Page 21 - Fundings

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

Maha govt tables supplementary demands worth Rs 55,520 cr in state assembly

The Eknath Shinde-led Maharashtra government on Thursday tabled supplementary demands worth Rs 55,520.77 crore in the state assembly on the first day of the winter session of the legislature here. The supplementary demands, which are additional funds sought by the government over the budgetary allocation, were tabled in the House by Finance Minister Ajit Pawar. Of the total, supplementary demands worth Rs 19,244.34 crore were described as mandatory expenditure, while demands worth Rs 32,792.81 crore are required for various ongoing programmes and schemes of the state government, a note issued by the finance department said. Besides that, supplementary demands worth Rs 3,483.62 crore are towards the state's contribution to the ongoing schemes of the Union government, it said. "There are several ongoing schemes which require a portion of financial expenditure from the state's coffers," a finance department official said. The actual impact of these supplementary demands on the state

Indian Angel Network's Alpha Fund completes first close at Rs 355 crore

IAN Alpha Fund has a corpus of Rs 1,000 crore and is registered with Sebi under AIF Category II

Scapia raises $23mn funding led by Elevation Capital, 3STATE Ventures

Fintech company Scapia has raised USD 23 million in a funding round, led by Elevation Capital and Binny Bansal's 3STATE Ventures. The round also saw participation from existing investors -- Matrix Partners India and Tanglin Venture Partners. "Scapia's USD 23 million Series-A fundraise is a testament to the customers' love for its co-branded credit card and delightful app experience. Within five months of launch, Scapia has distributed its card in over 7,500 pin codes," the company said in a statement. Scapia offers financial products and travel services through its co-branded credit cards. The company plans to use the funds to grow the customer base, add more banking partners, and enhance the product offerings. "This funding will fuel our efforts to grow our customer base, add more banking partners and strengthen our product suite. We are grateful to our new and existing investors who believe in our vision and are helping us deliver a compelling proposition to our customers," Scap

Funding winter for Indian startups likely to end by March: Experts

Investors attending the TiE Global Summit (TGS) exuded confidence that funding winter for Indian startups will end by March but said budding entrepreneurs seeking funds must come up with credible plans to generate returns on investments, as fancy valuations will no longer impress global fund managers. Funding winter, which refers to the drying up of funds for startups, remained the overarching theme at the recently concluded TGS 2023, the eighth edition of the flagship event organised by TiE. The event, held in conjunction with the Singapore Fintech Festival, was attended by over 2,000 participants, including experts, fund managers, thought leaders and startups. As regards India, We Founder Circle co-founder Gaurav VK Singhvi said, "Things would improve for Indian startups by March next year". He said that global investors are sitting on funds and once the "uncertainty" with regard to geopolitics, especially the Ukraine war and the Middle East crisis, gets over, the "funds would st

Securing funding major challenge for women entrepreneurs, say founders

Securing funding is a major challenge for women entrepreneurs along with balancing the demands of entrepreneurship with traditional gender roles and expectations, say women business leaders. Creating an inclusive work environment and addressing key areas like easy entry into workforce, financial autonomy and healthcare would help women lead and make an impact, women entrepreneurs said on the occasion of Women Entrepreneur Day. According to Assiduus Global CEO & founder and Niti Aayog advisor Somdutta Singh, securing funding is a significant challenge for women entrepreneurs along with balancing the demands of entrepreneurship with traditional gender roles and expectations. Historically, many business networks have been male-dominated, making it harder for women to access key connections and opportunities. I am constantly working to create a diverse and inclusive work environment. I am involved in building networks that support women in entrepreneurship. "I am always advocating for

Cybersecurity startup SecurWeave raises Rs 2.8 cr in seed round led by IAN

The company said it has already demonstrated its capabilities in both private and defence sectors in India and is now poised for global expansion

Indian startup funding winter shows signs of thaw as large deals resurface

October saw a resurgence in significant funding rounds, setting the stage for a thaw in investment climate