Minakshi Sangwan | Page 8

This week [May 4–May 10], the startups on the following list have raised the most money. Here's a brief overview of them:

Between April 2023 and April 2024, startups in the IT services sector observed a consistent rise in employment, going from 20 percent to 23 percent. However, recruiting for startups in the media & entertainment, Internet, and BFSI/Fintech sectors slightly decreased.

The startups listed below have raised the most money this week [April 26–May 3]. Here's a quick synopsis of them:

Incorporated in London in August 2019 by Swastik and Prateek Jain, Winvesta aims to make global banking and investments accessible to every Indian.

Here are the India-focused VCs that announced the closing of their funds.

With support from some of the biggest names in Indian business, including Ratan Tata and Nandan Nilekani, Avanti Finance was founded in 2018 with the goal to provide timely, reasonably priced financial services to the next 100 million underserved or underprivileged households.

Whether it be green hydrogen, EVs, solar energy, batteries, or renewable energy, India is becoming a major market for climate-change projects. Sovereign funds and long-term investors are eager to contribute significant sums to initiatives addressing climate concerns.

The Mumbai-based lending startup provides various loan types, such as personal, business, and medical loans.

This status allows for more efficient export-import processes, quicker cargo release periods, 50% lower bank guarantees than non-AEO firms, and quicker processing of customs, central excise, and service tax cases.

ePayLater is an embedded credit facility that allows retailers and wholesalers a way to access working capital finance at zero cost.

India's financing for environmental technologies increased significantly between 2018 and 2022, from USD 0.23 billion to USD 2.47 billion, according to a Tracxn analysis.

With the aim of focusing on handling payment-related difficulties, Mumbai-based SafexPay was founded in 2017 by Ravi Gupta.

Founded in 2020, the Bengaluru-based startup claims just not to be an insurtech and fintech company; it has grown to become a comprehensive employee benefits partner.

Launched in 2016, the Gurugram-based Affordplan aims to use creative finance solutions to make healthcare affordable for millions of people.

In the past 10 years, co-investments have increased 4-5 times. The VCs and LPs have discovered that they are highly skilled at co-investing and producing returns.

Investment in India is being driven by a confluence of factors, including educated young talent, cheap data availability, digital infrastructure such as the Unified Payment Interface (UPI) and Aadhar-based KYC, and increased financial and digital awareness.

The biggest application of AI nowadays is in customer experience. In the next 5-7 years, every enterprise and every startup will be an AI-native startup.

So far this year, women-led startups have witnessed USD 112 million in funding almost in line with USD 123 million raised in the first two months of 2023.