Page 13 - Funding

Finance Bill 2023: Angel tax another hiccup for start-ups amid funding woes

Angel tax another hiccup for Indian startups amid the funding winter

No thaw seen in start-up funding winter despite 231 deals this year

India-focused VCs sitting on dry powder worth $12.88 bn, highest in 7 yrs

Stop funding new oil & gas plans, expanding reserves: UN Chief Guterres

G20 leaders should aim for a new set of carbon reduction targets by November, says Guterres

Fundraising woes remain for fintechs in the face of a revival of big bets

Investments among fintech start-ups in India saw a decline of 47 per cent year-on-year (YoY) in 2022 at $5.65 billion, compared with $10.7 billion the previous year, according to data from Tracxn

PhonePe raises Rs 1,649 crore in additional funding from Walmart

PhonePe, one of India's largest fintech platforms, on Friday said it has raised an additional USD 200 million (around Rs 1,649 crore) in primary capital from Walmart, at a pre-money valuation of USD 12 billion. This new funding comes as a part of PhonePe's ongoing fundraise of up to USD 1 billion in capital, following its domicile shift to India last year. With this tranche, the company has raised USD 650 million (around Rs 5,360 crore) from several global investors, PhonePe said in a statement. The USD 12 billion pre-money valuation makes Walmart-owned PhonePe the most valuable fintech in the country, surpassing payment services provider, Razorpay which was last valued at USD 7.5 billion. PhonePe competes with Google Pay and Paytm. "The company expects further investments, which will be announced in due course," the statement said. "PhonePe plans to deploy these funds to build and scale new businesses like insurance, wealth management, lending, stockbroking, ONDC-based shopping an

Funding woes remain for Indian fintechs despite revival of big bets

Investments among fintech start-ups in India saw a decline of 47% YoY in 2022 at $5.65 billion, compared to $10.7 billion the previous year

SVB crisis: IBA panel meet next week may discuss strategy to back start-ups

Banks need a multi-pronged strategy to boost presence in start-up ecosystem following SVB's collapse, say experts

Ayurveda firm TAC raises Rs 100 cr in funding for business expansion

Company will use money for manufacturing, research, expanding offline presence

SVB fallout: Fintech, venture capital companies come to the rescue

Razorpay is offering domestic start-up clients to move their money into their Indian current accounts as FDI through the firm's partner banks

Unicorn proptech start-up NoBroker raises $5 mn from Google for expansion

Unicorn proptech startup NoBroker has raised USD 5 million from technology major Google as part of its expansion plan. NoBroker has bagged funding from Google, which joins existing investors General Atlantic, Tiger Global and Moore Strategic Ventures in its Series E round, the Bengaluru-based firm said in a statement. In November 2021, NoBroker.com raised USD 210 million from investors, including General Atlantic and Tiger global to expand its business across 50 cities. The Series E funding round was led by General Atlantic, Tiger Global Management and Moore Strategic Ventures. NoBroker platform helps in renting, buying, selling, home services, financial services to society management services through NoBrokerHood. "One of the key areas where we will leverage this partnership will be to build unique solutions that help simplify the lives of the residents of NoBrokerHood societies. Our objective is to aggressively grow and reach 1 lakh societies in the next few years," said Akhil ..

Bike startups had boomed just before the bans rolled out in Mumbai, Delhi

Funding, number of new startups had both risen significantly since the pandemic began

Scrut Automation raises $7.5 mn in funding round led by MassMutual Ventures

IT startup Scrut Automation, which specialises in Governance, Risk and Compliance (GRC) automation, has raised USD 7.5 million in a funding round led by MassMutual Ventures, a top company official said on Tuesday. Scrut Automation CEO and Co-Founder Aayush Ghosh Choudhury told PTI that the fresh round of funding took place at 4 times higher valuation compared to the last funding round a year ago when the company raised USD 3 million. Existing investors Lightspeed and Endiya Partners participated in the funding round to raise their stake in the company, Choudhury said. "We still have 40 per cent of the amount in the bank that we raised in last round. The fresh round of funding is more of strategic in nature," he said. The company will utilise the fund in product development as the company aspires to increase client base by 30-40 times by end of this year. "We at present have around 50 logos. Now we are looking to increase logos to 1,500- 2,000 by end of 2023," Choudhury said. The

PhonePe raises $100 mn in additional funding at $12 bn valuation

This follows $350 million in capital from General Atlantic as a part of an ongoing fundraise with a target of raising up to $1 billion in all

Zypp Electric raises $25 million in Series B funding round led by Gogoro

Zypp plans to deploy 200,000 electric scooters and expand its footprint to 30 cities

Entropik raises $25 mn in Series B funding led by Bessemer, SIG Venture

The funding led by Bessemer Venture Partners and SIG Venture Capital would help Entropik to expand across the US, Europe and Asian Markets

Digital lending startup LoanTap raises Rs 24 crore in venture debt

Funding led by Lighthouse Canton through its Category-II AIF

Vodafone Idea plans to get back in the game but fundraising a challenge

The estimate for what it needs to tackle now is Rs 40,000 crore

Rise of India's agritech defies funding winter

The agritech sector in India is poised for accelerated growth owing to the combined effort of enterprising start-ups, private investors and government initiatives

Funding for electric vehicle sector up 117% in 2022, at $1.6 billion

The Budget exemption for Customs duty on capital goods and machinery for manufacture of EV batteries, and the duty cut on lithium batteries from 21 per cent to 13 per cent will lower prices

Union Budget 2023-24: FM Sitharaman extends tax benefits to start-ups

The allocation for start-ups in the Budget include Rs 160 crore under Startup India Seed Fund (SISF)