Page 23 - Fundings

Skilling start-up Disprz gets $30 mn in Series-C funding from Lumos, others

Established in 2015, Disprz's client base includes firms like ICICI Bank, Amazon, Indian Oil, Bajaj Allianz, Ather Energy, HDFC Life, and Starbucks, among others

Lok Sabha passes bill to set up agency to fund research across universities

A bill to set up a national agency to fund research across universities in the country was introduced in the Lok Sabha on Friday by Union Science and Technology Minister Jitendra Singh. The Anusandhan National Research Foundation Bill-2023 seeks to set up a Rs 50,000-crore fund, with a sizeable contribution from the private sector, to "seed, grow and promote" research and development (R&D) and foster a culture of research and innovation throughout India's universities, colleges, research institutions, and R&D laboratories. It seeks to set up different funds the Anusandhan National Research Foundation Fund, for the financing of activities under the Act; the Innovation Fund for supporting outstanding creativity in the areas supported by the foundation; the Science and Engineering Research Fund for the continuation of the projects and programmes initiated under the Science and Engineering Research Board Act, 2008; and one or more special-purpose funds for any specific project or

Forced to cut food aid to millions globally because of funding crisis: UN

The United Nations has been forced to cut food, cash payments and assistance to millions of people in many countries because of a crippling funding crisis that has seen its donations plummet by about half as acute hunger is hitting record levels, a top official said Friday. Carl Skau, deputy executive director of the World Food Programme, told a news conference that at least 38 of the 86 countries where WFP operates have already seen cuts or plan to cut assistance soon including Afghanistan, Syria, Yemen and West Africa. He said WFP's operating requirement is USD 20 billion to deliver aid to everyone in need, but it was aiming for between USD 10 billion and USD 14 billion, which was what the agency had received in the past few years. We're still aiming at that, but we have only so far this year gotten to about half of that, around USD 5 billion, Skau said. He said humanitarian needs were going through the roof in 2021 and 2022 because of the COVID-19 pandemic and the war in Ukrain

AI startup ZYBER 365 secures $100 mn in funding led by SRAM & MRAM

AI Start-up ZYBER 365 has secured USD 100 million (around Rs 818.7 crore) in Series A funding led by UK-based SRAM & MRAM Group, valuing the company at USD 1.2 billion, a statement said on Tuesday. The latest funding has earned the Web3, AI startup a unicorn status, making ZYBER 365 the 109th unicorn in India's vibrant start-up ecosystem, the startup said in the statement. Founded in May 2023 by Indian-origin entrepreneurs Pearl Kapur and Sunny Vaghela, ZYBER 365 is involved in Web3, AI and cybersecurity segments with a focus on sustainability. With its headquarters in London and operational base in India, the company aims to make India the hub of its operations. The statement said that the Series A funding round, spearheaded by SRAM & MRAM Group, garnered significant investments from other prominent investors as well, highlighting the confidence in ZYBER 365's potential and growth trajectory. The capital will play a key role in fuelling the company's expansion plans, ...

Netweb Technologies India raises Rs 189 crore from anchor investors

Nomura Funds, Goldman Sachs Funds, ICICI Prudential MF, HDFC MF and Nippon MF were among those who got an allotment

Navi Finserv to raise Rs 500 cr debt via non-convertible debentures

Navi Finserv, the NBFC arm of Navi Technologies, on Monday hit the debt market with a plan to raise up to Rs 500 crore through a public issue of non-convertible debentures. The issue will close on July 21, the Bengaluru-based company said in a statement. The issue offers five series of investment options with tenures of 18, 27 and 36 months with yields ranging from 10.18 per cent to 11.01 per cent. There is an option of coupon payments monthly or annually, barring the third and fifth series for which payments will be made every year. Sachin Bansal, cofounder of the Navi Group, said this was the company's second public debt issue meant to further diversify the borrowings profile.

Indian start-ups money for little: Here's a look at ecosystem's finances

Funding raised by start-ups in H1 2023 was $5.4 billion, down 71.5 per cent compared to $19 billion raised in H1 2022

Indian startup funding fell 72% in H1CY23, funding rounds down 66%: Tracxn

In all cities, Bangalore emerged as the leader in total funds raised during this period, followed by Delhi-NCR and Mumbai

India Inc's fundraising from overseas up 12% to $9.7 billion in H1 2023

Several companies, led by Reliance Industries, raised funds from overseas

Renewable energy firm Avaada Group completes Rs 10,700 cr-funding round

Renewable energy company Avaada Group on Wednesday said it has closed a funding round of Rs 10,700 crore. The funds will be used to bolster Avaada's green hydrogen, green methanol, green ammonia, solar manufacturing and renewable power generation ventures. "Avaada Group has announced the successful closure of Rs 10,700 crore (USD 1.3 billion) funding round, marking a historic moment for the green energy industry in Asia and India's renewable energy sector," the company said in a statement.

VC firm Omnivore announces first close of third fund at $150 million

Omnivore Agritech and Climate Sustainability Fund, launched last April, will focus on startups developing breakthrough tech for agriculture, food, climate, and rural economy

RTP Global closes $1bn fund, will make third of investments in India

Fund will invest in sectors that include artificial intelligence, enterprise software, fintech

Lendingkart raises Rs 200cr in debt financing from EvolutionX Debt Capital

Digital lending firm will launch new products such as MSME credit cards, personal loans for self-employed

BillionElectric raises $10 mn in seed fund round, launches e-MaaS platform

E-Maas (electric mobility as-a-service) platform BillionElectric on Tuesday announced its entry into the domestic market and said it has secured USD 10 million in a seed round of funding. The capital infusion, which is in the form of equity and lease funding, will be strategically allocated for the deployment of electric tarmac buses at the Bengaluru international airport; and development of a mid-mile heavy EV trucks platform, the company said in a statement. The company said it has already inked a contract to expand its services to 10 additional airports pan-India, following the initial launch in Bengaluru in collaboration with a partner. The funds raised will play a vital role in supporting and accelerating the expansion of operations, it said. "We announce the launch of E-Maas platform BillionElectric accompanied by the successful completion of our seed funding round. Over the last two years of product development and software innovation, this is our significant investment, sa

Fintech firm Indifi raises Rs 290 cr in funding round by ICICI Venture

Company plans to expand its operations and expand small businesses' access to working capital finance

Course5 Intelligence announces second close of $53 million funding round

Investment was led by Nuvama Asset Management, with participation from Carnelian Asset Advisors

BlackRock cuts Byju's valuation again. This time by 62% to $8.4 billion

However, Byju's recently secured $250 million in fresh funding at a valuation cap of $22 billion

Ambani-backed EV maker aims to raise $85 mn, seeks $359 mn valuation

The company, which counts billionaire Mukesh Ambani among its backers, is seeking a valuation of around $350 million in the new round, said one of the people

Smartwatch maker Noise seeks to raise $40-50 mn to expand in growing market

Nexxbase Marketing Pvt, which sells smartwatches and earphones under its Noise brand, seeks funds to add products and gain market share in its home base of India

Foreign VC funding in India declines 72% as unicorn machines stutter

Foreign money plays a crucial role in start-up funding in India