Page 19 - Startups In India

Only 11% investment in deep tech start-ups, need more seed funding: NASSCOM

India's deep tech startups need higher seed and early stage funding to grow faster as only 11 per cent of technology-related funds reach this ecosystem as of now, National Association of Software and Services Companies (NASSCOM) president Debjani Ghosh said on Friday. Deep tech or deep technology startups are enterprises that work in the area of emerging technologies like artificial intelligence (AI), robotics, quantum, blockchain, Internet of Things (IoT), drones and augmented reality (AR). Speaking at a workshop on 'Startups and Entrepreneurship: Vision India@2047', organised by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce, Ghosh pointed out that of the total 25,000-plus tech startups in the country, only 3,000 are related to deep tech that account for only 12 per cent. India has some excellent deep tech startups working across the entire range of emerging technologies, but only 11 per cent of total technology-related funding i

Start-up meltdown continues as pre-IPO investors look to sell stake

Paytm shares go down 10 per cent after SoftBank pares holding; Delhivery, PolicyBazaar under pressure

Alternative fuel start-up Buyofuel raises Rs 11.5 cr in series A funding

The funds raised will be put towards expanding the company's services across geographies, development of product offerings as well as technology

EV start-up Chargeup raises $7 million in pre-series A1 funding round

The EV market in India is expected to grow aggressively from 2 million to 80 million vehicles by 2030 as per government estimates

About 100 start-ups registered with Isro, says Chairman S Somanath

Chairperson of Indian Space Research Organisation (ISRO) S Somanath on Thursday said about 100 start-ups were registered with the space agency. Addressing a plenary session here at the Bengaluru Tech Summit 2022 on R&D of India Innovation for Global Impact,' he said ISRO has signed memoranda of understanding with companies to work closely, which include hand-holding in space technology and building processes from start to finish. He said a number of companies have the potential to become big players in the space sector and ISRO was playing as a facilitator and helping in building technologies. He said out of the 100 start-ups at least 10 were working on developing satellites and rockets. Somanath announced that Chandrayaan-3 mission would be in orbit in a few months and that ISRO was working with NASA. India needs a thriving space sector, the ISRO chairman said adding the country was looking at how to expand the sector in the days to come. We have to work on cutting-edge ...

BharatX to invest Rs 122 cr in indigenous start-ups over next 18 months

Startup accelerator BharatX will invest USD 15 million (about Rs 122 crore) over the next 18 months in the Indian startup ecosystem, the firm said on Thursday. A joint venture between India Accelerator and think-tank Council for International Economic Understanding (CIEU), BharatX will invest Rs 1-5 crore in each startup during the first edition of the accelerator programme. "The number of startups in India rose from 471 in 2016 to 72,993 by June 2022, which is fuelling the Indian tech wave. To build a Swadeshi Startup Ecosystem in India, BharatX announces to inject USD 15 million over the period of 18 months to build and scale nationwide," BharatX said in a statement. The swadeshi startup ecosystem in India has been developing with the growth of emerging technologies, young talent and infrastructure to support them. And BharatX works as a growth enabler to support that ecosystem, the statement said. "With India becoming the third largest startup ecosystem in the world, ...

Ronnie Screwvala-led upGrad to hire 1,400 amid edtech sector turbulence

Signs up new leases for 335K sq ft space in Mumbai, Bengaluru, Pune and Noida

Balaji Srinivasan invests unknown sum in blockchain start-up Permissionless

Company to use the funds to scale the number of contributors on the platform, create more integrated productivity tools for borderless and asynchronous work

Mobility solutions provider Automovill raises Rs 2.15 cr in funding

Company offers services for car owner, has presence in 20 cities and caters to 150,000 customers

VC firm Quona Capital announces close of its third fund at $332 mn

Company has invested in more than 17 start-ups in India, has almost 30% of its global team in country

India's ambassador to US asks CEO of TAC Security to help start-ups

India's ambassador to US Taranjit Singh Sandhu has asked Trishneet Arora, Ludhiana-born 28-year-old founder and CEO of TAC Security, to help startups in India. Arora's prodigious cyber security skills are making a mark not just in India but even globally. "From Punjab to California! Good interaction w/ young entrepreneur @TrishneetArora, Founder & CEO @tac_security, leading cyber security firm," tweeted Sandhu after meeting Trishneet. According to Sandhu's tweet, they discussed cyber threats, technology and knowledge parternship and the importance of mentorship and skill development. Sandhu said he encouraged Arora to help startups in India including those in Punjab. Arora said, "He (Sandhu) was quite impressed with what we are doing at TAC Security and encouraged me to help entrepreneurs in India and Punjab, my native state." "I will certainly give back to my motherland in more ways than one," he said, adding that ambassador Sandhu is immensely concerned about the future of ...

India is becoming world's start-up capital: Microsoft India's Sangeeta Bavi

Start-ups going through ups and downs is a reflection of the economy and the market, says Bavi

India Space Congress enables startups to partner in $1.5 trn space economy

With a view to nurture the growing interest of deep space tech startups in India, India Space Congress, 2022 (ISC'22) announced a number of initiatives to showcase excellence

Several startups in India may lose their Unicorn status, says report

In total, around 105 start-ups in India attained the status of Unicorns between 2018 and 2022 but the active number of unicorns has now been reduced to 84

Start-up PickMyWork says will take up 500,000 gig workers in FY23

Gurugram-based company assists clients in getting customers, saving them cost and effort

We bet on startups catering to the middle of the pyramid: Arkam co-founders

In a Q&A, Bala Srinivasa and Rahul Chandra, explain why it is essential for any company today to service the Middle India market in the country's smaller towns in order to thrive

Start-ups tap venture debt to stay afloat amid funding winter, say experts

The venture debt market is becoming popular within the start-up ecosystem with a lot of new funds coming up and limited partners also showing their interest in financing such investments

Alteria announces first close of third venture debt fund at Rs 1,000 cr

The firm now has an AUM of Rs 3,800 crore across its three debt funds, raised from domestic investors

Kaivalya Vohra: The Standford dropout who took startup ecosystem by storm

In an interview with Business Standard, Kaivalya Vohra talks about dropping out from Stanford and starting his venture, the current startup scenario and the future of quick commerce in India

Fireside Ventures announces $225-mn fund for investment in Indian startups

Venture capital firm Fireside Ventures on Wednesday announced closing of its third fund at USD 225 million or Rs 1,830 crore, which it plans to invest in Indian startups over a period of the next 10 years. The new fund is double the size of its previous fund. "We have closed out Fund III at USD 225 million which is about Rs 1,830 crore. We plan to invest Fund III in 25-30 startups in keeping with the Fireside thesis of digital-first consumer brands, across the spectrum of health and wellness, edutainment, lifestyle and FMCG," Fireside Ventures Partner Kannan Sitaram said here. According to Fireside Ventures, the market for D2C brands in India is set to touch USD 100 billion by 2025. Fireside Ventures has invested in 31 brands that include The Baker's Dozen, boAt, Mamaearth, Bombay Shaving Company etc. Launched in 2017, Fireside Ventures with the close of its Fund III has Rs 3,000 crore (USD 395 million) of assets under management. "The first fund had a corpus of Rs 340 crore and