What does startup ecosystem expect from the Budget; Meet India's newest entry to the 'unicorn' club
Ola's electric vehicle arm Ola Electric Mobility enters the coveted 'unicorn' club after securing funding of over Rs 1,725 crore (about $250 million) from SoftBank. Regulatory documents reveal that the company issued 4,326 fully and compulsorily convertible series B preference shares of the face value of Rs 10 each. Earlier this year, a report by CB insights put India at the fourth place in global unicorn ranking. Perhaps, by the end of the year, we'll be the third - or better yet, the second?
The Startup India fund, known as Fund of Funds for Startups (FFS), disbursed Rs 515 crore during the three months of the calendar year to various VC funds for further downstream investment into startups. In the April-June quarter, the FFS disbursed Rs 856 crore. The BJP manifesto had promised to increase the Startup Fund to Rs 20,000 crore. Will Finance Minister Nirmala Sitharaman follow through and increase the Funds size in the Union Budget 2019?
Bengaluru-based healthtech startup mfine raised Rs 31 crore as venture debt from Alteria Capital. The capital is expected to be leveraged for growth as the startup aims to expand its hospital network to Delhi-NCR, Kolkata, Mumbai, and Chennai in the next six months. In addition, mfine is also looking to onboard over 2,500 doctors from 250 hospitals and reach an average of 150,000 consultations per month, in the next one year.
Our techie for today, Shantanu Bhattacharyya, went from majoring in biology at school to finding his calling as a data scientist at an AI logistics startup. Read his unlikely journey to heading an ambitious geocoding project at Locus.sh.
Delhi-based startup Nanoclean launched in the market with ‘Nasofilter’, a kind of nasal filter that costs only Rs 10. Now, it has come up with AC filters that can turn any AC into an air purifier and cost only Rs 399. Next, the Delhi-based startup will embark upon a journey to put India in the elite group of countries mass-producing nanofibres.
Disability can take various forms. The shortcoming might be with regard to hearing, speech, sight, or other physical disability. Each of these comes with its own distinct challenges. Inaccessibility and lack of support make it difficult for the differently-abled to navigate their way through the world on their own. However, technology has played an important role, ushering in more inclusive growth.
Cultiv8 wants to grow an ecosystem that helps early-stage startups flourish. In this video interview with YourStory Business Editor Vishal Krishna, the Coimbatore-based incubator's Kaarthick Balakrishnan and Seshadri Krishnan delve into their latest initiative: a six-month accelerator.
The stories of caregivers of children with special needs exemplify this, showcasing unconditional love, faith, and belief. Every day brings a new challenge, but they see their children beyond their disability – for what they are – their children. And while they devote themselves completely to their children, not much is available for these caregivers in terms of information, research, or support. That’s where Nayi Disha comes in, founded by Prachi Deo in Hyderabad in 2015.