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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
