Indian Startup Funding Sees Minor Decline, Google Invites Indian Startups for Accelerator Programme

Indian Startup Funding Sees Minor Decline, Yet Unicorns Emerge Strong in Q1 2024

During the first quarter of 2024, Indian startups secured $2.3 billion in venture capital funding, marking a slight dip of 3.1% compared to the previous year, as reported by GlobalData. Despite this decrease, the creation of two unicorns—Ola Krutrim and fintech SaaS firm Perfios—highlighted notable successes in the sector. Deal volume also saw a modest 2% decline year-on-year, with 288 deals recorded in Q1. However, there were positive signs of recovery, with funding values showing a month-on-month increase in February and March, according to Aurojyoti Bose, lead analyst at GlobalData. The fluctuating volume trend suggests ongoing shifts in the startup investment landscape, with potential for further growth and innovation.

Google for Startups Accelerator: AI First Invites Indian Startups to Apply for Bespoke Support

Google for Startups Accelerator: AI First is now accepting applications in India for its three-month program aimed at supporting startups leveraging AI in their core operations. This initiative targets startups utilizing AI for various industry challenges, offering bespoke training, mentorship, and equity-free support. The program focuses on startups employing large language models for generative AI solutions, aiming to foster human-centered and responsible AI development. Selected startups will gain access to Google's mentor network, training sessions, and tech stack credits. Eligible startups must be based in India, utilize AI in their product or solution, and preferably be at the Seed to Series A stages. To apply or learn more, visit the website and attend weekly virtual open forums on Fridays from 4-5 PM (IST).

From Waste Management to Clean Energy, Women Entrepreneurs Lead India's Climate Revolution

Women-led startups are driving transformative change in India's climate landscape, addressing environmental challenges with innovation and sustainability. Ventures like TrashCon and Waste Ventures India are revolutionizing waste management, while Greenway Grameen Infra provides clean cooking solutions to rural households. GoNative promotes eco-friendly products, supporting local artisans, and Skymet Weather Services aids farmers with accurate forecasts. Taru Naturals focuses on eco-friendly fashion, while Svadha Energy provides solar solutions to villages. These startups not only combat climate change but also empower communities and promote a greener future for India. Their efforts exemplify innovation and resilience in tackling environmental issues while fostering a culture of eco-consciousness.

Swiggy Gears Up for IPO with $1.25B Plan, Battling Zomato and Zepto in Indian Market

Swiggy, the Indian food delivery powerhouse, is gearing up for its IPO, aiming to raise $1.25 billion after receiving approval from shareholders. The Bengaluru-based startup plans to issue $450 million in new shares and offer $800 million in shares from existing backers. Swiggy, valued at $10.7 billion in 2022, commands 45.8% of India's food delivery market, boasting profitability in its delivery business. Despite competition from Zomato and Zepto, Swiggy's IPO is highly anticipated in the Indian startup ecosystem. Zomato, its main competitor, has seen rapid growth, reaching a market cap of over $20 billion. Zepto, on the other hand, is challenging Swiggy's Instamart in the instant commerce space, emerging as a formidable player in the market.

Baud Resources Unveils Sand-Based Gravity Energy Storage System, Paving the Way for Sustainable Energy Solutions

Baud Resources, an IIT Kanpur-incubated startup, has pioneered a sand-based gravity energy storage system, revolutionizing the energy storage landscape. Unlike traditional methods, this innovative approach doesn't rely on water or hills, making it versatile for various terrains. By utilizing locally available materials like sand and industrial waste, it offers cost-effective, long-duration storage with high efficiency. The upcoming 100 MWh pilot plant promises a levelized cost of storage of approximately INR 2.5/kWh, catering to India's rising demand for renewable energy storage. Baud Resources aims to bridge the energy deficit by 2030, offering scalable solutions for large-scale renewable operators and eyeing expansion into global markets.