Food Tech Giant Zomato Sees 3% Share Rise, Market Cap at ₹2 Trillion in 2024 

zomato food giant

Zomato is an online food delivery platform that provides users with information, menus, and food  ordering services. The shares of the startup increased over 3 percent to Rs 232 per share after the  company announced its plans to raise the platform fees to Rs 6 applicable across Delhi and Bengaluru.  Following this news the startup reached market capitalisation of Rs 2 trillion. The stock price rose by 4  percent on the BSE in intraday trade.  

The Senior vice president and research Analyst at Elara Capital, Karan Taurani mentioned that the estimated annual orders of Zomato are around 87 crore, the increase in its platform will lead to a positive impact in EBITDA to Rs 85 to 90 crore which is around 7 percent increase in profitability. If the  same charges are applied to all cities the platform fee increase will lead to 35 points in profitability.  This is the fifth time the startup has increased its convenience fees in last year from Rs 2 to Rs 5. The  startup’s Gross Order Value also increased by 3.3 percent to 80 bps in the fourth quarter of this year.  

The food-tech startup offers an online platform to provide information, menus, and food ordering services. The company operates in 23 countries along with India and it plans to expand its network across the world. The startup has scaled its operations to meet the growing demands across all sectors  and improved its profitability. The company recently expanded its ESOP pool size for its employees by  offering them over 40 million stocks under its 2014 and 2021 schemes. The startup faces competition  from other companies such as Swiggy, Food Panda India, Deliveroo, Runnr, and more.  

Zomato reported its total net profit to be around Rs 175 crore for the fourth quarter of FY24. The IIFL  securities gave a “buy” rating to Zomato with a target price of Rs 230 for each share. The firm believes that the startup’s delivery growth and approach toward profitability across the quick commerce  market will support valuations. The company intends to expand its business while solidifying its  position in the food delivery and quick commerce Market. The company offers an online website and  mobile application to offer its services.  

Conclusion: 

Zomato saw a 3 percent increase in its share following the increase in convenience fees  announcement. The market cap of the firm crossed Rs 2 trillion for this year. The company recently  expanded its employee stock option Plan by allocating 40 million stocks worth Rs 892.19 crore. The  startup plans to increase the platform charges in Delhi and Bengaluru. The orders achieved by Zomato  annually are estimated to be around 87 crore. The company also crossed the Rs 2 trillion market cap. Karan Taurani estimated the EBITDA to grow at a CAGR of 35 percent in the next two years and increase  the rates by 21 percent in the same period.

AI Startup UptimeAI Raises $14M Series A Round Led by WestBridge Capital

uptimeAI

UptimeAI is an AI startup that offers AI-driven digital solutions to its clients to minimize losses and  maintenance costs while increasing workforce productivity. The startup secured $14 million in its  Series A funding round led by WestBridge Capital. The funding round saw participation from the  various new and existing investors including Emergent Ventures and the VC arm of Aditya Birla  Ventures, Aditya Birla ventures. 

The company plans to use these fresh proceeds to scale its operations, enhance its AI capabilities, and  expand its product portfolio while strengthening its market presence. The firm was co-founded by Vami  Yalamachili and Jagadish Gattu in 2019. The company offers an artificial intelligence platform to enable  businesses in the heavy manufacturing industry to reduce efficiency losses and increase productivity.  The CEO and co-founder of UptimeAI, Jagadish Gattu mentioned that the startup earns the majority of its revenue from the Middle East and the US markets. This funding helps the company’s go-to-market  and product strategy. This accounts for 90 percent of the total income of the startup and enhances the  offerings. 

The platform offered by Uptime AI predicts equipment failures before they occur, identifies the flaws,  and suggests optimization solutions to improve efficiency. Aditya Birla Ventures founder, Vikram Birla  highlighted that this startup offers strong returns on investments that impact large business clients  across India and the US. The firm invested in the startup because its vision aligns with UptimeAI. The  startup aims to support founders to build efficient businesses of tomorrow. The startup previously  secured $3.5 million in a seed funding round from Emergent Ventures in 2022.  

UptimeAI faces competition from other companies such as Augury and SparkCognition. The  development came just after the artificial Intelligence market was growing rapidly with increased  investor interest in the sector. The artificial intelligence sector is predicted to grow and reach the 47.8  billion USD mark in the next five years. This investment shows the trust of the firm’s investors in  UptimeAI’s market potential and business model. This funding will enable the startup to scale its  operations and offer innovative AI-driven digital solutions. 

Conclusion: 

UptimeAI is an artificial Intelligence startup that secured $14 million in its series A funding round. This  round was led by WestBridge Capital with the participation of new and existing investors including  Emergent Ventures and the VC arm of Aditya Birla Ventures, Aditya Birla ventures. The company  intends to use this fresh capital to scale up operations, enhance AI capabilities, expand its product  portfolio, and build a high-performing team. The startup leverages artificial intelligence and tech  solutions to help its clients to minimize losses and increase productivity. The platform predicts  equipment failures and provides various solutions to improve efficiency and productivity. The AI  startup earns 90 percent of its revenue from the Middle East and the US markets enabling the go-to market and product strategy. The company aims to revolutionize the AI sector with its AI-driven digital  solutions.

EV Financing Startup Perpetuity Capital Secures ₹7 Cr from N+1 Capital & RevX Capital

EV Financing Startup Perpetuity Capital

Perpetuity Capital is a fintech startup that offers an online loan lending platform for electric vehicles.  The startup secured Rs 7 crore through Non-convertible Debentures from RevX Capita and N+1 capital.  The company plans to use these fresh proceedsto scale its operations, enhance its lending capabilities,  and expand its network and loan book. This non-banking finance company enables asset ownership  for entrepreneurs. 

The fintech startup plans to expand its network in the regions of East India. The company aims to  promote the adoption of environment-friendly electric vehicle solutions across India. The firm was  founded by Karamveer Dhillon. The company helps delivery drivers and autorickshaw drivers to lend  money and purchase electric vehicles for commercial purposes. The company previously secured Rs 5  crore in a debt funding round led by Clime Finance in 2023. The recent funding round also saw the  participation of various new and existing investors of the startup. The CEO of Perpetuity Capital,  Karamveer Dhillon mentioned that this funding will enable the startup to provide more financial  solutions and help the firm to achieve a clean mobility mission to create a sustainable future. 

The company offers various lending solutions to its customers for electric vehicles. The firm provides  its services through an online website and a mobile application. The digital platform connects the  customers to banks and other NBFCs to provide loaning facilities. The company provides loans ranging  from Rs 50,000 to Rs 10 lakh according to the requirements of customers. The process of lending a  loan, approving and disbursing it takes less than 72 hours. The investment shows the trust of investors  in Perpetuity Capital’s market potential and business model. 

The startup will use this funding to scale its operations, improve its platform, and enhance its  technology. The EV fintech startup faces competition from other companies such as RevFin, Vidyut,  OTO, Revfin, Hero FinCorp, Finayo, and Mufin Green Finance. The amount raised from these Non  Convertible Debentures will be used to develop more efficient EV finance solutions with technological  advancement and increased performance. The company will mainly focus on the states of the eastern  region including Jharkhand and Bihar for its expansion. 

Conclusion: 

Perpetuity Capital is a fintech startup that secured Rs 7 crore from RevX capital and N+1 Capital through  its Non-Convertible Debentures. The startup intends to use this fresh capital to scale its production,  enhace its platform, expand its services in the eastern region, and enhance its lending capabilities. The  startup offers loans for electric vehicles and aims to promote environment-friendly EV solutions across  India. The director of investment of RevX Capital, Sushant Bhatia mentioned that they believe in the  startup’s vision. This collaboration aims to adopt clean technologies in Bihar and Jharkhand. The  development came just after the EV sector saw growing interest from investors. The predicted EV  finance market size is around 50 billion USD in the next six years.

IIT Madras Startup CeraTattva Innotech Secures Rs 1.3 Cr in Seed Round

IIT Madras Startup CeraTattva Innotech Secures Rs 1.3 Cr in Seed Round

CeraTattva InnoTech is a space tech startup under the Indian Institute of Technology Madras that raised Rs 1.3 crore in the seed funding round. This funding round was co-led by Campus Angel Network and  Forge Innovation & Ventures. The startup plans to use these fresh proceeds to scale its operations,  market expansion, open a pilot production facility, and deploy ceramic and pre-ceramic polymer  products.  

The startup manufactures specialty chemicals for defense, automobile, and space-related applications.  The CEO of CeraTattva Innotech, Dr. Ganesh Babu mentioned that this investment will enable the firm  to enhance their production capabilities and develop more innovative solutions and advanced  technologies for various sectors. The CEO of the campus angel network, Chandran Krishnan told  Business Line that the startup’s material science advancements and mission align with the investment  philosophy of Angels Network to support deep-tech and high-market potential companies. The Forge  Innovation & ventures mentioned that the startup’s transformation of polymers into ceramics is a  breakthrough in materials science for high-temperature applications in aerospace and defense  applications. 

The company collaborated with global and Indian Academia and industry to offer immense value to  the brands and customer outreach portfolio. The firm uses advanced technologies and [project  management services to provide the best user experience and satisfaction. This startup aims to  remove the gap between academia and industry while augmenting research quality and improving  product portfolio. The company offers a multi-functional platform to provide various ceramic-based solutions to its clients. This space tech startup aims to develop precise engineered bioinert ceramics and enter the energy storage sector in the next few years. 

This startup was first started as a lab-scale experiment however it has quickly evolved into a key player  in the Indian space tech ecosystem. The founders of CeraTattva showed their gratitude to the Indian  Institute of Technology for providing various opportunities and resources including the labs and  mentorship. This investment will help the startup grow and incorporate its technology to aim for market expansion. CeraTattva competes with other space tech and defense startups. The company is  currently focused on offering cost-effective fiber-spinning devices while expanding its product  portfolio.  

Conclusion: 

CeraTattva Innotech is a space tech startup under the Indian Institute of Technology Madras. The  startup secured Rs 1.3 crore in its seed funding round led by Campus Angel Networks and Forge  Innovation & ventures. The company intends to use this fresh capital to scale its operations, enhance  its platform, open a pilot production unit, and deploy pre-ceramic and ceramic polymer products. This  strategic investment raised by the multi-functional platform will bring favorable market shifts in the  space tech startup, leading to growth with a significant change in the global market. The firm aims to  remove the gap between academia and industry while augmenting research quality and improving its  product portfolio. The company plans to enter the energy storage sector in the next few years.

Fintech Startup Partior Secures $60M in Series B Round Led by Peak XV Partners

Fintech Startup Partior Secures $60M in Series B Round

Partior is a fintech startup that offers a platform that allows real-time and secure transactions involving  global commercial deposits and securities. The startup secured $60 million from Peak XV partners in  its Series B funding round. The funding round saw participation from new and existing investors  including Valar Capital and Jump Trading. The startup plans to use these fresh proceeds to scale its  operations, expand into the international market, enhance its platform, and integrate more currencies. 

The company aims to develop new services including cross-currency repos, intraday FX swaps, and  enterprise liquidity management. The CEO of Partior, Humphery Valenbreder mentioned that the  startup is rewriting rules for cross-border clearing and settlement. The company aims to create secure  blockchain-based frictionless cross-border transactions. The platform currently works with limited  currencies including the US Dollar, Euro, and Singapore Dollars however, it plans to expand access using  this investment. The company intends to strengthen its market presence while reaching more people globally. The managing director of Peak XV partners, Shailendra Singh mentioned that the startup is  extremely focused on its attempt to transform global money transfer among banks.  

This Singapore startup aims to develop a unified interbank payment system with immediate settlement  and clearing. The company is a joint venture between JP Morgan, Temasek, DBS, and Standard  Chartered. Partior enables financial market participations, banks, and other payment service providers  to join its platform and access cross-border, and real-time multi-currency transactions and settlement. Partior is used by financial service providers across the globe including New York, London, Hong Kong,  and Frankfurt. The investment shows the trust of Peak XV in the Partior’s market potential and business  model. 

The platform leverages advanced technologies, and the blockchain network of the firm can operate  with real-time local currency payment and real-time gross settlement systems globally by maintaining  both direct and indirect settlement flow with companies. The startup follows a unique approach that  sets it apart from other applications. The startup aims to make financial services easy, accessible, and  transparent to all. This fintech startup uses a technology-driven and blockchain approach to offer its  services in the financial marketplace. The development came just after the financial sector showed increased interest from investors. 

Conclusion: 

Partior is a fintech startup based in Singapore that secured $60 million in its series B funding round  from Peak XV partners with the participation of Valar Capital and Jump Trading. The company intends to use this fresh capital to enhance its platform, scale its operations, expand into the international  market, and integrate more currencies. The company aims to develop new services including cross currency repos, intraday FX swaps, and secure blockchain-based frictionless cross-border transactions. The startup plans to expand its network globally and make its platform accessible to more currencies.  The firm currently operates in limited currencies including the US dollar, Singapore Dollars, and Euro.  The company offers a platform that provides real-time clearing and settlement of its transactions.

Indian Startups Raise $138M This Week, Led by dezerv, Infra.Market, and Arya.ag

Indian Startups Raise $138M This Week

Indian startups made 15 deals from 7th July to 13th July. The amount raised from these deals was  around $138 million in funding this week. The total funding amount dropped by 22 percent compared  to the last week’s number. The overall Funding activity in India’s startup ecosystem declined this week,  as the number went from last week’s 176 million USD raised across 16 deals to 138 million USD across  15 deals. 

The Fintech startup, Dezerv led the overall list and the Fintech sectorial funding list this week. The total  funding amount secured by the startups in this sector was around 34.6 million USD raised across two  deals. The e-commerce sector led the list with $49.3 million raised across five deals. Dezerv secured  $32 million in its Series B funding round co-led by Premji Invest, Accel Partners, and Matrix Partners.  Arya.ag was the second on the list with $29 million raised. Goat Brand Labs is an e-commerce roll-up  startup that secured $21 million in a debt and equity funding round led by Mayfield, BlackRock, NB  Ventures, and others. 

The seed funding sector had an increase in funding this week, as it went up from last week’s $3.05  million to $8.33 million this week. A 173% increase in fundraising was seen at the seed funding level.  E-commerce startups had the highest number of deals and raised $49.3 million across five deals.  Infra.Market placed third in the amount of funds raised this week. The construction startup,  infra.market secured $22 million in its debt funding round co-led by Yubi and Samunnati with the  participation of IKF Home Finance, Raymond, and Vivriti Capital. 

Most of these startups were from e-commerce, healthtech, media & entertainment, fintech, and  enterprise tech sectors followed by real estate tech, and consumer services like Qaematek. Some other  major deals this week include the acquisition of GalaxEye Space company’s stake by IdeaForge for Rs  8.28 crore. Larsen & Turbo acquired semiconductor manufacturing startup SiliConch for Rs 183 crore.  GOAT brand labs secured $21 million in a funding round led by BlackRock, NB Ventures, and Matfield.  Deeptech startup iVP Semi also secured $5 million in its pre-series A funding round. 

Conclusion: 

15 deals were made by Indian startups from 7th July to 13th July securing over $138 million in funding.  Dezerv secured the biggest amount of $32 million in fundraising it dominated the funding trend in the  fintech sector. Other notable investments include agritech startup Arya.ag secured $29 million in its  pre-series D funding round led by Blue Earth Capital, Quona Capital, and Asia Impact SA. The e commerce startup, Infra.Market raised $22 million in its debt funding round led by Yubi with the  participation of Vivriti Capital, Samunati, Raymong, and IKF Home Finance. Most of these startups were  from e-commerce, deep tech, fintech, health tech, and media & entertainment followed by consumer  services, and real estate startups like Jugyah. E-commerce startups had the highest number of deals  and raised $49.3 million across five deals.

Drone Startup IdeaForge Approves ESOP Allotment Worth Rs 7.95 Cr

IdeaForge Approves ESOP Allotment Worth Rs 7.95 Cr

IdeaForge is a drone manufacturing company that announced the allocation of its employee stock  option plans with more than 96,000 stock options. These newly allocated employee stock option plan  shares are worth around Rs 7.95 crore. areas. The firm specializes in providing advanced logistic drone  solutions with cutting-edge technology that works even under bad weather conditions. 

The BSE filing mentioned that the board approved granting 95,954 equity shares at a face value of Rs  10 per share to those under the IdeaForge employee stock option plan. This allocation of shares is part  of the IdeaForge Employee Stock Option Scheme, 2018. These newly allocated stock options will follow  the same rights and status as the existing equity shares of the firm. After this allotment, the company’s  paid-up capital increased and stood out at Rs 42,98,59,540. On Friday, the shares for the startup closed  at 0.65 percent down to Rs 829. The startup also allotted 1,678 equity shares under its Employee Stock  Option Scheme 2018 in June and 3,000 equity shares in May this year.  

The ESOPs announcement came just after the company acquired the stake in a space tech startup  GalaxEye Space Solution for Rs 8.28 crore. GalaxEye is an IIT Madras-based company that develops  multi-sensor Earth Observation imaging satellites. The startup was already working with GalaxEye to  develop a drone solution with foliage penetration Radar. IdeaForge secured Rs 255 crore in a funding  round led by anchor investors in 2023 before its Indian stock exchange listing. The company offers  drones integrated with advanced technologies that function well and offer precise images even during  challenging conditions. 

The logistic startup reported a decrease of 30 percent in its consolidated profit after tax to Rs 10.3  crore in FY24. However, the operational revenue saw a 12.5 percent quarter-to-quarter to Rs 102.3  crore in the fourth quarter of this year. The drone startup has a three-fold increase in their investment  to $50 million this year, compared to the last year. According to a report by EY-FICCI, the drone sector  is predicted to grow its value for this sector at $23 billion by 2030. The Indian drone market is predicted  to grow in size and reach the $15 billion mark in the next six years. 

Conclusion: 

IdeaForge announced the allocation of its employee stock option Plan by issuing 96,000 stock options  to its employees. These newly allocated shares are worth around Rs 7.95 crore. The Mumbai startup  manufactures drones and offers innovative solutions using drones in mining, agriculture, surveillance,  and more. The BSE filing mentioned that the board approved the allocation of 95,954 equity shares at  a face value of Rs 10 per share. After this allotment, the paid-up value of the firm increased. The startup  reported that it previously issued 1,678 equity shares in June and 3,000 equity shares in May this year  under its ESOP 2018 scheme. The company also acquired Rs 8.28 crore worth of stake in the IIT Madras  incubated startup GalaxEye Space Solution.

NABARD to Launch ₹750 Cr Agri Fund for Indian Startups

NABARD to Launch ₹750 Cr Agri Fund for Indian Startups

National Bank for Agriculture and Rural Development is an All India Financial Institution that  announced the plans of its arm to launch a Rs 750 crore agri fund to help startups and rural enterprises.  This subsidiary of NADARD, NABVENTURES announced that the fund is called agri-SURE and will have  an initial corpus of Rs 750 crore with Rs 250 crore each from the Ministry of Agriculture and NABARD.  The remaining Rs 250 crore will be from other institutions. 

The initiative is taken by the organization to help startups and promote investment in technology driven, innovative, and high-risk activities in agriculture and similar sectors. NABVENTURES will  manage the fund and support around 85 agri startups with an investment of around Rs 25 crore per  startup. These startups will be offered mentorship and offer funds to help them cover service costs  such as packaging, and logistics. This fund will be used to support the startups through investments in  sector-specific, sector-agnostic, and debt Alternative Investment Funds. The company will also offer  direct equity support to startups when needed. The Indian startup ecosystem is expected to grow  rapidly in the next few years this is why the government is trying to help small companies to scale by  helping them with funds. 

The government aims to enhance the agri-produce value chains by creating new rural ecosystem  linkages & infrastructure. The scaling up of a company will generate more employment and support  Farmer-produced organizations. The fund also aims to encourage businesses through IT technologies,  machinery rental services, and advanced solutions. This focuses on driving sustainable growth with  the development of the agriculture sector. The main focus of Agri-SURE is to help these startups and  promote innovative and tech-driven initiatives in the agriculture sector. 

The government of India has been trying various programs to help the startup ecosystem grow. Earlier  this year, ONDC launched a DigiReady Certification Portal in partnership with the QualityCouncil of  India to enable small businesses to go digital. The portal enables small enterprises to join the ONDC  platform as sellers. Various known startups including Paytm, Ola, Meeship, and PhoePE already  integrated some of their services with ONDC. The announcement by NABARD came just after the  Indian Agritech sector saw an increase in its growth rate with the huge interest of investors in this  sector. 

Conclusion: 

The wholly-owned subsidiary of National Bank for Agriculture and Rural Development NABAVENTURES  plans to launch Rs 750 crore agri funds for Indian startups. The fund aims to help small and micro  businesses scale up while promoting investment in technology-driven, innovative, and high-risk  activities in agriculture. The organization will also offer direct equity support to startups. Agri-SURE  aims to promote innovative and tech-driven solutions in the agriculture sector. The government aims  to enhance the agri-produce value chains by creating new rural ecosystem linkages & infrastructure.  The Indian government has taken several initiatives to boost its startup landscape. Last month, ONDC  also launched a platform in collaboration with the Quality Council of India to help startups go digital.

MoEngage Set to Secure $35M–$50M from Goldman Sachs in Secondary Deal

MoEngage Set to Secure $35M–$50M from Goldman Sachs

Goldman Sachs plans to double its shares in the SaaS startup MoEngage and invest $30 million to $50  million in the firm through a second funding round. The company is looking to buy some shares from  the early investors of MoEngage in a secondary transaction. The source close to the deal told ET that  the terms are still being finalized and there may be discounts to the startup’s last valuation for Goldman Sach investment. 

The startup plans to use these fresh proceeds to scale its operations, enhance its research &  development, use advanced technologies, and expand its network while meeting general corporate  purposes. MoEngage is a customer management platform developed using data insights for consumer  brands. The platform leverages AI-driven insights and technologies to offer omnichannel experiences  to its customers. This startup helps brands to deliver their new products and messages across various  platforms through any channel. The firm uses artificial intelligence and behavioral analysis to provide  its users with customized experiences and help them reach the product they want in an easier and  faster way. 

This Bengaluru-based startup previously had a valuation of $700 million followed by a 77 million USD  funding round led by Bcapital and Goldman Sachs. The firm was co-founded by Raviteja Dodda and  Yashwanth Kumar in 2022 to offer brands with better customer engagement and reach. The startup  has secured around 182 million USD in funding to date. The company is backed by various known  investors including private equity firm Multiples, Eight Roads Ventures, and Matrix Partners India.  MoEngage analyzes customer behavior and develops a report to act on it at the given instant to offer  better customer reach. The platform allows the brands to improve customer engagement and drive  LTV. 

The company has leading companies in the industry as its clients including Oyo, Flipkart, MamaEarth,  Ola, and More. This investment shows the trust of Goldman in MoEngage’s business model and market  potential. The development came just when the SaaS companies were booming in the Indian startup  ecosystem with increased interest of investors in this sector. This SaaS-based startup faces competition  from other companies such as Drift, OutBrain, OneSignal, and Braze. The company has around 1200+  brands in its platform working on customer engagements.  

Conclusion: 

MoEngage is an insights-led customer engagement platform that enables brands to reach more  customers and increase their brand presence. The startup may get an investment of up to $50 million  from Goldman Sachs. The person close to this development told ET that the firm is already finalizing  the documents and reaching an agreement. MoEngage intends to use this fresh capital to strengthen  its brand presence, scale its operations, enhace its platform, and meet general corporate purposes.  The platform uses artificial intelligence and behavioral analysis to offer customized experiences to its  users and increase product reach. The Bengaluru-based startup has secured around $182 million since  its inception. The startup previously reported a valuation of 700 million USD.

Women-Led Indian Startups See 81% Surge in Investments in H1 2024

Women-Led Indian Startups See 81% Surge in Investments in H1 2024

Indian startups led by Women raised 75 deals was around $523 million in funding in the first half of  this year. The numbers in funding amount increased by 81 percent YoY compared to last year’s $289  million raised from 62 deals in the first half. Inc42 reported that the Funding activity in the women-led Indian startup ecosystem saw an increase this year, as the number went from 289 million USD raised  in H1 2023 to $523 million for the first half of this year. 

The D2C fashion brand Foxtale led the list with $18 million raised followed by Mobkwik’s $6 million  debt funding round led by Blacksoil. Foxtale is a D2C beauty and skincare startup that offers customized  skin care products according to all skin types. The company secured $18 million in its series B round  led by Panthera Growth Partners with the participation of Matrix Partners India and Kae Capital. The  post-allotment valuation of Foxtale was around $96 million. 

The women-led startups in the fintech sector led the overall funding list with $255 million secured,  followed by enterprise tech startups securing $122 million. The E-commerce sector led the list of the  most number of deals with $101 million secured among 28 deals. Startups from Delhi NCR secured  most deals region-wise with $171 million from 21 deals and Chennai ranked second for the overall  funding with $166 million raised. Peak XV partners announced a women entrepreneur-focused spark  program with 16 female founders to provide women founders with equity-free grants worth $100k  along with mentorship and other services.  

The former minister of women and child development, Smriti Irani previously mentioned many  startups from science and technology not turning commercial and the risk taken by women-led  startups being way too less compared to men. The government of India increased the loans forstartups  to Rs 43 crore and around 70 percent of this loan was given to women entrepreneurs. The government  has been taking several initiatives focused on Women entrepreneurs. Meanwhile, the debt  investments in the Indian startup ecosystem increased by 2 times to $576 million in the first half of  this year compared to last year.  

Conclusion: 

75 deals were made by women-led Indian startups from 1st January to 30th June securing over $523 million in funding. Foxtale secured the biggest amount, buoyed by its $18 million in fundraising  followed by Mobkwik’s with $6 million raised in its debt funding round. The startups in the fintech  sector dominated the funding with $255 million followed by women-led enterprise tech startups with  $122 million. The government has been launching various programs to help women entrepreneurs and  recently the ministry increased the loans for startups to Rs 43 crore from which around 70 percent of  this loan was given to women entrepreneurs. Most of these startups were from e-commerce, fintech,  fintech, D2C fashion, and enterprise tech sectors followed by cleantech, and consumer services. E commerce startups had the highest number of deals and raised $101 million across 28 deals.

Otipy to Raise $10M in Extended Series B Round from Existing Investors

Otipy to Raise $10M in Extended Series B Round

Otipy is an online agriproducts or grocery delivery social commerce platform that announced its plans  to raise $10 million in its extended series B round. The funding round will have the participation of the  firm’s new and existing investors. The company plans to use these fresh proceeds to scale its  operations, enhance its platform, expand its network and meet general corporate purpose. 

The source close to the deal told Entrackr that the startup may use this investment to expand its  operations in Delhi and Mumbai and establish new branches in Hyderabad and Bengaluru. The  company already received an agreement term sheet and the deal will be made public soon. The  Gurgaon-based startup has secured $44 million since its inception including the $32 million raised  during the Series B funding round from WestBridge Capital in 2022. The startup data intelligence  platform, the kredible mentioned that SIG Global is the firm’s biggest external stakeholder, followed  by WestBridge Capital. The company will focus on strengthening its market presence in the existing  cities. The same source mentioned that the company is also planning to achieve EBITDA breakeven in  FY25. 

This agritech startup offers an e-commerce platform that operates in a farm-to-fork delivery model. Otipy connects buyers directly with agri sellers and offers fresh produce. The investment will  help the startup achieve its goal of market expansion and strengthen its agriculture value chains  through its integrated services. This startup offers several agriculture-related and grocery deliveries.  The firm has established its name in the fruits and vegetables market now it is aiming to focus on  grocery more. The startup leverages advanced and cutting-edge technologies to offer the best services  to its customers. 

Otipy claims to have supported over 20,000 farmers and has more than 1,000 partners on  board. The startup reported a 50 percent increase in its size to Es 173 crore in FY24. The losses also  decrease by 21 percent in the same duration. This online agriproduct platform claims to offer high quality agri products with an affordable price range. This Gurgugram-based startup faces competition  from other agritech companies such as Arya.ag, Ninjacart, Bijak, Deehat and more. The development  came just after the Indian Agritech sector saw an increased interest of investors in this sector. 

Conclusion: 

Otipy is an agritech startup that provides a farm-to-fork delivery model platform. The company offers  various agri products to its buyers directly from farmers. This startup is set to raise $10 million in its  extended series B round. The funding round is most likely to have participation from the firm’s new  and existing investors. The startup intends to use this fresh capital to strengthen its operations in Delhi  NCR and Mumbai while establishing new branches in Bengaluru and Hyderabad. SIG Global is currently  the largest external stakeholder of the firm followed by WestBridge Capital. Otipy claims to have served  over 20,000 farmers and has a client base of 1,000 partners. The company has secured 44 million USD  to date.

Infra.Market Raises $18M in Debt Funding Led by CredAvenue

Infra.Market Raises $18M in Debt Funding

Infra.market is a construction startup that secured $18 million in debt funding rounds over the last  two months. The startup raised $50 million from MARS Unicorn Fund in an equity funding round. The  company offers construction, technical equipment, and building materials. The startup plans to use  this fresh capital to improve its services, enhance its platform, expand in the market, and scale its  operations. 

The board has approved a special resolution to allot non-convertible redeemable debentures at a certain issue price to raise $18 million. According to the company filing, the startup will use these fresh  proceeds to scale its operations, meet working capital purposes, and market expansion. The company  previously passed a resolution to raise Rs 500 crore and this round is the tranche of that deal. In this  debt funding round, the CredAvenue invested around Rs 80 crore followed by IKF Home Finance and  Raymond Limited with Rs 25 crore each. While the Samunnati Financial invested Rs 20 crore. The firm  was founded by Aadity Sharda and Souvik Sengupta in 2016 to offer construction-related products for  the infrastructure sector. This is one of the only construction startups in India that managed to remain  profitable and report a nine-time increase in scale from FY21 to FY23. 

The startup offers both B2B and D2R outlets in the construction material sectors. Infra.Market claims  to offer its services across 16 states in India while exporting its materials globally to other countries  including Italy, Singapore, Dubai, Jordan, and more. The startup data intelligence, the kredible  mentioned that the largest external stakeholder of the startup is Tiger Global with a 21.33 percent  stake, followed by Accel with 16.87 percent while Nexus Ventures accounts for 8.46 percent of the  total stake. This investment shows the trust of investors in Infra.market’s business model and market  potential. 

The company announced an 89 percent increase in its gross revenue to Rs 11,846 crore in FY23.  However, the profit declined to Rs 155 crore by 17 percent in the same duration. This Mumbai-based startup has secured a $520 million fund raised to date from all its debt and equity funding rounds. The  company aims to revolutionize the construction materials supply chain market locally and globally. Infra.market faces competition from other companies in this market such as Moglix, OfBusiness,  Zetwerk, and More.  

Conclusion: 

An Indian construction startup, Infra.Market raised $18 million in its debt funding round from  CredAvenue, IKF Home Finance, Raymond Limited, and Samunnati Financial. The startup offers  construction materials, technical equipment, and other services for construction purposes. The  company claims to supply its materials across 16 states across India and export its materials to other countries including Singapore, Dubai, Italy, and Jordan. The board at the company passed a special  resolution to allot NCCDs and raise Rs 150 crore. Before this debt funding round Tiger Global was the  largest external stakeholder of the startup with a 21.33 percent stake, followed by Accel with 16.87  percent while Nexus Ventures with 8.46 percent.