ACCEL PARTNERS
Global experts, CISOs, founders to converge at Accel Cybersecurity Summit in Bengaluru on July 25
The summit comes when India's cybersecurity landscape is witnessing remarkable growth, and demand for products and services is rising at a fast clip. Accel has been operating in India since 2008. The global venture capital firm said, "Accel is set to host India's largest Cybersecurity Summit in Bengaluru,"
Want a slice of AI pie? Here's what it will cost stock market investors
Retail investors are now viewing AI as a promising investment frontier, with significant potential for gains by investing in leading companies in this field. Nvidia, a maker of AI chips, has seen its stock surge threefold in the past year, making it one of the most valuable companies in the world with a market capitalisation over $3 trillion.
Urban Company makes Rs 282-283 crore revenue, pre-tax profit in Q1, says founder Bhal
Urban Company, a Gurugram-based home services platform, saw its revenue in the April-June period grow 38% at Rs 282-283 crore, cofounder and CEO Abhiraj Singh Bhal told ET. Urban Company’s profit before tax margin was 4% for the period, he added.
ETtech Deals Digest: Startup funding soars to $748.5 million this week
Startups raised $748.5 million in the third week of June, with Mumbai-based Zepto securing $665 million. This marked an eightfold increase from the previous week. Top deals included Zepto, EKA Mobility, Wrogn, OrbitShift, and Alyve Health.
Peak XV Partners most active investor in India: Hurun report
Peak XV is the most active investor in Indian startups with investments in 47 entities, according to the ASK Private Wealth Hurun India Future Unicorn Index 2024. Accel follows Peak XV with investments in 25 companies poised to become unicorns.
Ixigo's stock rally continues; retro tax relief likely for egaming cos
Shares of Ixigo continued to surge a day after the travel platform’s IPO. This and more on today’s ETtech Top 5.
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TMRW invests Rs 125 crore in Virat Kohli-backed men's wear brand Wrogn
Accel and Virat Kohli-backed men's apparel brand Wrogn has raised Rs 125 crore from TMRW House of Brands, an Aditya Birla Group venture. With this round, TMRW has now invested in eight Indian fashion brands. The startup targets men aged 18-30, offering casuals cloths, accessories know for their bold print and colours.
Virat Kohli and Accel-backed WROGN gets Rs 125 crore from Aditya Birla's TMRW
TMRW House of Brands, a venture of Aditya Birla Group, has invested Rs 125 crore in WROGN, a youth brand in casual wear founded by Anjana and Vikram Reddy in 2014. The investment adds another leading fashion brand to TMRW's portfolio, enhancing WROGN's growth trajectory in the competitive fashion industry.
Decagon raises $35 million for AI-powered customer service
Decagon, a startup in San Francisco, raised $35 million in funding led by Accel with participation from Andreessen Horowitz for its AI-powered customer support solutions. They use generative AI, popularized by OpenAI's ChatGPT chatbot, to enhance customer interactions. Decagon competes with well-funded AI startups like Forethought backed by New Enterprise Associates. Accel partner Ivan Zhou highlighted Decagon's unique product offering.
Peak XV, Steadview, and Think Investments line up to fund jewellery retailer Bluestone in pre-IPO round
Jewellery retailer Bluestone is in talks with Peak XV Partners, Steadview Capital, and Think Investments for a $100 million pre-IPO round. The investment is expected to value Bluestone at around $900 million pre-money.
Bluestone’s new investors; states & semicon hubs
Happy Tuesday! New investors are finalising Bluestone’s pre-IPO funding round. This and more in today’s ETtech Morning Dispatch.
SaaS startup Testsigma raises $8.2 million led by MassMutual Ventures
Existing investors Accel, Strive and BoldCap also participated in the round, Testsigma said on Wednesday. The company had previously raised $4.6 million in 2022.
New-age consumer brands trend on deal street
Uppercase–a luggage brand started by former VIP Industries MD Sudip Ghose–is in talks with Flipkart-backer Accel to raise new capital, sources told us. This would be the 3rd major deal in the space after Peak XV Partners’ Mokobara investment and Lighthouse’s bet on Safari.
New-age brands buzz on deal street; Unacademy founders’ voting rights
Happy Friday! New-age brands are attracting capital from VC funds, founders and other types of investors. This and more in today’s ETtech Morning Dispatch.
Sanjay Nayar’s Sorin Investments raises Rs 1,350 crore
Early-stage venture firm Sorin Investments, founded by veteran dealmaker and former KKR India CEO Sanjay Nayar, made the final close of its maiden fund at Rs 1,350 crore, sources told ET. Through this fund, Sorin will back startups looking to raise Series A funding.
Startup Vision Group head slams alarmist predictions about Bengaluru, says the city is under transformation
"Everyone has multiple responsibilities and is stretched thin. Increasing staff strength of BBMP is crucial - our ratio of municipal workers is far below that of a city like Mumbai, for example," Prakash, who is also the state's statartup vision group chairman, said in a post on X.
Groww's reverse flip to India; investors bet on gaming studios
Happy Thursday! Fintech startup Groww has completed the process of domiciling itself to India from the US. This and more in today’s ETtech Morning Dispatch.
About 90% of Indian retail market will remain offline: Accel’s Prashanth Prakash
D2C brands, primarily online-first, consider expanding to offline stores as Indian retail market grows to $2.2 trillion by 2030. Reports highlight the rise of omnichannel firms like Nykaa, Lenskart, and the shift towards omnichannel purchases.
Swiggy confidentially files draft IPO papers for $1.25 billion public listing
Swiggy, which secured a nod from its shareholders for a $1.25 billion public listing earlier this week, has made the filings through Sebi’s confidential route.
Swiggy IPO: Food-delivery major secures shareholder nod for potential $1.25 billion public offering
Swiggy IPO: Swiggy plans to raise up to Rs 3,750 crore ($450 million) in fresh capital, in addition to an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million). The food-delivery major is also looking to raise about Rs 750 crore from anchor investors in the pre-IPO round.
Good Glamm initiates arbitration against portfolio company investor IAN: sources
Legal issues have intensified for Good Glamm group as disputes over payments and investments have emerged. The company has initiated arbitration against Indian Angel Network, which served Good Glamm with a default notice. The company has also been facing senior executive exits and cost-cutting measures that led to laying off 150 employees.
Snacks maker Adukale raises Rs 11 crore in funding round
Adukale, a D2C snacks and instant foods maker, was founded in 2009. The startup sells a variety of snacks and instant food ingredients for dishes like dosa, idli and poha. This capital will primarily be used for expansion of the company’s offline presence.
Content-to-commerce platform The Good Glamm Group lays off 150 employees
The Good Glam Group said it is working with a new organisational framework to rejig its operations, which led to the layoffs over the past 15 months. As a part of this restructuring, the Mumbai-based firm has also made certain elevations, including appointment of Manan Jain as group COO, Kartik Rao as group chief people's officer, and Ashish Jadhav as group head of product.
Sprinto raises $20 million in funding from Accel, Elevation Capital, Blume Ventures
The risk and compliance automation platform for businesses plans to use the funds for R&D, improving customer experience and expanding into new markets.
VC firm Accel picks eight startups focused on AI, industry solutions under accelerator programme
Accel's 'Atoms 3.0' accelerator program aids startups in AI and Industry 5.0, offering mentorship, networking, and funding opportunities. The program's thematic design and sector-focused support drive growth and innovation for early-stage founders.
AI startup RapidCanvas raises $7.5 million in funding round led by Accel
The funds will be used for customer acquisition through marketing and sales expansion, as well as for customer retention through investment in research and development.
Tech-first VCs line up for new-age consumer brands, offline businesses
Tech-first VC Nexus Venture Partners will lead a $5 million funding round in specialty coffee brand AbCoffee and it will also invest in lab-grown diamond maker Aukera, sources told ET. Accel, one of Flipkart's earliest investors, will close a $12 million round in fast fashion brand Newme. Why are tech-first VCs lining up for new-age brands with a horde of affluent young customers?
VCs hire experts to help with exits as LPs look for returns
One of the major concerns voiced by investors regarding India consistently has been the lack of exit liquidity opportunities. To take on this problem, over the last two years, leading venture capital funds including Lightspeed, Accel and Matrix Partners India have sought out professionals with investment banking expertise.
AI push is forcing rationalisation in other parts of business: Accel's Arun Mathew
Arun Mathew of Accel discusses the impact of Covid on the SaaS ecosystem, the potential for IPOs, and the success of Accel's investments in the Indian market, including Flipkart and Freshworks.
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