Page 18 - Indian Startups

Public App raises Rs 300 crore from A91 Partners, existing investors

Social networking firm Public App on Wednesday said it has secured Rs 300 crore in funding from A91 Partners and existing investors. It had raised Rs 260 crore in funding led by Addition, SIG and Tanglin Venture Partners six months ago. "We are very excited to have A91 Partners join us in our journey towards building the world's largest location-based social network,"Azhar Iqubal, Founder & CEO, Public App, said in a statement. The company claims that political leaders, government authorities, media houses and citizen journalists are using the app to connect with communities. "With more than 5 crore active users in India, we first aim to connect the hyper-local communities of Bharat and later make the product Global," Iqubal said.

Maruti Suzuki shortlists three new startups under innovation initiative

Maruti Suzuki India (MSI) on Monday said it has shortlisted three new startups as part of its Mobility and Automobile Innovation Lab (MAIL) programme

Oyo's Singapore subsidiary secures $200 million term loan from SoftBank

Hospitality major OYO Hotels & Homes' Singaporean subsidiary has received a term loan from SoftBank.

Flipkart ramps up grocery operations; expands reach to over 50 cities

The pandemic has led to a sharp growth in consumer demand for e-grocery, not only in metros but also from tier 2 cities and beyond

Jeff Bezos versus Mukesh Ambani isn't the only fight in India's retail

Away from this high-profile fight for the ordinary Indian's wallet, a different contest is shaping up for control of what goes on shop shelves

PE/VC investments drop by 35% in January to $1.6 bn: EY-IVCA data

January 2021 recorded three large deals worth $680 mn compared to five large deals worth $1.4 bn in January 2019 and 12 large deals worth $6 bn in December 2020

After losing to WhatsApp, Kavin Mittal's Hike aims to rival Facebook

Despite becoming a hit early on thanks to quirky stickers and a privacy feature that let teenagers hide chats from parents, Hike's messenger app overtime failed to challenge the popularity of WhatsApp

Shiprocket raises $27 mn from Silicon Valley's Tribe Capital, March Capital

The e-commerce shipping firm processes more than 4 mn monthly shipments, enabling more than 100,000 sellers to sell directly to their consumers across India

Tips on raising funds from govt agencies and PE firms for your startup

Apart from central and state govt schemes that fund new ideas, you have PE/VC firms, angel investors and incubators to help your business see the light of day; just get your business model right

KreditBee concludes $75 mn funding round from Premji Invest, others

The fintech lending firm's objective is to provide credit to over 180 million new-to-credit customers who were not provided formal credit earlier

BharatPe set to become next unicorn after valuation crosses $900 mn

The fintech firm, which competes with players like Pine Labs, Paytm and Mswipe, provides payment technology and digital lending for offline businesses, including kiranas

India's internet startups on cusp of IPO, combined value at $180 bn: Report

India's internet startups leaders that operate business ranging from food delivery to e-commerce are now on the cusp of listing, a report said putting their combined value at $180 billion by 2025

Govt to incentivise incorporation of one person companies to boost startups

The government on Monday said it proposes to incentivise incorporation of one person companies (OPCs), a move that will benefit startups and innovators.

PE/VC investments in 2020 at par with 2019 at $47.6 billion, says EY-IVCA

Investments in Reliance Group entities worth S$17.3 billion accounted for 36% of all PE/VC investments in 2020

Indian startups attract $10.14 bn in funding in 2020, says report

Indian startups are estimated to have received USD 10.14 billion in funding across more than 1,200 deals in 2020 despite the COVID crisis, a report by consulting firm HexGn said.

Google, Lightbox, others invest $40 mn in e-comm, delivery startup Dunzo

Dunzo witnessed a robust growth amid the Coronavirus (Covid-19) pandemic and is now a $100 million annualised GMV value business

Salesforce Ventures leads funding round of $15 mn in tech startup Darwinbox

Darwinbox is a human resources technology platform and its technology powers more than 500 global enterprises with over 1 million employees spread across 60 countries

Smart toilets to rockets: Startups pitch innovations to PM Modi at Prarambh

Apps that improve lives of the visually impaired, mobile brick making machines, jackfruit flour that helps control diabetes and biodegradable PPE kits were other innovations on display

Nao Spirits and Beverages raises $2 million led by existing investors

Nao Spirits and Beverages on Monday said it has raised USD 2 million (around Rs 15 crore) in a funding round led by existing investors, family offices and a boutique VC firm. The company which is into premium craft gin space has now raised a total of USD 5 million (over Rs 35 crore) since inception in 2015. The company however did not disclose the investors of this funding round. The fresh Series A investment is expected to be utilized for expanding to new markets in India in states like Rajasthan, Haryana, Assam, Arunachal Pradesh and Meghalaya along with new export markets, the company said in a statement. Besides, it will also be used for brand promotion and marketing efforts, it added. "It has further been heartening to receive a very tangible vote of confidence from our new and existing investors who have got behind us in this time which has proven to be challenging for most," Nao Spirits and Beverages Co-Founder & CEO Anand Virmani, said. The company will now be able to ste

PM Modi urges youngsters to attend Startup India International Summit

Prime Minister Narendra Modi has called upon youngsters to attend 'Prarambh', the Startup India international summit on January 15 and 16, saying it seeks to bring together top minds from industry, academia, investment, banking and finance besides young start up leaders. He also shared his LinkedIn post in which he noted that virtual interactions have become the new normal during the COVID-19 pandemic and said a big advantage of this is that people can be a part of programmes sitting at home. "With most events being held virtually, it has given a great opportunity for youngsters to be a part of many interesting domestic & global forums. One such opportunity is coming up in the form of Prarambh on 15-16 Jan. I urge our youth to be a part of it," Modi tweeted on Monday. Being indoors for the most of 2020 meant everyone had to alter their work styles, the prime minister noted and said work from home is in, so is greater adapting to technology. "For me, it meant more programmes ...