Page 19 - Startup

Mela Ventures closes its first fund at Rs 320 cr

The fund was oversubscribed by 1.6x times from first close target

Tata Steel to set up unit for medical material, to buy bio-ceramics startup

The firm's wholly-owned subsidiary, Tata Steel Advanced Materials, will pick up 90% stake in Advanced Ceramics

OTO achieves Rs 100-cr disbursal for 11k vehicles via its commerce platform

OTO, founded in 2018 by IIT-Mumbai alumnus Sumit Chhazed and Harsh Saruparia, has facilitated in sale and financing of over 11, 000 vehicles, of which approximately 2, 700 vehicles are electric

Neobanking start-up Niyo raises $100 mn in Series C funding round

This Series C round of funding was led by Accel & Lightrock India with participation from Beams Fintech Fund

Loyalty solutions provider Xoxoday raises $30mn from Giift, Apis Partners

The investment includes both primary and secondary capital components, and the collaboration will enable both Giift and Xoxoday to enlarge their service offerings and accelerate growth globally

Rakesh Jhunjhunwala-backed furniture maker bags Rs 75 cr in funding

Arrivae raises Series B investment from Think investments and Havells

Proptech startup Facilio raises $35 mn from Dragoneer, Tiger Global, others

Facilio offers a unified software platform that leverages an AI-led predictive engine to help real estate portfolios digitise processes and optimise their property operations

Vymo raises $22 mn in series C round from BII, Sequoia, existing investors

BII's Rohit Sood will be joining the company's board

Edtech startup LEAD announces ESOP liquidation plan of $3 mn for staff

Edtech start up LEAD on Wednesday announced an ESOP Liquidation Plan of about USD 3 million (about Rs 22.5 crore) for its employees. The move comes at a time when LEAD is aiming for a "high growth trajectory" following the recent series E fundraise of USD 100 million led by WestBridge Capital with participation from GSV Ventures. The company attained the 'unicorn' status with that funding at a valuation of USD 1.1 billion. A startup with a valuation of over USD 1 billion is called 'unicorn'. LEAD, in a statement, announced an ESOP (Employee Stock Option Plan) Liquidation Plan of close to USD 3 million for its employees. The current ESOP liquidation plan is a "significant opportunity," given that LEAD's valuation has doubled in the last nine months on the back of strong growth in operating and financial metrics, the statement said. Its co-founder and CEO, Sumeet Mehta said, Our success would not have been possible without the relentless efforts of our teams. I'm delighted that we

Yes Bank launches start-up enabler programme for food and agri sector

Yes Bank has launched a programme for digital financing solutions in the food and agriculture sector under its start-up enabler initiative

Over $7 billion raised by Indian start-ups in Q4 2021, says report

More than USD 7 billion was raised by Indian start-ups during the fourth quarter of 2021, which was 18 per cent higher than the previous sequential quarter, according to a report. The report by NASSCOM and Praxis Global revealed that fintech and retail tech were the top sector in Q4 CY21 (calendar year 2021) cornering almost 46 per cent of the total funding. As many as 14 new unicorns were added in the Indian tech start-up ecosystem in Q4 2021. "6 out of 14 Unicorns added in Q4 CY21 are from retail tech and fintech sector," according to the report. A startup with a valuation of over USD 1 billion is called unicorn. According to the report funding continued to be strong and steady, and about USD 7.2 billion funding was received in this quarter. This was 18 per cent higher on a quarter-on-quarter basis. India continued to see strong acceleration both in the volume and the multiplicity of the startups in CY21, it said. The fourth quarter remained strong for startup ecosystem with ...

SaaS start-up Oloid raises $12mn in funding for product, tech talent

The Series A funding brings Oloid's total raised since inception to $17 mn. It will be used to help expand Oloid's retrofit access control products portfolio and teams in Bangalore and Silicon Valley

Xpressbees raises $300 mn in unicorn round, some major investors exit

Logistics start-up that works in 3000 cities across India is valued at $1.2 billion.

Compliance automation start-up Sprinto raises $10 mn in Series A funding

Since its website launch in June 2021, Sprinto claims to have doubled its annual recurring revenue over the last 10 weeks

IFC-backed Mintifi raises $40 million from Norwest Venture, Elevation

The IFC-backed Mintifi, a B2B-focused buy-now-pay-later platform, has raised USD 40 million (about Rs 300 crore) in its series-C round led by Norwest Venture Partners and Elevation Capital

Digital meeting platform Airmeet raises Rs 260 cr in series-B funding round

Digital meeting platform Airmeet on Tuesday announced to have raised Rs 260 crore in series B funding from new as well as existing investors.

Wealthy.in raises Rs 56 crore in funding round led by Alpha Wave

Bengaluru-based wealth management platform Wealthy.in on Tuesday said it has raised Rs 56 crore in Series A round of funding led by Alpha Wave Incubation. New investor Savrola Group and existing investors Venture Highway, Good Capital & Emphasis Ventures also participated in the round. "With the latest round of funding, Wealthy.in plans to penetrate deeper into the Indian market as well as expand in international markets like the Middle East," the company said in a statement. Founded by Aditya Agarwal and Prashant Gupta, Wealthy.in claims that it is managing client assets worth USD 450 million. "For a long time, we have been known as a country of great savers but not great investors. However, we are seeing signs of a structural shift in the market, where investors want to manage their life's savings through a diversified pool of products. Through our tech-enabled platform and holistic offering, Wealthy.in is well positioned to lead this market shift, Agarwal said. Good Capital .

Gaming start-up Atirath raises undisclosed amount in seed fund from Kalaari

The company develops games in casual and strategy genre and is preparing products for the metaverse.

Jio acquires 25% stake in deep-tech startup Two Platforms for $15 mn

Two Platforms is an artificial reality company with focus on building interactive and immersional AI experiences

Logistics SaaS startup FarEye announces second ESOP buyback programme

Aimed at rewarding and recognizing employees' dedication and hard work in driving FarEye's growth over the last year, this is the company's second buyback and largest to date.