Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li> <keyword id="733500" type="General" weightage="80" keywordseo="accel" source="Orion">Accel</keyword>’s accelerator programme has pivoted to focus on two themes for early stage startups as it believes the opportunities are large in India and outside.</li><li> So far, <keyword id="6355999" type="General" weightage="60" keywordseo="ai" source="Orion">AI</keyword> has been used to analyse and predict consumer behaviour, but <keyword id="733500" type="General" weightage="80" keywordseo="accel" source="Orion">Accel</keyword> expects new startups that will help redefine the entire customer journey using <keyword id="6355999" type="General" weightage="60" keywordseo="ai" source="Orion">AI</keyword>.</li><li>If the economy has to double in the next ten years, then manufacturing will play a big role. </li></ul> As the third largest startup ecosystem in the world, India is home to more than 90,000 startups at the start of 2023. But the one question on top of everyone’s mind is: Where will the next Flipkart or Swiggy come from? With the era of easy money gone, the entire ecosystem – entrepreneurs, angel investors along with venture/private equity funds – are more interested in business models and path to profitability than they were ever before. Accel India, a leading venture capital firm that works with founders from seed to scale stages, has identified two key themes – AI and Industry 5.0 – as their next big bets. Accel should know this because the firm has invested very early on in startups like Flipkart, Swiggy, Freshworks and Zetwerk. The global venture firm is taking a structured approach to pursue opportunities that it believes will be very big in the next seven to ten years. Accel’s accelerator programme, Atoms 3.0, which it launched in 2021 has also pivoted from a horizontal programme to a thematic one. Says Barath Shankar Subramanian, partner at Accel, “Both these are here and now opportunities. Atoms gives us that early window into identifying some of those opportunities that will be relevant 7-10 years down the line because it is an early stage programme.” Accel launched its Atoms 3.0 in 2020 and so far two of its cohorts have raised $160 mn across 24 startups. In its third edition, the programe has been tweaked to focus on AI and Industry 5.0. This has been done after taking feedback from the entire ecosystem such that the programme could meet the needs of founders. Both these themes are here and now opportunities and the Atoms 3.0 gives the venture firm an early window into these opportunities that would become big 7-10 years down the line. Accel is not wrong in its choice of themes as both have immense potential. Since November 2022, generative AI (artificial intelligence) has touched the lives of students, elderly and consumers in many different ways. While students can get answers to their questions late into the night, stock market traders are asking AI powered astrology apps on what the stars foretell. Beyond the fun aspects, AI will transform B2C platforms and their interfaces. So far, AI has been used to analyse and predict consumer behaviour, but Accel expects new startups that will help redefine the entire customer journey using AI. In its blog, Seed to Scale, Accel says that it anticipates the birth of transformative consumer startups redefining how businesses can cater to both consumer needs &amp; desires. Manufacturing – the other theme that Accel is betting on – is already the talk of town. Accel has already made investments in ten companies in the Industry 5.0 space, with Zetwerk and Detect Technologies being its most successful bets. Explains Subramanian, “If the economy has to double in the next ten years, then manufacturing will play a big role. There are a lot of tailwinds to why manufacturing will take off in India. These opportunities will be both brownfield and greenfield. Because of what has happened in India on the digital side over the last ten years, we are seeing that there is a market and the proxy for that is looking at digital transformation spending. The new age greenfield manufacturing facilities that will have to focus on digital from day one. These tailwinds are at play.” The VC firm is certain that manufacturing in India is a long-term trend and both existing manufacturing companies and new age ones will have to digitise their operations. What the Atoms Programme does is to help the new startups attain scale much faster as it has thanks to the learnings they have from the earlier investments. Accel now does not need to reinvent the wheel as its Atoms 3.0 is customised for founders in India. Adds Subramanian, “A lot of thought goes into a new vertical since we are still looking for the next large company coming out of India. The next Flipkart and Swiggy will come from AI or Industry 5.0.” “While many in the industry see Industry 5.0 as the SaaS for manufacturing, Subramanian says that while it may look like that but it is not. The next wave of companies in this space will be more enterprise-led and solutions will be co-created with large companies. Large enterprises in manufacturing spaces outside India have been slower to move as they are dealing with legacy systems. There is an opportunity in India here and now, which can later be taken outside India as well over time”, Subramanian adds. Accel has categorised the opportunity into three baskets – people, processes and machines – and any opportunity that interjects one of these or a combination of these is 5.0 for Accel. One of its portfolio companies is a good example of what startups can do in the space without actually setting up factories. Detect Technologies partners with the companies to reduce safety violations on a consistent basis. In the past, there would be cameras and people would monitor it manually, but this process can be machine-led and companies are willing to pay for it. Going forward, Accel is of the view that real businesses that make money will come from these verticals. Accel has five focused verticals – consumer, B2B, SaaS, fintech and digital health. Largely, everything the VC firm has done fits into these categories. It’s philosophy too has not changed, which is to catch startups young and to stay with them for the next ten years or so. Accel’s past record shows that it has managed to identify the right themes ahead of others. Its Fund II was largely focused on horizontal marketplaces, while Fund III (2012) was about SaaS companies. Its Fund IV took bets on consumer services startups like Swiggy and Urban Company, while Find V was B2B marketplaces. Now Fund VI is doubling down on B2B marketplaces and horizontal SaaS opportunities. “At the simplest level, we work on global themes and then we double down on it if we see India is ahead of that trend,” adds Subramanian.

The next Flipkart or Swiggy will come from AI or Industry 5.0, says Accel’s Barath Subramanian

New Delhi, Homegrown Twitter-like platform <keyword id="3518161" type="PERSON" weightage="20" keywordseo="koo">Koo</keyword> has garnered over 10 lakh new users in just one week, surpassing the 40 lakh-figure in nearly 10 months of its arrival, as Twitter was caught in crosshairs with the Indian government over its direction to remove nearly 1,400 controversial accounts. Koo, a favourite among several Union ministers, including IT Minister Ravi Shankar Prasad who is at the forefront of the government's war with Twitter, has reached 4.2 million users within no time. According to data analytics platform Statista, as of January 2021, the micro-blogging platform Twitter had an audience reach of 69.3 million users in the US. Japan and India were ranked second and third with 50.9 and 17.5 million users, respectively. The fast-growing vernacular platform Koo describes itself as a personal updates and opinion sharing micro-blogging service. The app won the Atmanirbhar App Innovation Challenge held in August last year and Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> encouraged Indians to use the Koo app in his 'Mann Ki Baat' speech too. However, Koo also found itself in the midst of several controversies including a data leak row and Chinese investment. Koo Co-founder and CEO Aprameya Radhakrishna denied that there was any data leak. "Koo is an India registered company with Indian founders. Raised earlier capital 2.5 years ago. Latest funds for Bombinate Technologies is led by a truly Indian investor 3one4 capital. Shunwei (single digit shareholder) which had invested in our Vokal journey will be exiting fully," Radhakrishna said in an earlier investment. Koo has raised $4.1 million as part of its Series A funding. Infosys veteran Mohandas Pai's 3one4 Capital is the latest addition to the investors on board, according to the company, and <keyword id="144381" type="COMPANY" weightage="20" keywordseo="Accel-Partners">Accel Partners</keyword>, <keyword id="1397792" type="COMPANY" weightage="20" keywordseo="Kalaari-Capital">Kalaari Capital</keyword>, <keyword id="592779" type="COMPANY" weightage="20" keywordseo="Blume-Ventures">Blume Ventures</keyword> and Dream Incubator also participated in the round. "We have got more love than we expected. Our systems are facing more load than ever. Thank you for placing your trust in us. Our team is working on overdrive to fix it. We request your patience and support through this time. Let's do this together," Radhakrishna had said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/india-issues-new-guidelines-for-passengers-arriving-from-the-uk-brazil-europe-and-middle-east-countries/articleshow/81083248.cms">India issues new guidelines for passengers arriving from the UK, Brazil, Europe and Middle-East countries</a> <a href="https://www.businessinsider.in/business/startups/news/not-just-a-tiktok-clone-says-chingari-app-founder-with-their-latest-shop-within-videos-feature-which-he-claims-is-the-next-big-thing-in-social-commerce/articleshow/81084432.cms">‘Not just a TikTok clone,’ says Chingari founder with their latest shop within videos feature which he claims is the next big thing in social commerce</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f62-review-the-new-mid-range-killer/articleshow/81084382.cms">Samsung Galaxy F62 review – the new mid-range killer</a> <a href="https://www.businessinsider.in/business/corporates/news/cairn-energy-ceo-meets-indian-finance-secretary-as-shareholders-impatiently-wait-for-action-on-the-1-4-billion-tax-dispute/articleshow/81087952.cms">Cairn Energy CEO meets Indian finance secretary as shareholders impatiently wait for action on the $1.4 billion tax dispute</a>

As Twitter engages in a firefight with the Indian government, homegrown rival Koo crosses 4 million users within 10 months of launch

Homegrown micro-blogging platform <keyword id="3518161" type="PERSON" weightage="20" keywordseo="koo">Koo</keyword> on Wednesday said it has raised $30 million in Series B funding, led by Tiger Global. Koo has garnered nearly 60 lakh downloads in just a year of operations. "We have aggressive plans to grow into one of the world's largest social media platforms in the next few years. Every Indian is cheering for us to get there soon. Tiger Global is the right partner to have on board to realise this dream," said Aprameya Radhakrishna, <keyword id="170488" type="COMPANY" weightage="20" keywordseo="co-founder">Co-Founder</keyword> and CEO of Koo. Koo's existing investors <keyword id="144381" type="COMPANY" weightage="20" keywordseo="Accel-Partners">Accel Partners</keyword>, <keyword id="1397792" type="COMPANY" weightage="20" keywordseo="Kalaari-Capital">Kalaari Capital</keyword>, <keyword id="592779" type="COMPANY" weightage="20" keywordseo="Blume-Ventures">Blume Ventures</keyword> and Dream Incubator also participating in the round. IIFL and Mirae Assets are other new investors who have come on board the cap table with this round, the company informed. Koo last week said it has met the compliance requirements of the new IT (Intermediary Guidelines) Rules 2021 ahead of its May 25 deadline set by the Ministry of Electronics and Information Technology (MeitY). Koo said earlier this month announced to launch a unique feature that will help users speak and type messages without using the keyboard in regional languages, apart from English. Called 'Talk to Type,' the feature will help Koo users speak out their thoughts and the words will show up on the screen at the click of a button. Founded last year, the vernacular micro-blogging platform Koo crossed 60 lakh users within no time and aims to garner 10 crore users by the end of this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-moves-the-delhi-high-court-against-indias-new-it-laws-says-report/articleshow/82965251.cms">WhatsApp moves the Delhi High Court against India’s new IT laws, says report</a> <a href="https://www.businessinsider.in/science/environment/news/cyclone-yaas-will-unleash-its-fury-for-another-12-to-18-hours-after-making-landfall/articleshow/82964922.cms">Cyclone Yaas will unleash its fury for another 12 to 18 hours after making landfall</a>

India's micro-blogging app Koo raises $30 million led by Tiger Global

<ul><li><keyword id="6639102" type="UNKNOWN" weightage="20" keywordseo="Drip-Capital">Drip Capital</keyword>, the Palo Alto and Mumbai-based company, which helps exporters in financing their global trade, has raised $25 million in a series B round. </li><li>The investment was led by Accel with participation from existing investors <keyword id="563136" type="ORGANIZATION" weightage="20" keywordseo="Sequoia-India">Sequoia India</keyword>, Wing VC, and Y Combinator.</li><li>The total funding raised by the startup so far stands at $100 million.</li></ul>Fintech platform Drip Capital which helps SMEs navigate global trade, has raised $25 million in a series B round of funding. The investment was led by Accel with participation from existing investors Sequoia India, Wing VC, and Y Combinator. It also saw new investors GC1 Ventures and institutional investor platform Trusted Insight chip in. Drip Capital, which is based in Palo Alto and Mumbai, helps entrepreneurs and businesses with the working capital necessary to grow their business. It finances small exporters who want to expand to newer markets. “Trade finance is an age-old paper-based industry dominated by banks that primarily focus on large, established corporate customers. Hence, small businesses, despite accounting for 50% of merchandise exports from India, remain largely neglected. Our mission is to level the playing field for these small business exporters, not just in India but across emerging markets around the world.” says Pushkar Mukewar, Co-Founder and Co-CEO, Drip Capital. So far, the startup raised $45 million of equity and $55 million of debt, taking its total funding to $100 million. With this investment, the global trade finance company will also enter Mexico and UAE markets. According to the company, Drip Capital has financed over $500 million worth cross-border trade originating from India. It now aims to cross $1billion by FY 2020, becoming the de-facto trade finance provider for Indian exporters.

Fintech startup Drip Capital raises $25 million from Accel, to enter Mexico and UAE

<ul class="summary-list"><li>Australian tech company <keyword id="9652525" type="UNKNOWN" weightage="60" keywordseo="pyn">Pyn</keyword> announced Monday it has raised $2.2 million in seed funding.</li><li>Pyn wants to improve the work from home experience that employees all over the world are currently grappling with.</li><li>Its software works by making the many programs employees rely on, like Slack, Gmail and Zoom, "talk" to each other, cutting down on unnecessary communication.</li><li>Pyn has strong ties to Atlassian, an Australian software company that made its IPO in 2015 on a $5.6 billion valuation.</li><li><keyword id="733500" type="ORGANIZATION" weightage="60" keywordseo="Accel">Accel</keyword> led Pyn's funding round, joined by Australian investment fund Skip Capital. Accel partner Rich Wong will join the company's board of directors.</li></ul>Atlassian is one of the biggest tech hits to come out of <keyword id="6355478" type="UNKNOWN" weightage="60" keywordseo="australia">Australia</keyword>. In the <a href="https://www.businessinsider.com/atlassian-gets-ipo-share-price-2015-12">five years since the Jira-maker's IPO</a>, the company has become a favorite among software developers and its market cap has swelled more than sevenfold to $45 billion. Now, with the world in lockdown, another Australian startup is betting it has a product that's just right for the moment. And it's got many of the same people from Atlassian involved.<a href="http://pynhq.com/">Pyn</a> was cofounded by Joris Luijke, a former head of HR at Atlassian. With Pyn, Luijke wants to improve the work-from-home experience that people all over the world are suddenly struggling with. As employees at home lean harder on programs like Slack, Zoom and Gmail to get things done, the output of notifications and tasks from each product can stack up into a pile of indistinguishable noise. Pyn's program makes the disparate systems used by the WFH world "talk" to each other, cutting down the amount of notifications received by workers to relevant, personalized messages."We basically scan for information," across the systems workers already have, Luijke, who is Pyn's CEO, told Business Insider."Every time something happens, we can send the right information to the right person at the right time," he says.On Monday, Pyn announced it has raised $2.2 million in seed funding, led by Accel and joined by Skip Capital. Accel partner Rich Wong, who invested in Pyn, was an early investor in Atlassian back in 2010. <a href="https://www.skipcapital.com/">Skip Capital</a> is run by Atlassian co-CEO Scott Farquhar.Wong will join the young company's board of directors, driven by a desire to ride what he believes will be a second wave of work-from-home tech designed to make life easier."The need was always there to be able to work across multiple locations," Wong told Business Insider. "But now because of COVID and shelter-in-place, I think what you're seeing is now there's a second wave of companies. They are the follow-ons to wave one, of Zoom and Slack."<h2>Keeping track of important items in a scattered workplace</h2>Many tech companies have announced long-term or permanent work-from-home policies, including Twitter, Google, Facebook, and Microsoft. That could accelerate interest in products like Pyn, so long as the practice is seen as sustainable. The Wall Street Journal's Chip Cutter <a href="https://www.wsj.com/articles/companies-start-to-think-remote-work-isnt-so-great-after-all-11595603397">reported</a> Friday that Canon, OpenExchange, and other companies have started letting some employees back into the office, as they find that some processes stretch out and become exhausting when done via remote work.Pyn trawls through common workplace programs like Slack, Workday, and Salesforce, looking for important or notable events like job promotions and birthdays."If it's Freddy's birthday and they're sitting right next to you and they've got balloons up and stuff like that, as a manager you're like 'Oh yeah, it's Freddy's birthday,'" Luijke said. "...But it's really hard, if everyone is scattered around the world, to keep track of those things, keep track of the fact that Anna has been in her role for four months and it's probably time to have a career conversation with her."The company is also launching a series of workshops and guides designed to ease onboarding, a difficult thing to do remotely.Luijke, who spent years running HR for Atlassian, Squarespace and other hot <keyword id="6362513" type="UNKNOWN" weightage="60" keywordseo="startups">startups</keyword>, said Pyn for him was the opportunity to scratch a long-running itch."There's two big problems that I found," Luijke said. "People always felt inundated with information and communication … yet at the same time, those same people wanted more clarity, more information, more guidance."

Pyn, an Australian startup with close ties to Atlassian, wants to make working from home less exhausting

<ul><li><keyword id="80487" type="ORGANIZATION" weightage="100" keywordseo="walmart">Walmart</keyword>'s will potentially be bidding to acquire more than 51% stake in <keyword id="6354742" type="PERSON" weightage="20" keywordseo="Flipkart">Flipkart</keyword> by investing up to $8-10 billion. </li><li>Other major investors include <keyword id="163404" type="ORGANIZATION" weightage="20" keywordseo="Softbank">SoftBank</keyword> (23% stake), Tiger Global (20% stake) and <keyword id="6356837" type="ORGANIZATION" weightage="20" keywordseo="naspers">Naspers</keyword> (16.6% stake).</li><li>SoftBank is willing to pump in an additional $3-4 billion, if Flipkart opts to pursue <keyword id="18635" type="LOCATION" weightage="100" keywordseo="Amazon">Amazon</keyword>'s offer instead of Walmart.</li></ul> Despite Amazon’s bid to buy a 60% stake in India’s Flipkart, reports say the deal will go in Walmart’s favour. Talks of Walmart wanting to acquire a massive stake of Flipkart have been on since February. And with that news, a number of companies, including Google and Amazon, seem to want a piece of Flipkart’s pie. The Bentonville-based retail giant, Walmart, has been itching to expand its online presence into the remaining Asian markets. If this deal materialises -- its biggest e-commerce bet anywhere globally -- will also trigger a re-rating of its stock market valuation, which is currently second only to Amazon. A source told <keyword id="6356641" type="ORGANIZATION" weightage="20" keywordseo="Times-of-India">Times of India</keyword> (TOI) that “the shareholding agreement with Walmart is still to be signed. But it is unlikely that Amazon will come in now. Walmart and Flipkart are agreeing on the deal terms, for now.” Sources with knowledge of the proceedings told <a href="https://timesofindia.indiatimes.com/companies/walmart-nears-flipkart-deal-amazon-push-fails/articleshow/64010460.cms?from=mdr" data-type="tilCustomLink">TOI</a> that SoftBank has been favouring the merger with Amazon instead of Walmart. For this, it is also willing to pump in an additional $3-4 billion, in case Flipkart opts to pursue Amazon's offer instead of Walmart. While most other investors are keen on Walmart’s cashout deal, SoftBank, wants to maintain its 20% stake in the combined <keyword id="6412936" type="ORGANIZATION" weightage="20" keywordseo="flipkart-amazon">Flipkart-Amazon</keyword> entity. The additional amount can in-turn be deployed to buy shares from smaller investors. Flipkart has been valued at around $20 billion and its major investors include SoftBank (23% stake), Tiger Global (20% stake), Naspers (16.6% stake) and <keyword id="144381" type="ORGANIZATION" weightage="20" keywordseo="Accel-Partners">Accel Partners</keyword> (one of the early investors in Flipkart that hold less than 10% stake). However, this idea does not fly with the other major investors who believe -- and perhaps rightly so -- that the potential merger with Amazon would not go past the Competition Commission of India (CCI). The CCI, founded in 2003, is a statutory body responsible for enforcing The Competition Act, 2002 which aims at preventing activities that have a significantly adverse effect on competition in India. Plus, the merger with Amazon would potentially irk the different sections of the trading community. However, SoftBank maintains, Flipkart and Amazon combined will only manage a mere 1.5% stake in the broader Indian retailing industry and therefore is unlikely to run into regulatory hurdles. The Japanese company’s founder and chairman Masayoshi Son saw the potential merger between the two e-commerce behemoths as a way to get his company a bigger play in India’s promising e-commerce market. Just last year, it invested an additional $2.5 billion in Flipkart. According to a <a href="https://timesofindia.indiatimes.com/companies/softbank-likely-to-part-sell-flipkart-stake-to-walmart/articleshow/63291759.cms" data-type="tilCustomLink">Times of India article</a> from 14 March, Walmart's potential bid to acquire more than 51% stake by investing up to $8-10 billion in Flipkart may just nudge SoftBank to part-sell its shares. However, Masayoshi Son told TOI a few days ago, “We are involved in discussions with key shareholders and the management. Either way, we are happy. It is nice to have good offers and we are always open to discussing different options and are always flexible for a good return and success of the company.” All this aside, another source said that the Flipkart board already agreed to Walmart’s offer a few days ago, thereby possibly thwarting Amazon’s intention to sweep in and win the game.

Walmart may edge out Amazon in the race to buy holding stake in India’s Flipkart

<keyword id="681957" type="ORGANIZATION" weightage="100" keywordseo="Bigtree-Entertainment">Bigtree Entertainment</keyword>, the parent company of India’s biggest movie and entertainment ticketing portal <keyword id="600792" type="UNKNOWN" weightage="100" keywordseo="BookMyShow">BookMyShow</keyword>, has been valued at more than Rs 3000 crore in the latest funding round. 
 
The company also raised over Rs 550 crore, mostly by US-based growth fund Stripes Group, in what could be called as one of 2016’s largest rounds of funding for an internet company. 
 The round also saw an active participation from all the existing investors of the company, viz. <keyword id="320882" type="COMPANY" weightage="100" keywordseo="Network-18">Network 18</keyword>, <keyword id="144381" type="COMPANY" weightage="100" keywordseo="Accel-Partners">Accel Partners</keyword>, and <keyword id="161314" type="COMPANY" weightage="100" keywordseo="SAIF-Partners">SAIF Partners</keyword>. 
 "We will continue to invest in enhancing user experience through our data analytics engine , and building contextual entertainment content including videos, reviews, discovery," <keyword id="6567822" type="PERSON" weightage="100" keywordseo="Ashish-Hemrajani">Ashish Hemrajani</keyword>, CEO and cofounder of BookMyShow, told <a href="http://economictimes.indiatimes.com/small-biz/money/bookmyshows-parent-company-bigtree-entertainment-raises-over-rs-550-crore/articleshow/53058255.cms">ET</a>. 
 
Hemrajani added that they now have enough capital to invest in strengthening its leadership position for the coming three years. 
 
The funding raised in this round is more than double of the total capital that the company raised over the last six years. 
 
<a href="http://www.dqindia.com/wp-content/uploads/2016/03/bookmyshow.jpg">Image source</a>

Bigtree Entertainment valued at more than Rs 3000 crore in
latest funding round

New Delhi, Jan 23 () Shared mobility platform Bounce on Thursday said it has raised USD 105 million (about Rs 745 crore) led by Accel and B Capital Group.
 The series D round also saw participation from existing investors, Accel Partners India, Chiratae Ventures, Falcon Edge, Maverick Ventures, Omidyar Network India, Qualcomm Ventures and Sequoia Capital India, a statement said.
 Kabir Narang, general partner and co-head of Asia at B Capital Group, will join Bounce board, it added.
 "The fresh funding, which takes the total amount raised to over USD 194 million, will fuel a deeper electric vehicle (EV) integration, platform play and help drive profitability," the statement said.
 Bounce noted that accelerating adoption of EVs will not only help in pushing for sustainable mobility, but will also help the company reduce the cost per km.
 "While Bounce finances all its bikes through debt, there is tremendous investments needed to build the necessary EV tech and enable the EV ecosystem...The funds will also be deployed towards multi-city expansion, enhancing tech infrastructure, talent acquisition etc," it added.
 Bounce currently operates dockless scooters in Bengaluru and Hyderabad with a fleet of 13,000 and 2,000 vehicles, respectively. Its docked scooter rental service is available to commuters in over 35 cities.
 At more than 1.2 lakh rides per day, Bounce has clocked over 16 million rides till date.
 "Our growth to 1.2 lakh rides a day, in a little over a year and largely in one city, underlines that the future belongs to shared mobility. Shared mobility not only reduces the traffic but also frees up parking spaces, which in Indian cities is anywhere between 12-15 per cent of the total usable real estate," Bounce CEO and co-founder Vivekananda HR said.
 The main vision of Bounce is to democratise mobility and make a significant socio-economic impact, he added.
 "This fresh funding will help us towards this vision. It will also enable us to build a mobility platform that will help bringing in different forms of mobility solutions, that are hyper-suited to the needs of cities and towns we plan to expand into, over the next few months," he said. SR RVK

Bounce raises USD 105 mn led by Accel, B Capital

Venture capital giant <keyword id="144381" type="COMPANY" weightage="100" keywordseo="Accel-Partners">Accel Partners</keyword> and <keyword id="3267567" type="UNKNOWN" weightage="100" keywordseo="Infosys-cofounder-Nandan-Nilekani">Infosys cofounder Nandan Nilekani</keyword> has funded the robotics firm <keyword id="3267189" type="UNKNOWN" weightage="100" keywordseo="Systemantics">Systemantics</keyword>, which builds industrial robots for the manufacturing sector. The last time it had received funding was in 2013, when <keyword id="592779" type="ORGANIZATION" weightage="100" keywordseo="Blume-Ventures">Blume Ventures</keyword> had invested in the firm. 
 Systemantics was founded by IIT-Madras alumni <keyword id="3267568" type="UNKNOWN" weightage="100" keywordseo="Jagannath-Raju">Jagannath Raju</keyword> in 1995. 
 
This is the seventh venture that Nilekani has backed. He has earlier invested in early-stage start-ups which he believes to be building highly impactful disruptive ideas. 
 In the past one year, Nilekani has backed Team Indus, Fortigo, Mubble, Juggernaut, Lets-Venture and <keyword id="1501494" type="UNKNOWN" weightage="100" keywordseo="Power2sme">Power2SME</keyword>, while co-investing in a number of these ventures with Accel, including Fortigo and Power2SME. 
 Even though Systemantics likes to keep a low profile, it has quietly worked on custom robotics projects with the Government, as well as with tech giants like <keyword id="6359357" type="COMPANY" weightage="100" keywordseo="Titan">Titan</keyword> and Hindustan Aeronautics (<keyword id="68124" type="COMPANY" weightage="100" keywordseo="HAL">HAL</keyword>). 
 
"Systemantics is Make In India truly at work - with India's cost structure advantages and innovative design efficiency at full strength. This core belief drove our decision to back them. Their seasoned management team's executional ability, coupled with deep-tech IP, could eventually challenge global incumbents," Sanjay Nath, managing partner at Blume Ventures, told ET. 
 
<a href="http://4.bp.blogspot.com/-GqZVMuglEzo/TsuDQiMhpGI/AAAAAAAAAR8/WEFieIp16N8/s1600/Nandan+Nilekani.jpg">Image source</a>

Nandan Nilekani funds robotics firm Systemantics

Bengaluru-based mobile payments startup <keyword id="3259695" type="UNKNOWN" weightage="100" keywordseo="Juspay">Juspay</keyword> has raised Rs 40 crore in series-A round of funding from <keyword id="144381" type="COMPANY" weightage="100" keywordseo="Accel-Partners">Accel Partners</keyword>, the venture capital firm. Not only this, it has also raised capital from Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, the founders of online ticket booking app <keyword id="600792" type="UNKNOWN" weightage="100" keywordseo="BookMyShow">Bookmyshow</keyword> founders. 
 
The company representatives said that the funds will be used to build its product. 
 
In the funding, Juspay, which was founded three years back, was valued at over Rs 200 crore. The company also has India Value Fund partner and former Network18 CEO Haresh Chawla as an angel investor. 
 
The deal has given Accel about 20% stake in the company, one of the persons aware of the matter told ET. 
 
Accel, which typically invests less than Rs 6 crore in very early stage companies, cited the attractiveness of the startup and broader payments space for this huge investment. 
 
Juspay was founded by former Amazon engineer Vimal Kumar and Ramanathan RV in 2012, while Bloomberg executive Sheetal Lalwani joined them in 2014. 
 
Their technology helps companies simplify payments by aggregating different services across net banking, wallets and cards. It also helps merchants in improving success rate of payments on the platforms. 
 
It can boast of India's top ecommerce platforms like Amazon India, Snapdeal, Bookmyshow, Makemytrip, Yatra, Swiggy, Freecharge, Foodpanda and Jabong as its clients. 
 
<a href="http://d152j5tfobgaot.cloudfront.net/wp-content/uploads/2014/11/Vimal-Ram-Juspay-Safe.jpg">Image source</a>

You Searched For "Accel Partners" and got 10 results

The next Flipkart or Swiggy will come from AI or Industry 5.0, says Accel’s Barath Subramanian

Malini Bhupta

As Twitter engages in a firefight with the Indian government, homegrown rival Koo crosses 4 million users within 10 months of launch

IANS

India's micro-blogging app Koo raises $30 million led by Tiger Global

IANS

Fintech startup Drip Capital raises $25 million from Accel, to enter Mexico and UAE

Sanchita Dash

Pyn, an Australian startup with close ties to Atlassian, wants to make working from home less exhausting

Max Jungreis

Walmart may edge out Amazon in the race to buy holding stake in India’s Flipkart

Kavita Majumdar

Bigtree Entertainment valued at more than Rs 3000 crore in latest funding round

BI India Bureau

Bounce raises USD 105 mn led by Accel, B Capital

PTI

Nandan Nilekani funds robotics firm Systemantics

BI India Bureau

JusPay raises Rs 40cr from founders of Accel and Bookmyshow

BI India Bureau

Popular Keywords

Buying Guides