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<ul><li>Twitter co-founder, <keyword id="194394" type="PERSON" weightage="20" keywordseo="Biz-Stone">Biz Stone</keyword>, announced that they will be investing in a Kerala based startup — <keyword id="6883189" type="UNKNOWN" weightage="20" keywordseo="Sieve">Sieve</keyword>. </li><li>Sieve is a platform for tech freelancers and agencies to provide services over the cloud. </li><li>This is Twitter’s second investment in an Indian tech startup after funding <keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">ShareChat</keyword>, a local language social media app, in August. </li></ul>Twitter co-founder, Biz Stone, just announced that he will be investing in a startup mentored by the Kerala Startup Mission —, Sieve founded by Sanja Nediyara. This will be <keyword id="749437" type="COMPANY" weightage="20" keywordseo="Twitter-India">Twitter India</keyword>’s second investment in an Indian technology start up within a span of two months. In August, Twitter put funding up for ShareChat, an Indian social media app for local languages. "I have used the product of Sieve as a freelancer. As an Angel, I consider the person first, and the product second. I find Sanjay as a dedicated, empathetic and extremely hardworking individual," stated Stone during a video conference at Huddle Kerala 2019. In both instances, Twitter has not disclosed the amount it has invested. What is Sieve? Sieve is a platform for tech freelancers and agencies. It provides services like infrastructure to websites, creating digital signatures or even manages invoices. As of now, Sieve only serves the US market but has plans to expand into Europe. The aim is to allow entrepreneurs to build Internet companies in the cloud. Using Sieve, freelancers from all over the world can form companies, and work from anywhere in the world. Not just Twitter Sieve’s other investor is Friends of Oorjja, an ecosystem to help individuals from the differently-abled community. Nediyara received help from mentors in the banking industry and Otis Elevators. Google also showed an interest in Nediyara’s startup when they invited him to their annual developers conference, Google I/O. See also: <a href="https://www.businessinsider.in/facebook-india-head-explains-3-ways-that-indian-tech-startups-need-to-transform/articleshow/71327000.cms">Facebook India Head explains 3 ways that Indian tech startups need to transform</a>

Twitter invests in its second Indian start up within a span of two months

For startups to grow they must garner funds from investors; and to gather funds, startups need to have a robust product-market fit along with a promising team and a solid business plan with the potential to scale. Then comes the role of angel investors and <keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">Venture Capital</keyword> (VC) <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> that usually surfaces when larger amounts are required to grow a business. 
 Lately, major <keyword id="982553" type="UNKNOWN" weightage="100" keywordseo="Indian-startups">Indian startups</keyword> have seen a tremendous boost from venture capitalists. To start with, we saw how Tiger Global Management, Softbank Corp., Morgan Stanley, Sequoia Capital, Accel Partners, IDG Ventures India and SAIF Partners managed to support promising Indian startups like that of Flipkart, Snapdeal, Ola, Zomato, ShopClues, Urban Ladder and many others. Moreover, it is not only the bigger firms who are eyeing VC funds, relatively younger and smaller firms like OYO Rooms, Swiggy and Grofers have also joined the race. 
 Apart from ruling the e-commerce and fashion industry, <keyword id="153868" type="UNKNOWN" weightage="100" keywordseo="VC-funding">VC funding</keyword> is now gradually moving into other sectors too, such as agriculture, healthcare and education. As per the data from the upcoming Wharton India Economic Forum (WIEF), which is all set to launch the Wharton India Startup Competition (WISC) with over 500 entries, though majority of applicants (around 25%) belong to the e-commerce industry, the healthcare segment is not far away with around 22% applicants. Moreover, most of the participating startups already have pre-seeded and seeded funding arrangements and around 31% of them have listed themselves as social enterprises. 
 
The ecosystem for VC funding for Indian startups would be discussed at length at the Wharton India Economic Forum (WIEF). WIEF is a two-day event starting from January 6, 2017, which will bring together the best entrepreneurs, investors, distinguished Wharton faculty, students and inspirational speakers. Attendees will not only have numerous opportunities for interaction and networking across the board but will also witness in-depth discussions in terms of understanding the evolving business landscape in India and the need for business model innovation from the government, various industry leaders, and distinguished Wharton faculty. 
 
The relevance of this summit doesn’t end there. It is also known for hosting the Wharton India Startup Competition (WISC) which is giving Indian startups the opportunity to present themselves in front of an esteemed panel of judges and also win cash prizes of over $25,000 and unparalleled mentorship of up to 4 months from some of the most renowned names in the industry on strategy and funding. The jury for WISC comprises top-notch personalities with the likes of Bharati Jacob (Co-founder of Seedfund), Nipun Mehra (Investor at Sequoia Capital India), Rehan Yar Khan (Managing Partner of Orios Venture Partners), Tarun Davda (Managing Director of Matrix Partners), Aditya Nair (Investor at Nyca Partners), Ajay Hattangdi (CEO India &amp; Group COO of InnoVen Capital Group), Ankit Shah (Vice President at Unilazer Ventures), Sameer Verma (Director &amp; Junior Partner of Nexus Venture Partners), Saurabh Joshi (Strategy Manager at PayPal) and Shantanu Gangal (Head – Analytics at Fundbox). Also, past finalists of this prestigious event includes names such as Ketto, Haptik, Zoomcar, Zostel, Targeting Mantra, Qlicket, Samaan and Ambitioni. 
 
Needless to say, such competitions and summits go a long way in not only promoting upcoming startups but also in educating the audience and the participants regarding the funding scenario. Not many seem to be aware about the types and rounds of funding, the know-how of VC funding and even the right way to go about securing such funds, hence this is surely going to be one the most-sought after events at the start of the next year. 
 
(Image Credits: Thinkstock) 
 
(About the Author: This article has been authored by Aman Jain, Chairperson WIEF 2017)

How VC Funding Fuels the Indian Startup Ecosystem

<ul><li><keyword id="328347" type="ORGANIZATION" weightage="20" keywordseo="Indian-Angel-Network">Indian Angel Network</keyword> has closed its fundraising for the <keyword id="6129174" type="UNKNOWN" weightage="20" keywordseo="IAN-Fund">IAN Fund</keyword> after raising at ₹375 crore.</li><li>The fund over exceeded its target by ₹25 crore. </li><li>It currently has 34 companies in its portfolio, including the recently turned unicorn startup Druva.</li></ul>Seed and early stage investment platform Indian Angel Network closed its capital raising activity for the IAN Fund as it overshot its target by ₹25 crore. The fund raised ₹375 crore in all. “The fact that we have achieved and exceeded our capital target underlines our impressive growth trajectory and highlights the faith that investors have in our vision. Moving ahead, we aim to scale newer heights and play a bigger role in transforming and nurturing India’s entrepreneurial landscape,” said Padmaja Ruparel, founding Partner of the IAN Fund. Some of the fund’s participants include Institutional investors like SIDBI’s Fund of Funds for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword>, IIFL, Wadhwani Foundation, Yes Bank, Max Group, Gray Matters Capital, and Hyundai. Individual investors like Kris Gopalakrishnan, Sunil Munjal, Rajan Anandan, Kanwal Rekhi too invested in the fund. IAN fund was founded in 2017 and since then it has been an active angel investor. It has 34 companies in its portfolio, including Druva which recently turned a unicorn. The other startups it funded includes the QSR chain Wow Momo, wedding platform WedMeGood. The sector agnostic fund primarily invest in AI and machine learning, augmented and virtual reality, biotech, cleantech, fintech, agritech and healthtech.

Indian Angel Network closes its fund after raising ₹375 crores

<ul><li>The number of startups serving businesses in India have more than tripled between 2014 and 2018.</li><li>However, multinational companies have a two-third stake in the firms that mentor and groom Indian startups.</li><li>Currently, India has over 50 accelerators and incubators, according to a recent study.</li></ul>Indian corporates are interested in the service that startups can provide to improve the big businesses. However, they aren't investing enough in these new-age entrepreneurs. The latest study released by cloud services company NetApp and consulting firm Zinnov shows that the startups engaged with established businesses in India have more than tripled, both in terms of number and investments made into them, since 2014. "Business to business (B2B) tech startups have more than tripled (from 900 to 3200+) since 2014," the report said adding that the investments in these startups have also grown over three-fold to $3.7 billion in 2018. 70% of these tech startups are in the space of enterprise tech, financial technology, and healthcare technology. 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Over 50 accelerators and incubators, firms that mentor, groom, and help startups grow, are operational in the country. However, "global accelerators hold a majority with 66% of the share, 34% of the pie comprises of Indian companies," the report said. Global giants like Cisco, Target, Intel, and Swiss Re are invested more in the grooming Indian entrepreneurs and helping them succeed than their peers in corporate India. "We’ve facilitated numerous go-to-market opportunities, helped startups secure several million dollars in funding and have formed 7 global strategic alliances in the two years of our operation. This shows the credibility that the accelerator programs can add to such startups,” Ajeya Motaganahalli - Senior Director and Leader at an accelerator programme at the California-based NetApp said. The study also underscores the importance of the mentorship. "Our study found that funding chances increase by three times after startups graduate from an incubator/accelerator. An intense growth of accelerators and incubators is the much-needed shot in the arm for Indian startups to spread their wings across the length and breadth of the country, encouraging tier-2 and tier-3 cities to come up,” Pari Natarajan, Co-Founder and CEO of the Bengaluru-based consulting firm Zinnov said. SEE ALSO: <a href="https://www.businessinsider.in/curefit-raises-75-million-from-anand-piramal-accel-partners-and-others/articleshow/69215063.cms" data-type="tilCustomLink" target="_blank">Three-year old Curefit clocks in $100 mn in revenue and over $245 mn in total funding</a> <a href="https://www.businessinsider.in/tech/an-indian-tech-major-is-helping-thai-banks-use-digital-currency-while-the-rbi-hangs-back/articleshow/69211945.cms" data-type="tilCustomLink" target="_blank">An Indian tech major is helping Thai banks use digital currency while the RBI hangs back</a>

Startups are helping big Indian companies-- but get much less in return

<ul><li><keyword id="3851366" type="PERSON" weightage="20" keywordseo="Anthill-Ventures">Anthill Ventures</keyword>, a ‘speed-scaling’ platform, has tied up with Singapore government’s <keyword id="7388424" type="UNKNOWN" weightage="20" keywordseo="enterprise-singapore">Enterprise Singapore</keyword> to give <keyword id="1146406" type="COMPANY" weightage="20" keywordseo="market-access">market access</keyword> to startups from both countries. </li><li>The program will benefit 18 startups every year. </li><li>India has been a rising market for Southeast Asian investors, with many of them setting up shop in the country.</li></ul>Anthill Ventures, an Indian ‘speed-scaling’ platform that funds startups and then helps them scale just got a big thumbs up from the Singapore government. It has partnered with Enterprise Singapore, the government agency responsible for developing enterprises and fostering Singapore’s startup ecosystem. The platform then announced the launch of <keyword id="7421002" type="UNKNOWN" weightage="20" keywordseo="A-scale">A-Scale</keyword>: an Asian market access programme for healthtech, mediatech and urbantech startups based in Singapore. The six-month speed-scaling programme is targeted to benefit 18 startups every year, giving them the required capital as well as access to business scaling use cases. The Asian startup ecosystem has fast evolved to be on that has attracted funds and consumers both. According to a <a href="https://www2.deloitte.com/jp/en/pages/strategy/articles/vs/asian-investment-trends.html">Deloitte</a> report, the number of Asian startups that have raised funds has tripled and the investment amount has gone up five-fold in the last few years. Many <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> are looking at South East Asia as a prime market and vice versa. “Being a startup hub, Singapore was an easy choice to be the gateway to Anthill’s ecosystem. I envision A-Scale as the mothership of all our programs - to bring startups from HealthTech, UrbanTech &amp; MediaTech in, and help then Scale with Speed through market access in Asia,” Prasad Vanga, founder and CEO of Anthill Ventures told Business Insider. But how did a speed scaling platform manage to gain a partnership with the Singaporean government? “In itself, Singapore may not provide the mass market opportunity that India and other Southeast Asian countries are. Anthill is able to provide these startups with market access connections in their target markets to help them scale,” said Vanga. Under the partnership, Anthill has received a grant from Enterprise Singapore, which allows them to fund the necessary events &amp; facilitate the right opportunities for the selected startups in the program. India as a market has also <a href="https://economictimes.indiatimes.com/small-biz/startups/features/for-indian-startups-a-new-surge-of-asian-investors-means-rethinking-everything/articleshow/64991175.cms">attracted investors </a>from South East Asia. While Softbank, Tencent, Temasek and others are the big ones that have entered the Indian market by investing in big startups, many others like Incubate Fund have also built an India office to take on the opportunity that Indian companies present. See Also: <a href="https://www.businessinsider.in/google-will-groom-these-10-indian-startups-that-use-ai-and-machine-learning/articleshow/68384856.cms">Google will groom these 10 Indian startups that use AI and machine learning</a> <a href="https://www.businessinsider.in/large-ticket-deals-drive-rise-in-private-equity-investments-in-india-this-year/articleshow/68296615.cms">Large ticket deals drive rise in private equity investments in India this year</a>

The Singapore government is backing this Indian accelerator that promises to be a gateway for startups in the two countries

<ul><li>The series B round included its existing investors. </li><li>With the latest round <keyword id="3156874" type="PERSON" weightage="20" keywordseo="CollegeDekho">CollegeDekho</keyword> has reportedly raised a total of about $12 million.</li></ul>As college applications season gets underway, Indian ed-tech company CollegeDekho has reportedly raised $8 million in a fresh round of funding. The series B round included its existing investors Man Capital and <keyword id="191830" type="CITY" weightage="20" keywordseo="GirnarSoft">Girnarsoft</keyword> Education Services Pvt. Ltd, which operates.CollegeDekho. The company had raised a series A round of $2 million in 2018. With the latest round CollegeDekho has raised a total of about $12 million thus far, <a href="https://www.vccircle.com/education-portal-collegedekho-raises-more-funding-from-parent-and-man-capital/">VCCircle </a>reported. CollegeDekho connects students with colleges and universities, providing information on colleges, courses, entrance exam details, admission notifications, changes in exam pattern, scholarships and all related topics, according to its website. It has a database of over 36,000 colleges and also offers services like college application assistance and career guidance. The company plans to use the proceeds of the funding to help expand, develop technology further and research and development, according to media <a href="https://yourstory.com/2019/05/startup-funding-edtech-collegedekho-girnarsoft-man-capital">reports.</a> CollegeDekho.com was founded in April 2015 under its parent Girnarsoft Education Services Pvt. Ltd., which also owns <keyword id="1945738" type="PERSON" weightage="20" keywordseo="Cardekho">CarDekho</keyword>.com, Gaadi.com, BikeDekho.com, among others. See more: <a href="https://www.businessinsider.in/ipl-2019-iit-madras-exam-paper-asks-students-what-should-dhoni-do-if-he-wins-the-toss/articleshow/69232738.cms">An IIT Madras exam paper asked students if ‘Dhoni should go for batting or fielding if he wins the toss’</a> <a href="https://www.businessinsider.in/indias-sparc-scheme-to-give-grants-to-students-for-foreign/articleshow/69159777.cms">Indian university students looking to pursue research abroad can now get funding from the government</a> <a href="https://www.businessinsider.in/iit-delhi-campus-placements-exceeded-1000-in-electrical-chemical-civil-mechanical-and-it-engineering/articleshow/68297555.cms">These core subjects are the biggest winners in IIT-Delhi's record campus placement season</a>

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Twitter invests in its second Indian start up within a span of two months

Prabhjote Gill

How VC Funding Fuels the Indian Startup Ecosystem

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Indian Angel Network closes its fund after raising ₹375 crores

Sanchita Dash

Startups are helping big Indian companies-- but get much less in return

Sriram Iyer

The Singapore government is backing this Indian accelerator that promises to be a gateway for startups in the two countries

Sanchita Dash

Indian ed-tech startup CollegeDekho raises $8 million in fresh funding round

BI India Bureau

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