Page 20 - Fundings

Vi shares rise 22% to 1 yr high as company nears fundraising deadline

The company has said multiple times that any new funding by banks will be used for the deployment of capital expenditure, and not to roll over existing dues

Dec 2023 becomes highest funded month as startup investments cross $1.6 bn

Budding companies had raised $1.4 million in January this year. Regardless, startup funding hit a seven year low in 2023

Fundraising through QIP shines, companies garner Rs 50,200 cr in 2023

Fundraising through the issuance of shares to institutional investors skyrocketed, as companies raked in Rs 50,218 crore in 2023, marking a six-fold surge from the previous year and indicating a positive outlook among investors. Apart from QIPs, fund mobilisation through rights issue of shares and OFS (Offer-for-Sale) route too surged in 2023, as compared to last year. Market experts attributed the primary reason for the increase in Qualified Institutional Placement (QIP) fundraising to the market and investor sentiments that play an important role in their success. As long as positive market vibes persist, and investors continue to reap returns, listed companies lean towards opting for fundraising through QIP as this avenue ensures swift access to funds, they added. According to data by the National Stock Exchange (NSE), companies collected Rs 50,218 crore through QIPs in 2023, which was way higher than Rs 8,196 crore raised in the preceding year. Bajaj Finance Ltd spearheaded th

Startups hope for strong growth in 2024 after unicorns, funds fall in 2023

Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around USD 8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent. Indian startups are estimated to have laid off over 15,000 employees in 2023. Startups with sustainable business models as well as the well-capitalised ones are expected to weather the current turmoil. And the horizon in 2024 is expected to be "exciting" as well as "challenging". Venture capital firm Lightspeed, which has invested in firms like BYJU'S, Magicpin and OYO, said a high cycle or a low cycle of two years does not really impact the ..

ICRA assigns AA+ rating to Adani Ports on strong business profile

While ICRA said its rating factors in the company's strong business profile, India Ratings said it continues to take a consolidated view of the company and its subsidiaries

Escrowpay raises $6 million in fresh funding from existing investors

Escrowpay, which offers digital escrow platforms, has raised USD 6 million in fresh funding from existing investors. The latest funding is through the series-A round and is part of the ongoing round targeting USD 15 million. The company recently secured the first digital escrow regulatory fintech authorization from the IFSCA in the Gift City. Currently it serves over 3,000 clients, including SMEs, unicorns, listed enterprises, and emerging digital-first businesses. Escrowpay has processed transactions exceeding Rs 15,000 crore. The fresh capital injection will be strategically utilized to accelerate its initiatives, support key growth areas, and foster innovation within the payments ecosystem, its MD Ashwin Chawwla said in a statement on Wednesday.

InCred becomes 2nd unicorn of 2023 after raising $60 mn in funding round

Fintech firm InCred has turned unicorn after raising USD 60 million in a funding round from new and existing investors. Following the fresh capital infusion, InCred has been valued at USD 1.04 billion and has become the second company to gain unicorn status this year, the company said in a statement. The Series D round was led by Ranjan Pai of MEMG, who invested USD 9 million followed by Ravi Pillai, Chairman at RP Group of Companies, and Ram Nayak, Global Co-Head of the Investment Bank and Head of Fixed Income & Currencies at Deutsche Bank, who invested USD 5.4 million and USD 1.2 million, respectively. The fundraise also saw participation from several large ultra-high-net worth individuals and Family Offices, as well as institutional investors like Varanium Capital Advisors and Sattva Group, it said. "This funding marks a significant milestone in our journey and takes us into the ranks of Unicorns. We are deeply grateful for the overwhelming support our investors have ...

India-focused VC funds continue to raise capital despite funding winter

As of December 2023, 185 India-focused VC funds are in the market, aiming to raise a combined capital target of $10.73 billion, according to Preqin

OpenAI in talks to raise new funding at valuation of $100 billion or more

Investors potentially involved in the fundraising round have been included in preliminary discussions, according to the people, who asked not to be identified to discuss private matters

Investcorp leads Rs 340-cr funding to packaging firm Canpac Trends

Global alternative investment firm Investcorp has led an investment of Rs 340 crore (USD 41 million) in the paper-based packaging solutions provider Canpac Trends, companies said in a joint statement on Friday. The transaction provides a partial exit to JM Financial's second India fund that has been invested in Canpac since 2021. Founded by Nilesh Todi, Ahmedabad-based Canpac makes folding cartons, which have diverse end-use in fashion and retail, food and food services, FMCG, and industrial products. It also makes paper bags, luxury boxes, corrugated cartons and flexible laminate solutions. Canpac has four manufacturing plants in Ahmedabad, Kolkata and Tiruppur in Tamil Nadu, apart from an R&D facility. The investment will help Canpac expand its production footprint to more manufacturing hubs, apart from scaling up sales capabilities, Canpac founder Nilesh Todi said. Gaurav Sharma, head of India investment business at Investcorp, said paper packaging champions sustainability, a .

Dry powder decoded: What it means to investors and the financial ecosystem

Dry powder refers to the cash reserves maintained by corporations, private equity funds, and individual investors for strategic investments or during an economic downturn

Cipla invests Rs 42 crore in GoApptiv to enhance healthcare access

Cipla's move aligns with its vision to strengthen investments in channels and technologies

$340 million fundraise by Udaan signals pick-up in startup dealmaking

Led by M&G plc, Udaan's Series E funding includes Lightspeed Venture Partners and DST Global

Agilitas Sports secures Rs 100 cr Investment from Nexus Venture Partners

Sport comprises 16 per cent of the Indian footwear market and is the fastest-growing segment

Alternative debt provider BlackSoil sees 44% jump in investment in 2023

Bansal also said that the risk is getting blurred between equity and debt as entrepreneurs are unable to raise funds via equity

Fashion D2C brand Snitch secures Rs 110 crore in series A funding

The firm said this funding round stands out, especially at a time when many late-stage D2C brands struggle to secure capital

Aye Finance raises Rs 310 cr in funding round led by UK development agency

Digital lender provides working capital and small loans to micro-enterprises

Adani Ports to raise $600 million through non-convertible debentures

The company, which operates 13 ports and terminals in the country including its largest container handling port

India, China providing more climate finance than rich nations: Report

Some developing countries, including India, China and Brazil, contribute more climate-related finance through multilateral development banks than many countries in the Global North, according to an analysis by a UK-based website reporting on climate science and policy. The analysis comes amid a push from developed countries to broaden the donor base for climate finance to include developing countries like China and Saudi Arabia. For instance, in a submission to the United Nations Framework Convention on Climate Change (UNFCCC) on its expectations from the global stocktake in September, New Zealand said: "Different countries have different capabilities to contribute, which have changed over time. Current and historical emissions, national wealth, and a range of other factors have changed, and are continuing to change. Bifurcation based on thirty-year-old lists does not reflect the contemporary reality of where emissions are coming from, or respective capabilities to contribute." Citi

GenAI startup Sarvam AI raises $41 mn in funding round led by Lightspeed

Company says it is developing product that can be used for training custom AI models or as an enterprise-grade platform