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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.
Tata Motors wants EV sops extended; Peak XV's new fund
Tata Motors, which dominates the local EV market with a share of more than 70%, wants New Delhi to help replicate an enabling environment similar to the one in China that has pledged to support adoption of electric vehicles until unit sales touched at least a fifth of all new cars sold.
India needs more founders with deep technical expertise: Peak XV’s Rajan Anandan
The next frontier for the country’s entrepreneurial landscape would be to foster industries built on intellectual property which can be addressed over the next two decades, Anandan said during a fireside chat with Deepak Dara of Ontario Teachers’ Pension Plan at the Indian Venture and Alternate Capital Association (IVCA) event in Mumbai.
Indian founders engage with Nvidia in Silicon Valley
This was part of an immersion trip organized by Peak XV as part of the closing of the ninth cohort of Surge, which is Peak XV's scale up program for early stage startups.
Shift in sentiment: Angel investors exercise caution amid changing startup dynamics
The Indian startup scene has seen a shift in angel investor focus, with many investors becoming more cautious. In 2020, angel investors like Reshbha Munjal and Zuhaib Khan shifted their investments to private markets after seeing the success of companies like Flipkart and Ola. However, some investors have faced challenges, with startups ceasing operations and struggling with fundraising.
Consumer tech market set for growth surge; Kunal Shah on fintech regulations
The consumer technology market in India will likely touch $300 billion in the next four years, while online retail could top $160 billion by 2028, reports suggest. This and more in today’s ETtech Morning Dispatch.
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Hospitality startup Elivaas raises $2.5 million in seed funding led by PeakXV’s Surge
Cofounded by Ritwik Khare and Karan Miglani, Elivaas functions as a management platform for villas and luxury apartments, assisting homeowners monetising, monitoring, and maintaining their vacation properties. The newly-acquired funds will be used to establish a larger market presence across major cities in India and to scale its technology platform, the company said.
Zerodha, Groww together control almost 40% market share of stock broking industry
The latest data from NSE shows that Groww, backed by the likes of Sequoia Capital and Tiger Global, is now the largest player in the industry if one takes into account the number of active clients on the stock exchange. At the end of September, Zerodha's market share remained the same month-on-month at 19.4% while those of Groww rose to 19.9%.
ETtech Deals Digest: Startups raise $86 million in funding this week
Funding in Indian startups plummeted almost 38% from $139 million raised across 33 rounds in the same period last year, according to data provided by market intelligence firm Tracxn.
Sequoia Capital exits Quick Heal Tech via open market sale; Happiest Minds promoter sells part stake
The venture capital firm sold 13,60,975 shares of the company at Rs 240 apiece on the BSE, and 4,25,000 shares on the NSE, bulk deals data showed.
Used car startup Spinny lays off around 300 employees
The layoffs are part of a restructuring exercise that will also see its budget and luxury car offerings — Truebil and Spinny Max — being merged into the main Spinny platform.
Star founder Byju Raveendran broke down in tears as crises engulfed Byju’s
Byju Raveendran, founder and CEO of education-technology start-up Byju's, has been in crisis mode since his company was raided in late April.
Exclusive: Mojocare investors weigh legal action against founders
Draft note circulated among investors says founders inflated revenue; final forensic report expected in 10 days.
Financial irregularities found at healthcare startup Mojocare after review, say investors
A clutch of investors, including Peak XV Partners (erstwhile Sequoia India), Chiratae Ventures and B Capital, had initiated a review of the said financial statements of Mojocare.
Sequoia makes first defense tech investment in Mach Industries
Sequoia's funding of a technology that aims to use hydrogen creation on the battlefield signals the latest interest from Silicon Valley investors in backing technologies that bolster U.S. national security and working with the Department of Defense.
Cybersecurity outfit SquareX raises $6 million in funding from Sequoia Capital SEA
The company said it will use the proceeds from the round to enhance its engineering research and development efforts, and speed up its go-to-market function.
Dozer raises $3 million in funding, emerges from stealth mode
The funding round, led by Sequoia Capital India and Southeast Asia’s Surge, also saw participation from Gradient Ventures and January Capital, the statement said.
Sequoia’s Surge unveils its eighth cohort of 12 startups
The eighth cohort features 30 founders who will go through a 16-week programme that offers support for their startups to scale-up, along with $1-$2 million in capital from Sequoia and co-investments from other investors, Surge said in a statement on Wednesday.
Tazapay raises $16.9 million from Sequoia Capital, others in fresh funding
Existing investors Foundamental, January Capital, RTP Global and Saison Capital also participated in the latest round of funding.
Engineering analytics startup Hatica raises $3.7 million in funding led by Sequoia Capital's Surge
Hatica’s platform, aimed to increase software developers’ productivity, aggregates activity from all work apps and builds insights and software engineering dashboards to help teams drive efficiency.
Logistics management company Locad raises $11 million
Locad said it has raised $11 million in a Series-A funding round led by Reefknot Investments. The funding round saw participation from existing investors Sequoia Capital India and its Southeast Asia Surge fund, Febe Ventures, Antler, as well as new investors Access Ventures, JG Summit and Western Technology Investment.
RO water supplying startup DrinkPrime raises Rs 60 crore in funding
While the equity component was led by Omidyar Network India, Sequoia Surge, and 9Unicorns, the debt came from Northern Arc Capital and Unitus Capital.
Sequoia Surge to raise ceiling for seed-stage investments to $3 million
So far, Surge had a maximum investment ceiling of $2 million to invest in seed deals across India and Southeast Asia (SEA) but the Menlo Park- headquartered venture capital firm will take it up to $3 million with no minimum cap.
Video platform Dyte raises $11.6 million in funding led by Unbound, Sequoia’s Surge
The new funds will be used to expand the startup's product and technical teams, with an emphasis on foreign hires.
IVCA elects executive Committee for 2022-24
IVCA acts as a go-to body between the government, policymakers and regulators representing the PE/VC Industry.
Accel raises $650 million for new fund; will continue to focus on early-stage investments
The new fund comes three years after it mopped up $550 million as the VC firm continues to focus on early, seed and pre-seed stage startups, according to senior executives at Accel.
Sequoia Surge launches sixth edition with 20 early-stage startups
With the sixth cohort, the Sequoia Surge community now includes 246 founders from 112 startups across more than 15 sectors, including SaaS, developer tools, edtech, cybersecurity and fintech.
Mesh raises $5 million in funding led by Sequoia Capital India's Surge
Mesh offers employees an ongoing sense of progress with an easy way to manage goals
Multiplier lands $4 million funding led by Sequoia's Surge to simplify international hiring
Multiplier provides integrated solutions that allow companies to hire talent from anywhere in the world with all compliance taken care of.
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