Page 16 - Fundings

RBI's draft project funding norms may create funding challenge: CareEdge

Reducing debt by 20% is seen as positive for demand-based projects, lowering risks from large repayments and refinancing

In red-hot AI space, funds for Indian startups cooling down: Traxcn

PE/VC funding down 71% in CY23; it has slowed further in this year

RBI proposes tighter rules for under-construction infra project financing

Indian banks had seen large defaults across infrastructure loans starting 2012-2013 on account of exuberant lending, which led to a strain on the country's banking system

Asian Development Fund to be replenished with $5 billion: ADB Prez Asakawa

The Asian Development Fund (ADF) will be replenished with USD 5 billion to support most vulnerable sections in the Asia Pacific region. Donors and the Asian Development Bank (ADB) have agreed for the replenishment of ADF and Technical Assistance Special Fund (TASF) during the 57th Annual Meeting of the Manila-based multilateral funding agency here. ADF is ADB's largest source of grants for operations in its poorest and most vulnerable developing member countries and is replenished every four years. ADB President Masatsugu Asakawa said ADF 14, marking the 13th replenishment since the fund's establishment, will support grant operations during 2025 -2028. The current replenishment is about 22 per cent higher than the USD 4.1 billion available in ADF 13, and will provide eligible ADB members with the largest-ever volume of ADF grants, he said. The TASF 8 will provide grants that help prepare projects, build capacity, and provide technical or policy advice. "We meet amidst multiple ..

SaaS startup Plotline raises $2.6 mn in seed round from Elevation Capital

SaaS (software-as-a-service) startup Plotline has raised USD 2.6 million (Rs 20.9 crore) in a seed funding round from venture capital firm Elevation Capital. The company plans to use the capital to expand overseas. Based in San Francisco and Bengaluru, Plotline serves industry majors in the likes of Dream11, Khatabook, BharatPe, CoinDCX, Niyo, Step, and Kredivo. "Strategically deploying its USD 2.6 million seed round to bolster key functions across R&D (research and development), marketing, and sales, Plotline is now looking ahead to drive expansion in the US, the Middle East, Africa, and Asia-Pacific regions," the company said in a statement.

Only 3% women have access to external funding in small cities, finds study

Only 3% women entrepreneurs in tier 2 and 3 cities in India out of the 300 surveyed had access to external funding to start or expand their businesses, finds out a white paper on Women Entrepreneurs Transforming Middle India by Reserve Bank Innovation Hub (RBIH). The white paper was released at an event organised by Federation of Indian Chambers of Commerce & Industry (FICCI) here on Thursday. But we are keen to promote women in fintech. It is unfortunate that angel investors hesitate to give US$50,000 or US$100,000 to women in fintech. So, we are developing a fintech entrepreneurs programme in partnership with IIM Ahmedabad and Lucknow, BITS Pilani and Indian School of Business," said Rajesh Bansal, chief executive officer of Reserve RBIH, who released the findings. Bansal also pointed out that while literature and primary surveys reveal that women, in rural areas particularly, may have different financial goals compared to men, there is hardly any financial institution that ...

Morgan Stanley PE, India Life Sciences Fund inject Rs 1,000 cr into Maiva

Maiva Pharma on Thursday said it has raised Rs 1,000 crore from Morgan Stanley Private Equity Asia and India Life Sciences Fund. The transaction includes both primary and secondary funding, the Bengaluru-based pure play injectables contract development and manufacturing organisation said. The two investors have jointly acquired a controlling stake from existing investors and also infused primary capital into the company, an official statement said, without disclosing the stakes picked up. This is Maiva's first private equity fundraise and the proceeds will be used to set up a new manufacturing facility near Karnataka's Hosur with capabilities in sterile dosage forms, including pre-filled syringes, bags, oncology, and hormonal injectables. It already has a facility in Hosur approved by the USFDA and other regulators that manufacture vials. "This fundraise will be used to add more vial, lyophilisation, and suspension capacity and introduce new manufacturing capabilities such as ...

IvyCap Ventures announces final close of third fund at Rs 2,100 cr

Fund will invest in 'high-growth companies with strong potential', says venture capital firm

Nepal Investment Summit concludes; funding worth NRs 9 billion approved

Investments worth more than NRs 9 billion have been approved for four projects in Nepal as a key investment summit, which witnessed the participation of hundreds of investors from various countries, including India, concluded here on Monday. Prime Minister Pushpa Kamal Dahal 'Prachanda' Sunday inaugurated the third edition of the Nepal Investment Summit 2024 with the theme 'Emerging Nepal'. "The third investment summit attracted 2,500 guests, including 800 potential international investors, Sushil Bhatta, CEO of the Investment Board Nepal (IBN), said at the closing ceremony here on Monday. Altogether, 152 projects were showcased and good responses were shown by the investors, Bhatta said. Investments worth more than NRs 9 billion have been approved for four projects in Nepal, officials said. Some 12 foreign investors, including those from India, China, the US and the UK, directly met with Prime Minister Prachanda during the two-day summit. Thirty delegates held meetings with top .

Arcelormittal Nippon Steel India in talks for $1 bn loan to fund growth

The steel firm had earlier held loan negotiations with a few other lenders but they couldn't agree on the cost of funding, said the people

Garden of Joy raises Rs 84 lakh in seed round led by Inflection Point

Landscaping startup will use the money to expand in six cities in South India, develop technology

Sharad Sanghi's AI cloud startup Neysa raises $20 mn in seed funding

Neysa is the second entrepreneurial stint of Sharad Sanghi, considered to be pioneer of the Indian cloud computing space

Cornerstone Ventures launches second fund worth $200 mn for B2B startups

Through the fund, investments will be made across stages, with a focus on early growth stage VC bets

85% dip in top venture capital funding in 2023; hopes up for 2024

Over the past two years, prominent global VC firms have also divested from some of their investments

Blackstone to invest $2 bn annually in India with primary focus on infra

PE major wants India to expedite M&A clearances and enhance commercial dispute resolution

Vi shareholders approve Rs 20,000 cr fundraise through securities issuance

The telco is looking to raise up to Rs 45,000 crore through equity & debt

GenAI startup Vodex raises $2 mn in seed funding round for biz expansion

Vodex helps businesses connect with customers via human-like phone conversations, driving sales and improving customer engagement

Hiring in healthtech sector to grow 15-20% despite funding slowdown: Report

Even as the healthtech sector in the country has been facing an investment downturn, hiring in the segment is expected to grow by 15-20 per cent, a report said on Monday. The healthtech sector in India demonstrates resilience with a 9 per cent increase in employment in 2023, over the previous year despite a 'funding winter' impacting the flow of investments and hiring sentiments, according to HR services company CIEL HR's 'Health Tech Sector Employment Trends' report. The healthtech sector is bound to grow rapidly due to the socio-economic changes in India and the competitive advantages we offer for the world in patient care as well as in manufacturing and research and development (R&D), and there has been an upswing in hiring in the recent times on a consistent basis, CIEL HR CEO Aditya Narayan Mishra said. "Despite the 'funding winter', the hiring numbers have grown and the outlook for the year ahead (2024) is significantly stronger," he added. Hiring outlook for 2024 remains ...

NHPC board approves proposal for raising Rs 6,100 cr funds through NCDs

State-owned NHPC on Wednesday said its board has approved a proposal to raise Rs 6,100 crore in debt in 2024-25. The Board of Directors of NHPC in its meeting held on Wednesday considered and approved the proposal for raising of debt up to Rs 6,100 crore during 2024-25 through non-convertible Corporate Bonds in one or more tranches on private placement basis, term loans or external commercial borrowing in tranches, a BSE filing said. Further, the Board of Directors in the meeting has also given its in-principle approval for closure of Loktak Downstream Hydroelectric Corporation Limited (a Subsidiary Company of NHPC Limited and Joint Venture with Govt. of Manipur), subject to the approval of DIPAM, Ministry of Power and Govt. of Manipur, it stated.

Startups wait for spring: Funding winter appears over but challenges ahead

After battling funding winter and scandals, the sector focuses on profitability