Tuesday, December 06, 2022
Outlook India
Outlook Business

Start Up Funding

Start-ups in India and elsewhere have already been hit hard by the pandemic and are now going to be impacted further by rising interest rates across the world

Founded in 2013, Alpha manages around Rs 5,500 crore across its three funds and the company provides strategies in commodities arbitrage and trading, equity, structured credit, fixed income, and an offshore platform in Singapore

The size of the venture capital fund is Rs 200 crore, of which Rs 100 crore will be contributed by the state government, Rs 50 crore by SIDBI and the remaining Rs 50 crore will be by other contributors

Apart from Red Ventures, Silver Lake, and 8VC, amongst others also participated in the funding round

The fresh capital will also be utilized to accelerate the new automation capabilities and to expand into the Beauty and Wellness Sector

A Memorandum of Understanding has been signed between the American Tamil Entrepreneur’s Association (ATEA) and Tamil Nadu Start-Up and Innovation Mission (TANSIM) regarding this

Apart from Matrix Partners India, Multiply Ventures, Better Capital, Citius Ventures and marquee angel investors like Sujeet Kumar and Hans Tung have also participated in the funding round

Apart from Temasek and PayU, MUFG Naya Global Investments and Info Edge Ventures fund have also invested Rs 75 crore, Rs 82.5 crore, and Rs 35.3 crore, respectively in the recent funding round

Apart from Inflexor Ventures, Narendra Kale and Vipul Jain have invested Rs 2.5 crore each, whereas Rakesh Puri and Manju Puri jointly invested Rs 1 crore in the company

The company raised $800K funding in the seed round in June last year led by Kalaari Capital