Page 2 - Startup Ecosystem

BS Manthan: Plenty funds for right startups, Rajesh Magow on funding winter

Business Standard Manthan 2024: Rajesh Magow, the CEO of MakeMyTrip, on Thursday said he disagreed with the perception that there was a fund crunch in the startup ecosystem

Starburst Accelerator, IIT Madras join hands for €100 million startup hub

This partnership will enable export promotion and provide support for Indian ASD start-ups to explore international markets through the extensive network of Starburst

Influx of AI startups pumps up battle for technical talent in Europe

Founded in 2010 and acquired by Google in 2014, London-based DeepMind made its name applying AI to everything from board games to structural biology

India home to 8,000 women-led tech startups, Delhi-NCR tops list: Tracxn

Of the over 8,000 women-led startups, 2,316 have received funding while about 6,000 are unfunded. Women tech entrepreneurs have cornered 14.8% share of the overall tech funding pie at $23 billion

Govt launches Bharat Startup Ecosystem Registry to create database

The government on Thursday said it has launched a platform, Bharat Startup Ecosystem Registry, to create a comprehensive database with details about all the startup ecosystem stakeholders under one roof across different categories. Commerce and Industry Minister Piyush Goyal became the first person to register on the platform, signifying the government's commitment to nurturing India's burgeoning startup ecosystem. "The Registry will act as a one-stop database with details on all startup ecosystem stakeholders under one roof across different categories," it said. It is envisaged that the registry will facilitate easy access and discovery, fostering collaboration and growth within the ecosystem. "This one-stop platform will house detailed information on all ecosystem participants, facilitating easy access and discovery,' it said, adding that the registry will include various categories of entrepreneurs, including those in the early stages of ideation, social impact ventures, and ...

India startup boom: Goyal exhorts entrepreneurs not to 'miss the bus'

Terming startups as the backbone of new India, Union minister Piyush Goyal on Tuesday exhorted entrepreneurs not to "miss the bus" and make most of the opportunities as India transitions to become a 35 trillion dollar economy by 2047. India, he said, has emerged as a global leader, and its story is one of confidence, good governance and continued innovation. "I believe startups will be backbone of new India. This is our time under the sun, and the sun is rising," the minister for commerce and industry said at a curtain raiser event for upcoming 'Startup Mahakumbh'. "I hope we don't miss the bus. I hope the message goes loud and clear to all startups not to lose this opportunity," he said, adding that the upcoming mega event will showcase the startup revolution sweeping the country. Goyal exuded confidence that young Indians will shape the country's destiny in 'Amrit kaal'. "...It is this young India that is going to shape our destiny...as we transition from 3.5 trillion dollar eco

Bihar govt, SIDBI join hands to collaborate on enhancing startup ecosystem

The Bihar government and the Small Industries Development Bank of India (SIDBI) have signed an MoU in a bid to boost the startup ecosystem in the eastern state, officials said. The initiative is aimed at creating a conducive environment for startups and transforming Bihar into a startup hub, a SIDBI release said. "The Bihar Startup Fund Trust (BSFT) and SIDBI entered into an MoU to administer the Rs 50-crore Bihar Startup Scale-up Financing Fund' (BSSFF), it said. The BSFT is the nodal agency constituted by the Industries Department for implementation of the Bihar Startup Policy. Under the policy, the state government has set up the BSFT with an initial corpus of Rs 500 crore. Out of this, BSSFF has been established with an initial corpus of Rs 50 crore for scale-up funding support to startups, the release said.

From ecosystems to economics: The potential of a 'species stock exchange'

Creating interdependence between funding and ecological outcomes can establish an accountable framework, augmenting the efficacy of conservation initiatives

Apples to bats, Kashmir's startup scene gains momentum with foreign funding

Entrepreneurs are also tapping into JK Startup Policy and Shark Tank India

On Paytm crisis, startup founders write to PM, RBI to review curbs: Report

Paytm crisis: Last Wednesday, the RBI prohibited Paytm Payments Bank from accepting further deposits, crediting any transactions on customer accounts, digital wallets, etc, beyond February 29

Budget focused on economic resilience, creates opportunities for all

It carefully allocates public resources and commits to reduce the country's fiscal debt

$5 bn for EV, 20 unicorns women-led: Path of Indian startup boom since 2014

Despite the challenges due to persistent funding winter, Indian startups received $8.4 billion in funds from domestic and global investors in 2023

78% of startup founders are optimistic about fundraising in 2024: report

About 61% of company founders in India expect the pace of hiring in 2024 to either be the same as last year or dip a bit, according to the 'India Startup Outlook' report from venture debt firm InnoVen

Insurtech startup Bharatsure raises $1 million led by VC fund Capital-A

The company had previously raised $1.2 million in February 2022 which saw the participation of its existing investors

Over 50% DPIIT-recognised startups from tier-II and tier-III cities

The states of Gujarat, Karnataka, Kerala, and Tamil Nadu emerged as the "best performers" in developing a startup ecosystem for Indian entrepreneurs

Meesho turns profitable with losses halved to Rs 1,675 cr in FY23

The company's revenue grew 77 per cent to Rs 5,735 core

EV financing startup RevFin raises Rs 115 cr in Series B funding round

EV financing digital platform RevFin on Tuesday said it has raised USD 14 million (Rs 115 crore) in Series B funding round. Omidyar Network led the round with a USD 5 million investment, joined by the Asian Development Bank, Companion Capital Ltd, and existing investors Green Frontiers Capital and LC Nueva, the company said in a statement. With this funding, Revfin's total capital raised through debt and equity stands at Rs 625 crore, it said. Angel investors such as Dhiiraj Jain (Redcliffe Labs), Anuraag Jaipuria, Ruchi Rans Jaipuria, Rishi Kajaria, Let's Venture Angel Fund, Harash Jain, and others supported this journey, Revfin said. "This funding will empower us to further enhance the EV ecosystem and contribute to the growth of all types of electric vehicles in India. Our unwavering commitment to revolutionise digital lending remains strong, and we look forward to the opportunities ahead," Revfin Founder and CEO Sameer Aggarwal said. The latest capital infusion represents Revf

PE/VC investments dip to 43-month low of $1.6bn in November: Report

Investments by private equity and venture capital funds plummeted to a 43-month low of USD 1.6 billion in November, a report said on Tuesday. The investments were 69 per cent lower than the year-ago period and 60 per cent less than October, the report by industry's lobby grouping Indian Venture and Alternate Capital Association (IVCA) and the consultancy firm EY said. By volume terms, there were 58 deals in November 2023 as against 106 in the year-ago period and 73 in October 2023, the report said. Based on the available data, the consultancy firm's partner Vivek Soni said he anticipates PE/VC investments for 2023 to come at 10-12 per cent below the USD 56 billion in 2022. "This fall has been primarily fuelled by a sharp contraction in startup investments and a drop in number of large deals on account of the widening bid ask spread between investor valuations and seller expectations," he added. In November, there were six large deals of value greater than USD 100 million, aggregat

Proptech startup HouseEazy raises $1 million from investors as seed funding

HouseEazy, a vertical marketplace for resale homes, on Tuesday said it has raised USD 1 million (over Rs 8 crore) from investors as seed funding led by Antler. Other notable investors in the round include India Accelerator, AC Ventures, Agility Ventures, Finvolve Ventures and industry veterans like Pirojsha Godrej (Executive Chairperson at Godrej Properties) and Sandeep Aggarwal (Founder at Droom), the company said in a statement. Seeking to bring trust, transparency and convenience to secondary real estate transactions, HouseEazy is building a full-stack, data-driven technology platform to provide the best prices and instant liquidity to sellers and title-checked, refurbished, ready-to-move-in homes to buyers. HouseEazy founders Tarun Sainani and Deepak Bhatia, who previously worked together at Godrej Properties, bring over 25 years of combined experience in the real estate industry. According to Housing.com data, proptech companies have received USD 4 billion in funding since 200

Genrobotics chosen among top three Indian startups at global AI summit

Genrobotics, a Kerala-based startup acclaimed for leveraging technology for social change, has been adjudged among top three Artificial Intelligence (AI) startups of India at the Global Partnership on Artificial Intelligence (GPAI) Summit 2023 organised by the Ministry of Electronics and Information Technology in New Delhi. Genrobotic's G-gaiter Robotic Technology won the award in 'AI Game Changers' category at the December 12-14 summit held at Bharat Mandapam, inaugurated by Prime Minister Narendra Modi, a statement said on Saturday. S Krishnan, Secretary, Ministry of Electronics and IT presented the award to Afsal Muttikkal, Regional Director, Genrobotics Medical and Mobility and Arun Dominic, Regional Business Development Manager. Abhishek Singh, Additional Secretary, Ministry of Electronics and IT, was also present, it said. Genrobotics was honoured for its outstanding innovation in healthcare by developing G Gaiter --- an advanced AI-powered robotic gait trainer. G Gaiter tra