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OpenAI comes to India, $3.4 Billion raised in March, and cookies with Indian flavours!
Read on to see the emergence of India onto the global AI scene.
Vikram Venkat
April 03, 2023
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.
Indian startups raise $3.4 Bn in March 🇮🇳
The global scene may be experiencing a round of layoffs and crunching financials, but this is a sign of a rebound in our space.
229 deals amounted to $3.4 billion, and the details of 31 startups rounds remain undivulged.
While no unicorn has emerged, this month is the highest in funding since June 2022.
1. 🔗 Link: CashKaro rakes in Rs200Cr in FY22.
The rise of Digital penetration into India’s Belts gave birth to a strong wave of online shopping, and this has in turn seen the emergence of cashback and Coupon platforms.
However, the success of such firms are tied to the spending habits of consumers.
They may be able to grow exponentially due to a unique combination of customer engagement and brand recognition, but their ability to perform is tied to market trends.
They may have doubled their revenue, but have not achieved profitability yet.
CashKaro raised $3.8 Million in their Series A round.
2. 🔗 Link: Snacking platform raises $300K from unicorn startup founders.
KikiBix will use the funds to build a team, and enter more distribution channels.
Founded in 2022, the nutrition snacking startup makes cookies in flavours of: namkeens, baked bhujia, chips, condiments like ketchup and sauces, ready-to-eat breakfast mixes and cereals!
OpenAI comes to India.
OpenAI’s Renowned CEO Sam Altman is scheduled to visit Delhi, marking a significant opportunity for India’s AI community to engage with a company at the forefront.
As India continues to emerge as a key player in the global AI ecosystem, Sam Altman's visit is a testament to the country's growing prominence in this rapidly evolving field
i’m doing a trip in may/june to talk to openai users and developers (and people interested in AI generally). please come hang out and share feature requests and other feedback!
more detail here: or email [email protected]
— Sam Altman (@sama)
8:52 PM • Mar 29, 2023
And that’s all for today friends! Thanks for reading, and I would love to hear your thoughts.
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