TLDR:
– Venture Debt crosses the billion-dollar mark, touching $1.2 billion in CY23
– Amazon India and GAME sign MOU under Saheli Program to boost rural women entrepreneurship via e-commerce
Venture Debt has crossed the billion-dollar mark, reaching $1.2 billion in CY23. This indicates a growing trend of debt financing in the startup ecosystem. Another significant development is the partnership between Amazon India and GAME under the Saheli Program, aimed at empowering over 25,000 women entrepreneurs across India with the necessary tools and training to succeed in the digital e-commerce ecosystem. Ghost Kitchens India has secured $5 million in Series A funding, led by GVFL Limited with participation from NB Ventures, LetsVenture, and Lead Angels. Byju’s EGM is underway, with Raveendran Byju skipping the event and investors filing a suit in NCLT. PhonePe has launched the Indus Appstore to compete with Google Play, offering the app store for free for the first year. Mahima Sinha’s Indic Wisdom has raised Rs 4 crores in pre-Series A round, led by Inflection Point Ventures. The Sustainability Mafia has unveiled Susventures, aiming to create 100 climate startups in three years. Spyre PropTech Venture Fund is set to launch the first phase of a Rs 400 crore Proptech Sectoral Fund. Blue Earth Capital has partnered with Aavishkaar Capital to acquire a stake in Nepra. Kusho has raised $600,000 in pre-seed funding led by Antler to build AI agents. Sirona Hygiene is considering inorganic growth through acquisitions to reach a revenue of Rs 150 crore this fiscal. The Interim Budget 2024 has a focus on innovation and skill development. B Capital is investing in cross-border SaaS, healthcare, and climate. WeWork Labs has launched Jumpstart 2024 to support early-stage startups. The government’s AI-Warehouse pilot project aims to reduce onion wastage. RBI has implemented an SRO for Fintech to foster growth in the sector.
