INDIAN VENTURE INVESTING
Suzuki launches Rs 340 crore investment vehicle Next Bharat Ventures for Indian startups
The company will invest in firms through a residency programme, the first of which will begin this October, with applications starting on Thursday. This will be similar to those run by Antler and Y Combinator.
Thyssenkrupp India lines up sustainable aviation fuel foray
Thyssenkrupp Industries India, whose majority shares were recently sold by its German parent company, is set to enter the sustainable aviation fuel (SAF) sector as part of its new business strategy under Indian ownership. Vivek Bhatia, the managing director, informed ET that the capital goods company is currently in the process of finalizing partnerships for its SAF initiative. SAF is an eco-friendly aviation fuel derived from non-petroleum sources, such as forestry and agricultural waste, used cooking oil, carbon captured from the atmosphere, and green hydrogen.
Fintech focused venture fund Cedar-IBSI Capital secures investment commitment from Hades Group
Fintech-focused venture capital fund Cedar-IBSi Capital has raised funding from Middle East-based AMC HFPCG. It did not disclose the size of the investment.
Govt starts taking call on Chinese investments, Indian cos Press (Note) 3
Dixon Technologies is preparing to file for Press Note 3 clearance for its proposed joint venture with HKC Corp for manufacturing liquid crystal modules, thin film transistor liquid crystal display modules and assembly of smartphones and televisions. Dixon will own majority shares. Following border tensions, the Indian government began looking askance at investments by Chinese companies in India.
Indian deep tech startups count surges in 2023 but funding plummets 77%: Nasscom
Total $850 million was raised in 2023 itself -- this is a 77% decline over $3.7 billion raised in 2022. The number of deals, meanwhile, declined by 25% in 2023 over 2022, it said.
Silicon Valley VC fund General Catalyst acquires Venture Highway; will deploy $1 billion in India
Venture capital fund General Catalyst is acquiring India-focussed early-stage investor Venture Highway to strengthen its India presence. As part of this move, Venture Highway—which has backed unicorns like Meesho and Moglix—will cease to exist and will transition into General Catalyst India. This comes in the backdrop of a larger reset in the global venture capital industry after the exuberance of the pandemic years.
- Go To Page 1
Centre seeks exemption for sovereign funds from RBI's alternate investment fund rules, sources say
The Indian government has requested the Reserve Bank of India (RBI) to exempt sovereign funds from the tightened rules concerning investments in alternate investment funds (AIFs). The RBI has asked banks and non-banking financial companies to raise provisions for AIF investments if they were also lenders to the projects in which the AIFs were investing.
8X Ventures closes India-focused deeptech fund at Rs 200 crore
8X Ventures announced the first close of its second India-focused deeptech fund at Rs 200 crore, with a green shoe option of Rs 100 crore, aiming to back 18-20 early-stage Indian deeptech startups over three years.
Winning design: As Gen Z shoppers take fancy to Indian wear, venture investors look to stitch deals
Ethnic wear brands targeting the Gen Z population and offering a variety of Indian wear products are attracting interest from venture investors, with brands like Libas and Koskii securing significant funding. The trend of young Indians wearing Indian wear to work is on the rise, with brands like Suta and Fashor experiencing growth in revenue.
Gen Z laps up ethnic fashion brands; Warburg Pincus-Whatfix deal
Happy Wednesday! Ethnic wear brands are gaining prominence among young working professionals and, in the process, attracting investor interest. This and more in today’s ETtech Morning Dispatch.
Health tech startup Alyve Health raises $5.5 million funding from Axilor Ventures, others
Health tech startup Alyve Health raised $5.5 million led by Axilor Ventures for platform enhancement and talent acquisition in Mumbai. Earlier in April 2022, it raised seed funding of $900,000 from Axilor Ventures and 1Crowd Fund.
Early-stage VC Z21 Ventures planning $40 million second fund
Z21 Ventures, an early-stage investment firm focusing on the India-US corridor, has fully deployed its first $5-million fund and is gearing up to launch a $40 million second fund. The firm, founded in 2022 by Abhinav Shashank and Raj Shekhar Singh, targets enterprise software and hardware startups with investments ranging from $100,000 to $150,000, backed by a community of Indian-origin technology executives like Google, Amazon, and Meta.
Indian venture capitalists need to pivot to a new model of investing
Indian venture investors are shifting focus from tech startups to safe havens, including direct-to-consumer brands. The trend is towards larger fund sizes, profitability, and slower growth, resembling mid-market private equity. AI investments are lacking in India, leading VCs to diversify into offline spaces and PE territory.
Brakes India forms JV with Japanese firm for advanced braking products
Brakes India and ADVICS announced a joint venture to develop and manufacture advanced braking products for the Indian light vehicle market, investing Rs 500 crore over three years. The partnership will focus on Electronic Stability Control (ESC) and leverage strengths in technology, localisation, and manufacturing processes. Products will initially target hybrid and electric vehicles, with plans to supply to the Indian market.
Brands by scions attract VC money; Ola Electric layoffs
Happy Monday! A new wave of brands founded by second generation entrepreneurs is snagging venture capital. This and more in today’s packed edition of ETtech Morning Dispatch.
PV Sindhu invests in biofortified staples brand Better Nutrition
PV Sindhu, Indian badminton player, has injected an undisclosed amount in Better Nutrition, a biofortified staples brand from Greenday that offers agri-input services such as biofortified seeds, fertilisers and agronomic practices.
How I finally entered a $5 trillion money-making venture
Indrajit hazra talks about how an Allahabad Bank account-holding man-child, at last, felt plugged into the Phiroze Jeejeebhoy Towers on Dalal Street,
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed these stories.
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.
RPSG Capital Ventures announces close of second fund at Rs 550 crore
RPSG Capital Ventures with Fund II has already invested in startups such as Supertails, Perfora, Rabitat and Headway. The investors of this fund were largely domestic, including family offices, high net worth individuals and industry veterans from the consumer sector.
Ethnic fashion brand Libas raises Rs 150 crore from ICICI Venture
Libas started going offline about 18 months ago and operates 15 store across the country. It plans to open 200 stores by 2026. “The organised Indian apparel sector is expected to grow significantly in coming years and this investment will fuel expansion across categories, and geographies with a strong focus on omnichannel experience,” said Sidhant Keshwani, founder and CEO of Libas.
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.
Zypp Electric raises $15 million from Japanese firm Eneos for India expansion
Zypp Electric confirmed funding from Eneos as part of a larger $40 million round. Existing investors like 9unicorns and IAN also participated in the fundraising. The company's revenue increased threefold to Rs 325 crore in 2023-24.
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.
PE/VC investments drop by 35% in April at $4.4 bn
In April, private equity and venture capital investments dropped by 35% to USD 4.4 billion compared to USD 6.8 billion in the previous year, as per a report by EY and IVCA. Despite this decline, the number of deals rose by 56%, totaling 98. The caution among investors is attributed to global uncertainties and ongoing Indian general elections. Large deals above USD 100 million decreased by 48% to USD 3.1 billion across nine deals.
Hope India-UK FTA not far away, says incoming FICCI UK Council chair
Priya Guha, the new chair of FICCI UK Council, and Baroness Usha Prashar discuss the India-UK Free Trade Agreement, emphasizing research, innovation, and cultural ties for a stronger bilateral partnership.
JV Ventures forays into healthcare-dedicated infrastructure platform; plans to open 75 centres in next 5 years
JV Ventures diversifies into healthcare infrastructure with The Medical Centre (TMC), investing $600 million for 75 centers. Raja Jain appointed CEO. Vishal Goel and Jasmeet Singh Chhabra express optimism. TMC to offer specialized services in major Indian cities.
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.
Indian PE, VC investments decline 35 pc to USD 39 billion in 2023: Report
In 2023, Indian PE and VC investments declined by 35% to USD 39 billion. PE dropped by 18% to USD 29.6 billion, and VC saw a sharper decline. The report highlighted global investment trends and a surge in exit values.
Load More
