executive Chairman of Florintree, the fund aims to invest in areas such as chip design, robotics, genomics, smart manufacturing, aerospace, and AI. Yali Capital's advisory team includes Lip-Bu Tan, former CEO of Cadence, known for taking over 130 deep tech companies to IPO globally. Tan expressed his eagerness to help create globally recognized deep tech companies from India. The fund has approved investments in four startups, finalizing by Q3 2024.
July 15, 2024
Hunar.AI, founded in 2022, has quickly become a leader in frontline and volume hiring through advanced AI and intelligent automation. The platform's solutions, including Find.AI, Engage.AI, and Hire.AI, address the complexities of high-volume hiring in industries with high attrition and skill gaps. By integrating with traditional ATS platforms, Hunar.AI enhances their functionality, streamlining the hiring process from sourcing to onboarding. Hunar.AI's impact is evident in sectors such as BFSI, E-commerce, logistics, retail, consumer goods, and energy. With multilingual communication and deep technology integration, the platform has driven exceptional outcomes, achieving 15X growth. Co-founded by Krishna Khandelwal and Dr. Shantanu Bhattacharyya, Hunar.AI aims to expand globally, setting new benchmarks for hiring efficiency.
July 15, 2024
IndusDC, committed to reducing 1 giga tonne of CO2 emissions by 2035, has earmarked Rs 100 crore for supporting tech startups in the industrial and energy sectors for FY25 and FY26. Aiming to launch five startups within two years and over 50 globally in a decade, each will receive up to Rs 20 crore from a mix of grants, equity, and debt. Founded by Kushant Uppal, Satyanarayanan Seshadri, and Kaustubh Hanmantgad, IndusDC has secured an investment from Mirik Gogri of Spectrum Impact. They're collaborating with IIT Madras on three hard-tech startups and planning to partner with other research institutes to harness intellectual properties for scalable ventures.
July 12, 2024
India's space technology is advancing with Bengaluru-based startup AkashaLabdhi, planning to launch "expandable space habitats" by 2027. Incubated at IIT Roorkee, AkashaLabdhi is developing these habitats for space tourists, astronauts, and researchers, emphasizing sustainable space living. The core project, Antariksh HAB, features an expandable shell for protection against orbital debris and radiation. It supports microgravity experiments, satellite maintenance, and long-term lunar exploration. CEO Siddarth Jena stated the habitat will take seven days to fully inflate in orbit. AkashaLabdhi is negotiating with SpaceX for a launch slot, highlighting India's technological prowess and potential for global space collaborations.
July 11, 2024
Investment firm 100X.VC is negotiating with four large corporates from Japan and Hong Kong to invest in early-stage Indian startups, as part of its corporate venture capital (CVC) initiative launched in August 2021. This initiative partners with Indian and international corporates to assist in making informed early-stage investment decisions. Notable partners include Panasonic and Pidilite Ventures, with Pidilite investing around $9 million in six startups through this collaboration. 100X.VC has invested in over 150 early-stage startups, including Data Sutram, Dezy, and Beyond Snacks. The firm’s CVC vertical operates independently from its venture capital operations, focusing on helping corporates strike profitable deals and identify acquisition targets. Founder and CFO Yagnesh Sanghrajka anticipates growing interest from CVCs in India's thriving startup ecosystem.
July 11, 2024
The Industrial Training Institute (ITI) at Dollygunj held a Startup Boot Camp, empowering over 100 students to transform their ideas into businesses. Organized by the Industries Department, the event focused on fostering entrepreneurship and innovation. Students learned about the Startup India scheme, startup procedures, and government benefits. Mr. Venkatesh Ch, Principal of ITI, emphasized the rewards of forming startups. Mrs. Sunitha Kumari, Assistant Director (Tech) at the Directorate of Industries, urged students to actively pursue their ideas. Unicorniz Innovations Pvt. Ltd. showcased their AR/VR software, enhancing the event's success. The boot camp concluded with a vote of thanks from Mr. Shahid Khan, marking the event as a resounding success.
July 10, 2024
In a significant move to strengthen the startup landscape across ASEAN nations, the Foundation for Innovation and Research Support (F.I.R.S.T) at IIT-Kanpur signed a Memorandum of Understanding (MoU) with the ASEAN Economic Forum. The signing ceremony occurred at the India-ASEAN ScaleHub Programme 2024 in Bali, Indonesia. This collaboration aims to enhance technology access, market opportunities, and business connections for startups in ASEAN countries. Funded by the Indian government through the ASEAN-India Science and Technology Development Fund, the India-ASEAN ScaleHub Programme is supported by the Department of Science and Technology and Ministry of External Affairs. It promotes India-ASEAN partnerships through innovation-driven activities, fostering economic ties, and sustainable development. The event gathered senior stakeholders and 40 startups, providing resources, mentorship, and opportunities for business expansion across ASEAN markets.
July 10, 2024
Tyre manufacturer Michelin, in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), has launched the AI Startup Challenge to foster innovation and entrepreneurship in India. Hosted on the Startup India portal, this 12-week challenge invites AI startups to showcase their capabilities. The top three startups will receive paid pilot projects from Michelin and opportunities for global contracts and incubation support. The AI Startup Challenge starts with outreach and applications in July 2024, followed by shortlisting and mentorship, culminating in a demo day in September 2024. Michelin India's Managing Director Shantanu Deshpande emphasized the company’s commitment to sustainability and innovation, anticipating active participation from Indian startups to create global solutions.
July 9, 2024
California-based Glean Technologies has opened its first office in Bengaluru, India, spanning 26,000 square feet. This new hub will centralize the company’s finance, sales, research and development, and business operations in India. Founded in 2019 by Arvind Jain, Vishwanath T R, Tony Gentilcore, and Piyush Prahladka, Glean Technologies is known for its enterprise search and knowledge management solutions that integrate company data across various platforms. Headquartered in Palo Alto, Glean has raised $350 million from top investors, achieving a valuation of over $2.2 billion. The company plans to expand its workforce from 150 to over 450 employees by next year, focusing on R&D in Bengaluru. Glean is also growing its APAC customer base through strategic partnerships with major enterprise firms.
July 9, 2024
Centriti, a B2B e-procurement platform, has secured Rs 6 crore in funding led by Emergent India Ventures, with participation from Atrium Angels, Alluvium Capital, Venture Garage, CoralBay Ventures, HOF, and Brigade Group. The funds will enhance tech capabilities, reduce service time, and expand into new geographies. Founded in 2022 by Daljeet Singh, Centriti uses mid-mile logistics, warehousing, and AI-driven inventory management to optimize costs and efficiency for hotels and restaurants. The Delhi-based startup collaborates with major brands like Taj Hotels, Oberoi Hotels, Accor Group, Barbeque Nation, and Chai Point. Currently operating in Delhi, Bengaluru, and Jaipur, Centriti plans to expand to Goa, Hyderabad, Kochi, and Chennai within two years. With a current monthly run rate of Rs 2 crore, the company aims to reach Rs 6 crore by December 2024, scaling up 10x in two years.
July 8, 2024
Ajay Kumar, former defence secretary of India, has launched Mounttech Growth Fund, a Rs 250 crore venture capital firm focusing on early-stage startups in defence, aerospace, and deeptech sectors. Approved by Sebi, the fund has received subscriptions worth Rs 280 crore and plans to use the green-shoe option for an additional Rs 250 crore. The fund’s first scheme is named Kavach, with Suryakant Dalmia of Dalmia Securities as the primary sponsor. Mounttech Growth Fund includes retired top armed forces officers as advisors and aims to capitalize on increased opportunities in defence and aerospace sectors, spurred by government initiatives like iDEX. The fund plans to make its first investment in the space sector soon and will collaborate with other VC firms and incubators at institutions like IIT Kanpur and IISc Bengaluru.
July 12, 2024
Raja Manickam, CEO of Tessolve, has launched iVP Semi, a fabless semiconductor startup, securing $5 million in Pre-Series A funding from undisclosed investors. The funds will be used to establish testing facilities and expand operations in India, with plans for chip design centers in Chennai and Bengaluru. iVP Semi aims to localize semiconductor chip production, enhancing technological autonomy for Indian companies. iVP Semi is collaborating with the Tamil Nadu government to set up a 20,000 sq. ft. “production test” facility in Chennai by October 2024 and plans a second unit in South India. The launch aligns with rising semiconductor demand, supported by government incentives, and aims to bolster India's position in the global semiconductor market.
July 5, 2024
Bengaluru India Nano aims to highlight the most innovative startups in Nanoscience and Nanotechnology. During the 13th event, these startups will present pioneering concepts, emphasizing Nanotechnology's crucial role in their products or services. This platform allows startups to showcase their ideas to industry leaders, research experts, policymakers, venture capitalists, and global startups. With over 700 delegates representing international organizations, the event offers invaluable exposure. The BIN-2024 Conference committee manages the selection process. Startups will connect with leading experts, mentors, top corporations, and investors. Eligible startups must be registered in India and less than 10 years old. Applications close on July 10, 2024.
July 4, 2024
After Unacademy laid off 250 employees, founder Gaurav Munjal reassured stakeholders on X, emphasizing the edtech company's projected growth and profitability. He refuted merger or sale rumors, focusing on long-term vision despite a challenging funding environment. The workforce has reduced from over 6,000 to under 2,000 due to restructuring efforts aimed at achieving sustainable growth. Munjal's clarifications followed a report suggesting Unacademy was seeking a merger or bailout. Support from business leaders like Ola's Bhavish Aggarwal and Oyo's Ritesh Agarwal reinforced Munjal's message. Founded in 2015, Unacademy has raised $877 million, last valued at $3.4 billion, focusing on profitability amid tough market conditions.
July 4, 2024
Indian social media platform Koo, which aimed to rival Elon Musk's X, is shutting down after failed acquisition talks with Dailyhunt. Despite raising over $60 million from investors like Accel and Tiger Global, Koo struggled to expand its user base and generate revenue. The founders, Aprameya Radhakrishna and Mayank Bidawatka, mentioned in a LinkedIn post that multiple partnership discussions did not yield the desired results. Koo initially gained traction by offering a platform for Indian users to express themselves in local languages during a period of conflict between Twitter and the Indian government. However, a prolonged funding winter forced the company to cease operations, highlighting the challenges faced by Indian startups in competing with established American social media giants.
July 3, 2024
Phenom, a US-based HRtech company, has acquired Tydy, another US HRtech startup specializing in pre-boarding and onboarding solutions. With development centers in Hyderabad and Vizag employing 850 and 250 people respectively, Phenom aims to significantly expand its workforce. Tydy, based in Bengaluru with a 40-person team, will have its team, including co-founders Kiran Menon, Nikhil Gurjer, and Gaurabh Mathure, integrate into Phenom. The acquisition, Phenom's fifth, is set to enhance the employee onboarding process and shorten the time to productivity. Valued at $1.4 billion in 2021, Phenom emphasizes the strategic value of this acquisition in improving HR practices and expediting operational steps necessary for new hires. Tydy’s technology will now support Phenom's comprehensive approach to optimizing hiring, growth, and retention outcomes across organizations.
July 3, 2024
Thane-based healthtech startup Watch Your Health has raised $5 million in a Series A funding round led by Cornerstone Ventures and Conquest Global. Founded in 2015 by Ratheesh Nair, Abhitosh Pandey, Jay Patel, and Prachi Shinde, the startup helps insurers and pharmaceutical companies enhance customer engagement using advanced analytics for personalized health recommendations. The funds will be used to scale operations, expand the user base, and enhance technological infrastructure. Watch Your Health aims to introduce electronic behavior records, mental health support, predictive analytics for disease prevention, and chronic disease management. The startup has established partnerships with healthcare providers like Watania Takaful and Shalina Healthcare, competing with HealthifyMe, GOQii, and others.
July 2, 2024
Home furnishing startup Wify recently closed its Pre-Series A funding round, garnering INR 40 Cr (approximately $5 million). The funding, conducted in two tranches, saw initial investors like Blume Founders Fund and Singularity Ventures, and later additions from Mount Judi Ventures and Capria Ventures. This financial boost will enable Wify to expand its product offerings, introduce new services, and strengthen its technology framework.
July 2, 2024
Jaipur-based Fabriclore has raised $1.6 million in funding led by PeerCapital from Bengaluru and Regal Fabrics from the UAE. This tech-enabled fabric sourcing platform for fashion businesses will use the funds to expand its presence in key markets, including India, the Middle East, Europe, and the USA. The company will invest in technology to streamline operations, enhance customer experience, and scale internationally. Founded in 2016 by Vijay Sharma, Sandeep Sharma, and Anupam Arya, Fabriclore offers a wide portfolio of cotton, viscose, sustainable, and polyester fabrics. With a catalogue of 10,000 SKUs developed by over 550 suppliers, it has onboarded over 200 private labels within 12 months of its B2B pivot. Fabriclore also created the Fabric Experience Studio in Jaipur and plans more in tier-A cities in India and the UAE.
July 1, 2024
Growth Sense, an India-based business growth platform, has raised $600,000 in funding led by angel investors, micro VCs, and industry veterans. This funding will help Growth Sense empower small and medium enterprises (SMEs) by providing strategic growth solutions, showcasing investor confidence in its potential. The funds will be used to enhance the platform, expand the team, and scale operations to reach more SMEs. Growth Sense aims to leverage advanced technology and expert insights to help SMEs overcome growth challenges and achieve sustainable success. This strategic move aligns with the company's vision to become a leader in the SME growth sector, driving economic development with valuable resources and support.
July 1, 2024
AWS has inaugurated its first space accelerator in India, partnering with ISRO and IN-SPACe to select 24 pioneering startups for a comprehensive 14-week program. This initiative aims to drive innovation in space technology by providing technical expertise, specialized AWS training, and mentorship. The participating startups will benefit from up to $100,000 in AWS credits and support in building scalable solutions using advanced technologies like AI, machine learning, and data analytics. The accelerator will also offer guidance on go-to-market strategies, fundraising, and essential business practices, fostering a robust ecosystem for space tech advancements in India.
June 28, 2024
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June 27, 2024
The Union government is nearing its goal of having a recognized startup in each of India's 785 districts within a year, with only 20-25 districts remaining. Most are in remote northeastern states or regions affected by extremism. The Startup India initiative, led by DPIIT, offers benefits like tax exemptions and fast-tracked intellectual property rights. Eligible startups must be less than 10 years old with an annual turnover under Rs 100 crore.
