Startup Newsletter – November 2023

Date: 19 Dec, 2023

RC Thoughts

In the age of information, access to success is what everyone is seeking. In the startup investments, Indian ecosystem is now showing signs of maturity where older VC firms are working on correcting their past mistakes and new age VC firms are pushing limits of founders to ask a question that how they want to see the India around them in next decade. Bullish markets have outshined the returns but on long term basis such results have been at 12-14% CAGR whereas the private markets have given results in the range of 20%+ CAGR returns over the same duration. Only difference has been liquidity, the illiquidity and patience is what rewards an investor and India’s next decade startup investing is all about it. Staying invested and holding long term will define the winners.

Startup Funding Scenario

Month-on-Month Funding in 2023

(Amt in $ Billion)

Stage-wise Funding in November 2023

Other News

Car servicing and repair startup GoMechanic has raised $6 million in a funding round led by an undisclosed investor and its existing shareholders. The cash-strapped and troubled startup was last acquired by Servizzy, a subsidiary of Lifelong Group in March 2023. Read Here 

Travel fintech startup Scapia has raised $23 million in its Series-A funding round led by Elevation Capital and 3State Ventures. The round also saw participation from its existing investors, Matrix Partners India and Tanglin Venture Partners. Read Here 

Electric bicycle maker EMotorad raised Rs 164 crore in a funding round led by growth-stage venture capital firm Panthera Growth Partners. The funding round also saw participation from startup scaling firm xto10x, venture debt fund Alteria Capital and existing investor Green Frontier Capital. Read Here 

Clove Dental, a Chain of dental care clinics raised around $66 million in December 2022 in a round led by Investcorp, and the total investment raised by the group now stands at $116 million (Rs 963 crore). The funds would be used to rapidly grow the Clove Dental clinical network and develop a therapeutic oral care products range. Read Here

RC Portfolio Companies Update

Everest Fleet, Uber & Paragon Partner backed, achieves a milestone of having 15,000 cars within 7 years across 7 cities. Read More 

NOTO: a healthy, low-calorie ice cream for the millennial Indian with an incurable sweet tooth. It’s a good-for-you ice cream that you can binge on, guilt free, launches the new product – Greek Yogurt Cheesecakes. Buy Here 

SmartVizX which is Transforming Design Experience for the Building Industry, recently launched their new Product - Trezi's ConceptAI is your new secret weapon – turning hours into minutes, transforming ideas into stunning visual renders at lightning speed. Join the revolution where AI meets Architecture Here.

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. Link:

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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