The Week that Was: Indian Startup News Overview (15th Jan -20th Jan)
By Team Startupcity | Friday, 20 January 2023, 17:50 IST
In terms of entrepreneurship and business, India has evolved into one of the top emerging nations in the world. Hundreds of startup ideas nad firms have been founded here in the last years, many of which are enjoying incredible success.This is due to the fact that Indian companies have the potential to become very successful globally and that investors can anticipate seeing a sizable return on their investment.
Even in this difficult secanario of ressesion or lay off, various firms are developing and sustaining their recognition on a global scale for their excellent working business concepts. In terms of new launches and acquisitions, this week was relatively quiet. However we saw an investment firm sponsored a $32 million seed fundraising round to create social platforms for Web3, an App for investing and saving reported new investors and got contribution of $3 million to its seed round of funding.
Here, the top 5 startups this week are listed below...!
A16z, an investment firm, sponsored a $32 million seed fundraising round for Plai Labs, a business that creates social platforms for Web3. The money will be used by Plai Labs, which is run by former executives from the social network Myspace and the gaming studio Jam City, to expand its staff and hire programmers to build decentralised social platforms utilising Web3 and AI technologies.
App for investing and saving Gullak reported that new investors Y Combinator and Rebel Partners contributed $3 million to its seed round of funding. Along with Good Water Capital, the GMO fintech fund, and TRTL Ventures, existing investor Better Capital also invested in the round. Along with other angel investors, the round included investments from the co-founders of Fibe and Cred, Akshay Mehrotra and Ashish Goyal.
A investment round co-led by 3One4 Capital, Accel, and General Catalyst netted healthtech startup Breathe Well-being Rs 50 crore, according to the company's announcement. Supermorpheus and FounderBank Capital also took part in the round. According to a statement from the company, the money will be used to improve the customer experience by bolstering its teaching academy, growing the core team, and scaling up the technology platform.
Amama, an online marketplace for luxury designer jewellery, has received $250,000 in seed funding from She Capital. According to a press release from Amama, the funds will be used to expand its digital footprint and technologically advance its logistics and operations side. Amama Jewellery is a designer and maker of high-end fashion jewellery for ladies that was established in 2018 by Nikita Gupta.
Shark Tank India Season 2 has announced that Primebook, an Android notebook startup, has received funding of Rs 75 lakh. Peeyush Bansal and Aman Gupta, two judges, invested 3% of their stock in the business. The startup presented its product; laptop for students – Primebook 4G on the show. With a current valuation of Rs 25 crore, the company said that it would utilise the raised funds to further strengthen the brand’s tech infrastructure and marketing mechanism to reach its precise audience.
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