Page 12 - Fundings

Elon Musk's xAI raises $6 billion, wraps up latest round of funding

The equity financing came from 97 investors, and includes stakes as small as $77,593

MFs funding to NBFCs rise almost 47% to Rs 2.33 trillion in Oct 2024

Mutual fund (MF) debt exposure to NBFCs, which includes commercial papers (CPs) and corporate debt, has now remained above Rs 2 trillion for more than half a year

B2B supply chain financing platform Mintifi raises $80 million from Prosus

The investment firm acquired a 10.65 per cent effective interest in the Mumbai-based fintech with the latest round of fund infusion

VC funding rises 44% to $9.2 billion in the first 10 months of 2024

Country continues to rank among top five markets globally for VC funding activity: Report

ShopDeck raises $8 mn to support sellers across Tier-II, -III cities

This capital will drive ShopDeck's mission to empower small and mid-sized businesses, many of which are emerging brands exploring D2C for first time, to achieve profitability and scale

SBI's fundraising via bonds touches Rs 50,000 crore in FY25 to date

With the raising of Rs 10,000 crore from infra bonds, SBI's total fundraise has touched Rs 50,000 crore so far during the current financial year. The country's biggest lender State Bank of India earlier this month had raised Rs 10,000 crore through its seventh infrastructure bond issuance. The bank garnered Rs 5,000 crore AT1 Bonds, Rs 15,000 crore Tier 2 Bonds and Rs 30,000 crore Long Term Bonds till date during FY25 at a very competitive rate, SBI said in a statement. All these issues have attracted overwhelming responses from investors and were oversubscribed by more than 2 times against the respective base issue size, it said. SBI Chairman CS Setty said that wider participation and heterogeneity of bids demonstrated the trust investors place in the country's largest bank. The investors were across provident funds, pension funds, insurance companies, mutual funds, banks etc, it said. These bonds are of 15 years tenor except for the AT1 Bonds which is perpetual. Last month, SB

8i Ventures comes with 2nd edition of pre-seed funding Origami programme

'There is significant funding available today for business models which can demonstrate unit economics within a reasonable timeframe'

Insurtech firm Zopper raises $25 million in Series D funding round

Insurtech platform Zopper on Thursday announced it has raised USD 25 million (around Rs 211 crore) in Series D funding round, co-led by Elevation Capital and Dharana Capital. The round also saw participation from existing investor Blume Ventures, said Zopper which is also backed by Creaegis, Bessemer Venture Partners and ICICI Venture. "Zopper will use this fresh funding to ramp up its digital technology infrastructure, by strengthening its insurance distribution platform. The company will also invest in its data science, data engineering, artificial intelligence and machine learning capabilities," it said. The funds will also accelerate growth in the current bancassurance solutions and enhance the post-sales and servicing capabilities of the company's device and appliance protection businesses, Zopper said. "We take pride that we are the only insurtech company that works with insurance providers and creates byte-sized, personalised products that it then supplies to distribution ..

Indian insurtech funding drops 40% in 2023, revenue shows multifold growth

India now has over 150 insurtechs generating revenue exceeding $750 million, with 10 unicorns or soonicorns and more than 45 minicorns

Accel leads $2 mn funding for Swish to expand 10-minute food delivery

The funding aims to support the startup's expansion across Bengaluru and eventually into other Tier-1 cities, stated the company press release

Emerging India Focus Funds pays Rs 64.35 lakh to settle case with Sebi

Emerging India Focus Funds on Monday settled a case concerning the alleged violations of Foreign Portfolio Investor (FPI) rules with markets regulator Sebi on payment of Rs 64.35 lakh towards settlement charges. This came after the applicant filed an application with Sebi proposing to settle the proceedings initiated against it, "without admitting or denying the findings of facts and conclusions of law" through a settlement order. The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant and issued a showcause notice in February for the alleged violations of FPI Regulations and Intermediaries Regulations. Pending adjudication proceedings, Emerging India Focus Funds filed an application with Sebi and shelled out Rs 64.35 lakh on November 13 to settle the alleged violations. "In view of the acceptance of the settlement terms and the receipt of settlement amount ...by Sebi, the instant adjudication proceedings initiated against applican

India's startup ecosystem sees rebound, late-stage deals take lead

Investors attribute the revival to the country's strong public markets, which are boosting confidence in initial public offering (IPO)-bound startups offering viable exit opportunities

Some rich nations say trillions of dollars needed to fight climate change

Some developed countries on Wednesday acknowledged that trillions of dollars were urgently needed to address climate change and wealthy nations should continue to lead in providing climate finance. These countries -- including Germany, Canada, France, and the Netherlands -- are part of an alliance known as the High Ambition Coalition, which advocates for bold climate actions. "As we negotiate this new goal for climate finance, we must again overcome our differences, strengthen our commitment to global solidarity, and find the money to meet the planet's growing needs," the coalition said stressing that trillions of dollars were urgently needed. The statement comes as countries spar over a draft for a new finance package to help developing countries cope with climate change -- or New Collective Quantified Goal (NCQG) -- that is expected to be finalised at the ongoing UN climate talks in Baku, Azerbaijan. Harjeet Singh, a climate activist and global engagement director for the Fossil

Blue Energy Motors plans to raise $100 million by January, says CEO

Blue Energy, India's first LNG truck manufacturer, was valued at $250 million in its previous fundraising round

BlueGreen Ventures launches $75 mn maiden fund, expects final close in 2025

Venture Capital entity BlueGreen Ventures on Wednesday said it has launched a maiden USD 75 million, about Rs 633 crore, fund for investment in early-stage startups. The fund has been launched by operators-turned-investors Rajeev Suri and Anup Jain who were managing partners at Orios Venture Partners. "The USD 75 million fund was approved by SEBI about a month back. We expect to close the fund same time next year," Jain said. The new fund claims to be backed by Global CEOs and CXOs from Fortune 500 companies, along with successful startup founders from India, the firm said in a statement. "We are privileged to have the full support of the ecosystem as we approach our first close, set to be announced shortly. They have placed their trust in us, recognising our commitment, values and passion for partnering with founders to create success stories. "We are also deeply grateful for the extensive backing we have received from angels, government bodies, fellow VCs (venture capital firms)

Edtech platform Bhanzu secures $16.5 mn for US expansion and global growth

The company has reported 8 times growth since its last funding round two years ago. It is now cash-flow positive, with expansion plans focused on the US market

UN Biodiversity Conference ends in limbo as countries spar over funding

The main focus of COP16 was to advance a landmark biodiversity pact adopted in Montreal two years ago

'What is the source of your funds?' TMC min asks agitating junior doctors

Upping the ante against junior doctors who have been protesting the rape and murder of their colleague at the RG Kar hospital, West Bengal's Agriculture Minister Sovandeb Chattopadhyay sought to know the source of their funds that helped continue the agitation for over two months. Chattopadhyay was speaking at a post-Durga Puja get-together organised by the TMC at his constituency Khardaha in North 24 Parganas district on Wednesday. A video of his address went viral on Thursday, triggering a fresh war of words with the junior doctors. PTI did not independently verify the authenticity of the video. "May I ask them, why are you agitating? For what reason are you agitating? Why is all the anger directed at the government?" he said. "What is the source of your funds? From where are you getting so much money?" he added. Reacting strongly, senior doctor Subarna Goswami said the "outburst" showed the discomfiture of the establishment as issues concerning the healthcare system are being .

Zinc raises $25.5 million in seed funding from Nexus Venture Partners

The funding will enable Zinc to drive product innovation and expand its offerings

Delhi court to decide on Engineer Rashid's bail in terror funding on Nov 19

A Delhi court would likely pronounce on November 19 its order on a bail plea of Lok Sabha MP from J&K's Baramulla, Engineer Rashid, in an alleged case of terror funding. Additional Sessions Judge Chander Jit Singh, who was scheduled to pass the order on Monday, adjourned the matter. The judge had on September 10 granted interim bail to Sheikh Abdul Rashid, alias Engineer Rashid, to enable him to campaign for the Jammu and Kashmir assembly elections while deferring the order on his regular bail plea. Rashid's interim bail was previously extended till October 28 on the ground of his father's poor health. The National Investigation Agency (NIA) hadn't opposed the plea after verifying the documents. Rashid has been lodged in Tihar jail since 2019 after the NIA arrested him under the Unlawful Activities (Prevention) Act in the 2017 terror funding case. Elections to the 90-member J&K Assembly were held in three phases between September 18 and October 1. The results were declared on .