Startup India

PM Modi is laser-focussed to help startups: MoS Rajeev Chandrasekhar

Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, on Tuesday interacted with over 100 startups and venture capitalists (VCs), and assured them that the Narendra Modi government

Number of recognised startups rises to 86,713 in Dec 2022 from 445 in 2016

As many as 86,713 startups have been recognised by the government as on December 31, 2022, Parliament was informed on Wednesday. These startups are eligible to avail fiscal incentives under the Startup India action plan of the government. "As a result of sustained government efforts, the number of recognized startups has increased from 445 in 2016 to 86,713 in 2022 (as on December 31, 2022)," Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In a separate reply, he said in the UT of Ladakh, 1,006 industrial units have been established with total investment of Rs 122.71 crore after bifurcation of erstwhile Jammu & Kashmir state. On the other hand, Jammu & Kashmir has received investment proposals worth Rs 26,650.49 crore.

Bluelearn raises $3.5 mn in seed funding from Elevation Capital, Lightspeed

Titan Capital, 2am VC, a few angels also invested; Bluelearn, which began as telegram channel for students, has over 150,000 members from 5,500 colleges and startups across 20 countries

DPIIT to undertake third party assessment of Startup India Seed Fund Scheme

The Department for Promotion of Industry and Internal Trade (DPIIT) is in the process of undertaking a third party assessment of Startup India Seed Fund Scheme to see its impact on the ground, a senior government official said on Friday. The Rs 945-crore scheme was launched in 2021. It aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization. The fund was divided into four years for providing seed funding to eligible startups through eligible incubators across India. Joint Secretary in DPIIT Shruti Singh said though the department has received "good" feedback from incubators and startups on the scheme, "we are still doing a third party assessment so that somebody on ground can go and see". Over 85,000 startups have been registered with DPIIT, she told reporters here. Startup India was launched by the government on January 16, 2016. Under Startup India, to provide capital at various stages of t

BharatPe CEO enjoying life with money I raised, fails to grow: Ashneer

Despite Delhi High Court's, Ashneer Grover took a serious dig at Suhail Sameer, saying the BharatPe CEO is unable to help the fintech firm grow

SoftBank Vision Fund loses $7.2 billion on back of tech writedowns

The Vision Fund segment lost 1.02 trillion yen in July-September, following a 2.33 trillion yen loss in the June quarter. Overall, the Japanese conglomerate logged net income of 3.03 trn in last qtr

Agritech startup Otipy appoints Rohit Sood as chief business officer

Agritech startup Otipy, a marketplace for fresh fruits and vegetables, has appointed Rohit Sood as the Chief Business Officer to drive the next phase of business expansion. Rohit is a senior retail and e-commerce leader having more than 16 years of experience in setting up and scaling business at well-known retail & e-commerce companies like SPAR, Carrefour, Snapdeal, Paytm Mall and JioMart. "In his previous stint he was the growth marketing head for JioMart at Reliance Retail where he was responsible for demand generation for the JioMart B2C platform," the company said in a statement. Otipy is currently serving more than 5 lakh customers in Delhi-NCR and Mumbai. More than 20,000 farmers across Haryana, Uttar Pradesh, Delhi, Gujarat, Himachal Pradesh, Karnataka, Rajasthan and Maharashtra supply Otipy with its produce. Otipy is operated by Crofarm Agriproducts Pvt Ltd. It was launched in 2020 by Varun Khurana.

Largest ever contingent of India Inc participates in GITEX Global 2022

India had the highest number of participating companies after the host, UAE, at the four-day event

Govt to provide collateral-free loans to start-ups under CGSS framework

The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers)

India's rich club grows to 1,103; Zepto's Kaivalya youngest in Hurun list

More than 82% of the billionaires on the list are above the age of 50, and only 0.6 per cent of the rich in the list are below the age of 30, said the Hurun India study

IIT-K startup incubator chosen as lead coordinator of ASEAN India festival

The Start-up Incubation & Innovation Centre (SIIC), the technology business incubator at IIT Kanpur has been selected as the lead coordinator from India for the 'ASEAN-India Start-up Festival 2022'.

Axis Bank eyes 10% stake in Go Digit life insurance business: Report

Axis is planning to take a 10% stake for around $9 million in the start-up's upcoming life insurance business, effectively valuing the business at $90 million

Why Bengaluru might get a 'unicorn' logo and where it might be placed

A unicorn logo. That's how Karnataka hopes to celebrate Bengaluru, a city that has the most number of startups and unicorns in the country

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

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

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

Sequoia India's Surge programme extends seed fund range up to $3 million

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

Bengaluru ranks 5th globally for tech VC investments in 2022: Report

The city's tech firms have raised $7.5 bn in tech venture capital investment so far in 2022 - more than any other year previously

The rise & rise of Byju's: The edtech startup's journey explained

In this podcast, we explained the reasons behind Byju's rapid surge in valuation and funding and company's future plans to tap global markets. Tune in

Agritech startup Otipy raises $32 million from investors to expand business

Agri-tech startup Otipy, which mainly sells fresh vegetables and fruits through its mobile app, has raised $32 million (Rs 235 crore) from investors including Westbridge Capital to grow its business