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Financial services company <keyword id="7349800" type="UNKNOWN" weightage="20" keywordseo="bharatpe">BharatPe</keyword> on Monday said it has raised ₹50 crore in debt from <keyword id="6254083" type="UNKNOWN" weightage="20" keywordseo="Northern-Arc-Capital">Northern Arc Capital</keyword>, one of the leading digital debt finance platforms. This is the sixth round of debt financing in 2021, the company said. In January, the company had raised ₹200 crore from three top debt companies in the country -- Alteria Capital, <keyword id="2809652" type="COMPANY" weightage="20" keywordseo="InnoVen-Capital">InnoVen Capital</keyword> and <keyword id="2694863" type="COMPANY" weightage="20" keywordseo="Trifecta-Capital">Trifecta Capital</keyword>, having later raised additional capital from <keyword id="6653" type="COMPANY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> and <keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword>. "We have considerably ramped up our lending business in the last year and have set an ambitious target of facilitating disbursals to the tune of $1 billion to more than 10 lakh merchants by the end of current fiscal (FY22)," said Suhail Sameer, Group President, BharatPe. "We are excited about our latest capital raise from Northern Arc and are confident that, together, we will be able to transform Bharat and serve the needs of the underserved businesses in India," he added. The fintech company has already facilitated disbursals of over ₹1,600 crore to more than 2 lakh merchants since the launch of the lending vertical. "Northern Arc has continually worked towards extending credit to like-minded organisations such as BharatPe that enable financial access to small businesses and merchants across the country," said Bama Balakrishnan, <keyword id="6423421" type="COMPANY" weightage="20" keywordseo="coo">COO</keyword>, Northern Arc. Northern Arc has directly disbursed more than ₹3,500 crore over the last financial year to MSMEs, households, financial institutions and mid-market corporates. SEE ALSO: <a href="https://www.businessinsider.in/business/news/this-ev-startup-mobycy-went-from-solving-last-mile-commute-to-delivery/articleshow/82513392.cms">It took one pivot and five years for this EV startup founder to hit the sweet spot for business in India</a> <a href="https://www.businessinsider.in/tech/apps/news/clubhouse-android-download-release-date-beta-version/articleshow/82515109.cms">Clubhouse for Android finally launched as downloads and hype take a plunge</a> <a href="https://www.businessinsider.in/finance/banks/news/bandhan-bank-share-price-falls-after-reporting-an-80-fall-in-its-net-profit/articleshow/82516642.cms">Bandhan Bank falls 4% after reporting an 80% fall in its net profit – positive market trends help it bounce back into the green</a>

SME lending startup BharatPe raises ₹50 crore in debt from Northern Arc Capital

New Delhi, May 11 () Shiprocket, a tech-enabled logistics aggregator, on Monday said it has raised USD 13 million (about Rs 100 crore) in funding led by Tribe Capital LLC and Innoven Capital. The series C funding round also saw participation from existing investor Bertelsmann India Investments. The latest capital infusion brings Shiprocket's total funding to USD 26 million, a statement said. "The investment will be used to fuel Shiprocket's aggressive product development roadmap which includes hiring top talent across data science and engineering domains. The funds will also be focused on the company's new initiatives including its international expansions," it added. As part of the agreement, Arjun Sethi from Tribe Capital LLC will join Shiprocket's board of directors. "The boom in D2C (Direct to Consumer) brands and social selling across India has been facilitated by companies like ours who are committed to providing advanced technology and fulfillment solutions to online sellers enabling them to compete with larger brands and marketplaces," Shiprocket CEO and co-founder Saahil Goel said. This additional capital will allow the company to accelerate its strategic goals and product development endeavours by hiring top talent in key areas, he added. Launched by Bigfoot Retail Solutions in 2017, Shiprocket turned profitable in 2018-19 with an annualised revenue run rate between USD 25-30 million. Shiprocket said it processes more than 2 million monthly shipments, enabling more than 35,000 sellers to sell directly to their consumers across India. Shiprocket has previously raised USD 13 million in funding from existing investors Bertelsmann India Investments, Nirvana Venture Partners, Beenext and 500 startups who continue to back Shiprocket. The latest round gives nearly 30 times returns in five years for Shiprocket's angel investors who exited in this round, the company said. Early angels in the company include angel investor Jatin Aneja and 5ideas/Superfuel run by Gaurav Kachru and Pearl Uppal. SR DRRDRR

Shiprocket raises USD 13 mn from Tribe Capital, Innoven Capital, Bertelsmann India Investments

Startups are no more interested in wooing investors. They are now applying a new method to get funds. They are borrowing money to meet working capital needs as their eye-popping valuations are finally beginning to taper off. 
 
This is a radical departure from just a few months ago when they collected money by selling stakes to <a href="http://www.businessinsider.in/searchresult.cms?query=venture+capital+">venture capital</a> firms, hedge funds and deep-pocketed businessmen all vying for a piece of India's rapidly growing e-Commerce market. 
 Take an example of <keyword id="6368965" type="UNKNOWN" weightage="80" keywordseo="ZoomCar">Zoomcar</keyword>, a car rental company. It has borrowed Rs 12 crore in two tranches from <keyword id="2809652" type="UNKNOWN" weightage="60" keywordseo="InnoVen-Capital">Innoven Capital</keyword>, a debt venture fund, to meet its working capital needs rather than approaching investors again. It had raised equity capital worth $11 million from <keyword id="122716" type="CITY" weightage="80" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> and a few other investors last year. 
 
Debt venture funds like Innoven raise money from institutional investors and lend to startups. Innoven has loaned money to established enterprises such as <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal">Snapdeal</a>, Myntra, Practo, Freecharge, <a href="http://www.businessinsider.in/searchresult.cms?query=startups+">Yatra.com</a> and Firstcry recently. 
 
Besides Zoomcar, other startups such as mobile wallet MobiKwik, memorabilia e-retailer Collectabillia, edu-tech firm Embibe, transportation venture MoveInSync, food chain Faasos and app maker AppsDaily, among others, have shifted to debt funding since April this year. 
 While entrepreneurs see venture debt as an additional source of capital, the shift points to a growing wariness among investors about startup valuations. Many investors have begun to question the sustainability of the business model of e-Commerce companies, which is centred on the idea of gaining <keyword id="34527" type="UNKNOWN" weightage="60" keywordseo="market-share">market share</keyword> at any cost often with scant regard to the possibility of making real profits. 
 "There's definitely a higher intensity of discussion around valuation these days as the fund-raising environment is showing signs of cooling off," said Vinod Murali, managing director, InnoVen Capital. Startups have taken note. Rahul Khanna, managing director, <keyword id="2694863" type="UNKNOWN" weightage="80" keywordseo="Trifecta-Capital">Trifecta Capital</keyword>, said people are expecting a correction in the valuation of startups and promoters, therefore, want to retain more capital now. "It's like buying insurance; if the next round of funding is delayed, they'll still have enough money to run the company," he said. 
 
Trifecta is the latest venture debt fund to join the likes of Innoven, Intellegrow and Capital Float, among other unorganised NBFCs, which are complementing the shift in strategy of startups. 
 
Trifecta said it has a pipeline of deals with more than 60 companies. Innoven said it has funded more than Rs 760 crore in India through 90 deals across 60 companies. 
 
This new strategy is enticing for startups. A good capital mix gives <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneurs+">entrepreneurs</a> more time to grow the business — and avoid the rat race — while a lower equity dilution allows them to retain control of their companies. 
 
In recent years, startups have raised debt of over Rs 1,500 crore, according to fund managers. There is actually a pent-up demand for debt funding, according to Khanna. 
 
Venture debt funds, which lend money to <a href="http://www.businessinsider.in/searchresult.cms?query=startups+">startups</a> at rates of 15-21% a year, are not strictly debt funds. They are structured in a way to allow the lender a minor equity participation as well. While lending money to startups, most venture debt funds demand an equity kicker, usually 1-2% of the loan. An equity kicker allows the fund to partake future profits, a right that must be exercised either during the life of the fund or the tenure of loan. 
 
(Image: Indiatimes)

Startups, tired of  chasing angel investors, are now simply borrowing money to make ends meet

E-commerce aggregation platform <keyword id="4178573" type="PERSON" weightage="20" keywordseo="ShipRocket">Shiprocket</keyword> on Thursday said it has raised $41.3 million (about Rs 305 crore) in Series D1 funding co-led by <keyword id="11591696" type="UNKNOWN" weightage="20" keywordseo="PayPal-Ventures">PayPal Ventures</keyword>, the corporate VC arm of <keyword id="6357940" type="DEFINITION" weightage="20" keywordseo="paypal">PayPal</keyword>. The latest infusion of capital brings Shiprocket's total funding to $94.3 million. The New Delhi-based company said that it aims to leverage these funds to fuel product development for both existing and new products, to invest in research and development, continue <keyword id="29547" type="PERSON" weightage="20" keywordseo="Market">market</keyword> expansion and accelerate overall growth. Direct-to-consumer (D2C) <keyword id="84" type="ORGANIZATION" weightage="20" keywordseo="Commerce">commerce</keyword> forms roughly 15 per cent of the overall e-commerce market in India and this is projected to grow to 30-35 per cent in the next five years. "Shiprocket is democratizing best-in-class experiences for hundreds of thousands of eCommerce brands that are shipping millions of items per month through our platform today," said <keyword id="1759829" type="PERSON" weightage="20" keywordseo="Saahil-Goel">Saahil Goel</keyword>, CEO, and Co-Founder of Shiprocket. A part of the funds will also be directed towards the platform's new strategic initiatives, including global expansion starting with the Middle East, the company said. Existing investors Bertelsmann India Investments and <keyword id="10449266" type="UNKNOWN" weightage="20" keywordseo="Info-Edge-Ventures">Info Edge Ventures</keyword>, March Capital and <keyword id="9200827" type="UNKNOWN" weightage="20" keywordseo="tribe-capital">Tribe Capital</keyword> also participated in the round. The funding round also saw participation from strategic partners, such as <keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> and Innoven Capital, and entrepreneurs including Cred founder Kunal Shah and Zomato founder Deepinder Goyal. "Shiprocket has excelled by focusing on building products that solve major logistical problems for businesses as they scale, much like PayPal has supported merchants with payments," said Marc Donnadieu, Director, PayPal Ventures. Over 100,000 online sellers in India are using Shiprocket to streamline their post-checkout process, starting from logistics to warehousing to COD management. "The goal is that as Shiprocket expands its capabilities and tools for sellers, anyone with a product to sell should be able to avail of Shiprocket's suite of products and services at one click to get their business off-the-ground with an Amazon-like one-day delivery experience", said Kitty Agarwal, Partner, Info Edge Ventures. Founded in 2017, Shiprocket became profitable in FY18-19 and is on track to close this financial year at $100 million in annual recurring revenue (ARR). Shiprocket currently processes more than 5 million monthly shipments. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-exchanges-can-run-into-trouble-with-investors/articleshow/84205889.cms">Cryptocurrencies aren't all diamonds and roses — lawsuits from people who lost big are piling up with exchanges</a> <a href="https://www.businessinsider.in/business/auto/news/simple-energy-new-electric-scooter-promises-240km-range-on-a-70-minute-charge/articleshow/84164967.cms">This new electric scooter promises 240KM range on a 70-minute charge, could be priced under ₹1,20,000</a>

PayPal pumps in ₹305 crore in Indian logistics platform Shiprocket

New Delhi, <keyword id="2461546" type="DOMAIN" weightage="20" keywordseo="FinTech">FinTech</keyword> services company <keyword id="7349800" type="PERSON" weightage="20" keywordseo="bharatpe">BharatPe</keyword> on Monday announced that it has raised ₹139 crore (nearly $20 million) in debt from <keyword id="4844054" type="COMPANY" weightage="20" keywordseo="Alteria-Capital">Alteria Capital</keyword> and <keyword id="6653" type="DOMAIN" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>. The company raised ₹90 crore in debt from Alteria Capital and ₹49 crore from ICICI Bank. The company has raised a total of ₹199 crore in debt to date. "We have committed ourselves to have $700 miilion of <keyword id="6362287" type="UNKNOWN" weightage="20" keywordseo="loans">loans</keyword> to small merchants and kirana store owners by March 2023 and are hoping to on-board more institutional debt partners in the near future," said Ashneer Grover, <keyword id="170488" type="COMPANY" weightage="20" keywordseo="co-founder">Co-Founder</keyword> and CEO, BharatPe. "We aim to become a digital bank that is the one-stop destination for merchants for all kinds of financial services and this tranche of funds will get things rolling". The company is disbursing loans of ₹200 crore per month to merchant partners currently and has set a target of disbursing ₹1,000 crore of loans in the FY21. "We have already disbursed loans to more to 1 lakh merchants and aim to scale this up by 8-10 times and enable credit for a million (10 lakh) kirana store owners in 2021," said Suhail Sameer, Group President, BharatPe. Last week, BharatPe announced that it has raised ₹60 crores in debt from Innoven Capital, Asia's leading venture debt and specialty lending firm. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a>

BharatPe gets $20 million in debt funding from Alteria Capital and ICICI Bank — aims to raise a total of $700 million in the next two years

<ul><li>Premji Foundation, <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> along with SIDBI have led an investment of ₹960 crore in venture debt fund <keyword id="4844054" type="PERSON" weightage="20" keywordseo="Alteria-Capital">Alteria Capital</keyword>. </li><li>This makes Alteria Capital the largest venture debt fund in India. </li><li>Alteria invested in <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like Dunzo, Vogo, Stanza Living, toppr among others.</li></ul>Former Wipro Chairman <keyword id="6419840" type="UNKNOWN" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>’s Premji Foundation, Flipkart co-founder Binny Bansal along with SIDBI,invested ₹960 crore in the venture debt fund, <a href="https://timesofindia.indiatimes.com/business/india-business/premjis-ngo-bansal-put-rs-960cr-in-venture-debt-co/articleshow/70424468.cms">Alteria Capital</a>. This investment has made Alteria Capital the biggest venture debt fund in the country. According to reports, it is also SIDBI’s single largest investment, as the government nodal agency pumped in as much as ₹160 crore. Alteria Capital was founded by Ajay Hattangdi and Vinod Murali who had earlier led Innoven Capital. The firm has so far invested in hyperlocal delivery startup Dunzo, electric bike startup Vogo, student accommodation startup Stanza Living among others. The firm also placed its bets on cricketer Virat Kohli’s apparel brand Wrogn. Meanwhile, ace entrepreneur and investor Binny Bansal has been on an investment spree. In July, he invested in fashion designer Masaba Gupta’s brand. In June, Bansal sold some of his shares in Flipkart for $76.4 million, according to filings sourced by paper.vc. That leaves him with a residual share of 3.52% in the company he co-founded. He made personal investments too, like in insurtech startup Acko and legal startup Spotdraft amongst others. Interestingly, earlier Bansal for his own fund had raised money from his co-investor in the round for Alteria Capital – Premji Foundation. Bansal formed 021 Capital with his financial adviser Sailesh Tulshan for which he had raised $32 million from Premji Foundation and a few former Flipkart colleagues.

Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

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

Total funding raised by <keyword id="17404081" type="General" weightage="20" keywordseo="mom-and-baby-care-startups" source="Orion">mom and baby care startups</keyword> and companies was $418 million in 2022, a plunge of 80 per cent from $2.1 billion in 2021, a report has shown. <keyword id="17404082" type="General" weightage="20" keywordseo="Mom-Baby-Care-companies" source="Orion">Mom &amp; Baby Care companies</keyword> in the US have raised $5 billion till date, while those in China and India raised $2.8 billion and $1.4 billion, respectively, according to Tracxn, a leading global SaaS-based market intelligence platform. The drop in funding is majorly due to the absence of late-stage investments. Seed-stage funding in Q1 2023 fell 21 per cent as against Q1 2022 but jumped 444 per cent from Q4 2022. Early-stage investments in the first quarter of 2023 rose 158 per cent when compared with Q4 2022, but dropped 64 per cent from Q1 2022, the report noted. The sector attracted investments worth $21 million in Q1 2023, compared with $3.86 million in Q4 2022 and $26.5 million in Q1 2022. "The space is seeing minimal or no activity in terms of unicorns and IPOs. In 2022 and 2023 till date, no new unicorn companies were created in this space," the report mentioned. No IPOs have taken place in 2023 so far, while 2022 witnessed one company and 2021 witnessed two companies going public. In terms of funding, <keyword id="17404084" type="General" weightage="20" keywordseo="Gamified-learning-platforms" source="Orion">Gamified learning platforms</keyword> for Pre-K children is the top-funded business model in the last two years in this space, followed by Online Retailers and Breast Pumps. 500 Global, Techstars and New Enterprise Associates are the most active investors in this space till date. IPV, Angel List and Techstars are the top seed-stage investors and Innoven Capital, Andreessen Horowitz and Sequoia Capital are the top early-stage investors, while Sequoia Capital, General Atlantic and IPGL are the top late-stage investors in the last two years. The pandemic accelerated the growth of the Mom &amp; Baby Care space, giving rise to innovation in this segment. The rise in the working class population with a higher disposable income, is also a supporting factor for growth in this space, said the Tracxn report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-5408-crore-in-q4-beats-estimates/articleshow/100189259.cms">Tata Motors posts net profit of ₹5,408 crore in Q4, beats estimates</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-hindenburg-row-sc-hints-at-granting-sebi-extension-on-probe-report-to-decide-on-may-15/articleshow/100185994.cms">Adani-Hindenburg row: SC hints at granting SEBI extension on probe report, to decide on May 15</a>

You Searched For "InnoVen Capital" and got 8 results

SME lending startup BharatPe raises ₹50 crore in debt from Northern Arc Capital

IANS

Shiprocket raises USD 13 mn from Tribe Capital, Innoven Capital, Bertelsmann India Investments

PTI

Startups, tired of chasing angel investors, are now simply borrowing money to make ends meet

BI India Bureau

PayPal pumps in ₹305 crore in Indian logistics platform Shiprocket

IANS

BharatPe gets $20 million in debt funding from Alteria Capital and ICICI Bank — aims to raise a total of $700 million in the next two years

IANS

Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

Sanchita Dash

How VC Funding Fuels the Indian Startup Ecosystem

Guest Author

Funding into mom & baby care companies plunges 80%, no new unicorns

IANS

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