23 startups garner $80 million in funding at DDay 3 by 9Unicorns and Venture Catalysts

Amid funding uncertainties, 9Unicorns’ DDay helps startups connect with 700+ marquee investors and raise funds.

23 startups garner $80 million in funding at DDay 3 by 9Unicorns and Venture Catalysts

Thursday August 17, 2023,

3 min Read

The third edition of demo day (DDay3) organised by 9Unicorns and Venture Catalysts was a resounding success with all 23 participant startups raising around $80 million.

“Our DDays events are a testament to our commitment to fostering the startup ecosystem. In this edition, 100% of the participating startups have raised funds, setting them on a growth trajectory. Given the market conditions, it is a remarkable feat for us and our portfolio startups,” said Apoorva Ranjan, Co-founder and Managing Director of multi-stage investment firm Venture Catalysts++ that operates 9Unicorns and Venture Catalysts.

Held on April 18, 2023, the third edition was a sequel to two triumphant one-day events where a clutch of startups pitched to global investors, including venture capitalists and family offices. DDay 3 saw the participation of 23 startups across industries and more than 700 investors.

“DDay 3 has been very beneficial for 9Unicorns and Vcats portfolio companies in raising capital in uncertain times like today. Initiatives like DDay are helping us institutionalise portfolio development at scale. Today, DDay has strengthened our ability to raise Series A rounds of $3 to $10 million more efficiently from global investors,” said Soham Avlani, Partner, 9Unicorns.

Global economic instability has led to a funding crunch for Indian startups in the past few quarters. Amid these challenging times, DDay 3 was an excellent opportunity for startups to raise funds, especially for those from Tier II and III cities where funding rounds are few and far apart. Out of the 23 participating startups, 12, accounting for 52%, hailed from Tier II and III cities.

9Unicorns is one of India’s leading accelerator funds and Venture Catalysts is an early-stage investor. In 2021, they launched the first DDay where 28 out of 32 startups raised around $128 million. DDay 2 saw startups lap up investments to the tune of about $200 million.

“More than 60 companies have raised capital since the first DDay and we are committed to supporting more companies in the future editions,” Avlani added.

While startups from 12 industries participated in DDay 3, the top sectors were fintech (5), media and entertainment (4), B2B SaaS (3) and impact and sustainability (3). Six of the startups had at least one woman entrepreneur.

Often touted as the Y-Combinator of India, 9Unicorns had earlier this year done the final closure of its Rs 837 crore maiden fund, exceeding its target of Rs 300 crore. Its portfolio companies include cosmetics brand Renee Cosmetics, SaaS company VideoVerse and electric delivery platform Zypp.