Thursday, March 30, 2023
Outlook.com
Outlook India
Outlook Business
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Unicorns

The start-up and innovation culture is spurring in tier II and tier III cities in Odisha

The start-ups that are in the pipeline to become unicorns include WinZO, Doubtnut, Infinity Learn, Locus, Pratilipi, Portea, SirionLabs and others

The move has provided comfort to start-ups, but the bigger question is whether founders will be able to transfer all their money out of the bank at once, and if the system will be able to support the withdrawal process

Devendra Fadnavis highlighted that the government is focused on building world-class connectivity and aiming to stay number one in the fintech start-up space

ESOPDhan is planning to go for raising structured debt from investors and large family offices, once its current corpus is fully used up

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

The company will utilise the post-IPO capital to improve brand visibility and set up outlets

The Chennai-headquartered unicorn plans to open 100 points-of-presence globally within five years to provide a faster network to its enterprise users

Systematically strengthening its leadership, in the past year the private equity fund appointed Praveen Sridharan as partner-investments and LN Guru Moorthy as chief financial officer and partner