VENTURE CATALYST
![Subscription-based toy library EleFant raises Rs 6 crore in seed funding from Venture Catalysts, Malpani Ventures](https://img.etimg.com/thumb/msid-111492405,width-100,height-75,resizemode-4/tech/funding/subscription-based-toy-library-elefant-raises-rs-6-crore-in-seed-funding-from-venture-catalysts-malpani-ventures.jpg)
Subscription-based toy library EleFant raises Rs 6 crore in seed funding from Venture Catalysts, Malpani Ventures
The platform offers toys and books sourced from over 70 top brands for children aged 0-12 through its Discover-Play-Return model, versus the conventional buy-play-clutter approach. The company has a presence in 16 cities.
![Heavy machinery manufacturer Autocracy Machinery raises pre-series A of Rs 6 crore led by VC Grid, VCats and others](https://img.etimg.com/thumb/msid-111339969,width-100,height-75,resizemode-4/tech/funding/heavy-machinery-manufacturer-autocracy-machinery-raises-pre-series-a-of-rs-6-crore-led-by-vc-grid-vcats-and-others.jpg)
Heavy machinery manufacturer Autocracy Machinery raises pre-series A of Rs 6 crore led by VC Grid, VCats and others
Autocracy Machinery cater to multiple sectors such as agriculture, telecommunications, landscaping, civil engineering and infrastructural development. The Hyderabad-based company will use the funding to enhance its research and development capabilities, expand its manufacturing and marketing footprint, and drive innovation in heavy machinery technology.
![General Catalyst-Venture Highway deal; Sebi clears Ola Electric IPO](https://img.etimg.com/thumb/msid-111143631,width-100,height-75,resizemode-4/tech/newsletters/tech-top-5/general-catalyst-snaps-up-venture-highway-ola-electric-ipo-gets-sebi-nod.jpg)
General Catalyst-Venture Highway deal; Sebi clears Ola Electric IPO
Silicon Valley investor General Catalyst has acquired Indian early stage fund Venture Highway. More on this in today’s ETtech Top 5.
![Silicon Valley VC fund General Catalyst acquires Venture Highway; will deploy $1 billion in India](https://img.etimg.com/thumb/msid-111126809,width-100,height-75,resizemode-4/tech/funding/silicon-valley-vc-fund-general-catalyst-acquires-venture-highway-will-deploy-1-billion-in-india.jpg)
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.
![Drone logistics solution provider Skye Air secures $4 million funding](https://img.etimg.com/thumb/msid-111061901,width-100,height-75,resizemode-4/tech/funding/drone-logistics-solution-provider-skye-air-secures-4-million-funding.jpg)
Drone logistics solution provider Skye Air secures $4 million funding
Ankit Kumar, founder and CEO of Skye Air said this fresh funding will help the company to expand its last-mile network across Gurugram and other cities for various service like healthcare, ecommerce. Kumar added he is hopeful that his company will be able to contribute to India's drone sector growth and make India a global drone hub by 2030.
![Drone delivery startup Skye Air raises $4 million in funding](https://img.etimg.com/thumb/msid-110941509,width-100,height-75,resizemode-4/tech/funding/drone-delivery-startup-skye-air-raises-4-million-in-funding.jpg)
Drone delivery startup Skye Air raises $4 million in funding
Skye Air, a drone delivery logistics solution provider, raised $4 million to expand its last-mile network in Gurugram and other cities for healthcare, e-commerce, and quick-commerce deliveries.
ETtech Deals Digest: Startup funding in May rises 62% on year to $817 million
New-age startups raised $817.2 million in May 2024, up 62% from last year, with top investor Venture Catalysts leading funding rounds for startups like Zypp Electric.
AbleCredit raises $1.25 million in funding round led by Merak Ventures
AbleCredit raised $1.25 million in a seed round led by Merak Ventures to address the credit gap in emerging nations using innovative AI solutions, aiming to process one million loan applications for small businesses.
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.
Betting on disruptors in India’s BFSI sector: Insights from Beams Fintech Fund, Sagar Agarvwal
The Fintech and Financial Services sector has grown exponentially in the last few years, and yet much more is to be achieved. In India, the sector contributes nearly one-third of the GDP and $1.3 trn in market cap. Additionally, disruptive products by fintech companies, aided by innovation-friendly policies have made India one of the fastest-growing financial services market in the world. As a result, there are ample opportunities for investments in this space.
Apple enters JV with CleanMax to invest into rooftop solar projects in India
The solar project will have a total size of 14.4 megawatts, which will provide a local solution to power the company’s offices and the two retail stores in Mumbai and New Delhi, the Cupertino-based smartphone major said in a statement.
Aerospace parts maker JJG Aero raises $12 million in funding from CX Partners
JJG Aero secures $12 million funding from CX Partners for expansion. Anuj Jhunjhunwala aims for growth with 35% annual increase. OEMs and tier-1 vendors in US and Europe served. Hyderabad-based Jeh Aerospace also receives $2.75 million funding.
Spyre Proptech to raise Rs 400 crore in first phase of Rs 800-crore fund to invest in 30 startups
This fund will invest in early and growth stage startups with ticket sizes between Rs 2-8 crore in early stages and Rs 15-40 crore in growth stage series A and B rounds.
Bugcrowd raises $102 million from General Catalyst, others
General Catalyst led the funding round, with participation from existing investors Rally Ventures and Costanoa Ventures. The company, which was founded in Australia in 2012 but is now headquartered in both San Francisco and Sydney, declined to disclose its valuation.
Metafin secures $5 million funding from Prime Venture Partners, others
The Gurugram-based company will use the funds to expand across states, improve its loan book, enhance its technology and IoT stack, and hire new talent, it said.
Esports startup Stan raises $2.7 million in funding round
Stan had earlier raised $2.5 million in a funding round led by US-based venture capital firm General Catalyst in May 2022, it said in a statement. General Catalyst also took part in the latest round.
Jeh Aerospace raises $2.75 million in funding round led by General Catalyst
The funds will be deployed to build infrastructure, fuel growth and set up a team, the Hyderabad-based firm said in a statement on Wednesday.
Garuda Aerospace secures Rs 25 crores in funding led by Venture Catalysts, WeFounderCircle, others
The fresh capital will be allocated towards fulfilling working capital requirements associated with its existing drone orders, the company said.
Gaming startup QuriousBit raises $2 million in funding from Lumikai, General Catalyst
The funds will be used to expand the team size, currently at seven, in product and system development and in marketing its games. QuriousBit did not disclose the valuation at which the firm raised the funds.
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