Page 19 - Startups

SoftBank's Vision Fund hikes valuation of Swiggy, Ola Electric, FirstCry

SoftBank's Vision Fund is also increasing its focus on companies which can benefit from the artificial intelligence revolution

Insurtech startup Bimaplan raises $3.5 mn in pre-series A funding round

Company will use the money to improve technology platform, expand distribution

STPI starts inviting applications for LEAP programme to fund 75 startups

State-owned STPI has started inviting applications from startups under its Leap programme to fund entrepreneurs in collaboration with venture capitalists and other private investors, a senior official of the organisation said on Monday. Software Technology Parks of India (STPI) will select 75 startups under the programme this year and facilitate funding of up to Rs 1 crore in each startup in collaboration with venture capital firms and angel investors. "We have already invested Rs 25 lakh through NGIS. We have already made investment in about 100 startups from the total fund that we have. Through Leap we are looking to nurture the next 100 startups," STPI Director General Arvind Kumar said. He said that the Leap (Launchpad for Tech Entrepreneurs towards Accelerated growth and Pioneering Ahead) will be organised at places closer to startups in cities like Bhubaneswar, Chandigarh, Vijayawada with an idea that they should not be required to leave their city for growing their ...

DIEZ launches AED 500 mn venture capital fund to finance tech startups

The new fund was launched on the sidelines of the Dubai Business Forum, which is being organised by Dubai Chambers under the patronage of Sheikh Mohammed bin Rashid

Taking a lead: Startups beat corporates in gender inclusivity race

Women account for 35% of people employed in startups, compared to 19% in the corporate sector, shows a study

Top 5 government schemes for startups in India to support entrepreneurs

The government has started several schemes to help budding startups and entrepreneurs grow businesses in India successfully. Here is the list of the top 5 government schemes for startups in India

ICAR-IARI signs pact with IIT Kanpur to support incubators, startups

Agriculture research body ICAR-IARI has signed an agreement with IIT Kanpur to support incubators and startups. "A Memorandum of Understanding (MoU) was signed today between Pusa Krishi, ICAR-Indian Agricultural Research Institute here and Start-up Incubation & Innovation Centre (SIIC), IIT Kanpur," an official statement said. Pusa Krishi is a special-purpose initiative of ICAR-IARI (Indian Council of Agricultural Research Indian Agricultural Research Institute). It is an agri-innovation hub transforming agriculture through entrepreneurship and innovation. The MoU was signed virtually by Viswanathan Chinnusamy, Joint Director (Research) IARI and Professor Ankush Sharma, Department of Electrical Engineering, SIIC IIT Kanpur. Through this pact, both sides will provide vital support to incubators and startups, fostering their growth and success. Pusa Krishi and SIIC IIT expressed their commitment to explore and establish further collaborations to drive advancements and innovations .

Insurtech player InsuranceDekho raises $60 mn in Series B funding round

This is the second fundraise for the Gurugram-based startup in 2023, taking its total fundraise to $200 million

COAI says OTTs paying Fair Share Charge won't violate net neutrality

The principle of net neutrality mandates that all internet providers give its users equitable access to all content and applications on the internet without any discrimination

Startups form 40-member task force to take on Google Play Billing System

Google will soon make a presentation before the task force and it will then decide the further course of action

P&G India announces Rs 300 cr fund for startups for supply chain solutions

FMCG maker Procter & Gamble India on Thursday announced a Rs 300 crore fund to collaborate with external partners and innovators for co-creating solutions for a modern supply chain ecosystem. P&G Supply Chain Catalyst Fund will provide an opportunity to startups and innovators to collaborate with Procter & Gamble (P&G) India on customising business solutions, accelerating its journey towards Supply 3.0 initiatives, said a statement from the company. This is a part of Rs 1,800 crore committed in business solutions through vGROW, in which the maker of brands like Gillette, Whisper, Vicks is investing in small businesses, individuals and large organisations offering innovative solutions. "The announcement is in line with the Prime Minister's Gati Shakti initiative, which is an endeavour towards multi-modal connectivity in the country that will enhance seamless movement of goods and services through targeted interventions," the statement said. Commenting on the ...

Zepto tops startup list as most preferred workplace among professionals

14 of the 20 startups on this year's LinkedIn list are new entrants

I-T dept notifies 'Angel Tax' rules for valuing investments in startups

The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method. Nangia & Co LLP Partner Amit Agarwal said the amendments to Rule 11UA of the Indian Income Tax Act bring positive changes by offering taxpayers flexibility through multiple valuation methods, simplifying the ...

Investments in Indian agri-tech startups fell 45% between FY22-FY23: Report

Investments in Indian agri-tech startups fell by 45 per cent between 2021-22 and 2022-23 fiscal years, primarily due to a hike in global interest rates and heightened investor caution amid rising uncertainty, reveals consulting firm FSG's new report. Meanwhile, global agri-tech investments declined by 10 per cent between calendar years 2022 and 2023, it said. Going forward, FSG expects the funding slump to continue into FY24 before springing back in FY25. It expects that startups will continue focusing on profitability to tide over the next financial year. "Investors are likely to continue being cautious and direct their limited funding towards established business models, such as follow-on funding for companies in the mid-stream agri-tech category," it said. Commenting on the trends identified by the firm, Rishi Agarwal, Managing Director, Head-Asia, FSG, said, "The shift in investment dynamics highlights the Indian agri-tech sector's sensitivity to global economic trends. Startup

India fourth in number of startups with over $50 mn funding: Scaleup Report

In the survey involving 12,400 startups, India is ranked fourth with 429 scaleups, after the US (7,184), China (1,491), and the UK (623)

Centre working on action plan to increase investments in startup sector

Officials said that ministries will have to expand their capacity to support the growing number of startups in the country

Instacart founder Apoorva Mehta exits with $1.1 bn fortune after IPO

The transition marks the end of Mehta's 11-year tenure with the company he co-founded in 2012

Big Tech companies meet: Govt to clear air on digital data privacy

MeitY officials have already conducted meetings with consumer protection groups who have pushed for immediate enactment of the Privacy Act

Vertex Ventures' SEA and India arm raises $541 mn, expands investor base

Vertex Ventures Southeast Asia and India (VVSEAI) on Tuesday said it has raised USD 541 million (about Rs 4,489 crore) in a funding round. The VVSEAI Fund V exceeds its target fund of USD 450 million (about Rs 3,734 crore) and is 80 per cent larger than VVSEAI Fund IV raised in 2019, the company said in a statement. The new Fund V raise comes on the heels of cash-on-cash returns from VVSEAI's portfolio and successful exits from its investments in companies such as Grab, FirstCry, XPressBees, Recko, and others. The fund is backed by existing and new limited partners like Japan Investment Corporation (JIC), International Finance Corporation (IFC) and DEG (a German development finance institution), sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe. "Our earlier funds have had superior cash-on-cash returns and are outperforming benchmarks. This track record led most of our investors from VVSEAI Fund IV to return as investors in VVSEAI

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