Welcome back to TechMantras!

Your one-stop guide for information on the Indian startup Ecosystem.

Every week, I consume various articles on the Indian startup ecosystem, and deliver exciting metrics and developments through a quick read.

Headlines of the week!

Indian government to release Rs 500Cr subsidy to Indian EV makers.

Indian VC firm raises $200 Million to invest in 30-35 startups.

1. 🔗 Link: Synthetic Data Platform raises $230K in funding

Bengaluru based AuraML is a synthetic image data platform for robotics and computer vision.

• Launched very recently in January 2023, they have built a proprietary synthetic data engine.

• The startup said it will use the capital to optimise its engine, hire skilled staff for its engineering teams and branch out into American and European Markets.

2. 🔗 Link: Retail Tech startup bags $34Million in Series B round.

• Ace Turtle has also raised $43 million to date, and the new round comes after a gap of 45 months.

• They enable retail brands to sell online, and are the exclusive licensee for global retail brands such as Lee, Wrangler, and Toys R Us for India.

• They claim to have soared their revenue in FY23 and also become EBITDA positive.

3. 🔗 Link: Fintech startup scoops up $3M in funding.

• By dispursing money worth Rs 140 Cr to over 2000 shops and 30 distributors, this fintech startup provides credit financing.

• The startup said they will use the funding to develop new product offerings and reach untapped markets, and amore effective pharma technology supply chain to a larger demographic.

And that’s all for today friends! Thanks for reading, and I would love to hear your thoughts.

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