TechMantras #5

Vikram Venkat
March 12, 2023

From fundraising rounds of up to $110 Million, to revenues of Rs2000Cr and the advent of MLOps firms, delve deeper into this week’s issue.

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.

This week’s startup news: Funding and Acquisitions

This week, 14 Indian startups raised funding of about $171.3 million!

While last week may have been the lowest yet this year at only $56 million, the system seems to have bounced back.

The funding will enable it to expand its capital base to $600 million and help consolidate its market leadership.
Parle Agro, TVS motorcycles and Tata Motors are amongst the firms using their platform.

This AI and ML firm employs more than 1000 engineers and domain experts.
And it shows, as employee benefits accounted for a significant share of their revenue.

Aiming to ride the wave of homegrown brands, Bira91’s suave approach to fostering a strategy of Indian-centric branding seems to have worked, along with the drops of ‘limited edition beers’
They have noted an increased demand during the festive seasons, and their recent fundraising is a testament to their efforts.

India has had 0 unicorns in the last 2 quarters of FY23, in comparison to 30 unicorns in the last 2 quarters of FY22

The last time this happened was 2016, 7 years ago.

The startup slowdown may have hit the region slightly as well, but the blossoming startup stories of late provide hope.

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

As always, feel free to reach out to me on LinkedIn, Twitter, and Instagram!

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