Startups - NewNerve

BlaBlaCar Accelerates: Profitability Milestone and $108 Million Debt Line

5Apr

By AnkitNo Comments

Startups

BlaBlaCar Accelerates: Profitability Milestone and $108 Million Debt Line

BlaBlaCar, the popular carpooling platform, has achieved a significant milestone by securing a $108 million debt line. This comes after the company reached profitability, signaling its financial stability and growth trajectory. The debt financing will likely fuel BlaBlaCar’s expansion plans, enhance its services, and further solidify its position in the ride-sharing market. As the platform continues to connect travelers and drivers, this funding injection could lead to exciting developments for both users and investors. Also Read: Navi’s 90-10 Rule: Scaling Up Despite RBI’s Unsecured Loan Norms BlaBlaCar’s Background and Unique Trajectory BlaBlaCar, an iconic name in the French startup ecosystem, has been on a remarkable journey. What began as a carpooling and bus tic...

Navi’s 90-10 Rule: Scaling Up Despite RBI’s Unsecured Loan Norms

5Apr

By Ankit1 Comment

NBFC, Digital Lending, Fintech, Startups

Navi’s 90-10 Rule: Scaling Up Despite RBI’s Unsecured Loan Norms

Navi Technologies Scaling Up Despite RBI’s Unsecured Loan Norms In an exclusive interview with Moneycontrol, Navi Technologies founder and chairman Sachin Bansal revealed that despite the recent tightening of risk weight for unsecured loans by the Reserve Bank of India (RBI), the company has been scaling well. Navi Finserv, a fintech company, is currently offering its third non-convertible debentures (NCDs) with an issue size of Rs 600 crore. Notably, around 90 percentof Navi’s portfolio consists of unsecured loans, such as personal loans, while the remaining 10 percent comes from home loans. Also Read:Microfinance Sector Witnesses Robust Growth: Loan Accounts Surge 9% and NBFC Disbursements Soar 32% What’s particularly interesting is that two-thirdsof Navi Technologies’ cus...

Accel’s Atoms 3.0: Empowering India’s AI Startups for Industry 5.0 Transformation

1Apr

By AnkitNo Comments

AI, IndiaAI, Startups

Accel’s Atoms 3.0: Empowering India’s AI Startups for Industry 5.0 Transformation

In a significant development for the Indian startup ecosystem, Accel, one of the country's leading venture capital firms, has chosen eight startups that are dedicated to developing cutting-edge artificial intelligence (AI) and Industry 5.0 solutions. These startups have been selected under Accel's prestigious accelerator program, Atoms 3.0. This move not only highlights Accel's commitment to fostering innovation but also showcases the growing prominence of AI and Industry 5.0 in India's business landscape. The Rise of AI and Industry 5.0 AI has emerged as a transformative technology with the potential to revolutionize various industries. It encompasses a range of applications, including machine learning, natural language processing, computer vision, and robotics. In recent years, the ado...

Indie: The ‘SUV of EV Scooters’ with 55 Liters of Storage Space

23Mar

By AnkitNo Comments

Startups

Indie: The ‘SUV of EV Scooters’ with 55 Liters of Storage Space

River , an electric vehicle (EV) startup based in Bengaluru, has made waves with its innovative electric two-wheeler (Indie). Designed by co-founders Arvind Mani and Vipin George, this scooter boasts a whopping 55 liters of storage space, making it a game-changer for small business owners and everyday commuters alike. The ‘SUV of EV Scooters’ Storage Galore: The electric two-wheeler, aptly named Indie, is not your average scooter. It offers ample cargo space, allowing riders to transport goods efficiently. USB Charging: Indie comes equipped with a 12-liter lockable glove box that includes a USB charger, catering to the tech-savvy needs of modern riders. Investment and Recognition River recently secured a substantial investment of $40 million (Rs 335...

Pocket FM Secures $103 Million in Series D Funding Round: Expanding Globally

22Mar

By AnkitNo Comments

Technology, Startups

Pocket FM Secures $103 Million in Series D Funding Round: Expanding Globally

In a significant funding development, audio platform Pocket FM has successfully raised $103 million in a Series D funding round. Led by prominent venture capital firm Lightspeed, with participation from private markets investment firm Stepstone Group, this funding round marks a significant milestone for Pocket FM's growth and expansion plans. Expanding Presence of Pocket FM in Global Markets With the newly secured funds, Pocket FM aims to amplify its presence in key markets such as Europe, Latin America, and the United States. The company recognizes the immense potential and demand for its audio content platform in these regions, and the funding will enable them to strengthen their foothold and cater to a wider audience. Boosting Generative AI and Content Library Pocket FM has also out...

7 Startups, 1 Goal: Gruhas Gusto’s Accelerator Program Takes Off

22Mar

By Ankit3 Comments

Startups

7 Startups, 1 Goal: Gruhas Gusto’s Accelerator Program Takes Off

Gruhas Gusto, an innovative food innovation accelerator, has recently launched its maiden cohort program, marking a significant step forward in nurturing the growth of startups in the food and food tech industry. This initiative is a collaborative effort powered by Gruhas, Jubilant Bhartia Family Office, DLF Family Office, and Anthill Ventures, aiming to foster innovation and sustainability within the sector. A Diverse Selection of Startups The program has selected seven promising startups from a rigorous screening process, which saw over 200 applicants. These startups are set to embark on a six-month journey of growth, innovation, and strategic development, backed by the expertise and resources provided by the program’s partners. The Kickoff Event: Gruhas Gusto ...

A Leap Deferred: Agnikul Cosmos’ Launch Postponement, March 2024

21Mar

By Ankit2 Comments

Technology, Space, Startups

A Leap Deferred: Agnikul Cosmos’ Launch Postponement, March 2024

In a world where the stars seem just within reach, the ambitious journey of Agnikul Cosmos has faced a momentary pause. The Chennai-based startup, incubated at IIT Madras, has announced the postponement of its maiden rocket launch, originally scheduled for March 22, 2024. The mission, named ‘Agnibaan SOrTeD’ (Sub Orbital Technology Demonstrator), was set to lift off from its private launch pad within the ISRO campus at Sriharikota. The postponement comes as a result of a ‘technical issue’ identified during the full countdown rehearsals. In a statement released on social media, the company expressed that the decision was made out of an abundance of caution, prioritizing safety over haste. The new launch date is yet to be announced, but the anticipation remains high. Agnibaan SOrTeD re...

How to Participate in Startup Mahakumbh, 2024

21Mar

By AnkitNo Comments

Fintech, Startups

How to Participate in Startup Mahakumbh, 2024

Startup Mahakumbh will be a first-of-its-kind event in terms of vision and magnitude, scheduled from March 18-20, 2024, at the iconic Bharat Mandapam in New Delhi. The event is expected to have participation from more than 1000 high-potential startups from India and the globe, with key global and Indian stakeholders such as unicorn startups, global and domestic venture capitalists, corporates, and industry leaders also participating. Join the Startup Mahakumbh Revolution! Participating in the Startup Mahakumbh event is a great way to engage with India’s vibrant startup ecosystem. To participate, you can register as a delegate, exhibitor, visitor, or student. Here’s how you can apply: Visit the official Startup Mahakumbh registration page1. Choose the category that applie...

Top Funding Trends in Indian Startup Ecosystem, 2024

19Mar

By Ankit1 Comment

Startups

Top Funding Trends in Indian Startup Ecosystem, 2024

In recent times, India’s vibrant startup ecosystem has faced a challenging phase known as the ‘funding winter’. Despite being the fourth-largest venture market globally in 2023, Indian startups have experienced a downward trend in funding. Investors are exercising caution and selectivity, resulting in a significant drop in venture capital investments. Here are some key points: Venture Capital Investments Decline: In 2023, venture capital investments in India plummeted to $11 billion, a mere one-fourth of the $42 billion recorded in 2021. Late-Stage Funding Hit Hard: Late-stage funding has been severely impacted, shrinking by 82% since 2021. Seed funding has also halved. Unicorn Status: The number of startups achieving unicorn status (valuation of $1 billion) dropped ...

9Unicorns’ Fifth D-Day: Over 20 Startups Set to Secure $110 Mn Funding

18Mar

By AnkitNo Comments

Startups

9Unicorns’ Fifth D-Day: Over 20 Startups Set to Secure $110 Mn Funding

In a significant development for the Indian startup ecosystem, 9Unicorns, the venture capital fund, is gearing up for its fifth D-Day. Over 20 promising startups are poised to secure a whopping $110 million in funding. This funding event marks a remarkable milestone, especially considering the challenges posed by the pandemic and economic fluctuations. The startups selected for this funding round span diverse sectors, including SaaS, fintech, healthtech, and edtech. The investment will fuel their growth, innovation, and market expansion. With 9Unicorns’ backing, these startups are well-positioned to make a significant impact in their respective domains. This article sheds light on the thriving Indian startup landscape and the crucial role played by venture capital firms like ...