Monday, July 15, 2024
Outlook India
Outlook Business

Start-Ups Raise $80 Million At 'DDay3' Event

Start-ups from 12 industries participated in the event

Start-Ups Raise $80 Million At 'DDay3' Event
POSTED ON August 18, 2023 10:48 PM

The third edition of demo day (DDay3), jointly organised by 9Unicorns and Venture Catalysts, saw the participation of several start-ups. 23 start-ups raised around $ 80 million since the event. 

“In this edition, 100 per cent of the participating start-ups have raised funds, setting them on a growth trajectory. Given the market conditions, it is a remarkable feat for us and our portfolio start-ups,” said Apoorva Ranjan, co-founder and managing director of multi-stage investment firm Venture Catalysts, which operates 9Unicorns and Venture Catalysts.  

The edition was held on 18th April 2023, which was a sequel to two triumphant one-day events where a clutch of start-ups had an opportunity to pitch to global investors, including venture capitalists and Family Offices, and raise funds. the event saw more than 700 investors and the participation of a total of 23 start-ups from across the industries.  

Soham Avlani, partner at 9Unicorns, said, “DDay 3 has been super beneficial for 9Unicorns and VCats portfolio companies in raising capital in uncertain times like today. Initiatives like DDay are helping us institutionalise portfolio development at scale. Today, DDay has strengthened our ability to raise Series A rounds of USD 3 to 10 million more efficiently from global investors.” 

Due to global uncertainty, funding for Indian start-ups has dried up in the past few quarters. In such times of hardship, DDay 3 was a unique opportunity for start-ups to raise funds, especially for those from tier II and III cities where funding rounds are few and far apart. Of the 23 startups that participated, 12 or 52 per cent were from tier II and III cities. 

9Unicorns, one of the organisers of the event along with Venture Catalysts, launched the event for the first time in 2021, where 28 out of 32 startups raised around  $128 million. DDay 2 saw startups lap up investments to the tune of about $200 million.    

“More than 60 companies have raised capital since the first DDay, and we are committed to supporting more companies in future editions,” Avlani added.

9Unicorns had done the final closure of its Rs 837 crore maiden fund earlier this year, exceeding its target of Rs 300 crore. Its portfolio companies include cosmetics brand Renee, SaaS company VideoVerse and electric delivery platform Zypp.  

Venture Catalysts is tagged as India’s 1st integrated incubator for start-ups. It combines capital, mentoring, and network for startups and has a presence in 47 cities across India with an international presence in UAE, HK, UK, USA, Canada, and Singapore.

  • Related Articles

    Nazara Technologies will also get exclusive rights to publish the games in the Indian subcontinent and the Middle East region on a revenue-sharing basis

    Nazara Invests In Snax Games, Forges Publishing Partnership For India And Middle East

    MetaShot developed a smart metaphysical gaming device with sensors and proprietary technologies which now enables console-like game experience.

    MetaShot Raises $4 Million In A Pre-Seed Round Led By Inflection Point Ventures

    Focusing on content-based platforms and deep tech, it will make investments in key areas like gaming and associated segments

    BGMI-Maker KRAFTON To Invest $150 Million In India’s Start-Up Ecosystem