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Startup News
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Asha Ventures Fund I receives $10 million commitment from the United Kingdom’s BII
- Asha Ventures, a Mumbai-based venture capital firm, has secured a $10 million investment commitment from British International Investment (BII).
- The funding brings Asha Ventures closer to its target of $91 million for its first fund, which raised $46 million at the initial close in December 2023.
- Other investors in Asha Ventures include the Small Industries Development Bank of India (SIDBI), the Self Reliant India Fund, the National Bank for Agriculture and Rural Development (NABARD), and family offices such as those of Ajay Parekh and Nimesh Kampani.
- Asha Ventures focuses on impact-driven investments in India, particularly in startups that address financial access, job creation, and climate resilience.
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Yourstory
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Shiprocket Aarambh returns: Powering the next wave of women entrepreneurs in India
- India is witnessing a rise in women-led startups, with 7,000 active women entrepreneurs in the country.
- However, women entrepreneurs face challenges in accessing capital, with only 11% of Indian startups having women founders.
- Shiprocket's initiative, Shiprocket Aarambh, aims to support and empower women entrepreneurs in India.
- Shiprocket Aarambh provides a platform for women-led enterprises to showcase their innovative business ideas to investors.
- The program has received over 1,200 applications, with more than 50 startups shortlisted to pitch their ideas.
- Several past Aarambh winners have made it to Shark Tank India, demonstrating the program's success in nurturing high-potential businesses.
- Winners of Shiprocket Aarambh receive Shiprocket Credits, cash prizes, mentorship, and logistical support to scale their businesses effectively.
- The program follows a simple process of application, pitching to a jury panel, and awarding cash prizes to the top finalists.
- Shiprocket Aarambh aims to create a comprehensive entrepreneurial ecosystem for women entrepreneurs, providing networking opportunities and expert feedback.
- Through initiatives like Aarambh, Shiprocket is nurturing a new generation of women entrepreneurs in India.
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SiliconCanals
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Amsterdam’s Carbon Equity announces first close of Climate Tech Portfolio Fund III at €105M
- Amsterdam-based Carbon Equity has announced the first closing of €105M for its Climate Tech Portfolio Fund III.
- The total amount raised is now €300M, with over 1,260 investors on the platform.
- The fund allows investors to support over 150 climate innovations through selected private equity and venture capital funds.
- Carbon Equity aims to create a community of motivated investors addressing climate change with their capital.
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Npengage
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School Choice and Blackbaud Software
- The article discusses the impact of school choice programs on schools, families, and public funding, highlighting the need for schools to adapt to accept these funds.
- State-funded programs vary across different U.S. states, offering options like tax-credit scholarships, vouchers, and education savings accounts (ESAs).
- Schools must navigate complex processes to receive and allocate funds, with examples from states like Ohio, Iowa, Arizona, and Florida provided.
- Regulations and requirements for school participation in choice programs can pose challenges, including paperwork, delays in payment, and potential loss of autonomy.
- Independent schools are adjusting financial aid policies, raising tuition, and marketing participation in choice programs to enhance financial sustainability.
- Blackbaud's K–12 Solutions offer tools to manage school choice funds, enabling schools to track scholarships, tuition discounts, and state vouchers effectively.
- Different methods, such as tracking fund sources with project codes and consulting legal counsel, are recommended for accurate reporting and accounting.
- The article emphasizes the importance of tailored approaches to state funding due to varying program structures and the uniqueness of each school.
- Schools considering participation in state-funded programs are advised to collaborate with internal teams, auditors, and Blackbaud representatives for successful implementation.
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Yourstory
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BlueStone, Aye Finance receive SEBI nod for IPOs
- BlueStone Jewellery and Lifestyle Ltd and Aye Finance Ltd have received SEBI's nod for IPOs.
- BlueStone is planning to raise up to Rs 1,000 crore through a fresh issue of equity shares.
- Aye Finance is targeting Rs 1,450 crore in its public debut with a fresh issue and an offer for sale.
- BlueStone is a prominent player in India's digitally enabled jewellery retail space, while Aye Finance provides business loans to micro and small enterprises.
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ISN
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Next-gen DevOps AI platform Scoutflo raises Rs 1.4 crore in a pre-Seed round
- Scoutflo, a next-generation DevOps AI platform, raised Rs 1.4 crore in a pre-seed funding round.
- The funding was led by 100X.VC, with participation from strategic investors Arjun Pillai and Prasanna Venkatesan.
- Scoutflo is an AI-powered DevOps platform that accelerates development and ensures security, compliance, and cost efficiency across cloud environments.
- The startup plans to expand its solutions, build strategic partnerships, and focus on AI-powered DevOps adoption.
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TechCrunch
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Blackbird gobbles up $50M for its blockchain-based payment-loyalty app for restaurants
- Blackbird Labs has raised $50 million for its blockchain-based payment-loyalty app for restaurants.
- The company plans to launch a cross-restaurant 'points' service called Blackbird Club and expand into new markets.
- Leading the funding round is Spark Capital, with participation from Coinbase Ventures, Amex Ventures, and Andreessen Horowitz.
- Blackbird's Flynet payment service utilizes blockchain technology and aims to improve the profitability of restaurants by reducing payment processing fees.
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Eu-Startups
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Qevlar AI raises €9 million to supercharge security operations centres with agentic AI
- Paris-based Qevlar AI raises €9.1 million in funding to enhance security operations centres with autonomous AI SOC analysts.
- The funding from investors like EQT Ventures and Forgepoint Capital International will help Qevlar AI empower SOC teams to tackle cyber threats more effectively.
- Qevlar AI's autonomous agents aim to redefine security operations by conducting investigations swiftly, accurately, and consistently, boosting SOC productivity.
- Founded in 2023, Qevlar AI assists SOC analysts in enriching, investigating, and triaging security alerts, thereby improving defense posture.
- Rising cyber-attacks and complexities, compounded by a skills shortage, drive the need for advanced AI solutions in cybersecurity, as highlighted in various research reports.
- Qevlar AI's platform has led to significant reductions in time spent on alerts, improved accuracy rates, and autonomous closure of benign alerts for organizations.
- The company's autonomous investigation API accelerates incident analysis, freeing up analysts and enhancing efficiency by up to 90%.
- The funding will support Qevlar AI's team expansion, product development, and international market growth, with plans to further revolutionize SOC capabilities.
- Damien Henault from Forgepoint Capital International will join Qevlar AI's Board of Directors as part of the latest funding round.
- Qevlar AI's innovative approach in automating threat investigations and integrating with existing security infrastructure shows promise in advancing SOC efficiency.
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Economic Times
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From friction to flight: Unblocking India’s startup and innovation ecosystem
- Union Commerce Minister Piyush Goyal's remarks at the Startup Mahakumbh in New Delhi have sparked a national debate, urging startups to pivot to high-impact sectors like semiconductors and AI.
- Short-term reforms are crucial to address startup ecosystem challenges, such as streamlining regulations, improving financial access, and tackling sector-specific issues.
- Immediate measures include restructuring the National Single Window System, introducing collateral-free loan schemes, and providing tax relief for startups.
- Targeted interventions are needed, such as capping commissions for food delivery startups and simplifying forex compliance for export-oriented startups.
- Long-term reforms should focus on transforming education, supporting innovation through R&D, and building a globally competitive startup ecosystem.
- Proposed reforms include updating ITIs, establishing a Startup R&D Fund, and creating Startup Industrial Parks to enhance infrastructure.
- India must dismantle systemic barriers to unlock entrepreneurial potential and become a global leader in innovation and enterprise.
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Siliconangle
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Corsha raises $18 million to expand machine identity security platform
- Machine-to-machine communications startup Corsha Inc. has raised $18 million in new funding to expand go-to-market efforts, launch Corsha Labs, and enhance its machine identity platform.
- Corsha offers solutions to seamlessly integrate into various environments, providing zero-trust security for application programming interfaces and machines.
- The company addresses the challenge of securing machine-to-machine communication by syncing with traditional ID providers, bringing multifactor authentication to machines, and securing and auditing M2M connections across operational technology and cloud environments.
- SineWave Ventures led the Series A-1 funding round, with participation from Razor's Edge Ventures and Ten Eleven Ventures.
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TechCrunch
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XL Batteries is using petrochemical infrastructure to store solar and wind power
- XL Batteries has developed a new type of organic battery that is cheaper, safer, and more durable than previous iterations.
- The company is targeting grid-scale storage and has commissioned a demonstration unit for Stolthaven Terminals, a petrochemical storage company.
- XL Batteries' flow batteries consist of two tanks connected to pumps that flow two fluids past a membrane, enabling efficient charging and discharging.
- The company aims to work with independent power producers to build batteries to support the grid, particularly in Texas.
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TechCrunch
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Sizl raises $3.5M to expand its cook-to-order food delivery service
- Chicago-based cook-to-order delivery service Sizl has raised $3.5 million in a recent seed round at a $12 million post-money valuation.
- Sizl differentiates itself from traditional dark kitchens by running its own kitchens with a small team and sourcing fresh ingredients from local suppliers.
- The company focuses mainly on Eastern European cuisine and offers a limited menu of 60 items, including family recipes and everyday meals.
- Sizl plans to use the funding to open more kitchens in Chicago, expand to other cities, and has a Series A round planned for later this year or early 2026.
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Yourstory
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Alcatel partners with Flipkart, earmarks $30M to restart smartphone biz in India
- French tech brand Alcatel is investing $30 million to re-enter India's smartphone market.
- Alcatel plans to sell locally-made smartphones and target the above Rs 20,000-25,000 price segment.
- The company will partner with Flipkart for online sales and initially focus on the Indian market.
- Alcatel aims to become a leading brand manufacturer in India and has long-term plans for investment and growth.
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Inc42
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BlueStone, Aye Finance Get SEBI Nod For Their IPOs
- Markets regulator SEBI has approved the IPOs of BlueStone and Aye Finance.
- SEBI issued observation letters to both companies, indicating no immediate concerns.
- BlueStone filed a draft prospectus for a ₹1,000 Cr IPO, while Aye Finance filed for a ₹1,450 Cr IPO.
- SEBI is still reviewing IPO papers of PhysicsWallah and DevX.
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ISN
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Neo Asset Management hits first close of second private credit fund at Rs 2,000 crore
- Neo Asset Management has announced the first close of its second flagship private credit fund, the Neo Special Credit Opportunities Fund-II (NSCOF-II), at Rs 2,000 crore.
- The registered Category II Alternative Investment Fund is targeting a total corpus of Rs 5,000 crore and focuses on providing structured credit to mid-market, EBITDA-positive companies.
- NSCOF-II's strategy involves extending credit backed by substantial hard asset collateral and regular coupon payments.
- The first close of NSCOF-II attracted family offices, ultra-high net-worth individuals, and institutional investors, demonstrating the growing interest in private credit strategies.
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