Ola Electric, one of India’s first automakers to bypass traditional dealerships and deliver vehicles directly to customers, has encountered its fair share of teething problems with this distribution model. It has already had to postpone deliveries several times, which explains why software engineer Syed Rabbani is among the thousands of customers who have received their Ola S1 Pro electric scooters at home. He had to wait months for his purchase, but he didn’t have much of a choice. Living in the small town of Guntur in Andhra Pradesh, Rabbani didn’t…

INDmoney, a wealth management firm, has raised $75 million in a new round of funding from existing investors including Tiger Global. The new funds for the Bengaluru-based company come after a two-year hiatus. INDmoney has approved the allotment of 42,636 Series D preference shares at a price of Rs 562.5 crore (approximately $75 million). Tiger Global, Steadview Capital, and DF International Partners have each invested Rs 187.5 crore (approximately $25 million). Kashyap’s stake in the company has been reduced from 35.63 percent to 31.09 percent as a result of the…

Your-Space, a student housing startup, has raised $10 million (roughly Rs 75 crore) from a group of investors for business expansion and growth. Your-Space said in a statement that the amount was raised in Series-A funding through a combination of pure equity and convertible debentures. Personal investments from Shantanu Rastogi (General Atlantic) and Ajay Gupta’s (Capital Foods) family offices AJAX Capital and Holy Basil Consultancy led the funding round. Manish Choksi’s (vice chairman of Asian Paints) family office, Sunidhi Group’s family office, and Sanjaya Gupta (former MD & CEO of…

Verve Financial Services’ compliance and regulatory service provider IndiaFilings.com announced on Monday that it has completed a $4.3 million secondary sale, bringing on board BeeNext, Udtara, and angels. The promoters and early angels of the bootstrapped company sold some of their shares to the incoming investors. IndiaFilings, founded in 2014, offers over 200 services to small businesses to help them stay compliant and manage their regulatory requirements. To provide regulatory and accounting services at scale, the company leverages its in-house technology stack. The company is profitable and has a revenue…

DeHaat, an agritech firm, announced on Monday that it has acquired Helicrofter, an agri-input marketplace startup, in order to expand its presence in Maharashtra and other parts of West India. The deal’s value was not disclosed by the company. DeHaat, founded in 2012 and based in Gurugram (Haryana) and Patna (Bihar), is a technology-based platform that provides farmers with end-to-end agricultural services. Amrendra Singh, Shyam Sundar, Adarsh Srivastav, and Shashank Kumar, all IIT, IIM, and NIT alumni, founded it. DeHaat CEO Shashank Kumar stated that with the integration of Helicrofter,…

Karnataka received 14 of the 46 national startup awards announced and distributed by the central government on Saturday, the most of any state. The Centre received 459 nominations from startups across the state. There were 2,177 applications from across the country in a variety of sub-sectors. Chief minister Basavaraj Bommai stated that Prime Minister Narendra Modi has been a significant supporter of the sector, and that his government’s goal is to replicate Bengaluru’s success in the startup ecosystem in other districts. Tinkerbell, Steradian, and Tagbox are among the 14 national…

Dozee, a health-tech startup that provides remote monitoring solutions, has raised Rs 71.3 crore ($10 million) in a new round led by Gokul Rajaram. In July of last year, the company raised $6 million in a Series A round led by existing investor Prime Venture Partners. According to its regulatory filing with RoC, Dozee has approved the allotment of 9,599 Series A1 preference shares and one equity share at an issue price of Rs 74,220 per share to raise Rs 71.3 crore in what appears to be an extended Series…

Commerce and Industry Minister Piyush Goyal on Friday urged global venture capital funds to focus more on startups in the country’s tier 2 and 3 cities and explore new investment sectors. The minister, who was chairing a roundtable with global venture capital (VC) funds, stated that the government has already taken a number of steps to support startups and will continue to do so in the future. Goyal invited venture capital funds to explore new investment sectors, promote and protect intellectual property created by young Indian entrepreneurs, provide expertise to…

INDIAFirst Tech Start-up series is an upcoming event of AICRA to encourage technology startups and AICRA members to work together and create partnerships that are beneficial to both the stakeholders and this event will be taking place at Hotel Le-Meridian, New Delhi on 17th-18th Feb 2022. It is a great opportunity for the new startups to get a platform where they can meet many great leaders , industry experts and get to know how to build your business effectively and efficiently. This conclave brings together various innovators, venture capitalists, government…

For anyone to grow, it requires a perfect place and environment, Things can be changed in a few seconds it just takes courage and risk to be taken by an individual. Today, with Stand-Up India moto Startups have taken a boom to grow as somebody’s passion or somebody’s need or somebody’s desire. AICRA as established in 2014 continuously tries to devote itself to the growth of Individuals by providing various courses and organizing events to provide a place to be explored by people for their sake. This year AICRA decided…