Sunday, January 29, 2023
Outlook India
Outlook Business

Funding Winter

Piper Serica Advisors' Category 1 AIF has invested in companies like ALT Mobility, Creditwatch, ZFW Dark Stores, Driffle and Oditly

With more than $10 billion in valuation, fintech giant PhonePe has entered the decacorn club and joined Swiggy, Flipkart, Paytm and Byju's

Start-up founders are in a Catch 22 situation—in the absence of credit history and adequate collateral, they are unable to get the first line of credit and yet require timely financing to keep up with the high operational costs

Though funding dipped by 33 per cent in India, 13 unicorns managed to stay profitable in 2022, as per the latest Tracxn report

Prior to this capital infusion, the company raised $35 million last year in a Series B investment round

India is currently the home of the third largest ecosystem of start-ups after the US and China

The round was led by SIG Venture Capital, Tanglin Venture Partners, India Quotient and businessperson Ananya Goenka

IFSCA Chief Technology Officer Joseph Joshy said Indian Fintechs have started applying for the IFSCA Fintech Incentive Scheme, 2022, which has six types of grants

In India, VC investment dropped more than 50 per cent—from $7.5 billion to $2.6 billion quarter-over-quarter

As per the report, the funding rounds fell by 8 per cent, and acquisitions dropped by 18 per cent in August compared to July. Bangalore led the funding round, followed by Mumbai and Delhi