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VIE Stories
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Jay Hao, the former CEO of OKX, becomes a co-founder of the Indian blockchain firm CIFDAQ
- Jay Hao, former CEO of OKX, has become a co-founder and worldwide COO of CIFDAQ, an Indian blockchain firm.
- CIFDAQ is preparing to launch a centralised crypto exchange and wallet, promising to operate with high safety and cybersecurity standards.
- Hao led OKX's expansion into India, UAE, and Latin America, and aims to create a financially prudent ecosystem at CIFDAQ.
- CIFDAQ uses machine learning to improve bug detection and quality assurance for smart contracts on their blockchain.
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SiliconCanals
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Swedish clean energy company Aira raises €63M; aims to grow the green skills workforce
- Swedish clean energy company Aira has raised €63M in equity funding.
- The funding is part of an upsized €145M Series B round closed earlier this year.
- Aira aims to advance its efforts in electrifying residential heating across Europe and reduce CO2 emissions.
- The company plans to expand into Germany, Italy, and the UK while promoting the development of a green skills workforce.
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TechCrunch
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Zepto eyes $100M from Indian offices in third funding in 6 months
- Indian quick commerce startup Zepto is in talks to raise $100 million in new investment, its third funding in the last six months.
- The Mumbai-based startup plans to raise funds from Indian family offices and high net worth individuals.
- The new investment values Zepto at a post-money valuation of $5 billion.
- Zepto is planning to go public next year and aims to bring more Indian investors on board before its IPO.
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VIE Stories
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Aditya Birla Digital Fashion invests Rs 75 crore in Virat Kohli-backed Wrogn
- Aditya Birla Digital Fashion Ventures Ltd., a subsidiary of Aditya Birla Fashion and Retail Ltd., has invested Rs 75 crore in men's apparel business Wrogn.
- The investment aims to expand Aditya Birla Digital Fashion's portfolio of digital-first brands.
- Wrogn, co-founded by Virat Kohli, offers casual clothing, footwear, and accessories for men aged 18-30.
- The brand operates through both online and offline retail channels.
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Startupreporter
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Raveum Has Officially Paved the Way for Indian Investors to Enter the U.S. Property Market
- Indian investors can now own a share of premium U.S. real estate through Raveum.
- Fractional ownership starting at ₹10,000, granting access to properties in New York, Miami, and Boston.
- Investors benefit from property appreciation, rental income, and dollar appreciation while diversifying their investments.
- Raveum simplifies U.S. real estate investing with a seamless online process and handles logistics for investors.
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Eu-Startups
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Reykjavik-based Moombix raises €2.27 million to scale its online music learning platform
- Moombix, an online music learning platform based in Reykjavik, has raised €2.27 million in a seed funding round led by Frumtak Ventures.
- The funding will be used to scale the Moombix marketplace, improve user experience, and prepare for a strategic launch in the UK.
- Moombix aims to provide a personalized learning platform by onboarding talented teachers and musicians from diverse musical disciplines.
- The platform offers flexible one-on-one lessons with expert teachers, making music education accessible to adults.
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Eu-Startups
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Berlin-based Vay gets €34 million in venture debt to launch teledriven car-sharing services
- German teledriving technology startup Vay has secured a €34 million loan from the European Investment Bank (EIB) to expand its operations in Europe.
- The loan will help Vay accelerate the development of its technology that allows a vehicle to be safely driven by a trained human driver located at a remote teledrive station.
- Vay plans to offer door-to-door car sharing in more cities in Europe and North America while establishing business partnerships with car manufacturers and other strategic players.
- Teledriving provides efficient, sustainable, and cost-effective mobility, and Vay aims to strengthen the confidence and trust in its services for a commercial rollout in European cities.
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Economic Times
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Zepto in talks with Indian family offices like Motilal Oswal to shore up another $100-150 million
- Quick commerce firm Zepto is in talks to raise another $100-150 million from domestic family offices and high-net-worth individuals.
- Motilal Oswal Asset Management Company has already committed $40 million in this round.
- Zepto's total funds raised would exceed $1.5 billion in a span of four months.
- Zepto faces competition from Swiggy Instamart, Blinkit, Minutes, and BigBasket in the quick commerce sector.
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Inc42
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TVS Capital Funds Boosts Leadership With Two Key Elevations
- TVS Capital Funds has elevated Rajalakshmi Vaidyanathan to the role of Principal and Suraj Majee to Vice President.
- The move aims to drive growth and enable investments in financial services.
- Vaidyanathan has led strategic initiatives and established the firm's in-house research team.
- Majee has played a significant role in executing investments and exits.
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Inc42
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Lendingkart Seeks Down Round Amid Cash Crunch
- Fintech startup Lendingkart is seeking a down-round of funding amid a cash crunch.
- The company is looking to raise fresh capital at a lower valuation from its existing investor Fullerton Financial Holdings.
- The valuation of Lendingkart is expected to drop to $100 million from approximately $350 million in 2020.
- Lendingkart is facing asset quality problems and increased non-performing assets, leading to the need for capital infusion.
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VIE Stories
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Semiconductor Industry in India
- India's semiconductor industry is growing rapidly as the government aims to make it a global hub for chip manufacturing and design, with it's domestic market size being a major draw for many firms.
- The Indian government has also taken lots of initiatives which includes 'Make in India' and 'Production Linked Incentive (PLI)' to encourage entrepreneurs and investors.
- Factors that favour India as a major player in the semiconductor industry include a cost advantage with labour costs being lower than in developed countries, an efficient supply chain and the emerging ecosystem with skilled workforces.
- India leads globally with a significant number of science, technology, engineering and mathematics (STEM) graduates, essential for semiconductor manufacturing, design, research, and development.
- The country's semiconductor market was valued at US$ 26.3 billion in 2022 and is expected to reach US$ 271.9 billion by 2032, by growing at a CAGR of 26.3%.
- India emerged as a preferred destination for back-end assembly and testing operations amid the industry's relocation. India's involvement in the front-end manufacturing process is also expected to increase and it's stable political environment and large domestic market makes it attractive for technology companies.
- The Indian government has established the India Semiconductor Mission (ISM) and is aimed at fostering a robust semiconductor and display ecosystem, to make India a key player in the semiconductor manufacturing.
- Several domestic and international bodies, like Tata Electronics have made significant investments in the Indian semiconductor industry, highlighting India's potential as a global center for semiconductor production and giving it an advantage in attracting more investments.
- In conclusion, India has lots of potential in the semiconductor industry with growing investments supported by ongoing government backing and policies.
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VIE Stories
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[Funding News] Primus Senior Living Raises $20 Million in Funding Led by General Catalyst and Gruhas
- Primus Senior Living, an eldercare firm, raised $20 million in venture funding, with General Catalyst providing $7 million. Gruhas, co-founded by Zerodha co-founder Nikhil Kamath and Puzzolana Group’s Abhijeet Pai, invested the remaining $13 million.
- Primus Senior Living offers home-based healthcare, wellness, lifestyle, and social interaction services to seniors. The company runs 500 homes in Bengaluru and plans to expand its services to other cities with the new funding.
- Adarsh Narahari, the creator of Primus Senior Living, emphasizes the need for comprehensive eldercare solutions in India. General Catalyst's investment marks their first significant investment in India's eldercare sector.
- Investor interest in the eldercare sector is evident with recent investments in Age Care Labs, Kites Senior Care, and Khyaal.
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Yourstory
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Tetr College of Business launches $10M fund for student entrepreneurs
- Tetr College of Business launches $10M fund called 'Tetr - Under 20' for student entrepreneurs.
- The fund aims to support a minimum of 20 innovative ideas in areas such as AI, emerging technologies, and sustainability.
- Selected students will receive mentorship, facilities, and industry connections through Tetr's global incubation network.
- Investors will receive equity in the startups, and a portion of the fund is specifically allocated for startups founded by Tetr's students.
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Startupreporter
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Dr. Annie Stanley Thakore- A Visionary Leader’s Journey to Success
- Dr. Annie Stanley Thakore, Group CEO of Pranaam Hospitals, is a visionary leader in the healthcare sector with extensive qualifications.
- Under her dynamic leadership, Pranaam Hospitals has flourished, expanding its services and maintaining a commitment to patient-centered care.
- She has implemented world-class healthcare practices and policies, resulting in strategic collaborations and continuous growth.
- Dr. Annie Stanley Thakore remains committed to advancing healthcare quality and shaping the future of healthcare delivery in India.
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VIE Stories
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Zerodha establishes $1-million annual open source software fund
- Zerodha, a stockbroking platform, has established a $1 million annual fund for Free/Libre and Open Source Software (FOSS/FLOSS) organizations.
- The fund aims to provide financial assistance to FOSS projects globally, with an initial commitment of $1 million.
- Zerodha has been utilizing FOSS stack for a long time to develop financial technology products and services.
- The company plans to allocate $10,000 to $100,000 to various projects and may increase the funding in the future.
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