Published By: Sayan Paul

Spotlight: Startup Buzz This Week (Nov 8)

Check out this week's important updates from the Indian startup ecosystem.

Trump 2.0 - Impact on Indian Startups

India's startup ecosystem relies a lot on foreign investments, especially from the US. And with Donald Trump's victory in the latest US presidential election, experts are sensing a remarkable growth in our startup sector. There may be some further collaborations between the two countries, benefitting manufacturing, industrial technology, and infrastructure among others.

Currently, the executives of Indian startups are watching out for Trump's new policies and how they affect the US market. Everyone is hoping for the US administration to adopt mutually beneficial trade policies with India.

Yali Capital Invests $4 Mn in Chip Design Startup C2i Semiconductors

Deeptech venture fund Yali Capital recently announced an investment of USD 4 million in C2i Semiconductors - which is a stealth-mode fabless chip design company dedicated to analog and mixed-signal designs.

Founded by Ganapathy Subramaniam and Mathew Cyriac, Yali Capital is a venture capital firm with over 25 years of experience in the semiconductor industry. Speaking about their recent investment, Subramaniam shared in an interview, "India has 40 years of high-quality chip design experience, and a good mix of Analog, RF, memory, Digital, and EDA talent. Fabless chip design is a strong focus area for Yali Capital, and we hope to be part of creating this ecosystem of vibrant, globally competitive chip design companies from India.” Lip-Bu Tan, advisor to Yali Capital, said, “We believe C2i Semiconductors has all the needed ingredients to be a globally competitive fabless chip design company. I will be working with Yali Capital closely to create a few strong fabless companies from India."

Paytm's Parent Company Allots 4 Lakh+ Equity Shares Under ESOP Plan

One97 Communications Limited, the parent company of Paytm, has allotted 4,05,190 equity shares to eligible employees under its employee stock ownership plan (ESOP). The company recently mentioned in an exchange filing that its board had passed a resolution to allot these shares of face value INR 1 each to eligible employees upon exercise of vested options under the Employees Stock Option Scheme 2019. With this new allotment, the company's issued and paid-up equity share capital has increased to INR 63,71,37,829 crore from INR 63,67,32,639 crore previously.

(Credit: Stockwits India)

Notably, Paytm's market capitalization currently stands at INR 52,976.16 crore.

Boldfit Raises $13 Mn Funding Led by Bessemer Venture Partners

KL Rahul-backed direct-to-consumer (D2C) fitness brand Boldfit has raised Rs 110 crore in a recent funding round led by venture capital firm Bessemer Venture Partners. With this, the Bengaluru-based company aims to focus on product innovation and scale brand expansion. It's planning to expand its presence to the Middle East and to open offline stores within the next 12 to 18 months.

(Credit: Boldfit)

Pallav Bihani, founder of Boldfit, shared in a statement, "This investment from Bessemer Venture Partners is a powerful endorsement of Boldfit’s vision to lead India’s fitness revolution. With this support, we’re ready to take the next big leap in our journey, delivering world-class products that inspire millions of people to lead healthier, more active lives. Boldfit is committed to setting new benchmarks for quality and innovation in fitness, making it accessible to every fitness enthusiast across the country."

The Hosteller Raises ₹48 Cr Funding for Nationwide Expansion

The Hosteller, a homegrown backpacker hostel brand, has secured a total investment of ₹48 crore in its Series A funding round. It was led by V3 Ventures with ₹32 crores, followed by other investors such as Synergy Capital Partners, Unit e Consulting LLP, Ice VC led by Mrunal Jhaveri, Real Time Angel Fund (Climber Capital), and AL Trust (Thrive Ventures). Also, Harsh Shah from the Naman Group Family Office, Vedang Patel, founder of The Souled Store, and Akash Hiren Zaveri, founder of Plix joined the round.

(Credit: JECRC Incubation Centre)

Pranav Dangi, Founder and CEO of The Hosteller, said, "This strategic investment will further strengthen our mission of delivering standardized offerings pan India enabled by a tech-first approach to the backpacking community."

Wealthtech Platform Nivesh Acquires Wealthzi to Strength Operations

Wealthtech Platform Nivesh has acquired Wealthzi (a digital wealth management platform) for an undisclosed amount to strengthen its operations in the sector.

According to a report by The Economic Times, Nivesh plans to use Wealthzi's registered investment advisory (RIA) license to provide investment advisory services, strengthening its product offerings for affluent and high-net-worth individuals (HNIs). All major employees from Wealthzi will join the Nivesh team.

(Credit: Young Turks)

Notably, Wealthzi is operated by Lime Internet Pvt Ltd and claims to manage assets of high-net-worth individuals (HNIs), ultra HNIs, and family offices worth over INR 500 Cr across mutual funds, gold, and bonds, among others.

India Accelerator Joines Forces with Tokyo-based 01 Booster

India Accelerator is a major startup accelerator, multi-stage venture capital, and co-working space in India. Recently, the company announced a strategic partnership with 01 Booster, which is a premier accelerator, venture capital firm, and venture builder headquartered in Tokyo, Japan.

According to reports, this partnership aims to develop a Japan-India Startup Corridor with the shared vision of empowering startup founders across both nations. And it will focus on various initiatives to support as well as empower startup founders in both nations. Precisely, it will help business executives to tap into new markets and expand their presence.