Indian startups | Pixr8 News

24Aug By PriyankaNo Comments

INDIA

India beats Pandemic, created 53 Unicorns in 2021

Indian startups received about $6.5 billion in funding in the April-June 2021 quarter, while 11 of them entered the coveted unicorn club, a report by Nasscom-PGA Labs said. During the second quarter, 160 funding deals were closed up 2% from the January-March period. "Q2 2021 has been impeccable for the start-up growth story. From being the most funded quarter, it has also added the most number of unicorns. Standing tall during the pandemic second wave headwinds, the Indian start-up ecosystem has shown strong resilience in this quarter," the report said. Funding raised in the June quarter was at $6.5 billion, up by 71% quarter-on-quarter. The biggest deal during the quarter was the $ 800 million fundraisings by food delivery platform Swiggy, followed by ShareChat ($502 million)...

1Oct By Press Trust of IndiaNo Comments

INDIA

Indian startups raise USD 63 bn since 2016, generate 27 unicorns

New Delhi, 1st Oct 2020: The startup's ecosystem has raised as much as USD 63 billion in growth capital between 2016 and 2020, when they spawned 27 unicorns, according to the data collated by the Indian Private Equity and Venture Capital Association and Praxis Global Alliance. According to them, this makes India the third-largest tech startup ecosystem in the world. Of the total inflows, nearly half came in 2019 alone USD 34 billion, and USD 17 billion in 2020 till May. The time period also created as many as 27 unicorns in the country. Unicorns are those with USD 1 billion or more valuation. Tech-enabled players continue to drive investors' interest and have dominated the early-stage funding landscape here. According to Rajat Tandon, the president of the Indian Private Eq...

Arkam Ventures- Indian Founders led Investment fund raises $42 Million

9Jun By AnkitaNo Comments

BUSINESS

Arkam Ventures- Indian Founders led Investment fund raises $42 Million

New Delhi, 9th June, 2020: Arkam Ventures, a VC fund led by Indian entrepreneurs raises around $42 Million (325 crores) in its first funding round. Arkam Ventures previously known as Unitary Helion looking to support founders with bold and unconstrained ideas that reshape the largest markets in India and positively impact the lives of hundreds of millions of Indians. "We announced our first close with INR 325 CR in committed capital en route to our target of INR 700 CR for the fund. We have already made two investments with three more to be announced shortly", the company said in a blog post. Indian entrepreneurs like Vijay Shekhar, Binny Bansal, Sanjeev Bhikchandani, Rajesh Magow, Mekin Maheshwari and Kumar Sudarshan, among many others, are supporting this fund. The Arkam ...

19May By AdityaNo Comments

INDIA

70% of Indian Startups are going to collapse says Nasscom Survey

70% of Indian startups have a cash runway of less than 3 months, with early stage and mid stage startups the worst affected, a report by Nasscom said. Revenues are squeezed for 90 per cent of over 250 startups surveyed by Nasscom in April this year. Over 250 startups with diverse profiles participated in the survey which included 45% mid-stage startups, 30% mature startups, and 25% early-stage startups. The Indian tech startup ecosystem is the third largest in the world with over 9,300 tech startups, providing direct employment to over 4 lakh people. However, the COVID-19 pandemic has come as a jolt and put the brakes on the flourishing growth story. As per the report, 28% of startups are hit by funding shortage which can affect long term sustainability, 21% startups are...

6Nov By Press Trust of IndiaNo Comments

INDIA

India continues to be 3rd in Startup Ecosystem, adds over 1100 start-ups in 2019

Adding over 1,100 start-ups in 2019, India continues to reinforce its position as the third largest start-up ecosystem across the world, taking the total number of tech start-ups to 8900-9300 in the last five years, NASSCOM said here on Tuesday. The IT industry body also said that Indian startup ecosystem is geared up for "10X" growth trajectory by 2025. "From 2014-2025 the 10 year period that we will see, the Indian startup ecosystem is geared up for 10X growth trajectory over these ten yerars, which is pretty phenomenal. We are expecting by 2025 the total number of unicorns to go up anywhere between 95-105 in India," National Association of Software and Services Companies President Debjani Ghosh said. Speaking to reporters here, she said NASSCOM expected the cumulative valua...

25Aug By AnkitaNo Comments

INDIA

DPIIT Registered Startups Exempt from Angel Tax: Indian Finance Minister

The Indian government exempted all startups that are registered with the DPIIT from the so-called 'angel tax', which will help resolve difficulties faced by the fledgling businesses and their investors. "To mitigate genuine difficulties of startups and their investors, it has been decided that Section 56(2)(viib) of the IT Act shall not be applicable to a startup registered under DPIIT," Finance Minister Nirmala Sitharaman told Pixr8 News. She added that while the said section will continue to be part of the Income Tax Act, it will not be applicable to the startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT). Besides, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced ...

Samsung Venture invests in 4 Indian startups

15Jul By AdityaNo Comments

FUNDING

Samsung Venture invests in 4 Indian startups

Samsung Venture Investment Corporation (SVIC), the investment arm of the South Korean tech giant in its maiden investment in India invested $8.5 million (approximately Rs 58.28 crore) in four Indian startups. SVIC, which has invested in a number of startups globally and has over $2.2 billion in assets under management, hopes to make 100 investments in Indian startups over the next three-five years. The startups chosen by SVIC include system apps company OSLabs that runs Indus operating system, speech technology startup Gnani.ai, IoT solutions provider Silvan Innovation Labs and an early-stage computer vision startup. Samsung closely works with a host of startups that are committed to building innovative and purposeful technologies across the globe, Aloknath De, Corporate Vic...

5Jul By AnkitaNo Comments

INDIA

To Remove Angel Tax, Indian Government Proposed Series of Steps

India Finance Minister proposed a series of steps to remove angel tax woes of start-ups and relaxation from income-tax scrutiny. In her maiden budget, the finance minister noted that start-ups in India are taking firm roots and their growth needs to be encouraged. "To resolve the so called angel tax issue, the start-ups and their investors who file requisite declaration and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums," she said. The issue of establishing identity of investors and the source of funds will be resolved by putting in place a mechanism of e-verification, she added. "With this, funds raised by start-ups will not require any kind of scrutiny from the income tax department," the minister...

4Jun By Press Trust of IndiaNo Comments

INDIA

1,862 start-ups registered with this Indian portal received orders worth Rs 275 cr

As many as 1,862 start-ups have registered with the Government e-Marketplace (GeM) portal and have received orders worth Rs 275 crore till April, a top official said Tuesday. The portal was launched in August 2016 for online purchase of goods and services by all the central government ministries and departments. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Ramesh Abhishek said, start-ups can now get government orders on GeM Startup Runway while getting an exemption from prior turnover, prior experience and earnest money deposits. "1,862 start-ups have registered, receiving 7,697 orders worth Rs 275 crore till April," he said in a series of tweets. He also said 1,87,004 jobs have been reported by 16,105 start-ups, which are recognised by the ...

24May By NitishNo Comments

INDIA

How Indian Startups Congratulate PM Narendra Modi For Second Term

Indian startups who received support from the Indian government under "Startup India, Standup India" programme led by Indian PM Narendra Modi's in the first term congratulates PM Modi for the victory and second term. Most of the startups are hopeful that under second term Modi government will take strong steps against painful Indian angle tax. "The 68 million grassroots businesses in India which have been making a significant contribution to the National GPD, need a continued benevolent approach from the Government. The Government Policies need to focus on creating a supportive ecosystem which empowers micro enterprises to create globally competitive products rather than granting loan waivers which only leads to dependency and inadequacy in the sector. While a lot of work has bee...

15May By PriyankaNo Comments

ANALYSIS

2018 Venture Capital Story of India

India, once most loved nation by Venture Capitalist around 2014 is now slowly shifting their interest from Indian startups. The recent data shows that the Venture capital investments in the country declined marginally to USD 26.3 billion in 2018, even though there was a surge in number of deals. Investments by venture capital and private equity funds in the country declined in 2018 from USD 26.8 billion in the previous year, the report by consultancy firm Bain & Company said. However, the number of transactions surged to 793 in 2018 as compared to 700 in the year-ago period, it said. The 'dry-powder' (liquidity) available with investors focused on the country has declined to USD 11.1 billion at the end of 2018 from USD 11.7 billion in the year-ago period, but it is "more ...

Investment Father of Indian Startups “Lee Fixel” is Leaving Tiger Global

15Mar By PriyankaNo Comments

News

Investment Father of Indian Startups “Lee Fixel” is Leaving Tiger Global

Lee Fixel, one of the most famous low flying name of Tiger Global is leaving the company, according to a letter sent to clients on Thursday seen by Reuters. In the letter, it's written that Lee Fixel a partner and head of the $13 billion private equity business at Tiger Global Management LLC, plans to leave the firm on June 30. Scott Shleifer and Chase Coleman will continue as co-portfolio managers of Tiger Global’s private equity business, with Shleifer to take over as its head, according to the letter. Fixel, who joined Tiger Global in 2006, will invest his own money and “may start an investment firm in the future,” Tiger Global wrote in the letter. “We are grateful for Lee’s innumerable contributions,” the letter said. “Lee has been a driving force behind the expansion of ...