Startup Newsletter – August 2023

Date: 15 Sep, 2023

RC Thoughts

The startup funding landscape is showing signs of resilience, with August recording a total funding of $845 million, compared to $797 million in July, marking a modest 6% month-on-month increase. A beacon of hope emerged with the remarkable achievement of Zepto, a quick-commerce startup, securing $200 million in funding, significantly contributing to August's total. We anticipate that as the year progresses, the funding activity will steadily gain momentum, paving the way for more substantial growth in the upcoming year. This upward trajectory reflects the enduring spirit of innovation and investment in the startup ecosystem, giving us every reason to remain positive about the future.

Startup Funding Scenario

Month-on-Month Funding in 2023

(Amt in $ Million)

Stage-wise Funding in Aug 2023

Other News

Zeptoa Mumbai-based rapid commerce business which essentially distributes over 6,000 supermarket products in 10 minutes across the country via a network of delivery hubs. Founded by Stanford University dropouts Aadit Palicha and Kaivalya Vohra, has received a fresh $200 million (~Rs 1,653 crore) in funding backed by new investor StepStoneGroup at a valuation of $1.4 billion, making it the first unicorn of 2023. Read More

PharmEasythe healthtech unicorn, is raising INR 3,500 Cr through a rights issue to repay a substantial amount of its debt to Goldman Sachs. PharmEasy, which was founded in 2015 by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Siddharth Shah, and Hardik Dedhia, sells pharmaceuticals online and also provides diagnostic testing through its several subsidiaries. Read More

The Securities and Exchange Board of India (SEBI) cuts the validity time of approval provided to Alternative Investment Funds (AIFs) and Venture Capital (VC) funds to make overseas investments from six to four months. Read More

The Securities and Exchange Board of India (SEBI) streamlines the KYC procedure for intermediaries when onboarding clients. Investors can be onboarded immediately after submitting KYC documents; verification follows. KYC Registration Agencies (KRAs) can verify the documents within two days of their submission. Read More

RC Portfolio Companies Update

Lilac Insightsa leading Genetic Health Assessment & Diagnostic Company has raised a $1 Mn from existing investors via Compulsory Convertible Debenture (CCD) round. This will allow the Company to continue its growth momentum. It has already turned EBITDA positive since March 2023.

Bhairavi Nagda, Investment Associate at Rockstud Capital, was interviewed by 100X.VC team to offer her insights to aspiring startup entrepreneurs. Read full interview

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Disclaimer — The article is made for informational purposes only and should not be regarded as an official opinion of any kind or a recommendation. It does not constitute an offer, solicitation or any invitation to public in general to invest in the stocks discussed. This article is confidential and privileged and is directed to and for the use of the addressee only. The recipient, if not the addressee, should not use this material if erroneously received, and access and use of this material in any manner by anyone other than the addressee is unauthorized. It shall not be photocopied, reproduced or distributed to others at any time. While reasonable endeavors have been made to present reliable data in the article, Rockstud Capital LLP does not guarantee the accuracy or completeness of the data in the article. Prospective readers are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. No part of this material may be duplicated in any form and/or redistributed without Rockstud Capital LLP’s prior written consent.

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