Page 13 - Start Ups
Aerem raises $2.5mn in pre-series A funding led by Blume Ventures
Aerem was founded in 2021 by Anand Jain who comes with a strong background in both financial services and solar
 "Aerem raises $2.5mn in pre-series A funding led by Blume Ventures")
HDFC Life invests in 'Z3Partners Tech Fund' to aid digital entrepreneurs
Z3 Partners has already backed startups like Cyfirma, DealShare, Gramophone, Shipsy, and True-Fan
 "HDFC Life invests in 'Z3Partners Tech Fund' to aid digital entrepreneurs")
Unacademy 'not efficient' in finances, will shut some businesses: CEO
Unacademy, valued at $3.44 billion, will restrict business class travel end meals and snacks as complimentary perk at the startup
 "Unacademy 'not efficient' in finances, will shut some businesses: CEO")
Startup funding in India declined 40% between April and June, says PwC
Geo-political instability appears to be taking a toll on the Indian startups with the total funding declining by 40 per cent to USD 6.8 billion in the April-June quarter, reveals a PwC India report.
 "Startup funding in India declined 40% between April and June, says PwC")
SoftBank to bet on smaller ticket size for the second Vision Fund
The two funds together have invested over $11-12 billion in the country. Together with Softbank's direct investment, this goes up to $14 billion
 "SoftBank to bet on smaller ticket size for the second Vision Fund")
Rajeev Misra may raise $8-10 bn for his new fund, in talks with gulf royals
Sources say it is also possible that Son may invest some money in the fund through Softbank or other vehicles, although this could not be confirmed
 "Rajeev Misra may raise $8-10 bn for his new fund, in talks with gulf royals")
Indian startups raised $6.9bn in the June quarter, down 33% sequentially
They raised $6.9 bn in Q2CY22 against $10.3 billion raised in Q1CY22; funding winter is a result of the market slowdown
 "Indian startups raised $6.9bn in the June quarter, down 33% sequentially")
Fintech startup Finvu AA raises $2.5 million in seed funding for expansion
Finvu AA will use the fresh funds to expand the team in engineering, and business development and enhance its product offerings
 "Fintech startup Finvu AA raises $2.5 million in seed funding for expansion")
StanPlus aiming under-10-minute arrival time for an ambulance in one year
Managing a fleet of close to 3,000 ambulances, StanPlus now claims to dispatch ambulances in under four minutes and reach the patient in under 15 minutes
 "StanPlus aiming under-10-minute arrival time for an ambulance in one year")
Startups should think of credit solution for small businesses: Vaishnaw
Vaishnaw urged consumer tech companies to leverage Open Network for Digital Commerce (ONDC), India's alternative in its e-commerce market
 "Startups should think of credit solution for small businesses: Vaishnaw")
Insurtech startup Ensuredit raises $4.2 mn from Cover Genius, others
Insurtech startup Ensuredit has raised USD 4.2 million (about Rs 33 crore) in a Pre-Series-A round led by Cover Genius, 9Unicorns, NexStep Discovery, CP Ventures, Venture Catalysts and IPV
 "Insurtech startup Ensuredit raises $4.2 mn from Cover Genius, others")
2021 start-up ranking: Gujarat, Karnataka emerges as best performers
Top performers among the larger states include Kerala, Maharashtra, Odisha and Telangana
 "2021 start-up ranking: Gujarat, Karnataka emerges as best performers")
Guj, K'taka best states in providing strong ecosystem for startups: DPIIT
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by DPIIT.
 "Guj, K'taka best states in providing strong ecosystem for startups: DPIIT")
Edtech startup Kreedo raises $2.3 million in pre-Series A funding
Founded in 2012 by husband-wife duo Mridula Shridhar and VK Manikandan, Kreedo is on a mission to change the way early learning is delivered in budget private schools and preschools
 "Edtech startup Kreedo raises $2.3 million in pre-Series A funding")
Zetwerk buys Pinaka Aerospace to expand defence manufacturing business
Zetwerk has made two other acquisitions and the total value of all three deals is approximately Rs 100 crore
 "Zetwerk buys Pinaka Aerospace to expand defence manufacturing business")
50K startup workers stare at job loss as India preps for 200 new unicorns
As startups in India keep firing their staff to navigate through the 'funding winter' and more than 60,000 can lose their jobs in 2022 alone, the country is preparing to welcome 200 unicorns
 "50K startup workers stare at job loss as India preps for 200 new unicorns")
AquaExchange raises $3 mn from Endiya Partners, Accion Venture Lab
The company will deploy the capital in strengthening its technology, e-commerce operations & expanding its farm automation footprint to over 100,000 acres of farms by the end of FY23
 "AquaExchange raises $3 mn from Endiya Partners, Accion Venture Lab")
Retail tech firm Arzooo raises $70 mn in Series B led by Japan's SBI group
Existing investors Celesta Capital and 3 Lines VC also participated in this round, along with Trifecta Leaders Fund and Tony Xu, the Founder of Doordash
 "Retail tech firm Arzooo raises $70 mn in Series B led by Japan's SBI group")
India will have 122 new unicorns in 4 years: Hurun Research report
In just one year, the number of such startups has increased by 65%
 "India will have 122 new unicorns in 4 years: Hurun Research report")
Flipkart Grocery leans on smaller towns in bid to reach 20,000 PIN codes
Flipkart Grocery currently offers 7,000 products in 1,800 cities covering 10,000 PIN codes, served by 23 fulfilment centres spread over an area of 2.75 million sq ft
 "Flipkart Grocery leans on smaller towns in bid to reach 20,000 PIN codes")
