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Resurgence of India’s Startup Ecosystem 🚀 In a recent panel at the ET Soonicorns Summit 2024, Kanika Mayar, Partner at Vertex Ventures SE Asia & India, discussed India's potential as a key player in global markets. With a growing focus on efficient capital deployment, the next decade promises to bring greater depth and investment into the country’s startups. She also highlighted the significance of India’s design capabilities in the semiconductor industry, alongside the essential ecosystem support required for startups to achieve global visibility. Other esteemed speakers in the panel discussion included: Amit Somani, Managing Partner at Prime Venture Partners, Prayank Swaroop, Partner at Accel in India, Ritesh Banglani, Partner at Stellaris Venture Partners and Anand Datta, Partner at Nexus Venture Partners. 🎥 Watch the full discussion on YouTube: https://lnkd.in/gPMxAU6T At Vertex Ventures SEA and India, we invest across sectors from seed to Series A/B stage. If you are fundraising, please reach out to us at https://lnkd.in/gnVbsz8H #VertexVentures #VVSEAI #IndianStartups #VentureCapital #SoutheastAsia #StartupGrowth #FounderJourney

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Centricity, a Gurugram-based #wealthtechbusiness, has raised $20 million in a seed fundraising round headed by Lightspeed India Partners, with participation from returning #investors Burman Family Office and Shantanu Agarwal, among others. Manu Awasthy, cofounder and CEO, estimates the company's current value at $125 million. The round also included investment from Korean #venturecapital firm Paramark VC, as well as a group of prominent family offices and angel investors, including MS Dhoni Family Office, NB Ventures Family Office, Aakash Chaudhry, Oyo's Ritesh Agarwal, Nvidia's Vishal Dhupar, MMG Group Family Office, and Action Tesa Family Office. Centricity intends to use the cash to grow its two platforms, Invictus and One Digital, by investing in technology and personnel, extending #privatebankingservices, and making strategic acquisitions. "We wanted to expand deep into India, so we're catering to the ultra-high-net-worth people (UHNIs), who account for around 70% of India's wealth. We are also catering to the massive #Indianmarket via a business-to-business-to-consumer (B2B2C) framework because no Indian company has successfully established a distribution network. Our goal is to create India's greatest #financialdistribution organisation, reaching practically everyone," Awasthy told ET. Centricity, founded in 2022 by former private bankers Awasthy, Gaurav Tiwari, Manish Sharma, Pushpendra Singh, and Aditya Shankar, offers a plug-and-play financial services platform for independent #financialadvisors, external asset managers, and single-family offices to manage investment portfolios. The platform also provides #digitaltransaction capabilities for a variety of products and assists financial product distributors in managing client portfolios. One Digital provides financial goods, training, and technological solutions to intermediaries such as #mutualfund distributors and insurance agents, who predominantly serve clients in tier 2 cities and beyond. Invictus simplifies #investmentmanagement for ultra-high net worth individuals and single-family offices with holdings over $12 million. Centricity currently has over 4,500 #financialdistributors on its network and manages assets of Rs 4,500 crore for 92 UHNI families. The company intends to grow its distribution network to 120 locations in the next 12 to 18 months, up from 27 now. Centricity will also use the capital to add 40-50 #privatebankers who will exclusively manage UHNI clients, as well as double its tech team from 75 to over 150 specialists who will work on #innovations such as generative AI-led modules, insurtech, and broking-tech platforms. https://lnkd.in/fzpnPPW #centricity #wealthtech #funding #lightspeed #financialplanning #startup #investment #growth #technology #fintechfunding #startupnews #financialadvisors #wealthmanagement #techstartups #growthfunding #digitalfinance Lightspeed India

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"A Budget of Ideas Deficit" As Maharashtra faces mounting debt and fundamental challenges, the 2024 budget introduces populist measures. Let's explore the need for transformative, sustainable measures that can truly drive progress. Read the blog at:

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Astrotalk, the Noida-based digital astrology consulting platform, has successfully raised $9.4 million in an ongoing funding round. The investment comes from existing investor Left Lane Capital and new investor Elev8 Venture Partners, valuing Astrotalk at $300 million. This funding will support Astrotalk's expansion into international markets including the US, UK, Canada, and West Asia. Currently, about 20% of Astrotalk's revenue is from these markets. Additionally, the company aims to grow its presence in South India and diversify its services to include e-puja offerings. Astrotalk has set ambitious targets for FY24, aiming for a revenue of Rs 620-630 crore and a profit of Rs 120 crore, a significant leap from FY23's Rs 283 crore revenue and Rs 27 crore net profit. Handling 30 lakh sessions monthly, Astrotalk continues to provide valuable astrology consulting services, leveraging its network of over 10,000 active astrologers. Puneet Gupta, Anmol Jain read full story:https://lnkd.in/dVZZ9Bna #Astrotalk #Funding #Expansion #DigitalAstrology #Investment #StartupGrowth #Innovation #TechNews #MarketExpansion #AstrologyServices #Entrepreneurship #VentureCapital #BusinessGrowth

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Stellaris Venture Partners has closed its $300M Fund III to support 25-30 startups over the next 3-4 years, reaffirming optimism in India's startup ecosystem. With over $600M in assets under management, Stellaris focuses on AI, SaaS, and fintech sectors. Key backers include Cisco, Infosys, and IFC. The fund will target inception-stage businesses, with Stellaris continuing to lead Seed and Series A rounds. The firm also announced leadership updates, appointing Naman Lahoty as Partner and adding AI/ML expert Vardhan Dharnidharka as Investment Principal. Notable portfolio companies include Mamaearth, Turno, Kiwi, and Whatfix. Stellaris' Fund III comes amid market shifts, including Peak XV downsizing its fund by 16%. Follow us for more updates! Email [email protected] to become a Channel Partner! Visit www.biztrademart.com for more information. #venturecapital #startups #funding #AI #SaaS #fintech #IndiaStartups #businessgrowth #StellarisVenturePartners #entrepreneurship #investmentopportunities #techinnovation #earlystagefunding #SeriesAFunding #emergingmarkets #IPO #publicmarkets #globalinvestment #digitaltransformation #startupsuccess #businessfunding

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Indian startups must carefully balance innovation with stability. Managing financial risks, especially during rapid expansion, is key to ensuring liquidity and long-term sustainability. Regulatory risks require navigating complex laws. Diversifying revenue streams is another strategy to mitigate risks while pursuing growth, as seen in companies like Swiggy and Paytm. In this episode, "Balancing Risk and Growth in Indian Startups," our panelists dive into questions such as: what challenges arise when driving organizational growth? How can companies strike a balance between growth and risk? And what tools and techniques support sound financial management and risk mitigation? Watch the full episode here: https://lnkd.in/gyYsxGxV Adarsh Dikshith | Vijay Y H | Sandeep U P | Krystyna Devina Lason #ETCFO #Blueprint #Leadership #FinancialManagement

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🔥Chirag Gupta , Managing Partner at🔥 8X Ventures 🚀🚀8X Ventures Announces First Close of INR 200 Cr DeepTech Fund🚀🚀 🔥🔥8X Ventures, a company that invests in early-stage startups, has announced the first closing of its new INR 200 crore deeptech fund with an option to increase by another INR 100 crore🔥🔥 🌟Fueling Innovation: 8X Ventures’ INR 200 crore deeptech fund exemplifies their commitment to fueling cutting-edge innovation, supporting the growth of transformative technologies. 🌟Empowering Pioneers: This substantial fund empowers early-stage startups to pioneer groundbreaking solutions, pushing the boundaries of what’s possible in deeptech. 🌟Driving Technological Advancement: With the first close of their deeptech fund, 8X Ventures is set to drive significant technological advancements that can revolutionize industries. 🌟Inspiring Bold Ideas: The fund's launch inspires entrepreneurs to pursue bold, innovative ideas, knowing they have strong financial backing and support. 🌟Building the Future: 8X Ventures is committed to building a future where deeptech innovations solve complex challenges and improve lives. 🌟Championing Early-Stage Startups: By focusing on early-stage startups, 8X Ventures champions the next generation of deeptech leaders and innovators. 🌟Catalyzing Growth: The deeptech fund serves as a catalyst for growth, providing the necessary resources for startups to scale and succeed. 🌟Expanding Possibilities: The option to increase the fund by another INR 100 crore showcases 8X Ventures' dedication to expanding possibilities and supporting even more groundbreaking projects. 🌟Encouraging Breakthroughs: This initiative encourages startups to strive for breakthroughs that can have a profound impact on technology and society. 🌟Commitment to Excellence: 8X Ventures’ launch of the deeptech fund reflects their unwavering commitment to excellence and their belief in the transformative power of technology. ✅️Share Your Startup Story 🚀📲 https://lnkd.in/ggir3Qap ✅️visite our website🌐 https://lnkd.in/dad4nH #CommitToExcellence #EncourageBreakthroughs #ExpandPossibilities #CatalyzeGrowth #ChampionStartups #BuildTheFuture #InspireBoldIdeas #DriveAdvancement #EmpowerPioneers #FuelingInnovation #scoopearth

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#Funding News Updates 🚀 Whatfix has raised nearly $100 Mn in primary and secondary funding, led by Sweet Nectar Investments (Warburg Pincus LLC ) and SoftBank. Founded by Khadim Batti and Vara Kumar Namburu, Whatfix delivers in-app guidance and performance support for web applications and #software products, driving user engagement and productivity. Centricity WealthTech, secured $20 Mn in a pre-seed round led by Lightspeed India. Besides returning investors Burman Family Office and Shantanu Agarwal the round saw participation from Paramark Ventures, and a group of family offices. Founded by Manu Awasthy, Centricity offers plug-and-play solutions for employee-to-entrepreneur (E2E) transitions, providing a comprehensive SaaS-based investment management platform with #digital transactional capabilities. Onsurity has raised $45 Mn in its Series B round, led by Creaegis, with participation from existing investors, including IFC - International Finance Corporation, Quona Capital, and Nexus Venture Partners. Founded by Yogesh Agarwal and Kulin Shah, Onsurity offers subscription-based #healthcare solutions for employees, contractors, and consultants. Vahan.ai, a recruitment platform for blue-collar workers, has closed a $10 Mn Series B round led by Khosla Ventures, with participation from Y Combinator, Gaingels, and Paytm founder Vijay Shekhar Sharma. Launched by Madhav Krishna, Vahan leverages #AI and #WhatsApp API to streamline the hiring process for blue-collar workers. DryMerge, has raised $2.2 Mn in seed funding with participation from Y Combinator, Garage Capital, Goodwater, Ritual Capital, and other notable investors. Co-founded by Edward Frazer and Samuel Brashears, DryMerge transforms complex no-code tools into simple, conversation-like commands, such as automating lead #management with a few words. Way2News, has raised $14 Mn in Series B funding led by WestBridge Capital, with continued support from venture capitalist Sashi Reddi. Founded by Raju Vanapala, Way2News delivers short-format #news in regional languages across India, including Hindi, Telugu, Tamil, and more. NowPurchase has secured $6 Mn in a combination of equity and debt, led by Info Edge Ventures, with participation from Orios Venture Partners, 100Unicorns, VC Grid and as well as family offices and angel investors. Founded by Naman Shah and Aakash Shah, NowPurchase specializes in procuring raw materials for metal manufacturers and optimizing their processes through its proprietary #SaaS platform and real-time pricing #bot on WhatsApp. #AnzyGlobal #Hiring #TechFunding #Startups #Investment #FundingNews #TechHiring #Recruitment

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𝐍𝐞𝐰𝐬 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐟𝐨𝐫 𝟎𝟕𝐭𝐡 𝐌𝐚𝐲 𝟐𝟎𝟐𝟒 1. 𝐀𝐠𝐫𝐢𝐭𝐞𝐜𝐡 𝐬𝐭𝐚𝐫𝐭𝐮𝐩 Superplum 𝐫𝐚𝐢𝐬𝐞𝐬 $𝟏𝟓 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐒𝐞𝐫𝐢𝐞𝐬 𝐀 𝐫𝐨𝐮𝐧𝐝   Superplum, an agritech #startup based in Noida, raised $15 million in Series A #funding led by Erik Ragatz. With previous #investors like 𝐌𝐚𝐫𝐤 𝐒𝐢𝐞𝐠𝐞𝐥 and 𝐁𝐢𝐧𝐧𝐲 𝐁𝐚𝐧𝐬𝐚𝐥, the company has now raised close to $22 million. Utilizing proprietary tech and cold-chain infrastructure, Superplum aims to revolutionize India's produce supply chain, enhancing quality, reducing waste, and improving farmer incomes. 2. 50Fin 𝐫𝐚𝐢𝐬𝐞𝐬 $𝟓𝟓𝟎𝐊 𝐥𝐞𝐝 𝐛𝐲 Arali Ventures 𝐚𝐧𝐝 𝐍𝐢𝐭𝐢𝐧 𝐆𝐮𝐩𝐭𝐚   50Fin, a #fintech startup, raised $550,000 in its latest funding round led by Arali Ventures and Nitin Gupta. With a previous pre-seed funding of $500K, the company aims to expand its distribution and scale infrastructure offerings to #NBFCs. Founded in 2022, 50Fin provides instant loans against mutual #funds and shares, boasting a streamlined process completing loan approval in just 7 minutes without physical documents or CIBIL checks. Partnering with industry giants like 𝐅𝐢 𝐌𝐨𝐧𝐞𝐲 and Bajaj Capital Ltd, the company has seen significant growth, increasing its distribution capacity by over six times. 3. DaMENSCH 𝐫𝐚𝐢𝐬𝐞𝐬 𝐟𝐫𝐞𝐬𝐡 𝐜𝐚𝐩𝐢𝐭𝐚𝐥 𝐟𝐫𝐨𝐦 𝐞𝐱𝐢𝐬𝐭𝐢𝐧𝐠 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐚𝐭 𝐟𝐥𝐚𝐭 𝐯𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧   DaMENSCH, a Bengaluru-based D2C men's lifestyle brand, secured approximately $2.5 million in its extended Series B round from existing investors including Matrix Partners India and Saama 𝐂𝐚𝐩𝐢𝐭𝐚𝐥. The bridge round, valued at around $70-75 million post-money, marks the company's return to fundraising after two years. Founded in 2018, DaMENSCH offers innerwear and casual wear through its website and major marketplaces like Amazon and Flipkart, with FY23 revenue reaching Rs 77.57 crore despite doubling losses to Rs 62.34 crore. 4. BankBazaar 𝐛𝐚𝐠𝐬 𝐑𝐬 𝟏𝟑𝟎 𝐂𝐫 𝐢𝐧 𝐞𝐪𝐮𝐢𝐭𝐲 𝐚𝐧𝐝 𝐝𝐞𝐛𝐭 𝐟𝐮𝐧𝐝𝐢𝐧𝐠   BankBazaar, an online #financial product marketplace, raised approximately $9.6 million in its ongoing Series D round via private placement, marking its first #investment in 2024. The Chennai-based company plans to utilize the Rs 80 crore raised for capital requirements and expansion. With a #valuation of around $217 million post-allotment, BankBazaar boasts partnerships with over 50 #banks and a customer base exceeding 50 million, despite reporting losses of Rs 27 crore in FY23 alongside a #revenue surge of 65.6% to Rs 159 crore. 𝐅𝐨𝐥𝐥𝐨𝐰 Corporate Valuations 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐬𝐮𝐜𝐡 𝐍𝐞𝐰𝐬 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 #news #newshighlights #newsupdates #InvestmentNews #funding #Businessvaluation #investments #startup #valuation #equity #NBFC #mergersacquisitions #funds #Seedfunding

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Clodura.AI, a provider of AI-powered sales prospecting solutions, has secured $2 million in pre-Series A funding led by Bharat Innovation Fund, with participation from Malpani Ventures. This investment will be used to enhance Clodura.AI's platform, which leverages Large Language Models and generative AI to streamline the sales process from prospecting to closure. Founded by Kapil Khangaonkar, Clodura.AI equips sales professionals with a comprehensive suite of tools for identifying key decision-makers, gathering actionable sales intelligence, and automating outreach campaigns. This significantly scales their sales pipeline by providing high-quality, up-to-date data and improving targeting and communication. A standout feature of Clodura.AI is its email cadence, which allows sales professionals to automate the creation and sending of outreach emails and follow-ups, generating more interactions and booking more meetings. This automation reduces the manual workload, freeing up time for strategic client engagement activities. The investment from Bharat Innovation Fund underscores the increasing importance of AI and automation in sales. Bharat Innovation Fund focuses on disruptive, technology-driven enterprises with significant economic and social impact. Malpani Ventures, known for early-stage strategic investments, also recognizes Clodura.AI's transformational technology. With this new funding, Clodura.AI aims to enhance its product offerings and scale operations to meet the growing demand for AI-driven sales solutions. As the sales landscape evolves, AI and automation are becoming essential for boosting efficiency and productivity. Clodura.AI is at the forefront of this change, empowering sales teams to remain competitive in a data-driven market by automating repetitive tasks and providing deep insights into potential leads, thereby increasing conversion rates and driving performance improvements. Clodura.AI is pushing the boundaries of innovation in the global sales technology market. This recent funding round highlights the company's potential and the growing investor confidence in AI-driven sales solutions. With support from Bharat Innovation Fund and Malpani Ventures, Clodura.AI is well-positioned to seize new opportunities and achieve substantial growth in the coming years. This milestone marks significant progress for Clodura.AI, reflecting the company's success in developing cutting-edge technology to address critical sales process challenges. By continually enhancing its platform capabilities, Clodura.AI ensures it adds value to sales professionals, improving efficiency and effectiveness. #CloduraAI #ArtificialIntelligence #SalesSolutions #Funding #FundingAlert #FundraiserAlert #MalpaniVentures #BharatInnovationFund #SalesTech #SalesProspecting #SalesAutomation #SalesIntelligence #AIinSales #Innovation #VentureCapital #SalesPipeline #SalesEfficiency #AllBoutCorps

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🚀 Startup Funding in India: Big Wins & Future Prospects 💸 Indian startups raised $25.2 billion in 2023, but with changing market conditions, securing funding is more challenging than ever. VCs are shifting focus to sustainable, tech-driven, and scalable ventures. With government initiatives like Startup India, funding opportunities and compliance requirements are crucial for growth. 📊 RTIwala Insight: Access exclusive government data on startup schemes, investor reports, and eligibility criteria for funding programs. Use RTIwala to file RTI applications and get critical insights that can boost your startup's funding success. Visit RTIwala.com or call +91-7999-50-6996 to stay ahead in the startup game. #StartupFunding #Entrepreneurship #RTIwala #Legaltech #AskRTIwala #Data #Income #Investment #IndianTalent #Innovation #Info #Information #GovTech #Fintech #VentureCapital #GovtSchemes #TechStartups #BusinessGrowth #DataDrivenSuccess #FundingOpportunities

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Blitzscale Technology, the parent company of WMall (BlitzScale Tech) and ShopDeck (Previously NuShop), has successfully raised ₹65.2 crore (approximately $7.85 million) in a recent funding round, marking a significant comeback after five years of dormancy. The funds will be directed towards boosting ShopDeck’s growth, expanding its operations, enhancing marketing strategies, and addressing general corporate needs. The company plans to issue 4,385 compulsorily convertible preference shares (CCPS) at ₹1,48,672 each to secure this amount. ShopDeck, founded in 2022 by Harmin Shah and Rishabh Verma, simplifies D2C commerce by helping sellers with storefront setup, pricing, shipping, and marketing. Despite facing competition from Shopify, Magento, and WooCommerce in the e-commerce sector, and rivals like Shiprocket and Shipway in shipping and marketing, ShopDeck remains focused on driving net profitability for its clients. Elevation Capital now holds the largest stake in the company with 19.3% of the shares, followed by Chiratae Ventures with 16.34%. Co-founders Harmin Shah and Rishabh Verma collectively own 43% of ShopDeck. #ShopDeck #BlitzscaleTech #Funding #FundingAlert #FundraiserAlert #Comeback #BusinessExpansion #MarketingStrategies #D2C #ECommerce #Shipping #Marketing #AllBoutCorps

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🚀 New Blog Alert! 🚀 Understanding SAFE (Simple Agreement for Future Equity) Agreements can be a game-changer for startups navigating the funding landscape. Our latest blog, "Demystifying SAFE Agreements: What Startups Need to Know," breaks down everything founders need to know about this crucial funding tool. 🔍 Dive into the essentials: What is a SAFE Agreement? Key benefits and potential pitfalls. How it compares to other funding options. Tips for negotiating the best terms. Don't miss out on this comprehensive guide designed to help you make informed decisions for your startup's future. 🌟 #StartupFunding #SAFEAgreements #InvestInStartups #VCFunding #StartupAcceleration #BusinessModel #Entrepreneurship #StartupAdvice #FundingStrategy #StartupSuccess #parsbem 👉 Read the full article here: https://lnkd.in/gXcWHBjG

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𝐇𝐨𝐮𝐬𝐞𝐄𝐚𝐳𝐲 𝐑𝐚𝐢𝐬𝐞𝐬 $7𝐌 𝐭𝐨 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐢𝐳𝐞 𝐇𝐨𝐦𝐞 𝐑𝐞𝐬𝐚𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭! 🎉 🚀 𝐌𝐚𝐣𝐨𝐫 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 𝐌𝐢𝐥𝐞𝐬𝐭𝐨𝐧𝐞 Noida-based prop-tech startup HouseEazy has successfully raised $7 million in a Series-A funding round led by Chiratae Ventures, with participation from Alteria Capital and existing investor Antler. This round, a mix of equity and debt, will propel HouseEazy’s growth across new geographies, particularly in tier 1 cities like Pune, Mumbai, and Bengaluru. 🌟 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐑𝐞𝐬𝐚𝐥𝐞 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 HouseEazy is on a mission to disrupt the $90 billion secondary real estate market, which has long been plagued by pricing uncertainty, timeline delays, and fragmented inventory. With its full-stack marketplace, HouseEazy offers real-time price quotes to sellers using a proprietary machine-learning algorithm, streamlining transactions and eliminating the need for multiple negotiations. For buyers, the platform provides exclusive access to refurbished inventory, enhanced by AR/VR tools such as 3D walkthroughs and virtual staging. 📈 𝐈𝐦𝐩𝐫𝐞𝐬𝐬𝐢𝐯𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐫𝐚𝐣𝐞𝐜𝐭𝐨𝐫𝐲 Since its seed financing in December 2023, HouseEazy has achieved a GMV ARR of ₹425 crore and is on track to hit ₹1,800 crore GMV ARR within the next 15-18 months from the NCR market alone. Co-founder Deepak Bhatia envisions HouseEazy growing to surpass many pan-India developers, given the secondary market's size—twice that of the primary market—and its untapped potential. 🛠️ 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠 HouseEazy is not just a marketplace but a complete solution for resale customers. In addition to buying and selling, the platform offers mortgage, legal, and registry facilitation services, making it a one-stop shop for all resale real estate needs. 👏 𝑪𝒐𝒏𝒈𝒓𝒂𝒕𝒖𝒍𝒂𝒕𝒊𝒐𝒏𝒔 𝒕𝒐 𝑯𝒐𝒖𝒔𝒆𝑬𝒂𝒛𝒚! KwikFundz is excited to witness HouseEazy's innovative strides in the real estate market. Wishing the entire HouseEazy team continued success as they scale new heights and reshape the future of resale real estate in India! 🏠🚀 #Startups #InvestmentNews #StartupIndia

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NelsonHall Principal Research Analyst Gaurav P. comments in today's The Economic Times' article: 'Silver lining amid funding winter: IT firms acquiring Indian startups, smaller firms'... “Armed with plenty of cash, IT services companies have found a fertile hunting ground for startups in India around deep tech, AI, and Space applications to augment capabilities, to address white spaces (gaps in their portfolios) especially in high value work like design, and above all get access to skilled resources that normally takes years to build internally. “Large IT firms have now cracked the code of the startup innovation culture and are able to integrate acquired companies with the services organization, while still maintaining a hands-off approach. It is a win-win proposition for both, with startups getting access to resources, especially in times of a funding crunch, and also to an entire gamut of Fortune 1000 companies that the IT firms serve." You can read the full article at: https://lnkd.in/gFMpiij4 #ITservices #ITS Avinash Vashistha Sameer Ranjan Bakshi

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While the edtech space has been going through a long spell of the so-called ‘funding winter’, PhysicsWallah (PW) appears close to raising a new large round. Fresh funding will be led by new investors whereas existing investors including Westbridge and GSV Ventures will also participate, three sources aware of the discussion  “PhysicsWallah is set to raise $150 million from new and existing backers,” said one of the sources requesting anonymity. “The terms of the deal have been sealed and the transaction is likely to be public soon.” This will be the second financing round for the Alakh Pandey-led firm in the past two years. PhysicWallah raised $100 million in a Series A round led by Westbridge and GSV Ventures in June 2022.  “PhysicsWallah will be valued at around $2.8 billion in the new round,” said another source who also wished not to be named. This will be over a 2.5X jump in the company’s valuation as PhysicsWallah was valued at $1.1 billion in its Series A funding. Queries sent to PhysicsWallah and Westbridge didn’t elicit any immediate response. We will carry their comments in case they respond. According to the startup data intelligence platform TheKredible, WestBridge held a 2.4% stake in PhysicWallah while GSV owned 1.44% as of the Series A round. Its co-founders Alakh Pandey and Prayeek Maheshwari cumulatively command 86.54% of the company. PhysicsWallah started with online coaching for IIT/JEE but has now become a full-fledged education firm, offering offline coaching, schools, colleges, and upskilling programmes. According to sources, about 30% of its revenue comes from JEE and NEET coaching whereas offline coaching (via Vidyapeeth and Pathshala) contributes 35% of the collection.  While the company is yet to disclose FY24 numbers, PhysicsWallah’s revenue surged 3.3X to Rs 779 crore in FY23. At the same time, the firm’s profit declined more than 90% to Rs 8.87 crore in FY23. #physicswallah #alakhpanday #pratekmaheswari#indiadailynews #indiadaily #newsdaily #startup #startupro #dailyupdates #newsupdate #newsfeed #news #dailynewspaper #dailynews #startupindia #NewsUpdate #startupnewsindia 

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