Page 24 - Fundings

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

From 350 in 2014 to 90K, Indian startups mushroom amid funding winter

Within a couple of years, India became the third largest startup ecosystem in the world, only behind the US and China

Funding for agrifoodtech startups declines 33% to $2.4 bn in 2022

Funding in Indian agrifoodtech startups declined 33 per cent during the last calendar year to USD 2.4 billion on higher base, according to AgFunder and Omnivore joint report. "Agrifoodtech startups in India raised a total of USD 2.4 billion in 2022, down 33 per cent from 2021. The number of deals also declined to 133 in 2022, compared to 230 deals in 2021," said India AgriFoodTech Investment Report 2023. The funding stood at USD 3.6 billion during the 2021 calendar year. "The agrifoodtech startup ecosystem in India mirrored the global slump in venture capital funding in 2022. Funding dropped 33 per cent to USD 2.4 billion in 2022, from USD 3.6 billion in 2021. Euphoric startup valuations, alongside easy money, drove investments to a record-breaking high in 2021, followed by a swift correction," the report said. Despite the fall, it noted that the sector is a critical emerging space in India for transforming agriculture and ensuring food security. As per the report, late-stage ...

AI platform Builder raises over $250 mn led by QIA in Series D funding

AI-powered software platform Builder.ai on Tuesday announced it has raised over $250 million in its Series D funding led by Qatar Investment Authority (QIA)

Battery-tech startup EMO Energy raises $1.2 million in seed funding round

Battery-tech startup EMO Energy on Tuesday said it has raised USD 1.2 million (nearly Rs 10 crore) in a seed funding round led by Transition VC and co-led by venture capital firm Gruhas. EMO offers battery packs for light electric vehicles (EVs) using its proprietary cell agnostic technology, ZEN provides fire safety and 20-minute fast charging among other features. It aims to implement battery-powered solutions in high power and high energy applications to aid decarbonisation, a release said. "Transition VC and Gruhas are the ideal early-stage partners for our mission as they're just as committed to implementing safe, reliable battery technology at scale. We believe that their insight, expertise, and perspective are going to be instrumental to our success as a startup," EMO Co-founder & CEO Sheetanshu Tyagi said. On its investment in EMO, Transition VC Co-founder & Managing Partner Mohammed Shoeb Ali said, "As the EV landscape in India continues to evolve, concerns pertaining

PhonePe raises additional $100 million from PE firm General Atlantic

Walmart Inc-owned payments firm PhonePe said that it has secured an additional $100 million from private equity firm General Atlantic, in the latest round of its ongoing $1 billion fundraising

Speed Kitchen raises undisclosed amount in funding led by Inflection Point

Cloud kitchen services provider Speed Kitchen has raised an undisclosed amount in seed funding round led by Inflection Point Ventures with participation from high net-worth individuals and angel investors. The kitchen-as-a-service provider for delivery-focused brands will use the funds for expansion and swell the footprint pan-India. Inflection Point Ventures (IPV) has so far invested over Rs 550 crore across over 170 deals. "We at Speed Kitchen are aiming to become the leading Cloud Kitchen infrastructure in the Indian market, the first step of which is to expand to 20-plus locations and cross 200 operational kitchens by the end of FY23-24," Paurav Rastogi, Founder of Speed Kitchen, said. At a CAGR of 39 per cent, the cloud kitchen industry has been valued at USD 800 million in FY22, which is expected to reach USD 1.9 billion by 2026.

Cash crunch pushing up funding costs in India deterring more RBI hikes

The weighted average call rate, an overnight funding cost rate the central bank monitors, was at 6.78% on Wednesday, above the upper band of the Reserve Bank of India's interest rate corridor, of 6.75