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Fintech startup Jar has secured funding of $22.6 million, which has made it worth $300-million. Jar, a fintech business that offers gold-backed micro-savings, has secured $22.6 million in a Series B investment round at a value of more than $300 million, making it one of the few fintech companies to achieve a multi-million dollar round during a funding slowdown. In its previous investment round in February, the business was valued at $200 million. Tiger Global led the new round, with returning investors including Arkam Ventures, Eximius Ventures, Force Ventures, LetsVenture, Rocketship Venture Capital, and WEH Ventures. 1Finance, Capier Investments, Cloud Capital, Folius Ventures, Panthera Capital, Prophetic Ventures, Yes VC, Adam Nash, and Zachary Hargreaves are among the new investors in the Series B round. The current round of investment will be used to expand the startup's employees and continue to construct a complete, one-stop savings financial platform. Jar pre...

A financial aid of Rs 3.29 crore has been announced to a Hydrogen StartUp from Maharashtra.The funding would help India become a green hydrogen hub. Dr. Jitendra Singh, Minister of State in the Prime Minister's Office, stated that the Hydrogen Startup funding aligns with Prime Minister Narendra Modi's vision of the National Hydrogen Mission (NHM), which aims to assist the government in meeting its climate targets and making India a green hydrogen hub. On Friday, the Minister announced a financial help of Rs 3.29 crore to a Maharashtra-based Hydrogen StartUp for indigenous development of Hydrogen Sensing & Analysis Technology. "This will contribute to fulfilling the aim of producing 5 million tonnes of Green hydrogen by 2030, as well as the related growth of renewable energy capacity," the Minister stated. On India's 75th Independence Day last year, Prime Minister Narendra Modi launched the National Hydrogen Mission from the ramparts of the ...

Fundamentum Partnership plans to invest $227 million in new Indian businesses over the next five years. The scale up platform was co-founded by Nandan Nilekani, co-chairman of Infosys. Fundamentum Partnership, a scale up platform, has secured USD 227 million (about Rs. 1,793 crore) for its second fund. Nandan Nilekani, co-chairman of Infosys, jointly founded Fundamentum Partnership along with Ashish Kumar. Fundamentum intends to invest in four to five early growth stage Indian firms. Kumar stated that the money would be deployed over the next five years, mostly in Series B, which is typically the second round of investing in a company once it has hit certain milestones and is on a growth trajectory. Kumar said, "This is our second investment fund. Each year, we intend to lead or co-lead USD 25-40 million rounds and invest in 4-5 businesses." Fundamentum's initial fund, worth around USD 100 million, was carefully invested in six early development sta...

Edtech startup Sunstone has secured around Rs 280 crore in a Series C funding round. The company will use the money to expand into new programmes, with a particular emphasis on undergraduate technology programmes. Sunstone, a higher education startup located in Gurugram, announced on Friday that it has secured $35 million (about Rs 280 crore) in Series C investment led by WestBridge Capital. Sunstone was established in 2019 by Ashish Munjal and Piyush Nangru. It had secured $28 million by October 2021. The firm stated that it will utilise the current capital to grow into additional programmes, with a particular emphasis on undergraduate technology programmes. Munjal, co-founder and CEO, stated, "The Indian higher education sector is about to undergo a long-awaited revolution. Sunstone is in an excellent position to facilitate this transition and influence the lives of millions of kids." Alteria Capital also participated in the most recent fundraising ro...

MiyaHealth has secured an undisclosed amount of investment from HealthXCapital, SEEDS Capital, and Central Capital Ventura. The Singapore-based health technology company had raised $4.8 million in a pre-Series A round earlier this year. MiyaHealth, a Singapore-based health technology company, has received an undisclosed sum of funding from HealthXCapital, Central Capital Ventura, and SEEDS Capital. This is in addition to the $4.8 million it raised earlier this year in a pre-Series A round. The startup, which was founded in 2019, provides two technology platforms: MiyaPatient, a navigation platform that assists patients in managing chronic illnesses, and MiyaPayor, which combines AI-powered claims processing and predictive analytics. It is developing a third product, MiyaProvider, to improve the patient experience in hospitals and clinics. These platforms are currently used by over 3,000 medical providers and 12,000 physicians. The additional funding, according to the com...

Electric vehicle startup Exponent Energy has secured $13 million in funding. Among other things, the money will used to scale up the charging network to 100 points per city.  The company says its technology will reduce the time taken to charge an electric vehicle from three hours to 15 minutes. Exponent Energy, an electric vehicle (EV) fast-charging startup, announced a $13 million funding round led by Lightspeed Venture Partners, with existing institutional investors including YourNest VC, 3one4 Capital, and AdvantEdge VC also participating. This is Lightspeed's first investment in the electric vehicle market. Exponent Energy claims to have developed a technology that can fully charge a vehicle in 15 minutes, which is significantly less than the standard time of at least three hours.  Exponent's battery pack must be installed in EVs to ensure rapid charging, and the end user can charge the vehicle using Exponent's own charging stations. In Bengaluru , the co...

A new startup that seeks to be a companion to the elderly people has been launched in India. The company, called Goodfellows, is being backed by Ratan Tata. Goodfellows, a Mumbai-based startup founded on August 16 and backed by 84-year-old Indian industrialist Ratan Tata, aims to reach out to the elderly. Through "intergenerational friendships," it hopes to provide companionship in the sunset of their lives. The startup will hire recent graduates to assist senior citizens "in the same way that a grandchild would." These young soldiers will be referred to as goodfellows. Fortunately, a 30-year-old Cornell University graduate has taken the lead on this front. Shantanu Naidu is also a Tata employee. "The company emphasises that companionship can mean different things to different people." To some, it may mean watching a movie or retelling old stories... and we are here to accommodate it all... Mr. Tata's investment in our ventur...

Logistics startup Shiprocket has secured almost $32 Mn in a bridge round. The company  was worth around $1.2 Bn in the funding round, which makes it India’s 106th unicorn. Shiprocket has secured approximately $32 million in a bridge round led by Light Rock India and Temasek. In the funding round, the logistics startup was valued at around $1.2 billion, making it the country's 106th unicorn. This year, Shiprocket has acquired five startups and made numerous investments. Shiprocket, a SaaS-based logistics startup backed by Zomato, has become the country's latest unicorn. Shiprocket has raised $33.5 million in a Series E2 funding round led by Light Rock India. According to the startup's regulatory filing, the funding round included Singapore's sovereign fund Temasek, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle. Shiprocket allotted 59,793 Series E2 compulsory convertible preference shares (CCPS) at an issue price of INR 43,394...

India-based blockchain-based gaming startup Lysto has secured $12 million in a pre-Series A funding round. Among other things, the company that issues digital credentials on-chain for gamers, will use the money to develop its platform. Lysto, an India-based Web3 buSadiq Ahamed founded Lysto last year, and the company primarily gives digital credentials on-chain to online players when they win a tournament or game. The credentials can then be published as NFTs on the players' social media pages. The business has unveiled "Proof of Play Protocol " (PoPP), which provides industry-standardised gamer credentials and reputation. PoPP can be given out by games, competitions, or even by gamers themselves as trophies, game and social badges, and game-tester tokens. siness that offers digital credentials on-chain for gamers, revealed today that it has secured $12 million in a pre-Series A fundraising round led by Square Peg, Beenext, Hashed, Tiger Global, and Better ...

Arc, a digital bank for 'high-growth' SaaS companies, has raised $20 million in funding. Earlier this year, the business graduated from Y Combinator. Arc, a company that aims to give SaaS entrepreneurs with a "one location to borrow, save, and spend," has raised $20 million in a Series A round of investment. The business emerged from secret mode seven months ago with $150 million in debt investment and $11 million in startup money. While it is still early, Arc believes that their solution, which provides loan financing as well as digital banking services to SaaS enterprises, has generated a lot of interest. Since the fourth quarter of 2021, the company's revenue has climbed by 250% on average per month. Stripe is a partner and one of the world's largest and most valued private fintechs. When Arc first gained public attention in mid-January, the firm announced that more than 100 businesses had signed up for the Arc platform since the summer launc...

Adam Neumann, the controversial WeWork founder, is back after three years with his new business Flow, which has received the largest single-round investment from famous Silicon Valley investor a16z. However, this has failed to please the tech and venture capital communities. WeWork's infamous founder Adam Neumann, who the VCs ousted in 2019 for financial fraud, mismanagement, and managing a terrible work culture, might raise a large check again, especially in a venture bear market — and for a firm that hasn't even debuted yet. Andreessen Horowitz (a16z), a major Silicon Valley venture capital company known for its early bets on Airbnb and Twitter, made a $350 million pre-seed investment in Neumann's new business Flow last evening IST, valuing the soon-to-be-launched residential real estate firm at $1 billion (unicorn). While a16z's official blog article did not disclose any financial specifics of the transaction, the media estimated it to be $350 million, cit...

IT company Info Edge has infused a sum of  Rs 300 crore in Startup Investments. Info Edge is the owner of educational website, Shiksha.com, and other portals. In a regulatory filing on Saturday, Info Edge, has disclosed that it has put Rs 300 crore in its subsidiary Startup Investments. Info Edge owns, an educational website, Shiksha.com , an online employment portal, Naukri.com, a marriage website, Jeevansathi.com, a real estate classifieds platform, 99Acres.com, and a workplace discovery platform, AmbitionBox.com. The corporation owns 100% of Startup Investments (Holding) Ltd (SIHL), a holding and investing organisation. Info Edge said in the filing, "The present investment would aid SIHL in investigating investment opportunities, including participation in AIF(s) handled by Smartweb Internet Services." According to the filing, "The firm has committed to purchase 3 crores of -0.0001 percent Compulsorily Convertible Debentures (CCDs) with a face v...

Zomato started a restaurant funding platform, last year, to ease equity funding for restaurants or cloud kitchens by introducing them to investors.   This article shows why Zomato has halted operations of Zomato Wings, the funding funding platform. Zomato has ceased operations of its 'Zomato Wings' platform, which it established late last year to assist restaurants connect with investors in order to acquire finance. The investment community has fled due to the funding winter.  Things have been put on hold at Zomato Wings since the first quarter of this financial year. but, there is a chance that it will reopen towards the end of the year. Zomato Wings was created in November of last year as an intermediate platform for restaurant/brand/cloud kitchen equity financing. The platform brought these entrepreneurs and investors together on a single platform. However, since Zomato's stock price fell during the first six months of 2022, the company opted to focus on...

According to startup funding specialists, the backdrop of overall weak global economic confidence and growth-inflation concerns is more significant in the present dollar-rupee swing. The rupee's devaluation, which has fallen around 7% so far this calendar year, has had a negative influence on India's inflation rate by making imports more expensive, but it is also affecting startup valuation and funding. According to experts, the rupee's decline, combined with other economic concerns, has harmed startup investment. "A large majority of the VC (venture capital) funding in India is from funds that are denominated in the dollar, with funds evaluating their portfolio values and getting eventual returns from exits in the dollar," Tarun Sharma, managing partner of India-focused mid-market growth fund MegaDelta Capital, said. As a result, stock values have fallen sharply (particularly in the technology sector), with global capital sources becoming incre...

In a few months, the Harvard-founded healthtech business basys.ai plans to introduce its services in India. The startup tracks, forecasts, and offers interventions to enhance treatment outcomes for better metabolic health using its own AI technology. A healthtech business called basys.ai, which got its start in Harvard, claims that its proprietary technology can assist doctors make better clinical decisions while managing the metabolic health of their patients. To deploy its platform in these areas, the business has started talks with healthcare providers in Singapore and India. It is relying on the Ayushman Bharat Digital Mission of the Indian government, which intends to connect hospitals' digital health solutions throughout the nation. This programme is anticipated to make it possible for doctors in any hospital in India to consentorily share patient records with them. "We are interested in visiting India because we believe that this (the framework for a ...

Agritech startup Produze has secured seed funding of  $2.6 million. The company will use the money to connect Indian farm producers and global retailers. With the intention of bridging the gap between rural farmers and global merchants, Produze, a startup, has acquired $2.6 million in seed funding from venture capital firms Accel and All In Capital. The money raised, according to Produze's co-founder and CEO Ben Mathew, will be used to expand the company's distribution network, tech staff, and purchasing resources. A B2B portal called Produze enables agricultural producers, such as farmers, processors, and packing houses, to sell directly to foreign retailers. Mathew and Gaurav Agrawal, Rakesh Sasidharan, and Emil Soman, all former Ninjacart executives, formed it in February 2022. According to Mathew, Produze's platform is currently live and accepting store and farmer applications. "We currently buy directly from Indian producers in order to service ...

Cloud kitchen startup Bigspoon has secured Rs. 100 crore in a round of strategic fundraising. The company will use the money to expand its presence and to add more than 250 kitchens across 80 cities in India, South-East Asia and the Middle East Ahmedabad-based multi-brand omnichannel cloud kitchen startup, Bigspoon, has secured around $12.56 Mn (INR 100 Cr) in a round of strategic fundraising that was headed by Indian Angel Network (IAN). Institutional investors NB Ventures, Go-Ventures, LetsVenture, Grip Invest, Anicut Capital, and actor Mouni Roy also took part in the round. The business will use the money to spread out over 80 locations in India, South-East Asia, and the Middle East, adding more than 250 kitchens. The funding will also be used to increase hiring for important leadership positions and to increase investments in client technology. Along with strengthening its backward integration and adding new brands to its key categories, Bigspoon will use the inv...

Startup India is the Government of India's flagship program aimed at catalyzing startup culture and creating a robust and inclusive environment for innovation and entrepreneurship in the country in order to propel it to the next stage of economic growth.However, financial aid to entrepreneurs in the early stages has always been a tough subject, stifling many great ideas before they take flight. The startup ecosystem in India is mostly hampered by a lack of finance throughout the seed and 'Proof of Concept' development stages. The funding necessary at this point is typically make or break for entrepreneurs with solid business concepts. This is why many new company concepts fail owing to a lack of necessary cash at an early stage for proof of concept, prototype development, product testing, market entrance, and commercialization. Seed funding for such promising situations can have a multiplier effect in the validation of numerous entrepreneurs' business concept...

Cell therapy company, Eyestem, has secured Rs 51 crore in funding. The startup will remain focused on solidifying its cell therapy platform, post this funding. Bengaluru-based cell therapy startup, Eyestem, has announced that it has secured Rs 51 crore in a Series A round of funding. The round was headed by by three pharma giants — Biological E (BE), Alkem,Natco as well as promoters of Kemwell Biopharma, Anurag and Karan Bagaria. Eyestem was valued at $46.4 million (INR 371 crore) post-money by current investors Endiya Partners and KotakPrivate Equity, who also took part in this round. Eyestem, a clinical research, regenerative medicine, and ophthalmology expert-led company founded in 2016, created an experimental therapy for dry AMD dubbed Eyecyte-RPE repairs damaged retinal pigment epithelial cells and is intended to restore vision in people with early stages of dry AMD or to halt vision loss in those with later stages. The product is allogenic (from outsid...

Mumbai-based mobility startup Cityflo  is looking to become an alternative to commuting. The company, founded in May 2015, offers comfort with its luxury buses. Commuting to and from work is a misery for many working professionals. According to a MoveInSync survey, Indians spend more than two hours each day travelling to work. This is owing to the proliferation of single-passenger automobiles, which choke the roads and force commuters in Bengaluru alone to spend around 243 hours on the road each year, according to a poll. This necessitated a relatively simple solution in order to make mass transport commuting a reality. Jerin Venad, Ankit Agrawal, Rushabh Shah, and Sankalp Kelshikar founded Cityflo in May 2015, a Lightbox Ventures and India Quotient-backed mobility business that strives to provide economical and convenient bus transportation to office-going professionals in metropolitan areas. Mumbai-based Cityflo began with a single goal in mind: to provide an a...