WinZo announces selection of 18 gaming startups to represent India at Gamescom Latam

The games that are included come in a variety of categories and genres, such as chess, racing, physics-based challenges, cricket, riddles, and racing games. Eighteen gaming businesses have been chosen by the vernacular skill gaming platform WinZO and the Department for Promotion of Industry and Internal Trade's (DPIIT) Startup India to represent India at Gamescom Latam, one of the biggest games exhibitions in the world.
Games from a variety of categories and genres are included on the list, such as chess, racing, physics-based challenges, cricket, riddles, and racing games. According to the organization, these businesses are based in both bigger cities like Nashik and smaller ones like Hyderabad, Chennai, Pune, Kolkata, Bengaluru, Mumbai, and Delhi NCR. The titles that have been chosen include the cross-platform game Gods Of Cricket, the role-playing game Tanhaji The Maratha Warrior, the first-person survival horror game Kamla: Indian Exorcism, the narrative-driven 3D action-adventure game Unsung Empire: The Cholas, and the action role-playing game Frontier Paladin. The list also includes Kurukshetra: Ascension, an epic strategic card warfare game, Mr. Racer, a racing game for cars, Spook-A-Boo, an arcade game, and My Dream House, a casual Match3D+Decor game.  Other games include the real-time chess game Tale of Honor, the shooter game Laser Tanks, the tile-matching game Timmy's Toy Rush, the puzzle game DetectiveIQ, the cricket game Bharat Cricket Premier League, the adventure game Mumbai Gullies, the hypercasual action game Elemental Escape, and the simulation game Tea Garden Simulator, which allows users to build and run their own tea empire. WinZO stated that a panel of seasoned industry professionals, including Suresh K Reddy, the Indian ambassador to Brazil, and Rohit Kumar Singh, the former secretary of the Indian government, chose the games from a pool of more than 100 technology and gaming businesses and technological institutes. (Fundação Getulio Vargas' São Paulo School of Business Administration) were also part of the panel. "India is positioned to lead the way in technical innovation because to its foundation of cutting-edge inventions and dedication to developing domestic talent. In a statement, Singh stated, "WinZO exemplifies this trajectory, harnessing the power of Indian creativity and technology to impact the global stage significantly." India's entry into LATAM, propelled by the export of technology and intellectual property, opens up new opportunities for our technology entrepreneurs, according to Rajesh Kumar Singh, Secretary, DPIIT. Developers who participate in this program pursue their goals and help India become a global leader in technology exports."

By issuing bonds, Navi Finserv, owned by Sachin Bansal, raises INR 150 Cr.

SUMMARY: The investors include Rishad Kairus Dadachanji, Pervin Kairus Dadachanji, and Kairus Shavak Dadachanji, the chairman of the Dadachanji Group, who have contributed INR 110 Cr. This occurs months after the loan startup declared its intention to use NCDs to raise INR 600 Cr. Cofounded in 2012 by Sachin Bansal and Ankit Agarwal, Navi Finserv specializes in lending products such as home, auto, and personal loans.Navi Finserv, a fintech unicorn run by Sachin Bansal, reportedly obtained INR 150 Cr through the issuing of bonds from six individual investors, following the company's announcement months earlier of aspirations to fund up to INR 600 Cr through the issuance of Non-Convertible Debentures (NCDs).An hour ago  

INR 21.6 Cr From Lightspeed To Pivot To Beauty Consultations For EkAneks Foxy Bags

SUMMARY: EkAnek passed a special resolution allocating 31,638 CCPS at a cost of INR 6,827.4 per to Lightspeed India, amounting to INR 21.6 Cr in total. Also, the business increased the number of stock options in its ESOP pool by 7,520, to 29,657. Foxy is an online store that was established in 2018 and offers a large selection of cosmetics, grooming, and beauty products.INR 21.6 Cr from Lightspeed to Pivot to Beauty Consultations for EkAnek's Foxy Bags. Parent company EkAnek of the beauty e-commerce platform Foxy has secured INR 21.6 Cr ($2.5 Mn) in a strategic financing round led by current investor Lightspeed India.  

Indian startups have advanced significantly during the past five to ten years: Co-founder of Urban Company

NEW DELHI: Over the past five to ten years, Indian companies have made significant progress thanks to the government's Startup India program and other efforts.In the last five to ten years, Indian startups have made significant progress. The co-founder of an urban company"When I started 10 years back, we were a small ecosystem and the country had only one unicorn," Bhal said to IANS during a conversation. We are a today'sIn the last five to ten years, Indian startups have made significant progress. The co-founder of an urban company. In terms of unicorn count, the Indian Startup Ecosystem ranks third globally as of May 2024, with a total valuation of $349.67 billion.Speaking at the 'Vishesh Sampark Abhiyan', the co-founder said that the Startup India initiative helped "us brainstorm for hours and create a highly c https://www.dtnext.in/indian-startups-have-come-a-long-way-in-the-last-5-to-10-yrs-urban-company-co-founderThe co-founder claimed during the "Vishesh Sampark Abhiyan" that the Startup India program enabled "us think for hours and design a highly powerful  

MeitY Secretary Indias AI Regulations Won Stop Innovation

OVERVIEW According to S Krishnan, the government would prepare the legislation for artificial intelligence using the same methodology used to draft the DPDP Act. According to the MeitY secretary, India may have an advantage over other countries by enacting AI legislation later since it may examine and absorb the lessons from the mistakes made by others. The proposed AI legal framework is expected to be published by July of this year, according to statements made earlier this year by Rajeev Chandrasekhar, the minister of state for MeitY.Artificial intelligence (AI) would be regulated by the Center so as not to inhibit innovation in the field, according to S Krishnan, secretary of the Ministry of Electronics and Information Technology (MeitY).Before being made available to users on the Indian internet, all large-language models (LLMs), software that uses generative AI, artificial intelligence (AI) models, and algorithms that are being tested, in beta testing, or unreliable in any other way are required to obtain the "explicit permission of the government of India."On March 1, the ministry of electronics and information technology (MeitY) released a late-night advisory—a first for the entire world. It requested that all platforms make sure that their use of AI, generative AI, LLMs, or any other kind of algorithm "does not permit any bias or discrimination or threaten the integrity of the electoral process."Friday's advise, though not legally obligatory, is "signalling that this is the future of regulation," according to Rajeev Chandrasekhar, the union minister of state for electronics and information technology. "We are requesting that you (the AI platforms) abide by it as an advisory today."  

Zomatos Latest Feature Now Enables Users To Make Healthier Decisions

SUMMARY: Using this new function, customers can be gently persuaded to select healthier options, preventing them from subsequently regretting their decision. Additionally, the company increased its platform cost to INR 5 per order last month from INR 4 previously. Zomato also revealed its fourth consecutive profitable quarter earlier in May.Zomato, the foodtech behemoth, has launched a new feature that will assist its consumers in choosing healthier options. This comes only a few days after the company extended its priority delivery services to Delhi, Hyderabad, and Pune.By using this new tool, customers can be gently encouraged to choose healthier options when placing their orders, helping them to avoid regretting their decisions later.Deepinder Goyal, the CEO and founder of Zomato, made the news on X."We just released a new function on Zomato – gently assisting our users in making healthier choices,” the post stated. First off, we've started recommending roti in place of naans."We just released a new function on Zomato – gently assisting our users in making healthier choices,” the post stated. First off, we've started recommending roti in place of naans."We have received tremendously favorable feedback for this functionality, and we are seeing a 7% attach rate for these recommendations. We intend to expand this soon to include additional meals and categories. For instance, when you add a dessert to your basket, we may suggest lower-calorie dessert options if you are in the mood for one," it stated.Zomato is also getting ready to add more meals and categories to this functionality. For example, when a user adds dessert to their cart, they may be shown alternatives with fewer calories if they are craving it. In addition, the company increased its platform fee from INR 4 to INR 5 each order last month. Zomato also revealed its fourth consecutive profitable quarter earlier in May. In the quarter that concluded on March 31 of the financial year 2023–24 (FY24), the company's consolidated profit after tax increased by 26.8% to INR 175 Cr from INR 138 Cr in the previous quarter. From INR 3,288 Cr in Q3 FY24 to INR 3,562 Cr during the quarter, operating revenue increased by more than 8%. On a quarterly basis, Zomato observed a decrease in the GOV of their meal delivery service. During the quarter under review, its GOV decreased from INR 8,486 Cr to INR 8,439 Cr. Yet, GOV increased 28% year over year.  

Venture Catalysts $200 million fund, 9Unicorns, rebrands itself

New Delhi: Rebranding as 100Unicorns, 9Unicorns, a division of the multi-stage investment platform Venture Catalysts Group, has opened its second accelerator fund, targeting $200 million to invest in 200 national businesses.According to Apoorva Ranjan Sharma, managing director of Venture Catalysts Group and co-founder of 100Unicorns, the company intends to announce its first closure by November with the goal of pooling 30–50% of the total fund size.According to Sharma, 100Unicorns would provide early-stage enterprises with initial investments between $250,000 and $1 million in exchange for a 5–10% share. There may be additional opportunities for investments up to $3 million in subsequent rounds.Increasing the need The establishment of the new fund reflects the increasing need for early-stage capital in India, where investors have continued to support nascent businesses in spite of the financial winter. Tracxn data indicates that pre-seed, seed, and Series A funding saw significant growth in 2022 and 2023.Sharma emphasized that between 2015 and 2022, financing for the Indian startup sector increased fifteen times. "In the next ten years, I firmly believe that India will become the 'Startup Nation,' producing the greatest number of unicorns, entrepreneurs, and jobs created by startups."Startups with a $1 billion or higher valuation are considered unicorns. Based on information provided by the company, the Department for Promotion of Industry and Internal Trade (DPIIT) and Tracxn show that, with over 110,000 new enterprises operating nationwide, India currently has the third-largest startup ecosystem globally. There are 111 unicorns in the nation, and their aggregate worth is $350 billion. About 80–85% of the cash for the second fund would be invested in India; the remaining portion will be financed by partners in the US, West Asia, Southeast Asia, and African markets. According to Sharma, there are over 77,000 startups on the African continent, which is still a profitable region.  

Ankush Aggarwal Returns To Ola Cabs Ride-Hailing Business Amid Restructuring

Ankush Aggarwal, brother of Ola Cabs founder Bhavish Aggarwal, has rejoined the ride-hailing company following a period with Ola Electric amid organizational changes at Ola Cabs.Ankush Aggarwal is a member of the "CXO team," as the top executive group is internally called.This action follows the resignation of Hemant Bakshi, the company's CEO, a few months after he joined the startup.Bakshi quit his job a month ago. Even though he left Hindustan Unilever to join Ola Cabs in September 2023, the firm announced his appointment in January of this year.According to ET, Aggarwal will have a variety of duties at Ola Cabs, similar to what he did at the manufacturer of electric vehicles. He is also scheduled to take up the position of CEO of Ola Financial Services.He was Ola Electric's chief business officer.Ola has been contacted by Inc42 to provide feedback on the development. The response will determine how the story is updated. It is important to remember that Ola Cabs and Ola Financial Services are separate entities from Ola Electric Mobility, which was established by Bhavish Aggarwal, and are under the ownership of ANI Technologies.In addition to Ankush Aggarwal, whose loan startup Avail Finance was purchased by ANI Technologies in 2022, other executives on the CXO team include Sidharth Shakdher, chief business officer, and Kartik Gupta, chief financial officer. Gupta and Shakdher have both worked with Ola Cabs for a short time—less than 1.5 years.According to the article, Bhavish Aggarwal is likely to take the lead in the business following these modifications and is reportedly focused on making a profit. The current management at the company will collaborate with Bhavish Aggarwal, who is basically back reviewing the daily statistics of the ride-hailing service, an insider told ET. In India, Ola Cabs, which was established in 2010, is a competitor of Uber and BluSmart. The business has let go of workers in two rounds of layoffs in the previous two years prior to Bakshi's resignation. It let go of 200 workers from Ola Cabs, Ola Electric, and Ola Financial Services in January of last year. From INR 1,522.3 Cr in the prior fiscal year to INR 772.2 Cr in FY23, ANI Technologies' consolidated net loss almost halved. From INR 1,970.4 Cr in FY22 to INR 2,799.3 Cr in FY23, operating revenue increased by 42%. Ola Cabs recently stated that, in contrast to an EBITDA loss of INR 66 Cr in the same period last year, its India mobility division broke even with "segment-adjusted" EBITDA of over INR 250 Cr in FY23. The    

Sidhi Dalmia, a former executive at Goldman Sachs, joins VCats Syndicate Fund as a founding partner and co-leader.

Sidhi Dalmia, a senior executive at Goldman Sachs, has joined Mumbai-based Venture Catalysts as a founding partner and co-lead for their recently formed syndicate fund, VC Grid.In addition to Goldman Sachs, Dalmia has several executive roles at The Chesapeake Group, Bennett, Coleman & Co., Sumedha Fiscal Services, and Srei Group.She has worked in a number of major cities, including Mumbai, Hyderabad, Bangalore, Kolkata, and New York.According to the venture capital firm, Dalmia has played a pivotal role in propelling the establishment of VC Grid in recent months and solidifying its value proposition in the investment landscape.According to the company statement, she has coordinated fundraising efforts across a variety of industries, including technology, retail, FMCG, logistics, distressed assets, and infrastructure. She has also negotiated cross-border M&A transactions, facilitated venture capital investments, and given strategic advice to startups."She combines her financial acumen and leadership skills with a wealth of experience and knowledge in venture capital, early-stage investments, and creating sustainable enterprises. As we want to increase the value for family offices, legacy companies, and entrepreneurs, we are excited to collaborate with her," stated Apoorva Ranjan Sharna, managing director and founder of Venture Catalysts++.Family offices, corporate VCs, and U-HNIs make up the VC Grid network, which is dedicated to funding high-alpha projects from seed to Series A, with an investment range of $500K to $1.5M. Apart from providing financial support, the community also hopes to provide entrepreneurs with market access and commercial prospects by utilizing the combined knowledge and assets of its member investors. Venture Catalysts plans to conclude investment for VC Grid later this year with a total corpus of INR 900 Cr (about $110 Mn), according to a report published earlier this month by Inc42. Sources said at the time that the syndicate planned to bring the total number of limited partners to 100 by year's end, with 32 family offices already on board.  

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Where in the United States can you see the northern lights this weekend?

Here you may find the most recent news updates and breaking stories from India and around the globe.This weekend, a strong geomagnetic storm that reached Earth might provide residents as far south as Alabama and Northern California with a display of the northern lights, according to officials. People in more expansive parts of the map may be able to see the aurora borealis if the weather is right.The storm could produce an amazing light show in the night sky, but it has prompted government forecasters to warn of possible interruptions to satellite operations, the electricity grid, and communications networks."The aurora is really the gift from space weather, if you happen to be in an area where it's dark and cloud free and relatively unpolluted by light," Rob Steenburgh, a space scientist with the National Oceanic and Atmospheric Administration's Space Weather Prediction Center, told reporters on Friday morning.Friday night's map of the northern lights The center's map indicates that Friday night, the aurora could be visible over a large portion of the northern United States. The map's red line indicates the aurora forecast's southern range.For the best chance of seeing the northern lights, locals should evacuate the city, according to the National Weather Service's St. Louis office. On social media, the office posted, "Get away from city lights into a dark, rural surrounding and look north." "Aside from some clouds associated with a passing front, much of the time looks mostly clear."On its website, the forecast center states that one does not have to be right underneath the aurora to see it. Rather, it may be seen from a distance of up to 620 miles.When asked if there was any prospect of a nocturnal spectacle in the San Francisco Bay Area, the weather service office expressed less optimism. The office said, "Probably not, but I'll still look up while walking my dog."  

Zeta Introduces Credit As-A-Service Product for Banks Integrated with UPI

Zeta, a unicorn in banking technology, has launched a digital credit-as-a-service solution for banks. The product leverages the network to expedite the issuing of credit in India and is based on NPCI's credit line on UPI scheme.The company expects transaction volumes on this scheme to exceed $1 Tn by 2030 and aims to capture 50% of this market opportunity with its solution, helping banks create and launch credit products quickly."Credit Line on UPI has hit a home run for banks by completely changing the discovery, access, and cost mechanics of retail lending," stated Ramki Gaddipati, CEO APAC & Global CTO, Zeta.According to Gaddipati, the cost of Zeta's new offering would change based on the particular services that each bank needs."We saw UPI volumes put a strain on core banking systems," he continued. We expect comparable Credit Line volumes on UPI in the near future, necessitating a populace-wide banking infrastructure that can handle hundreds of millions of credit accounts.Zeta, which was founded in 2015 by Gaddipati and Bhavin Turakhia, provides financial institutions with an omni-stack platform for managing fraud and risk, processing and issuing debit and credit cards, and lending. Zeta's cloud-native, next-generation core banking and payments platform powers its extensive services and technology stack, which enables banks to manage digital credit operations from originations to collections. This is known as its digital credit-as-a-service offering. Pre-integrated technologies to speed up launch procedures, packaged services to improve operational effectiveness, and a variety of product blueprints, including EMI loans, merchant loans, and agricultural loans, will also be included in the offering. It will also provide regulatory reporting, compliance, and operations capabilities in addition to process consulting support for integrating Credit Line on UPI with current bank systems.In contrast to a loss of INR 20.7 Cr in FY22, the company declared a profit after tax (PAT) of INR 21.94 Cr in the fiscal year 2022–2023 (FY23). The fintech unicorn based in Bengaluru had an increase in income from operations of about 33% to INR 816.20 Cr in FY23, up from INR 615.05 Cr in FY22. Zeta became a unicorn in May 2021 after raising $340 million in total capital with a $250 million funding round headed by Masayoshi Son's SoftBank. Among its supporters are well-known companies like Mastercard, Sodexo, and Softbank Vision Fund.  

Talks of SoftBank Increasing Its Investment in Software Portfolio Company Icertis

SoftBank is once again making inroads into the Indian startup scene. The global giant is in early talks to increase its investment in Icertis, a company that now manages its software portfolio.According to ET, Pune-based Icertis is presently seeking to raise $150 million (about INR 1,252 crore) through the sale of secondary shares; as part of this transaction, SoftBank may expand its participation.It is important to note that with this new round of funding, SoftBank is not the only investor looking to extend their position in Icertis. Existing investors in the business are also thinking about increasing their stake. This action is being taken as some of the company's original investors look to leave the 15-year-old business.Valuation concerns play a major role in the talks between SoftBank and Icertis.As part of a bigger fundraising round, SoftBank's Vision Fund is completing preparations to invest in the e-commerce platform Meesho. This comeback comes after SoftBank and Tiger Global abstained from transactions for more than a year.Established in 2009 by Monish Darda and Samir Bodas, Icertis focuses on the corporate IT industry. Businesses all around the world may manage, buy, sell, and corporate enterprise contracts with the aid of its product, Icertis Contract Intelligence (ICI).It was previously reported that SoftBank was getting ready to resume investing in Indian businesses following a roughly 18-month hiatus. The Japanese investment company, which had previously taken a wait-and-watch approach, is now aggressively seeking to support cutting-edge businesses and expand its holdings in the Indian market.SoftBank will keep investing, especially in growth-stage companies, as it often does so with over $100 million each round.As of December 2023, SoftBank India's investment portfolio across Vision Funds I and II had a fair value of around $14 billion, an increase of 9%.  

TiE Smashup 2024: Promoting Development and Creativity in the Startup Sector

May 7, Jaipur, Rajasthan, India: The flagship event of TiE Rajasthan, TiE Smashup, is back for its eighth iteration, giving startups a special chance to network with more than 25 institutional investors from across India. Thanks to the success of the previous year's event and the Rajasthan Government's Istart initiative, five entrepreneurs were able to get immediate cash commitments: Indeed, Madam, you succeeded in securing Rs 75L from Warmup Ventures; Boba Bhai received Rs 50L from Warmup Ventures; Ratnada Ventures awarded Strangify USD 60000; and Realtime Angel Fund gave each of Headfox Innovation Pvt Ltd. and Cellverse Pvt. Ltd. Rs 50L."Many start-ups are reaching notable milestones with their innovative ventures, supported by TiE Rajasthan." "Smash Up" has established a national brand presence today and has evolved from a Chapter event to an ecosystem partners event, providing the ideal venue for start-ups to be noticed by global venture capitalists. said TiE Rajasthan President Dr. Sheenu Jhawar.Following the Smash Up event of the previous year, Boba Bhai secured noteworthy seed capital of Rs 12.5 Cr at a valuation of Rs 50 CR. Meanwhile, the triumph of Yes Madam, My Body Affairs, and Hexpression on various seasons of Shark Tank India demonstrated their capabilities. The prestigious 500 Global Alberta Accelerator 2023 Batch-5 in Canada has selected InfraHive (Aivinya). Following their participation in SMASHUP, other startups such as The Loom Art, Doctune, Insurance Padosi, Mobirapid/Headfox, VCheck, Thela Gaadi, OLE ROOMS, Kwikfix, Avitron Aerospace, and Tempvision have also made notable progress in their respective fields. Caldor Health Technologies is one such startup.The outstanding contributions of Puneet Mittal (Chair, Startup Screening), Vikram Ahuja (Chair, On-Spot Funding), Nishant Patni (Convenor), and Sharad Bansal (Co-Convenor) are responsible for TiE SMASHUP's continued success. Registrations are now available for TiE SMASHUP 2024, the eighth edition (September 27–28), which promises to be an even more exhilarating experience after the phenomenal success of previous Smash Ups.  

Kareena is pleased to be a national ambassador for UNICEF India.

UNICEF India has named Bollywood star Kareena Kapoor Khan as its national ambassador. Her longstanding affiliation with the organization since 2014, during which she has acted as a Celebrity Advocate, is recognized with this esteemed status.Young Advocates: Supporting a Range of Issues UNICEF India announced the appointment of Kareena along with the introduction of its inaugural class of Youth Advocates, four exceptional persons who will act as peer leaders and advocates for important issues impacting children and youth. The causes that the Youth Advocates are fighting for are: Gauranshi Sharma from Madhya Pradesh, advocating for the right to play and disability inclusion. Uttar Pradesh native Kartik Verma is an advocate for child rights and climate action. Nahid Afrin from Assam, raising awareness about mental health and early childhood development. Vinisha Umashankar from Tamil Nadu, a budding innovator and STEM pioneer.Kareena's dedication to the rights of children Kareena Kapoor Khan's commitment to the rights and wellbeing of children is demonstrated by her affiliation with UNICEF India. She has given her voice to numerous projects as a Celebrity Advocate, bringing attention to topics including child safety, nutrition, and education. As she assumes her new position as National Ambassador, Kareena is well-positioned to further up her efforts and use her powerful platform to make a significant difference in the lives of children in India and around the world.Youth Empowerment and Change-Driven UNICEF India's selection of Youth Advocates is a great step in empowering youth and recognizing their ability to effect positive change. In addition to serving as an inspiration to their peers, these advocates will help shape programs and policies that deal with the urgent issues that young people face. Kareena Kapoor Khan and the Youth Advocates will work diligently to guarantee that every child's rights are upheld and their voices are heard, forming a strong team.Children's Better Future Kareena Kapoor Khan and the Youth Advocates represent a fresh commitment to UNICEF India's great goal, which is to uphold the rights and welfare of children. The group wants to give children a better future where their rights, safety, and growth are respected and valued via their combined efforts. Kareena Kapoor Khan's impact and her passion for children's rights will surely encourage others to join the campaign as she sets off on her new adventure, causing a ripple effect that reverberates throughout the country and beyond.  

According to the report, startup funding fell by 17% in FY24.

The research emphasizes that there have been fewer larger transactions—those valued at more than $25 million—which often occur when a business is expanding. This indicates that overall, fewer funds are being invested in startups, particularly in deals of medium to large scale. Investments in late-stage venture capital have also been severely impacted.In comparison to the previous year, startup funding in India decreased by 17% in FY 24.In comparison to the previous year, startup funding in India decreased by 17% in FY 24. The number of deals that investment professionals received per day on average dropped to three in 2024 from six in 2021.The number of deals that investment professionals received per day on average dropped to three in 2024 from six in 2021. A Wealth 360 One report titled "India Invests" states that there has been a 60% decline in private equity in the USD 100–250 million bracket. Those who invested at least $500 million have also seen a sharp decline of more than 80%. Funds with investments under $100 million USD have also seen a 30% decrease. However, financing of less than $5 million continues to flow in. Visit this link to learn more: https://www.magzter.com/stories/newspaper/The-Business-Guardian/FY24-STARTUP-FUNDING-IN-INDIA-DECLINED-BY-17The research emphasizes that there have been fewer larger transactions—those valued at more than $25 million—which often occur when a business is expanding. This indicates that fewer funds are being invested in startups generally, particularly in deals of medium to large scale. Investments in late-stage venture capital have also taken a severe impact.May 4, New Delhi, India (ANI): In comparison to the previous year, startup funding in India decreased by 17% in FY 24. The number of deals that investment professionals received per day on average dropped to three in 2024 from six in 2021. A Wealth 360 One report titled "India Invests" states that there has been a 60% decline in private equity in the USD 100–250 million bracket. Those who invested at least $500 million have also seen a sharp decline of more than 80%. Funds with investments under $100 million USD have also seen a 30% decrease. However, investment for less than $5 million USD continues to flow in.

EV motor & controller startup Attron Automotive raises Rs 4.75Cr led by Venture Catalysts and Anicut Capital

Anicut Capital and Venture Catalysts led a seed fundraising round that brought in Rs 4.75 crore for Attron Automotive, a firm that makes EV motors and controllers. With precision-engineered motor and controller solutions, Attron's purpose is to drive the evolution of electric mobility with the goal of promoting a sustainable future and improving vehicle performance. Other investors' involvement   Notable organizations like Pontaq VC and angel investor Yashovardhan Shah also participated in the round. Increasing the range of products offered Because of its innovative design, the startup is renowned for its efficiency and decreased torque ripple. Attron's controllers, on the other hand, are made to be easily integrated and versatile. They have sophisticated features like real-time monitoring and adaptive algorithms, which guarantee optimal performance in a variety of settings. Increasing output With the additional funding, Attron Automotive intends to expand its business considerably. Attron Automotive's CEO, Mosam Ugemuge, announced that the business intends to establish a new production facility with a monthly production capacity of 8,000 vehicles. With this development, Attron hopes to address the increasing demand in the two- and three-wheeler segments—which include both passenger and load carrier categories—for its motor and controller solutions.The market for electric vehicle (EV) motor controllers is predicted to rise from $7,730.9 million in 2021 to $26,879.75 million by 2031, reflecting the unparalleled growth of the worldwide EV industry. Likewise, the market for electric vehicles (EVs) is anticipated to grow from $8.5 billion in 2022 to $56.95 billion by 2032. Inoorva "The investment in Attron Automotive underscores our commitment to fostering innovation and driving technological advancements in the electric mobility landscape," stated Ranjan Sharma, Director & MD, Venture Catalysts. Pioneering motor and controller solutions from Attron set new benchmarks in the automotive technology industry by exemplifying efficiency, dependability, and precision engineering.

Stanza Living posts Rs 442 Cr revenue and Rs 495 Cr loss in FY23

"Just before FY23, Kotak Mahindra and RBL Bank conducted a $57 million debt raise by managed housing company Stanza Living. The corporation was able to circumvent a four-fold rise in the fiscal year that ended in March 2023 because to the financing. In FY23, Stanza Living's operating revenue increased to Rs 442 crore from Rs 115 crore in FY22, as per the company's consolidated financial statements submitted to the Registrar of Companies. Co-living options are offered by managed housing platform Stanza Living to both students and working people. The company says it is present in 24 locations and has an inventory of over 75,000 beds spread across more than 450 households. Stanza Living's main source of income was rental properties. The Delhi-based company also receives income from food, yearly maintenance fees, and other related services. In FY23, the company additionally received Rs 16 crore in interest from its investments. When we look at costs, emploee benefits show up as the biggest expense, accounting for 27% of total costs. From Rs 223 crore in FY22 to Rs 255 crore in FY23, this expense grew by 14.3%. Its financing and depreciation costs increased to Rs 187 crore and Rs 218 crore, respectively, during the previous fiscal year as a result of the lease. Stanza Living's overall expenses increased by 66.6% to Rs 953 crore in due to overhead related to marketing, legal and professional, safety, electrical, and other costs. from Rs 572 crore in FY22 to FY23.  Stanza Living's losses climbed by 18.71% to Rs 495 crore in FY23 from Rs 417 crore in FY22, but the respectable scale enabled the company contain those losses. Its EBITDA margin increased to -19.7% and ROCE to -21%, respectively. In FY23, it cost Rs 2.16 per unit to earn a rupee. Stanza Living has raised more than $180 million in funding rounds, and its most recent equity transaction valued the company at over $430 million. With 26.62% of the shares, Alpha Wave (previously Falcon Edge) is the top stakeholder, followed by Matrix Partners and Accel, according to the startup data analytics platform TheKredible. Stanza appears well-positioned to grow rapidly right now in a market that is predicted to have considerable growth over the next ten years thanks to a solid base of beds that are readily available, a presence in 24 cities, and presumably a well-oiled infrastructure. Right now, the formula looks to be rather straightforward. Raise the occupancy rate in order to raise the average cost per bed, and continue to carefully rightsize operations in response to feedback."

A Tracxn research states that over 75% of women-led enterprises are still unfunded.

According to a recent Tracxn analysis, India is home to over 8,000 firms that were created by women and have raised a total of about $23 billion in funding to date. Nevertheless, 590 of these firms make more than $30,000 in revenue, while 6,000 of them are still unfunded.The Department for Promotion of Industry and Internal Trade has statistics that shows there are 117,254 startups in the nation right now.According to a recent Tracxn analysis, India is home to over 8,000 firms that were created by women and have raised a total of about $23 billion in funding to date. Nevertheless, 590 of these firms make more than $30,000 in revenue, while 6,000 of them are still unfunded.Gender prejudice is pervasive in India's startup scene, as seen by the over 6,000 startups with female founders that have not received funding yet. Tracxn data indicates that over 8,800 Indian businesses led by women have raised a total of over $23.3 billion in funding. On the other hand, up to 2,300 firms led by women have secured funding thus far. Approximately 1,000 of them are in the Seed stage, 251 are in the Early stage, and 67 are in the Late stage at the moment.Over the last three years, VC financing for firms run by women has decreased by 75%. According to Tracxn data, VC financing for women-led firms peaked in 2021 at $6.5 billion, but by 2023, it had dropped to $1.1 billion.According to data, the tech startup ecosystem in India raised $8.7 billion in 2023. Of that amount, $1.15 billion was raised by companies led by women, accounting for 13% of the total.$112 million in funding has been given to women-led firms so far this year, nearly matching the $123 million raised in the first two months of 2023.