Startup Newsletter – September 2023

Date: 14 Oct, 2023

RC Thoughts

September proved to be a very promising month for the Indian startups with VC funding nearly doubling compared to August. The total VC funding in the month of September was more than $3.04 Bn vs. $1.8 Bn in August, representing an increase of 116% month-on-month. This was largely due to the fact that late-stage deals made a comeback, signalling a positive development for the world's third-largest startup ecosystem.

Startup Funding Scenario

Month-on-Month Funding in 2023

(Amt in $ Million)

Stage-wise Funding in Aug 2023

Other News

Zaggle, a fintech SaaS startup, makes its stock market debut, listing at INR 164 per share. Founded in 2011, the Company operates in the B2B2C segment and delivering a combined solution for spend management via prepaid cards and personnel management. Read More

DealShare, a Bengaluru-based social commerce startup has decided to discontinue its B2B business and fired over 100 employees this month. The Tiger Global-backed Company is moving its operations to Gurugram and consolidating its business to focus on Jaipur, Delhi NCR, Lucknow and Kolkata markets. Read More

The Indian Government is developing an action plan to increase startup financing, including potential modifications to the seven-year-old Startup India initiative. To evaluate the growth and performance of startups in India, the DPIIT intends to introduce indicators such as monitoring investment inflows, tracking the number of startups in specific industries, and analysing employment generation. Read More

The Securities and Exchange Board of India (SEBI) has released a circular defining the regulatory reporting requirements for Alternative Investment Funds (AIFs). AIFs shall submit the quarterly report in the updated format online on the SEBI Intermediary Portal (SI Portal) within 15 calendar days of the end of each quarter. This schedule, however, must be followed beginning with the December 2023 quarter. Read More

RC Portfolio Companies Update

Everest Fleet, an Uber-backed fleet management startup, has secured INR 50 Cr ($6 Mn) in a strategic investment round led by private equity firm Paragon Partners. The funding will be used by the firm to accelerate its expansion goals and expand into new areas. Read Here.

NOTO, a healthy, low-calorie ice cream has newly launched Macaron Ice-cream Sandwich along with crunchy coffee, coconut minibites and filter coffee gelato ice cream that you can binge eat and not just on cheat days! Buy Now.

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 link below

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