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Seed funding drops 25% in 2024 as VCs retreat
Economic Times
ยท
7m ago
Medial
Seed funding in India experienced a 25% decline in calendar year 2024 as investors remained cautious. Despite this, startups managed to secure $11.3 billion in overall funding, marking a 6% increase compared to the previous year. Pre-IPO and late-stage funding rounds gained popularity due to the shorter paths to liquidity and stronger returns they offer. Seed-stage funding dropped to $971 million from $1.3 billion in the previous year. The decline in seed funding can be attributed to new venture capitalists pulling back from the market, while institutional investors continue to invest steadily. Deep-tech funding, on the other hand, saw an 11% growth. Late-stage funding and early-stage startups performed well in 2024.
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Startup funding drops 59% to 12 deals this week
Economic Times
ยท
1y ago
Medial
Startup funding in the last week of February 2024 declined by 59% in terms of volume, with only 12 deals totaling $171 million. Late-stage funding accounted for 73% of the overall deal value, while the seed stage accounted for 18%. February saw a total of $516 million raised across 82 rounds. The top deals included a $100 million funding round for logistics startup Shadowfax, a $27 million round for blockchain technology company Avail, a $20 million round for payments provider Mswipe, a $12 million round for luggage brand Mokobara, and a $4.5 million round for mobility platform IntrCity.
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Reliance Retail writes Off $200M investment in Dunzo amid financial struggles
YourStory
ยท
7m ago
Medial
Reliance Retail has written off its $200 million investment in Dunzo amid the company's financial struggles and retreat from quick commerce. Reliance, holding a 25.8% stake since January 2022, is no longer part of funding discussions. Dunzoโs leaders, including Kabeer Biswas, have stepped down. The startup seeks an acquisition deal valued at $25-$30 million, having faced salary payment issues despite aiming for profitability. Most investors, including Google, have exited the board.
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Minifeel raises INR 3 crore in pre-seed round led by 100X.VC
Startup News FYI
ยท
2y ago
Medial
MiniFeel, a startup, secures INR 3 crore in a pre-seed funding round led by 100X VC, as reported on July 25, 2023. The investment will support the company's early-stage development and growth.
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VCs double down on fintech Coast, which aims to be the Brex for 'real-world' industries VCs double down on fintech Coast, the 'Brex for real-world industries'
TechCrunch
ยท
1y ago
Medial
Coast, a fintech startup focused on expense management for businesses with fleet operations, has raised $25 million in equity funding and $67 million in debt financing. The company offers an expense management software and a commercial charge card designed for fleet operators in industries such as trucking, plumbing, and delivery services. Coast's platform provides detailed visibility into employees' spending, integrates with fleet management software, and offers real-time data on vehicle status and location. The funding will be used to expand Coast's capabilities and financial product offerings to fleet operators.
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DoT Kicks Off Shark Tank-Style Funding Initiative To Connect Startups With VCs
Inc42
ยท
1y ago
Medial
India's Department of Telecommunications (DoT) has launched a funding initiative, inspired by Shark Tank, to support startups in advanced technologies. The DoT will connect these startups, specializing in areas such as quantum communications, 5G-enabled AI drones, and cyber security, with venture capitalists (VCs). Over 25 startups recently pitched their ideas to 13 VCs, including international participation from the UK and Uganda. Talks for funding are already underway for some startups. This initiative aims to boost India's tech economy and foster innovation and growth.
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UAE establishes global leadership in artificial intelligence, high-tech innovation
Economic Times
ยท
10m ago
Medial
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, attended the UAE-Uzbekistan Government Knowledge Exchange Retreat in Tashkent. The retreat aimed to enhance knowledge exchange and strengthen the strategic partnership between the two countries. Sheikh Hamdan emphasized the UAE's commitment to building effective partnerships globally and praised the exceptional results achieved through the cooperation with Uzbekistan. The retreat focused on areas such as government administration, digital transformation, economic opportunities, and sustainable development. Discussions aimed to generate new ideas and solutions for progress in key sectors.
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KorinMi raises โน3 crore, turns profitable, expands D2C & clinics
Inshorts
ยท
3m ago
Medial
Indiaโs first Korean skin clinic, KorinMi, raised โน3 crore in pre-seed funding from Vikas Agarwal (ex-CEO, Kaya UAE), Vivek Kumar (Venture Garage), and others. Founded in 2024, it blends Korean tech with Indian skin needs. Profitable within six months, KorinMi runs two clinics and plans 25 more, while also entering the D2C space with professional Korean skincare for Indian consumers.
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Seed VCs are turning to new โpro rataโ funds that help them compete with the big firms
TechCrunch
ยท
1y ago
Medial
SaaS Ventures, along with other investment firms like Alpha Partners and SignalRank, are helping seed-stage and Series A VCs exercise their pro-rata rights. Pro-rata rights allow VCs to buy more shares in a company during subsequent funding rounds to maintain their ownership percentage. However, in later rounds, new lead investors often want their preferred allocation, potentially squeezing pro-rata investors out of the round. These investment firms provide capital to seed-stage VCs, enabling them to participate in later rounds and exercise their pro-rata rights. The trend of funds dedicated to pro-rata rights is gaining traction as VCs face challenges in funding these rights due to higher valuations.
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Funding Winter shuts over 35,000 startups in 2023. Will VCs fund tech ventures?
Livemint
ยท
1y ago
Medial
The Indian startup ecosystem faced numerous challenges in 2023, resulting in the closure of over 35,000 ventures, as per a report by Bain & Company and the Indian Venture and Alternate Capital Association (IVCA). Factors such as inflation, higher interest rates, softening global consumption, and geopolitical uncertainties contributed to a decline in funding. Deal volume and average deal size both decreased, with a shift towards more seed deals. Tech startups faced a decline, while traditional sectors like BFSI, consumer brands, and healthcare received more attention. Despite the challenges, India remained the second-largest destination for venture capital and growth funding in the Asia Pacific region.
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Wealthtech startups Dezerv, Stable Money buck trend to draw VCs
Economic Times
ยท
1y ago
Medial
Wealthtech startups, including Dezerv, Stable Money, Fisdom, Scripbox, and Angel One, are attracting significant equity funding. Dezerv is close to securing $30 million led by Premji Invest, while Stable Money is set to secure $17 million with RTP Global as the likely lead investor. Fisdom received $5 million from PayU, and Scripbox is reportedly looking to raise $25 million. Angel One intends to raise $240 million for its fintech operations. Wealthtech companies stand out as they have shown profitability and revenue growth, attracting investor attention.
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