Sequoia India

Video telematics startup Lightmetrics on Wednesday said it has raised USD 8.5 million (about Rs 69 crore) in a funding round from Sequoia Capital India. The Bengaluru-based platform uses edge AI and analyses video feeds from the camera installed in vehicles to better understand driver behaviour, and reduce accidents and improve safety. It claims to serve over 2,500 fleet across India, the Middle East, the US, Canada, Mexico, Brazil, Australia, and South Africa. The company will use the funds raised in Series-A round to strengthen its teams from the engineering, customer success, product, marketing, sales and analytics sides for growth. Lightmetrics was founded in 2015 by Soumik Ukil, Ravi Shenoy, Mithun Uliyar, Gururaj Putraya, Pushkar Patwardhan and Krishna AG, who had worked together at Nokia Research on computer vision and ML for cameras.

Though many of them expect limited near-term impact, lack of SVB-like support system may pinch them later

Surge combines up to $3 million of seed capital with company-building workshops, a global curriculum and support from a community of exceptional mentors and founders

Includes start-ups in climate tech, AI, metaverse, digital health, new e-commerce models

According to people in the know, investors may now ask GoMechanic founders to take leave of absence

Locad's logistics engine works with brands such as Levi's, Reckitt Benckiser, and Emma Sleep

The funding of late and growth-stage startups slowed down as private market investors became more cautious amid rising interest rates and fears of recession

Among the top brass leaving today were Vijay Aggarwal, Rajat Jain, Geetanshu Singla, and Nehul Malhotra

Out of all the investors, at least two major shareholders, Sequoia and Paradigm, have decided to mark their investments down to zero

The edtech giant has to sever 2,500 employees to avoid role duplication across businesses, says founder in a letter to employees

Sequoia India is reportedly planning to invest more than $50 million in K12 Techno Services, an edtech startup that provides a variety of services to educational institutions

The council was formed to strengthen governance practices for VCs and start-ups and continue working with govt and its agencies to improve the environment for venture capital in India

The story of how globetrotting tech star Ankiti Bose built and lost one of Asia's most vaunted startups

Company has more than 40 million registered users and it works with 50,000 merchants

Venture Capital firm Sequoia is bullish on India and has invested in several startups that are expected to become unicorns in the coming years, a report said. Recently, Sequoia Capital raised USD 2.85 billion to fund Indian and Southeast Asian startups despite the markets cooling after a very long bull run. The fundraising is Sequoia's largest so far for India at USD 2 billion with the rest committed to Southeast Asian startups. The fund house has stakes in 39 startups that could turn unicorns in 2-4 years, according to ASK Private Wealth Hurun India Future Unicorn Index 2022. In its 16th year of operation in India, Sequoia has some blockbusters in its kitty like Turtlemint, SaaS Labs, Classplus, DeHaat, Porter, Progcap, and CityMall, the report said, adding these have the potential to become unicorns in the next two years. Unicorns are startups with a turnover of USD 1 billion or about Rs 8,000 crore. Sequoia Capital in its recent communication said there is a strong sense in the

Venture capital firms Sequoia Capital and Tiger Global led funding in Indian startups during April-June, with the fintech sector attracting most of the USD 6 bn (about Rs 47,870 crore) investments

The latest round by OneCard, owned by Pune-based FPL Technologies, also saw investment from existing investors such as QED, Sequoia Capital, and Hummigbird Ventures

Founders have already taken salary cuts and this would be applied to the management as well

Helped disbursals to over 120,000 merchants in Q1FY23, up from 66,000 merchants in Q4FY22

Surge startups have collectively raised over $1.5 billion in follow-on rounds