Funding News - Startup Times

The Indian government has abolished the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, which was introduced in 2012 to target investments in unlisted companies.

Finance Minister Nirmala Sitharaman announced the abolition of the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, in a move to support India’s startup ecosystem.

Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the removal of the angel tax. The angel tax, introduced in…

Startup Times News Desk July 23, 2024

Global Microsoft Outage Hits Banks, Airlines, and Broadcasters

Funding News

A global Microsoft outage on Friday disrupted services for banks, airlines, and media broadcasters, including major institutions in Australia and New Zealand

Summary A global Microsoft outage on Friday disrupted services for banks, airlines, and media broadcasters, including major institutions in Australia and New Zealand. The outage affected access to Microsoft 365…

Startup Times News Desk July 19, 2024

Funding News

Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024.

Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024. This move follows the recent…

Startup Times News Desk July 18, 2024

Funding News

WazirX Faces Security Breach After Suspicious $230 Million Transfer

Indian cryptocurrency exchange WazirX suffered a security breach on Thursday, resulting in the temporary suspension of all withdrawals. The breach involved the transfer of approximately $230 million from one of…

Startup Times News Desk July 18, 2024

Funding News

AstroTalk Secures ₹78.3 Crore in Series A Extension from Left Lane Capital and Elev8 Capital

Summary: AstroTalk, an online astrology platform, raised ₹78.3 crore in a Series A funding extension from Left Lane Capital and Elev8 Capital. Founded in 2017 by Puneet Gupta and Anmol Jain, AstroTalk…

Startup Times News Desk July 18, 2024

Funding News

Mumbai’s EleFant, a mobile app-driven toy library, secured Rs 6 crore ($750K) in seed funding from Venture Catalysts and Malpani Ventures.

Key Points Seed Funding Success: EleFant, a Mumbai-based mobile app-based toy library, secured Rs 6 crore in seed funding co-led by Venture Catalysts and Malpani Ventures. Founding Vision: Founded in…

Startup Times News Desk July 5, 2024

Funding News News

Ather Energy Secures INR 286 Crore to Power Up Its Electric Future

key points: Funding Secured: Bengaluru-based Ather Energy has secured INR 286 crore (USD 34 million) in funding from its founders and Stride Ventures.Sources of Funds: Founders Tarun Mehta and Swapnil…

Startup Times June 6, 2024

Indian Startup News & Funding Alert Daily updates

Funding News Startup News

Indian Startup News and Funding Alert: Daily Updates

Welcome to our daily coverage of Indian Startup News and Funding Alert, where we bring you the latest updates from the vibrant startup ecosystem in India. We highlight significant funding…

Startup Times News Desk May 26, 2024

Funding News

Indian Startup Weekly Funding News Report

Indian Startup Weekly Funding Report - July 01 - July 6, 2024 DateNameSectorSubsectorBusiness ModelFunding Round SizeFunding Round TypeInvestorsLead Investor1 Jul 2024PurplleEcommerceD2CB2C$120 Mn–ADIAADIA3 Jul 2024MatterCleantechElectric VehicleB2C$25 MnSeries BHelena, Japan Airlines &…

Ankur Srivastava May 26, 2024

ThinKuvate India Fund Launch: Singapore-based angel investment network, ThinKuvate, introduces its first India-focused fund, ThinKuvate India Fund – I, with a corpus of Rs 100 crore. Investment Focus: The fund aims to invest in tech startups across various sectors, providing initial amounts of up to Rs 3 crore per venture. City-wise Rollout: ThinKuvate plans to launch the fund in key cities like Nagpur, Raipur, Bangalore, and Chennai to tap into emerging startup hubs. SEBI Approval: ThinKuvate has obtained SEBI's approval to launch the AIF CAT 1 Fund in India, with an investor base of nearly 200. Leadership and Team: The fund's founding team includes Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena, with Mayank Jain joining as CEO. Investment Criteria: ThinKuvate prefers startups with revenue generation, patented products, and multiple founders to ensure market presence, innovation, and dynamic leadership. Investment Track Record: ThinKuvate Ventures has invested approximately $1.5 million across nine startups in Southeast Asia and India, expanding to $5 million across 22 startups. Future Deployment of Capital: The fund expects to commence deploying capital in the next quarter to support the growth of promising startups.

Funding News

ThinKuvate Launches Rs 100 Crore Maiden India Fund, Aims to Boost Tech Startups

Key Points ThinKuvate India Fund Launch: Singapore-based angel investment network, ThinKuvate, introduces its first India-focused fund, ThinKuvate India Fund – I, with a corpus of Rs 100 crore. Investment Focus:…

Ankur Srivastava May 23, 2024