Liquor startup Boutique Spirit Brands raises Rs 80 crore

2021-09-16 18:40:08

Indian startup Boutique Spirit brands today announced raising Rs 80 crore in a combination of equity and debt by IIFL, Anicut Angel Fund, Kae Capital, Narendra Madhusudan Murkumbi, and Vikramaditya Mohan Thapar Family Trust. TradeCred, an alternate debt platform, came in as a debt partner with Rs 60 crore, according to a release.

Five family offices on the TradeCred platform participated in the debt issue. The funding will help the company with new product launches, scaling up and

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NSRCEL-IIMB inks MoU with TechNovuus-ARAI to nurture tech startups

2021-09-15 19:20:04

NSRCEL―the incubation arm of IIM Bangalore has signed an MoU with The Automotive Research Association of India (ARAI), Pune through the latter’s innovation development platform, TechNovuus.

The collaboration aims to provide shared services for nurturing technology-based ventures or startups and helping to shape up new business models in India. The two signatories with their collective experience will also work towards influencing the tech-based startup ecosystems by providing mentorship in technology and business domains. This will help budding

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Leasing options build highway to EV adoption

2021-09-15 05:57:25

The vehicle subscription and leasing model may not have really picked up in India, but in the nascent electric vehicle market, big bets are being placed on it to be a game changer.

A number of startups, mobility solution providers and financiers have come up with customised options that allow customers to have a vehicle for their personal use for a monthly fee, without owning it. These schemes come with zero down payment and no hassle

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Leasing options build highway to EV adoption

2021-09-15 05:57:25

The vehicle subscription and leasing model may not have really picked up in India, but in the nascent electric vehicle market, big bets are being placed on it to be a game changer.

A number of startups, mobility solution providers and financiers have come up with customised options that allow customers to have a vehicle for their personal use for a monthly fee, without owning it. These schemes come with zero down payment and no hassle

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MetroRide introduces e-autos from Indiranagar Metro Station to EGL in Bengaluru

2021-09-14 13:25:45

AI-driven electric mobility platform MetroRide on Tuesday launched electric autos between Indiranagar metro station and Embassy Golf Links (EGL) in Bengaluru. The cost of these rides starts at Rs 10.

The electric shared mobility platform enables the customers to make their daily metro commute Affordable, quick and carbon-free, the company said in a press release.

MetroRide CEO Girish Nagpal said the company will actively work with the government, Namma Metro and traffic authorities to ensure

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Most unicorn founders this year are IITians

2021-09-14 06:00:00

Every second founder of Indian startups that turned a this year is an alumnus of one of four oldest Indian Institutes of Technology.

Twenty-six startups entered the unicorn club this year till end-August with a valuation of $1 billion or more.

As many as 30 of the 58 founders of these are engineering graduates from the IITs of Delhi, Bombay, Kharagpur or Kanpur, according to a study conducted by EMA Partners. Including these 58, there are 153 unicorn

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Most unicorn founders this year are IITians

2021-09-14 06:00:00

Every second founder of Indian startups that turned a this year is an alumnus of one of four oldest Indian Institutes of Technology.

Twenty-six startups entered the unicorn club this year till end-August with a valuation of $1 billion or more.

As many as 30 of the 58 founders of these are engineering graduates from the IITs of Delhi, Bombay, Kharagpur or Kanpur, according to a study conducted by EMA Partners. Including these 58, there are 153 unicorn

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Jungle Ventures raises $225 million to invest in India, Southeast Asia startups

2021-09-13 14:45:14

Jungle Ventures raised $225 million in the first close of its fourth fund as the venture capital firm seeks to replicate its successes in startups across Southeast Asia and India.

Many of its existing investors in previous funds backed the latest one, founding partner Amit Anand said in an interview. They include Temasek Holdings Pte, International Finance Corp. and German development finance institution DEG. The new fund has a planned size of $350 million.

There has been a

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Jungle Ventures raises $225 million to invest in India, Southeast Asia startups

2021-09-13 14:45:14

Jungle Ventures raised $225 million in the first close of its fourth fund as the venture capital firm seeks to replicate its successes in startups across Southeast Asia and India.

Many of its existing investors in previous funds backed the latest one, founding partner Amit Anand said in an interview. They include Temasek Holdings Pte, International Finance Corp. and German development finance institution DEG. The new fund has a planned size of $350 million.

There has been a

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Startup founders have to stabilise business before philanthropy, says Ashok Soota

2021-09-13 06:12:28

Ashok Soota, executive chairman of Happiest Minds Technologies.

Synopsis

In an interview with Alnoor Peermohamed and Raghu Krishnan, Soota also talks about his vision of an executive board to run the company, and SKAN, the not-for-profit he has launched for medical research on ageing and neurological disorders.

The trend of established Indian entrepreneurs getting into philanthropy is growing and startup founders need time to stabilise their business before contributing to society, says Happiest Minds executive chairman Ashok Soota.

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ETtech Deals Digest: Delhivery, Leap raise funds this week

2021-09-10 18:31:26

India’s startup ecosystem witnessed bigger rounds this week compared to the previous one. Logistics startup Delhivery and overseas education platform were among the companies that raised funds.

Lee Fixel’s Addition puts $76 million in Delhivery

Lee Fixel, the former partner at New York-based investment firm Tiger Global who fueled the first boom in the Indian consumer Internet ecosystem with investments in startups like Flipkart and Ola, has
picked up shares in one of his early bets — Delhivery.

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Lido Learning raises $10 million funding from Ronnie Screwvala’s Unilazer Ventures

2021-09-10 14:19:22

New Delhi: Edtech startup Lido Learning on Friday said it has raised $10 million (about Rs 73.4 crore) from Ronnie Screwvala‘s Unilazer Ventures. The company has raised $20 million so far from marquee investors like BACE Ventures, Picus Capital, 9 Unicorns, Paytm founder Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal, Ananth Narayanan and others.

Lido Learning, in a statement, said it is currently on track to reach a $100 million run rate by end of the

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Lido Learning raises $10 million funding from Ronnie Screwvala’s Unilazer Ventures

2021-09-10 14:19:22

New Delhi: Edtech startup Lido Learning on Friday said it has raised $10 million (about Rs 73.4 crore) from Ronnie Screwvala‘s Unilazer Ventures. The company has raised $20 million so far from marquee investors like BACE Ventures, Picus Capital, 9 Unicorns, Paytm founder Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal, Ananth Narayanan and others.

Lido Learning, in a statement, said it is currently on track to reach a $100 million run rate by end of the

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Global capital will come to India regardless of China developments: GGV Capital’s Tung

2021-09-06 06:25:59

GGV Capital remains bullish on India despite a short-term inflation in asset value here compared to other markets, the venture capital firm’s Silicon Valley-based investor Hans Tung told ET in an exclusive interaction.

Tung is in third spot in the latest Forbes Midas list and has 18 unicorns under his belt globally.

This acceleration in valuation, about 12-18 months ahead of time, is due to the
increased availability of liquidity chasing a limited number of companies that are

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Switzerland wants to be a haven for Indian startups, not ‘black money’

2021-09-05 11:18:21

New Delhi/Bern: Switzerland is looking to bolster its appeal as a preferred location for Indian startups through a number of globally competitive measures, even as it battles perception as a haven for alleged black money.

The alpine nation, famous for its banks that are allegedly used to park ill-gotten wealth, is high on technology in various sectors, experts said. Startups then can be instrumental in charting the country’s future economic growth trajectory.

According to a statement from

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Market opportunities justify money floating around for Indian startups: Prosus group CEO

2021-09-03 07:35:44

Earlier this week, Prosus made a big bet on the Indian digital payments sector with the
acquisition of homegrown payment gateway BillDesk for $4.7 billion. Bob van Dijk, group chief executive of South African tech investor Naspers and its international internet arm Prosus, spoke to ET’s Samidha Sharma & Digbijay Mishra about the digital payments landscape, a never-seen-before funding frenzy, impact of the Chinese government’s curbs on its Big Tech firms, and more. Edited excerpts:

You

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ETtech Exclusive: Market opportunities justify money floating around for Indian startups, says Prosus group CEO

2021-09-03 06:20:19

Earlier this week, Prosus made a big bet on the Indian digital payments sector with the
acquisition of homegrown payment gateway BillDesk for $4.7 billion. Bob van Dijk, group chief executive of South African tech investor Naspers and its international internet arm Prosus, spoke to ET’s Samidha Sharma & Digbijay Mishra about the digital payments landscape, a never-seen-before funding frenzy, impact of the Chinese government’s curbs on its Big Tech firms, and more. Edited excerpts:

You

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A market for IPOs doesn’t mean it’s the right idea for a company: Prosus group CEO

2021-09-03 06:20:19

Earlier this week, Prosus made a big bet on the Indian digital payments sector with the
acquisition of homegrown payment gateway BillDesk for $4.7 billion. Bob van Dijk, group chief executive of South African tech investor Naspers and its international internet arm Prosus, spoke to ET’s Samidha Sharma & Digbijay Mishra about the digital payments landscape, a never-seen-before funding frenzy, impact of the Chinese government’s curbs on its Big Tech firms, and more. Edited excerpts:

You

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Indian unicorns double in 2021; regulatory scene forcing some startups to leave: Report

2021-09-02 17:08:59

India added three ‘unicorns‘ per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of end-August, a report said on Thursday. Even as, cumbersome regulations are forcing startups to leave India and settle in other countries where they enjoy better treatment, as per the Hurun India, which prepared the list.

It can be noted that over the last few years, dedicated efforts have been undertaken to

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No one is as bullish on startups as CRED founder Kunal Shah

2021-09-02 14:56:17

NEW DELHI: Entrepreneurs usually focus on their own companies rather than investing in startups of other people. But serial entrepreneur Kunal Shah, who in the past founded Freecharge, is an exception.

Hurun India said Kunal Shah tops the list of entrepreneurs with the most number of investments in startups that may turn unicorn in the next few years. He is invested in nine such companies. Shah is followed by Binny Bansal at 5 and Ratan Tata at

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