Over $172 million in funding raised by 30 Indian startups last week
The Indian startups continued to raise funds at a normal pace, and last week, as many as 30 startups secured over $172.71 million in the country.
The Indian startups continued to raise funds at a normal pace, and last week, as many as 30 startups secured over $172.71 million in the country.
The country’s biggest celebration of startups saw 1,306 exhibitors, more than 165 sessions, over 392 speakers, and more than 48,581 business visitors.
These remarkable partnerships have not only laid the foundations but have also skillfully nurtured their enterprises together.
Elon Musk, the billionaire founder of Neuralink, announced on Monday that the first human recipient of an implant from the brain-chip startup underwent the procedure on Sunday and is recovering well.
This represents the largest raise at this stage for an Indian AI startup.
Funding was led by Capital-A and Anicut Capital along with other marquee investors including Ekta Kapoor, Sunil Kalra, and Sachin Mehra. Jiraaf, a platform for high-yield alternative investment opportunities also participated in the round by extending debt to Chargeup.
Astra, a rocket startup based in the US that went public last year, has fired 16 per cent of its staff as part of a wider strategy to increase the shrinking financial runway and decrease expenses.
Business-to-business (B2B) e-commerce platform Udaan, which raised $120 million just last month, has sacked nearly 350 employees who were on the regular payroll while asking hundreds of contractual workers to leave too.
With an aim to boost the technical textiles and bring the same into the mainstream, Union minister of commerce, industry, and textiles Piyush Goyal, said startups and young scientists working in such niche fields must be encouraged.
Business-to-business (B2B) e-commerce platform Udaan has raised $120 million in convertible notes and debt, as it plans an initial public offering (IPO) in the next 12-18 months amid the funding winter.
