Date: 29 Jan, 2024
Indian startup ecosystem in 2023 had learnings of building resilience and think longterm approach. These are early signs where we see the startup ecosystem overall going towards Horizon 3, a stage where innovation is driven by sustenance over disruption, driven by fundamentals of profit building, customer acquisition with longevity, more omni channel then one stream of business scaling, expanding to more grass roots in India then just targeting Metro cities. A startup generation lasts for about 7-8 years before becoming an enterprise. India has seen this from 2008-2015(Horizon-1 focusing on core problems), 2016-2023(Horizon-2, growth hungry with disruptions) and now 2024-onwards we believe will be an Era of Horizon-3 where maturity with take center stage together with India centric innovation competing large global giants.
Startup Funding Scenario
Calendar Quarter-on-Quater Funding in 2023
(Amt in $ Billion)
Stage-wise Funding in December 2023
Vegrow, a business-to-business (B2B) start-up that uses technology to sell fruits, on Wednesday raised $46 million in a funding round led by GIC, Singapore’s sovereign wealth fund.
Existing investors Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed participated in the Series C round. Read Here
Agilitas Sports, founded by Abhishek Ganguly, the former Managing Director of Puma India and South-East Asia, has raised $12.5 million from Nexus Venture Partners. This funding is aimed at developing a range of consumer brands in the sports footwear and apparel sectors. Read Here
Exponent Energy raises $26.4 million in funding led by Eight Roads Ventures for breakthrough 15-minute EV charging tech. Exponent Energy plans to expand its offering in the electric three-wheeler (E3W) space and enter the intercity e-bus segment in 2024. Read Here
Direct-to-consumer mattress maker The Sleep Company raised $23 million in a Series C funding round, which was led by Premji Invests, and Fireside Ventures. Both Premji Invest and Fireside are among the investors in the company. This investment comes 12 months after their previous investments. Read Here
Ola Electric has filed its draft red herring prospectus with SEBI for an initial public offering (IPO). The IPO will comprise Rs 5,500 crore in a fresh issue and an offer for sale of more than 95 million shares. Of them, Co-founder and CEO Bhavish Aggarwal will offload 47.39 million shares at a face value of Rs 10. Read Here
RC Portfolio Companies Update
Money Club, a deep tech group savings platform where users save money with other verified peers in government registered funds, allowing 400m lower middle-class Indians to save safely and securely, was featured in Hindustan Times as one of India's leading fintech trailblazers. Read Here
Bighaat, a global digital agri ecosystem, was ranked 7th of Deloitte India Technology Fast 50 programs, as it is a testament of our super-fast growth in terms of revenue over the last three years. Read Here
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Date: 02 Dec, 2023