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Inside India’s Soonicorn Club: The Sectors, Hubs That Will Mint India’s Next $1 Bn+ Ventures
Inc42
·
1y ago
Medial
A recent report by Inc42 titled "Unicorns of Tomorrow - Decoding India's Soonocorn Landscape Report, 2024" reveals that there are 112 Indian startups on track to become unicorns, with valuations ranging from $200 million to under $1 billion. These soonicorns have a combined valuation of over $40 billion and have raised more than $15 billion since 2014. Interestingly, only 8% of them are profitable, with fintech being the sector fostering the most number of soonicorns at 36, followed by e-commerce with 19 startups. Peak XV, Tiger Global, and Accel are among the investors with the most soonicorns in their portfolios.
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Community startup Hack2Skill raises $1M in debt and equity
IndianStartupNews
·
1y ago
Medial
Hack2Skill, a platform dedicated to hackathons, has secured $1 million in a funding round co-led by Recur Club and String Ventures. The platform aims to transform how communities and corporations manage hackathons by offering tools for registration, team matchmaking, event timelines, and more. With a community of over 3 million tech enthusiasts, Hack2Skill plans to use the funding to strengthen its marketing, product innovation, and sales functions. The strategic investment from Recur Club and String Ventures will help accelerate the platform's growth and enhance its AI capabilities.
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InfoEdge Ventures-backed Recur Club launches $17 mn platform for D2C brands
VCCircle
·
6m ago
Medial
Recur Club, backed by InfoEdge Ventures, launched a $17.3 million platform to support direct-to-consumer (D2C) startups in the quick-commerce sector. The platform will partner with lenders to provide loans ranging from Rs 1-8 crore. This initiative targets the increasing working capital demands as brands expand inventory and marketing efforts. Founded by Eklavya Gupta and Abhinav Sherwal in 2021, Recur Club aims to support 30-45 startups by linking debt funding with their cash flow.
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Next Bharat Ventures to invest in 13 startups; Arva Health, CredResolve bag funding
VCCircle
·
5m ago
Medial
Next Bharat Ventures is set to invest in 13 impact-driven startups and has launched a community called The Why Club to support entrepreneurs in India. Arva Health, a fertility-care startup, secured $1 million in pre-seed funding and plans to expand its tech-enabled clinics. CredResolve, an AI-driven collections platform, raised $1.1 million in a seed round led by UNLEASH Capital Partners, aiming to enhance its recovery workflows and improve lender services in India.
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India Eyeing $200 Bn In Ecommerce Exports By 2030: Govt
Inc42
·
10m ago
Medial
Commerce Secretary, B.V.R. Subrahmanyam Barthwal, has stated that the Indian government aims to contribute 10% to global ecommerce exports within the next five years. To support this goal, the government is developing ecommerce export hubs to connect small and medium enterprises with global markets. This announcement follows the recent extension of export-related benefits to shipments made through courier mode by the Central Board of Indirect Taxes and Customs.
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RIL to invest Rs 50,000 cr in Assam in five years; set up AI data centre, mega food park, double Reliance Retail stores: Mukesh Ambani
Business Today
·
5m ago
Medial
Reliance Industries Limited (RIL) plans to invest Rs 50,000 crore in Assam over the next five years, establishing an AI data centre, a mega food park, and doubling Reliance Retail stores. Announced at the Advantage Assam Summit, the investment will also support compressed biogas hubs and a seven-star Oberoi Hotel. This initiative is expected to create significant employment opportunities and benefit sectors like agriculture and bamboo, enhancing Assam's presence in national development.
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Funding, market framework for deep-tech startups in two months
Livemint
·
1y ago
Medial
The Indian government plans to create a ₹1 trillion fund to provide long-term loans at low or no interest rates to startups in deeptech sectors such as space exploration, high-end chips, and defence technology. The fund, part of India's National Deeptech Startup Policy, aims to support companies in these sectors that struggle to secure capital. An inter-ministerial committee led by the Department of Space is working on the framework for the fund, which is expected to be announced in the next two months. The fund will also focus on nurturing research, innovations, standards and market access for deeptech ventures.
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DaaS platform Swish Club raises $4.5 Mn in pre-Series A
Entrackr
·
5m ago
Medial
Devices-as-a-Service (DaaS) platform Swish Club has secured $4.5 million in a pre-Series A funding round, including $3.3 million in equity and $1.2 million in debt financing. The equity round was led by Powerhouse Ventures, along with participation from Blume Ventures, Founders Fund, Touchstone Ventures, Eternal Capital, and Atrium Ventures. The round also included other investors such as Livspace’s Anuj Srivastava, Ajit Reddy, Deb Dutt, and Tushar Patel. The Bengaluru-based company had previously raised $1.26 million from its existing investors and others. Founded in 2023 by Dushyant Sapre, Suraj Kumar, and Jai Anand, Swish Club is a one-stop solution for enterprise devices, end-point management, and security software. The platform handles the entire lifecycle of a device, from sourcing, configuration, administration, security, and safe returns to upgrades. According to Swish Club, DaaS also allows enterprises and their employees to choose their preferred laptops and smartphones from manufacturers like Apple, Samsung, HP, Dell, and Lenovo and partners with more than 125 enterprises. Swish Club claims to have onboarded over 125 enterprise clients, including Max Life Insurance, Bennett and Coleman, HDFC Life Insurance, PepsiCo, Informatica, Philips, GMR, RPG Group, Landmark Group, and Zensar, as well as startups such as Whatfix, Zetwerk, Meesho, Plum, Allen, Porter, Bold Care, FamPay, Zolvit, Qila Games, and Addverb. "Managing corporate devices is a complex, multi-step process involving procurement, financing, asset management, and eventual recycling. Each step requires different vendors, leading to cost implications, lack of transparency, and multiple back-and-forths. Swish Club is simplifying this with India’s first digital Device-as-a-Service (DaaS) platform, helping businesses remove these depreciating assets from their balance sheets and reduce IT costs from 10% to just 3% of total capex—all with just a few clicks through a dedicated platform," said Dushyant Sapre, CEO & Co-founder of Swish Club. Swish Club states that under its Device-as-a-Service (DaaS) solution, it has introduced India’s first digital platform for laptop rentals for enterprises and smartphone leasing for corporate employees. The enterprise device rental solution comes with four free pre-bundled software solutions: Asset Management Portal (AMP), Mobile Device Management (MDM), antivirus, and device cleaner. In India, Swish Club competes with unorganized players, while at the global level, it faces competition from companies such as Grover and Everphone.
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JSW Cement backer Synergy Capital hits first close of $1 bn private credit fund
VCCircle
·
3m ago
Medial
Synergy Capital, led by Sudhir Maheshwari, marked the first close of its Asia-focused private credit fund, raising $715 million towards a $1 billion target. The Dubai-based firm, specializing in private equity, credit, and special situations, has prior success with a $1.2 billion deployment and $850 million through nine exits. The new fund will focus on industrial and infrastructure assets, aiming to deploy $400 million by year-end, including acquisitions from India’s GMR Group.
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Soonicorn Ventures gets Sebi nod to launch Rs 250 crore angel fund
Economic Times
·
1y ago
Medial
Soonicorn Ventures has received approval from SEBI to establish a Category-I Alternate Investment Fund (AIF) with an initial corpus of Rs 250 crore, expandable to Rs 500 crore through a green-shoe option. The Gurugram-based investment platform aims to invest in startups across various sectors, including Drone Technology, B2B SaaS, Electric Vehicles (EV), FinTech, and Supply Chain Logistics. They plan to build a portfolio of 30 startups in the current year, emphasizing flexibility for investors and assisting syndicates with fund-as-a-service. CEO CA Vijay Singh Rathore expressed pride in achieving this milestone in under 8 months despite funding challenges.
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Netflix to invest $1 billion in Mexico over next 4 years
Economic Times
·
5m ago
Medial
Netflix plans to invest $1 billion in Mexico over the next four years, producing around 20 films and TV series annually. CEO Ted Sarandos announced the investment, highlighting partnerships with local producers and the economic benefits, such as job creation and tourism. The investment builds on previous successes like "Roma" and "Club de Cuervos." Netflix will also collaborate with Estudios Churubusco and fund programs to support behind-the-camera talent in Mexico.
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