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Small towns, retail investors central to fintech’s AMC plans

Economic Times

Economic Times · 1y ago

Small towns, retail investors central to fintech’s AMC plans

New generation asset management companies (AMCs) are targeting retail investors and small towns to establish themselves in the market. Companies like Groww MF, Zerodha Fund House, and Navi Mutual Fund are leveraging digital distribution and passive investment products to attract investors. These AMCs have seen significant retail participation, with a considerable share coming from beyond the top 30 cities in India. Although their assets under management (AUM) are small compared to established players, these fintech startups see potential for growth in the passive market and aim to expand their investor base.

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Retail chain SuperK raises $6 million led by Blume Ventures, others

Thehindubusinessline

Thehindubusinessline · 1y ago

Retail chain SuperK raises $6 million led by Blume Ventures, others

SuperK, a franchised retail chain for small towns in India, has secured $6 million in a Series A funding round led by Blume Ventures. The startup plans to utilize the funds to enhance its technology infrastructure, expand its team, and scale its platform for connecting digital native brands with SuperK customers. Founded in 2020, SuperK currently operates in over 80 Tier 3, 4, and 5 towns in Andhra Pradesh, providing a better and more organized grocery shopping experience to customers in small towns.

Startups take the DMart playbook to smalltown India—investors like the idea

Livemint

Livemint · 8d ago

Startups take the DMart playbook to smalltown India—investors like the idea

A new trend in India sees value-retail startups like SuperK, Apna Mart, and Aap ka Bazar attracting significant venture capital by focusing on small towns with tech-enabled retail formats. These startups aim to compete with established players like DMart and Reliance's Smart Bazaar by offering affordable and high-utility products. Notably, investors such as Flipkart co-founder Binny Bansal and CaratLane founder Mithun Sacheti are showing keen interest in this evolving retail landscape.

Frendy raises Rs 2 Cr in debt from UC Inclusive Credit

Entrackr

Entrackr · 1y ago

Frendy raises Rs 2 Cr in debt from UC Inclusive Credit

Retail tech small format grocery chain Frendy has raised Rs 2 crore or about $239K in a debt round led by UC Inclusive Credit. The startup has collectively raised a total of Rs 42 crore to date including the debt. Frendy’s existing investors include Auxano Capital, AT Capital (Singapore), Desai Ventures, Let’s Venture, MARV Capital (New York), and Metara Ventures (Singapore) The proceeds will be used to fund its central inventory needs to feed its network of Frendy Marts & Micro Kiranas in tier III towns of Gujarat The firm claims to have a revenue of Rs 82 Cr for FY23 and aims to double its sales in the next 12 months as the brand expands its geographical footprint. Founded in 2019 by Sameer Gandotra, Frendy is building a network of modern neighbourhood grocery mini marts for consumers in small towns and villages of India. Ahmedabad-based Frendy currently operates 25 marts and 2,000 micro kiranas across rural Gujarat. It aims to scale it’s business to 100 marts and 3,000 micro kiranas in the next 12 months. Frendy’s marts are also digitally connected to a cluster of micro-kiranas (mom-and-pop stores) and their end customers, allowing Frendy to build a last mile digital commerce bridge to serve a wider range of rural consumers.

Dairytech Startup Frubon Bags Series A Funding To Grow Retail Footprint Across North India

Inc42 · 1y ago

Dairytech Startup Frubon Bags Series A Funding To Grow Retail Footprint Across North India

Jaipur-based startup Dev Milk Foods, which sells ice cream and dairy products under the brand Frubon, has raised an undisclosed amount in a Series A funding round. The funding was led by Fireside Ventures and Pi Ventures, along with participation from angel investors. Frubon plans to use the funds to expand its retail presence in North Indian cities, enhance production and distribution capabilities, and introduce new product offerings. The company currently operates in 40 cities and towns in North India and sells its products through various retail channels.

Retail investors eye shareholder category for better IPO allotment; upcoming issues to watch

Money Control

Money Control · 10m ago

Retail investors eye shareholder category for better IPO allotment; upcoming issues to watch

The IPO market in India is booming, with numerous companies going public. Retail investors are particularly interested in IPOs that offer a 'shareholder' category, as this increases their chances of getting allotted shares. Some upcoming IPOs that may have a shareholder category include NTPC Green Energy, HDFC Bank's subsidiaries HDB Financial Services and HDFC Credila, Ather Energy, Hero MotoCorp's subsidiaries Ather Energy and Hero Fincorp, SJVN Green Energy, Coal India's subsidiaries Bharat Coking Coal and Central Mine Planning and Design Institute, Asirvad Micro Finance (a subsidiary of Manappuram Finance), Canara Robeco AMC (a subsidiary of Canara Bank), and Belstar Microfinance (a subsidiary of Muthoot Finance).

Corporate bonds meet arbitrage: a smarter, tax-efficient play for fixed income investors

Economic Times

Economic Times · 12d ago

Corporate bonds meet arbitrage: a smarter, tax-efficient play for fixed income investors

Investors seeking stability and tax efficiency in fixed income are turning to a strategy combining corporate bonds with arbitrage opportunities. Gautam Kaul, a senior fund manager at Bandhan AMC, highlights this blend offers stable returns with tax advantages. The Bandhan Income Plus Arbitrage Fund of Funds invests in corporate bonds and arbitrage funds, providing a diversified, tax-efficient investment. This approach appeals to both retail and institutional investors amid changing interest rates and market dynamics.

Consumer brands Superk, Woodsmen and agritech platform Elevate raise early stage funds

VCCircle

VCCircle · 1y ago

Consumer brands Superk, Woodsmen and agritech platform Elevate raise early stage funds

Indian consumer brands Superk and Woodsmen, along with agritech platform Elevate, have successfully raised funds in their respective funding rounds. Superk, a franchised retail chain operating in small towns in India, raised $6 million in a series A round led by Blume Ventures. Woodsmen Mountain Whiskey manufacturer, Ginglani Distillers, secured Rs 12.5 crore in a series A funding round, with participation from Finfirst Group and Anthill Ventures. Finally, agritech firm Elevate Foods raised $525,000 in seed funding led by Wavemaker Impact, to facilitate small-scale Indian farm-gate processors' access to international markets.

TAC Infosec IPO Day 2: Vijay Kedia Backed SaaS Startup’s Public Issue Oversubscribed 22.8X

Inc42 · 1y ago

TAC Infosec IPO Day 2: Vijay Kedia Backed SaaS Startup’s Public Issue Oversubscribed 22.8X

TAC Infosec's IPO was oversubscribed 22.82 times on the second day, driven by strong demand from retail investors. The public issue received bids for 4.61 crore shares against 20.23 lakh shares on offer. The retail individual investors quota was oversubscribed 41.4 times, while non-institutional investors oversubscribed their quota by 14.2 times. The company plans to raise INR 29.9 crore through the IPO, which will close on April 2. TAC Infosec offers cybersecurity solutions to businesses and small enterprises and reported a profit after tax of INR 1.94 crore in H1 FY24.

How much did Vivriti AMC return to its investors on closure of first fund?

VCCircle

VCCircle · 1y ago

How much did Vivriti AMC return to its investors on closure of first fund?

Vivriti AMC recently announced the closure of its first fund, and investors were curious to know the returns they would receive. While the exact figures were not disclosed, Vivriti AMC stated that the returns were substantial. This news highlights the success of the first fund and showcases Vivriti AMC as a promising investment opportunity for the future.

Small town-focused retailer SuperK raises $6 million from Blume Ventures, others

Economic Times

Economic Times · 1y ago

Small town-focused retailer SuperK raises $6 million from Blume Ventures, others

Indian retail supermarket SuperK has raised $6 million in a funding round led by Blume Ventures, with participation from other investors including Silver Needle Ventures and Veltis Capital. The funds will be used to enhance the company's technology capabilities and physical infrastructure. SuperK currently operates 125 stores in 80 towns, focusing on smaller areas with populations ranging from 20,000 to 500,000. The company plans to develop a consumer-facing app and bring digitally native brands to its customer base. SuperK aims to achieve revenue of INR 80-85 crore in FY24.

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