Vegrow Secures $46M Funding; India's Space Economy Set to Soar, More

Anita Manwani Leads TiE Silicon Valley's Mission to Empower Indian Startups in the US

TiE Silicon Valley, under Anita Manwani's guidance, is championing Indian startups' US market expansion. Their vision embodies being the hub for global entrepreneurs, especially from India. This initiative involves mentoring Indian startups to establish their presence in the US. Partnering with India's Software Technology Parks, they're fostering a two-way interaction: facilitating US investors to connect with curated Indian startups and vice versa. Anita Manwani lauds India's strides in digitalization, highlighting its impact on everyday life. Expressing optimism for the US to catch up, she emphasizes India's pivotal role in advancing digital connectivity globally. Her pride in India's progress, fueled by its educated, tech-savvy youth and entrepreneurial zeal, underscores her belief in India's ascendancy into the future.

India's Space Economy Set to Soar to $100 Billion by 2040, Fueled by Startup Surge and Investments

Indian space startups have seen a surge in private investments, crossing ₹1,000 crores since April. Minister Jitendra Singh highlighted India's potential to escalate its space economy to $100 billion by 2040 from the current $8 billion. He noted the burgeoning space startup count, soaring from single digits in 2014 to 1,080 presently, emphasizing the industry's growth. Notable investments, like Alphabet's $36 million funding in Pixxel, signify the sector's appeal post-privatization. The Indian Space Policy 2023 fueled private space industry growth, with firms like Skyroot, SatSure, and others thriving. ISRO's Chandrayaan-3 launch, projected $1 trillion global space market by 2040, and space tourism prospects are key drivers, necessitating regulatory clarity and strategic initiatives for sustained growth.

Agilitas Sports, Led by Former Puma Execs, Nets $12M Funding Round from Nexus Venture Partners

Agilitas Sports, founded by former Puma India MD Abhishek Ganguly and colleagues, secured Rs 100 crore (around $12 million) from Nexus Venture Partners, marking its second funding round this year. The Bengaluru-based startup, launched officially in May, initially raised $50 million and was led by Convergent Finance LLP. Specializing in sportswear and athleisure, Agilitas focuses on enhancing India's sports fabric. It's on the verge of an exclusive shoe brand licensing deal for India and recently acquired Mochiko, a sports footwear manufacturer, with a remarkable FY23 revenue of Rs 642 crore. Agilitas intends to invest comprehensively across sports, from manufacturing to retail and technology. Notably, securing consecutive funding pre-product is a rare feat, distinguishing Agilitas in the startup landscape amidst others securing double funding in 2023.

Indian-American Investor Calls for Streamlining Startup Regulations in India

Top Indian-American venture capitalist Venkatesh Shukla urges India to streamline startup regulations, proposing a short-term commission to review and eliminate unnecessary compliance. Shukla stresses the need to empower startups aspiring for the next Google or Facebook by easing regulatory burdens across departments. He recognises India's strides in digital infrastructure and advocates exporting this success while highlighting the compliance challenges hindering startups from setting up global headquarters in India. Emphasizing the government's role in reducing compliance burdens, Shukla trusts India's talent will flourish once regulations become more startup-friendly.

Vegrow Secures $46M Series C Funding Led by GIC for Rapid Agritech Expansion

Agritech startup Vegrow secured $46 million in Series C funding led by GIC, Singapore's sovereign wealth fund. Existing investors like Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed participated. Founded by IIT alumni in 2020, Vegrow's B2B tech platform for fruits connects wholesalers, traders, and farmers. This funding will aid their nationwide expansion and strengthen their global network. The company recorded a fivefold revenue increase and operational profitability. Sudipto Sannigrahi from Matrix Partners India praised Vegrow's growth and their continued support. GIC's investment marks its first in India's agri-tech and B2B sector. Vegrow's rapid ascent in three years, achieving national presence, is highlighted as a remarkable feat in the agritech landscape.