BUSINESS
Stride Ventures closes Fund II, demand for debt capital on the rise
The amount of debt disbursed through venture debt in India doubled in 2021 to $538 million from $271 million in 2019, according to Stride Ventures’ recent India Venture Debt Report 2022.
BUSINESS
Venture debt marketplace 8vdx to offer cross-border loans to startups
Startups can obtain venture loans through an intuitive interface and choose to repay in their local currency, including the British pound, the Singapore dollar and the Australian dollar.
BUSINESS
Exponent Energy raises $13 million in Series A funding led by Lightspeed
The Bengaluru-based startup plans to use the funds to scale up EV charging infrastructure e-pump network to 100 location points per city and also plans to streamline its battery pack offering
BUSINESS
SBI opens branch dedicated to startups in Bengaluru
Besides banking services, SBI is planning to house specialist officers for forex, treasury solutions, wealth management and credit needs of startups.
BUSINESS
Ola Electric unveils new electric two-wheeler Ola S1, set to launch electric cars by 2024
Ola Electric is also launching around 100 hypercharge units across India starting November 2022 to aid its new two-wheeler and four-wheeler launches.
BUSINESS
Bootstrapped SaaS firm Kovai.co mulls fundraise in next 18 months
If the firm's new products, Document360 and the customer success product Churn360, pick up at a faster pace and add more to the revenue, Kovai.co will postpone the timeline to actively look for an external investor
BUSINESS
SaaS firm CleverTap raises $105 million in series D funding round
As part of the transaction, CDPQ will be invest around $75 million and join CleverTap’s Board of Directors upon closure of this funding round
BUSINESS
SaaS firm SquadStack raises $17.5 million led by Bertelsmann India Investments
The startup aims to utilise the funding to hire top talent and strengthen its workforce for expansion. It also plans to increase its sales experts base and further expand into new verticals.
BUSINESS
India's fintech assets likely to grow to $1 trillion by 2030
More than $1 billion worth of investments were made in digital lending in 2021 and the market is expected to grow to $515 billion in book size by 2030, a report by Chiratae Ventures and Ernst & Young says
BUSINESS
RIL's JioGenNext has incubated and aided 170 startups, raised funds over Rs 2,600 crore: Annual Report
The programme has RIL’s top management members as its mentors like B. Srinivasan, president & chief of staff, Rohit Bansal, group head of communications and Shailesh Kumar, chief data Scientist at Jio
BUSINESS
Ola Electric’s sales down 42% MoM to 3,426 units in July
Ola Electric, which recalled 1,441 two-wheelers in April, is set to launch its first electric car on August 15
BUSINESS
LetsVenture joins Centre's Samridh scheme, to invest up to $100,000 in startups
LetsVenture was selected for the accelerator program earlier this year, through which the VC plans to support around eight startups in the first phase
BUSINESS
EVs, Cleantech and Web3 investments will become mainstream: Sequoia India's Shailesh Lakhani
Despite a global crypto crash and a hazy regulatory environment in India around Crypto, Lakhani said that he is bullish on the Web3 ecosystem.
