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Home services platform Snabbit has raised USD 56 million (about Rs 530 crore) in a funding round co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments' Unicorn Growth Fund, and Bertelsmann India Investments, the company said on Tuesday. Existing investors Nexus Venture Partners and Lightspeed also participated in the round. Snabbit Founder and CEO Aayush Agarwal told PTI that the company plans to utilise the fund to build a strong balance sheet as it is gearing up to expand service in micro markets and foray into new categories in near future. "We have raised USD 56 million in Series D round funding, led by SIG, along with Mirae and Bertelsmann. This also marks Miraeas first investment from the Unicorn Growth Fund that was recently launched. We already have strong investors like Lightspeed, Elevation, and Nexus. Bertelsmann, which led our previous round, is doubling down significantly," Agarwal said. Global marketplace investor FJ Labs also participated in the fund
The government on Saturday issued detailed guidelines for operationalisation of the second tranche of Rs 10,000 crore fund of funds (FoF) scheme for startups. The guidelines include mechanisms for fund deployment, governance, and monitoring, with the objective of improving the efficiency of capital flows into India's startup ecosystem, the commerce and industry ministry said. The scheme will be implemented through commitments to SEBI-registered Category I and II Alternative Investment Funds (AIFs), which will invest in DPIIT-recognised startups. "This approach is expected to ensure disciplined capital allocation, crowding-in of private investments, and wider access to funding across sectors, stages, and geographies," it said. The Small Industries Development Bank of India (SIDBI), it said, will act as the initial Implementation Agency and will undertake execution through a structured AIF selection and monitoring process. The Department for Promotion of Industry and Internal Trade
Investment platform JITO Incubation and Innovation Foundation on Monday said it plans to invest Rs 80-100 crore in early-stage startups in the next 12-18 months. The platform has invested over Rs 150 crore across more than 100 pre-seed and seed-stage startups over the past two years, and reported over 15 exits during the period. "Over the next 1218 months, the platform plans to invest approximately Rs 80100 crore, with an aim to back 2025 startups annually. Its investment ticket size currently ranges between Rs 1.5 crore and Rs 2 crore, depending on stage and sector," JIIF said in a statement. The platform has also made a Rs 26.5-crore investment in Mumbai-based Atomic Capital. The move allows JIIF to participate in a wider set of investment opportunities beyond direct startup investments. JIIF further said that it plans to launch an accelerator programme focused on the Asia-Pacific region, covering India, the Middle East and Southeast Asia, where the programme will target early-st
Valura.ai, an AI-native global investment platform, on Monday announced the onboarding of over 1,000 wealth advisors across India ahead of its official launch, with a collective AUM pipeline exceeding Rs 3,000 crore over the next 12-18 months. The platform provides access to over one lakh global securities with client assets held in local custody within the IFSC at GIFT City under IFSCA regulation, rather than being routed through offshore brokers. The onboarded network includes independent financial advisors (IFAs), registered investment advisors (RIAs), mutual fund distributors, and chartered accountants. The pre-launch response signals strong demand for a credible global investing infrastructure at a time when India's outbound investment surged 67 per cent to USD 41.6 billion in FY25, and the rupee has depreciated over 8 per cent against the US dollar in the past 12 months, Valura.ai said in a release. "Valura combines AI-driven research and portfolio construction with seamless
India's workforce is projected to expand 4.7 per cent in the first half of FY27, driven largely by growth in e-commerce, tech startups, healthcare, pharma and manufacturing, a report said Wednesday. This improving sentiment is most visible among large enterprises, where 74 per cent indicate expansion, compared to 57 per cent of mid-sized firms and 38 per cent of small businesses, pointing to a scale-driven recovery in employment growth, TeamLease Services projects in its Employment Outlook Report (EOR) for April-September FY27 noted that the momentum carries across sectors, with both digital and core economy industries contributing to the demand. E-commerce and tech startups led with a net employment change (NEC) of 8.9 per cent, healthcare, and pharmaceuticals at 7 per cent, followed by manufacturing, engineering and infrastructure at 6.6 per cent, said the report. It projected an NEC of 4.7 per cent during the period. The report is based on insights from 1,268 employers across 2