Startup Newsletter – October 2023

Date: 27 Nov, 2023

RC Thoughts

Rockstud feels immensely proud to say that with the partial exit transaction from Everest Fleet, the entire invested capital of the investors was returned making Rockstud Capital select few VCs in India to return the capital in the first fund cycle within 5 years. We are elated with our success and continue to do so in our upcoming RCIF-II (2nd Fund) where the investments are going to start from next quarter onwards. The Indian startup ecosystem is continuing to grow in October, with VC funding increasing for the third month in a row, thanks to moderately sized deals. Around $4.6Bn was invested across 105 deals in October, indeed showing a good sign.

Startup Funding Scenario

Month-on-Month Funding in 2023

(Amt in $ Million)

Stage-wise Funding in October 2023

Other News

Ola Electric has raised Rs 3,200 crore in equity and debt funding from investors led by Temasek, as well as the State Bank of India, to fund the expansion of its electric vehicle business. The e-scooter maker added it will use the funds to also set up its lithium-ion cell manufacturing facility Ola Electric calls it its 'Gigafactory' in Krishnagiri, Tamil Nadu. Read More

Spacetech startup Skyroot Aerospace has secured INR 225 Cr (approximately $27.5 Mn) in a Pre- Series C funding round led by Temasek. Founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka, Skyroot builds space launch vehicles. Read More

Aequs, a precision manufacturing company, has raised $54 Mn (INR 448 Cr) in a fresh equity funding round led by Singapore-based Amansa Capital. The funding round also saw participation from Steadview Capital, Catamaran, the family office of Infosys founder N. R. Narayana Murthy, Sparta  Group, the investment office of Desh Deshpande, Amicus Capital, and other individual investors.Read More

Honasa Consumer Limited (HCL), the parent company of the D2C beauty and personal care unicorn Mamaearth, is gearing up for its initial public offering (IPO) on October 31, 2023. The company had submitted a Draft Red Herring Prospectus to the Securities and Exchange Board of India (“SEBI”) on December 28, 2022. According to a Moneycontrol report, the anchor portion of the IPO is scheduled to open on October 30. Currently, there are no plans for a pre-IPO funding round. Read More

RC Portfolio Companies Update

Everest Fleet, Uber & Paragon Partner backed, gives a partial exit to its early investors, Rockstud Capital & Artha Ventures. Rockstud Capital claimed to have made a return of 18.8X on its investment in Everest Fleet via this exit. Read More 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.


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.

Recent posts