Date: 15 Sep, 2023
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
Zepto, a 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
PharmEasy, the 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 Insights, a 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
Pitch to Us/ Pitch to RC
If you're building something exciting that is catering to the youth of India then we would love to speak with you. Do reach out to us using the below link: https://bit.ly/RockstudCapitalPitchToUs
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Date: 02 Dec, 2023