BLUME VENTURES
Tech-enabled construction startup Wify raises funding from Mount Judi Ventures, Capria Ventures
The Mumbai-based on-site installation and post purchase services provider said it will use the funds to penetrate deeper into existing categories. Wify will also The Mumbai-based on-site installation and post purchase services provider said it will use the funds to penetrate deeper into existing categories, company said in a statement.
Explainer: What's behind Volkswagen's USD 5 billion EV software bet on Rivian?
The tie-up is the latest in a string of deals by Volkswagen Chief Executive Oliver Blume, who took over in September 2022 after the ousting of Herbert Diess. Shifting from combustion engine to electric cars requires expertise in areas where historically Volkswagen has little experience, from charging to batteries to software.
Volkswagen's $5 billion investment in Rivian boosts EV maker's shares
Rivian secures vital funding through Volkswagen's investment, enabling the launch of new EV models. The partnership signifies a significant step towards technological advancement and financial sustainability in the competitive electric vehicle market.
Used EV sales fail to take off: Why electric resale market lags
Electric vehicles (EVs), including scooters, cars, and commercial vehicles, are surprisingly unpopular in the used vehicle market and often sell for less than similar fossil fuel-powered models, according to EV experts. One major reason is the challenge of precisely determining an EV's remaining battery life. This is crucial because batteries can make up half the cost of a new EV, significantly impacting how much a used one is worth.
Euler Motors raises Rs 200 crore from Piramal Alternatives, others
Euler Motors raised Rs 200 crore in funding led by Piramal Alternatives India Access Fund. The firm aims to become India's top electric commercial vehicle brand, with plans to expand to 40 cities by FY25.
Piramal Alternatives leads Euler Motors’ Rs 200 cr fundraise
Euler Motors, an electric three-wheeler maker, raised Rs 200 crore ($24 million) led by Piramal Alternatives India Access Fund, with British International Investment and Blume Ventures also participating. Total funding now stands at Rs 570 crore. The funds will support expansion to 40 cities and enhance R&D efforts.
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Investors taking a shine to Indian climate tech space
Over the last 12-15 months, investors such as Blume Ventures, Leo Capital and new entrants like Synapses have been betting on climate tech startups. Even global investors are looking to invest in climate tech companies.
Tata Digital’s new team; Pine Labs’ India redux
Tata Digital chief executive Naveen Tahilyani has restructured the leadership team for the Neu super app. This scoop and more in today’s ETtech Top 5.
Govt needs to boost financial support to startups: Snapdeal founder
Conversations over boosting supply of capital to homegrown startups have come at a time when the startup ecosystem is experiencing a major slowdown. According to Infosys cofounder S Kris Gopalakrishnan, there is significant wealth in the country and family offices or fund managers should allocate at least 15% of their investments to the startup ecosystem as a thumb rule.
ETtech Deals Digest: Startup funding falls 34% on year to $118 million this week
In terms of volume, total deals during the week stood at 18, compared to 32 a year ago, and 16 in the second week of May 2024. Sequentially, deal value went up about 3.3X from $35.2 million to $117.6 million.
Online astrology platform InstaAstro raises $2.3 million in funding led by Artha Venture Fund
Online astrology startup InstaAstro will use the capital to enhance the platform, onboard more astrologers, expand its footprint and build a stronger brand presence. The Noida-based company is also launching new spiritual ecommerce, daily pooja, and Reiki healing services.
Acacia Inclusion leads $45 million funding in Battery Smart
Acacia Inclusion is a new investor in Battery Smart, as are MUFG Bank and PC-SBI Kurashi Fund. Returning investors are Blume Ventures, British International Investment and Ecosystem Integrity Fund, who have increased their investment, documents filed by the firm with the Registrar of Companies showed.
VCs chasing Indian studios working on complex games
Indian studios attract investors for midcore and hardcore games like BGMI and FreeFire. Despite talent shortage, studios like Mayhem and LightFury secure investments. Monetization potential grows with UPI payments, highlighting the evolving gaming landscape in India.
LightFury Games secures $8.5 million funding from Blume Ventures, others
LightFury Games, a gaming startup launched by Karan Shroff, plans to utilise the new capital to develop AAA games in India and will initially focus on mobile gaming before expanding to other platforms, including consoles.
SaaS startup Clientell raises $2.5 million led by Blume Ventures
Clientall, which had previously raised $600,000 (about Rs 5 crore) from Chiratae Ventures and Artha Venture fund, said the new funds will be used for strengthening the product and expanding the team
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.
SaaS startup SiftHub raises $5.5 million from Matrix, Blume, others
SiftHub, led by Manisha Raisinghani, raises $5.5M from investors like Matrix Partners India. The platform integrates with various workplace apps to enhance sales processes and has signed up 18 clients. SiftHub uses retrieval augmented generation (RAG) technology and fine-tuned large language models from Azure OpenAI Service.
Sustainable packaging startup Bambrew raises $7 million in funding led by Blume Ventures
Bambrew said the funds will be used to expand into primary packaging for consumer goods, food and beverages product categories, expanding manufacturing capabilities, research and development and building a team
Small town-focused retailer SuperK raises $6 million from Blume Ventures, others
SuperK, a retail supermarket chain, raised $6 million in funding to enhance tech capabilities and expand stores. Operating in small towns, the chain focuses on private-label brands and aims for Rs 80-85 crore revenue by FY24.
Health monitoring device maker Ultrahuman raises $35 million in mix of equity and debt funding from existing investors
The round was co-led by existing backers Blume Ventures, Steadview Capital and Nexus Venture Partners, Ultrahuman’s founder and chief executive, Mohit Kumar, told ET in an interaction. Other existing investors like Alpha Wave Global and Zomato founder and chief executive Deepinder Goyal also participated in the round.
Smaller IPOs an alternative for shrinking VC exits: Blume report
According to a report from Blume, startups which are not seeing a lot of interest from growth investors, or hitting a growth ceiling and ‘feel better to build profitably than burn for growth’ should be exploring IPOs.
Blume Ventures invests $10 million in edtech firm Interview Kickstart, largest maiden cheque
US-based Interview Kickstart is a platform for working technology professionals who want to prepare to work at top tech companies. Over 20,000 people have gone through its programmes spanning AI, Machine Learning, Data Science and other advanced engineering and product areas, so far.
RBI grants payment aggregator licences to Razorpay, Cashfree, others; FirstCry’s IPO details
While the payment aggregator licence was thought to be routine initially, for the likes of Razorpay and Cashfree, it makes a big impact as they step out of the ban on bringing in new customers.
Blume Ventures sees five-fold gain from first fund
Through its first fund – a rupee-denominated fund – Blume Ventures began investing in 2011, and has backed startups such as GreyOrange, Carbon Clean, Cashify, Purplle, Zopper, Taxi For Sure and WebEngage.
India tech startups see lowest funding in five years, just two unicorns in 2023
Funding in India's tech startup ecosystem in 2023 has been the lowest in the last five years, dropping India's global ranking from 4th to 5th place, a new report showed on Friday.
Indian extended reality (XR) startups on growth trajectory: report
The term extended reality (XR) covers virtual reality (VR), augmented reality (AR), mixed reality (MR), and other technologies. It merges the real and virtual worlds, providing users an immersive experience. The report, titled ‘Accelerating India's Potential to Address the Global XR Opportunity’ which is supported by Meta, said Indian XR startups are evolving to develop global solutions, with 76% of those surveyed serving both domestic and international clients.
Pricing improvement crucial for EVs to generate $100 billion by 2030, says report
The report stressed on product development in the entry- and mid-segment to promote the adoption of EVs in India. This, Bain told ET, is interlinked with the unlocked potential in distribution and charging infrastructure for EVs.
EV maker Euler Motors raises Rs 120 crore in down round
The firm had last raised funding in October 2022, when it received an investment of $60 million at a $200-250 million valuation, per news reports and Tracxn.
Fintech startup DPDzero raises $3.2 million in funding round led by Blume Ventures, IndiaQuotient
DPDzero plans to use the funds primarily to “enhance product distribution, expedite product development, and assemble a high-calibre team”.
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