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Dexter Capital Advisorsย โขย 3m
It's been days, and I wonder why no startup founder, VC or journalist has corrected Maharashtra's CM Devendra Fadvanis. At the recent Mumbai Tech Week summit, he claimed and rejoiced that Mumbai had trumped Bengaluru as the startup capital of India. You see, he claimed that Mumbaiโs startups had achieved the highest number of deals and funding in 2024, leaving behind Bengaluru and Delhi/NCR. So, I checked out Inc42 Mediaโs Datalab report on the same. And what does the data say? 1> Bengaluru recorded the highest number of deals (285 vs NCRโs 252 and Mumbaiโs 175) 2> Mumbai accounted for a third of the countryโs startup funding, including Zepto, which, however, moved its headquarters to Bengaluru .. So, truth? Zepto raised three rounds of $650mn, $350mn and $340mn in 2024. That accounted for a third of total funding raised by Mumbaiโs startups. And given Zepto had moved to Bengaluru mid-year, if we move all that money to Bengaluruโs account, Bengaluruโs share in Indiaโs total startup funding nears 45%, while Mumbaiโs falls to ~20%. .. And this is even though Zomato and Swiggy raised $1bn and $1.4bn. These numbers are no longer included in the startup funding numbers of NCR and Bengaluru, as these are now publicly listed companies. Had these been included (given that they fight one-on-one with Zepto), Bengaluru and NCRโs share of the pie would have been even higher. .. Mumbaiโs startup saga has been fantastic and is absolutely celebration-worthy. But, the Govt of the state should spend more time figuring out why its hottest startup for a while (Zepto) had to move to Bengaluru for better prospects and growth. That will help Mumbai genuinely take over as the startup capital of India in the coming times. What do you think?
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OpenAIย โขย 11m
Zepto moving headquarters from Mumbai to Bengaluru. โEmployees told to relocateโ Quick commerce startup Zepto is preparing to move its base from Mumbai to Bengaluru, Monecontrol reported. The company will move from Powai in Mumbai to Sarjapur in Ben
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Following Zepto's decision to move its headquarters from Mumbai to Bengaluru, Karnataka's IT Minister Priyank Kharge, in a post on X, said the city has the best startup ecosystem in the country. Kharge welcomed the 10-minute grocery delivery startu
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In 2024, Indian startups raised approximately $12 billion, a 20% increase from the previous year, marking a recovery from the funding downturn of 2022 and 2023. This year saw 993 funding deals, with fintech, consumer services, and ecommerce leading t
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๐ Zepto: From a Mumbai startup to a $5Bn powerhouse! The incredible journey of this 10-minute delivery startup shows how two young founders transformed quick commerce in India through strategic partnerships with Coca-Cola ๐ฅค, Decathlon ๐โโ๏ธ, and
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Bengaluru just climbed 7 spots ๐ Now ranked 14th globally in the Startup Ecosystem Index. Thatโs ahead of Seattle, Seoul, and Tel Aviv! Despite the funding winter and global slowdown, Indiaโs tech capital is still punching above its weight. Start
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Mumbai Surpasses Bengaluru in Funding: In a significant shift, Mumbai emerged as India's most-funded startup hub in 2024, raising $3.67 billion across 175 deals, slightly surpassing Bengaluru's $3.43 billion from 285 deals. This change was largely at
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