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<ul><li>The round also saw participation from Accolade Holdings and <keyword id="2238518" type="General" weightage="50" keywordseo="letsventure" source="Orion">LetsVenture</keyword>. </li><li>Marquee angel investors including <keyword id="1603758" type="General" weightage="50" keywordseo="prashant-tandon" source="Orion">Prashant Tandon</keyword> (founder, 1Mg ) Pankaj Vermani (founder, Clovia), and PE veteran <keyword id="192356" type="General" weightage="50" keywordseo="vishal-gupta" source="Orion">Vishal Gupta</keyword> (<keyword id="256285" type="General" weightage="50" keywordseo="ta-associates" source="Orion">TA Associates</keyword>) also invested. </li><li>The funds will be used to rapidly scale AUM, improve the existing technology stack as well as to build and expand the team. </li></ul>Fintech startup <keyword id="12679863" type="General" weightage="100" keywordseo="loankuber" source="Orion">LoanKuber</keyword>, a digital mortgage platform for MSMEs, on Thursday said it raised $2 million as part of its ongoing Series A round led by <keyword id="7036829" type="General" weightage="80" keywordseo="inflection-point-ventures" source="Orion">Inflection Point Ventures</keyword>. The round also saw participation from Accolade Holdings, LetsVenture, family offices, and marquee angel investors including Prashant Tandon (founder, 1Mg ) Pankaj Vermani (founder, Clovia), and PE veteran Vishal Gupta (TA Associates). The funds will be used to rapidly scale assets under management (AUM), improve the existing technology stack as well as to build and expand the team. The company aims to build an AUM of ₹200 crore in the next 15 months as part of its expansion plan. “The funds will be used to further fuel our mission of offering innovative and affordable mortgage solutions to micro-SMEs and the next half billion Indians. The current fundraising will help us further invest in the team, technology, and operations to fulfil our mission,” <keyword id="2389017" type="General" weightage="50" keywordseo="saurabh-nagpal" source="Orion">Saurabh Nagpal</keyword>, CEO, LoanKuber said. Nagpal, an alumnus of IIT Delhi, founded LoanKuber in 2017. It provides customised mortgage loans to underserved Micro, Small and Medium Enterprises (MSMEs). The mortgage financing gap for MSMEs in India is estimated to be $300 billion, the company statement said. “Over the last year, LoanKuber has successfully built an extremely capital-efficient and profitable business. We have invested in the company from their Pre Series A stage and continue to back their vision as they grow at a healthy rate and address a huge financing gap which exists today in the Indian MSME sector,” <keyword id="1276077" type="General" weightage="50" keywordseo="mitesh-shah" source="Orion">Mitesh Shah</keyword>, co-founder, Inflection Point Ventures said. Loankuber has built an automated institutional co-lending platform for micro-mortgages allowing for competitive pricing to the end-customer while generating high yields on its own NBFC balance sheet, said the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indigo-stock-slides-4-in-early-trade-after-reports-of-a-large-block-deal/articleshow/97970085.cms">Indigo stock slides 4% in early trade after reports of a large block deal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-surge-after-msci-delays-its-decision-to-may/articleshow/97969092.cms">Adani group stocks surge after MSCI delays its decision to May</a>

Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures

<keyword id="183823" type="General" weightage="50" keywordseo="ambuja-cements-ltd" source="Orion">Ambuja Cements Ltd</keyword>, a part of Adani Cement on Thursday said it has been declared as the 'preferred bidder' for the <keyword id="16547676" type="General" weightage="100" keywordseo="uskalvagu" source="Orion">Uskalvagu</keyword> limestone block in <keyword id="6357961" type="General" weightage="80" keywordseo="odisha" source="Orion">Odisha</keyword>. An e-auction was conducted by the Odisha government for the block, situated in Malkangiri district, <keyword id="105382" type="General" weightage="80" keywordseo="ambuja-cements" source="Orion">Ambuja Cements</keyword> said in regulatory filings. The <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword> firm has not disclosed the bid amount for the block but said it is spread over an area of 547 hectares with an estimated limestone resource of about 141 million tonnes. "The company shall get the statutory licences and permits related to mining operations to be declared a 'successful bidder' and subsequently enter into a 'Mine Development and Production Agreement (MDPA)' with Government of Odisha to commence the mining operation," it said. Preferred bidders are those who are selected by the vendor with the intention to sell the business or award a contract, subject to the completion of terms and conditions. Ambuja Cements with its subsidiary ACC Ltd has a capacity of 67.5 million tonnes with 14 integrated cement manufacturing plants and 16 cement grinding units across the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/loankuber-a-mortgage-platform-raises-2-million-led-by-inflection-point-ventures/articleshow/97972467.cms">Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indigo-stock-slides-4-in-early-trade-after-reports-of-a-large-block-deal/articleshow/97970085.cms">Indigo stock slides 4% in early trade after reports of a large block deal</a>

Ambuja declared as preferred bidder for Uskalvagu limestone block in Odisha

<ul><li>Investments in <keyword id="6362513" type="General" weightage="20" keywordseo="Startups" source="Orion">startups</keyword> slowed down significantly in February 2023 asd compared to a year ago. </li><li>Overall, PE-VC firms invested $596 million in 35 deals in February 2023, down from $3.6 billion across 103 deals in February 2022. </li><li>Fintech and food startups emerged as the PE-VC favourites, accounting for nearly 60% of the investments during the month. </li></ul>Startup funding by private equity and venture capital firms hit an eight-month low of $596 million in February — registering a decline both on a month-on-month and year-on-year basis, says Morgan Stanley. The slowdown in PE-VC funding has been drastic both in terms of the funds raised as well as the number of deals. The amount of funds raised by startups fell over 83% from $3.6 billion in February 2022 to $596 million in February 2023. The total deals also declined from 103 to 35, according to the report. <div type="image" title="PE-VC investments February 2023." msid="98390356" hostid="261" sizebytes="20868" caption="&amp;lt;p&amp;gt;PE-VC investments&amp;lt;/p&amp;gt;"></div> However, the fall in investments by PE-VC firms in startups is not a new trend. Fundraising fell off a cliff in July last year. Between January and June 2022, the total investments by PE-VC firms stood at $17.9 billion. However, between July and December 2022, startups managed to raise only $5.4 billion. <div type="image" title="PE-VC investments Jan 2022 to Feb 2023." msid="98390362" hostid="261" sizebytes="18998" caption="&amp;lt;p&amp;gt;PE-VC investments in startups from January 2022 to February 2023&amp;lt;/p&amp;gt;"></div> On an average, startups managed to raise $3 billion per month in the first six months of 2022, which fell to $900 million per month in the last six months of the year. <cmsannotation type="cmsannotation" annotationid="Fintech and food startups emerge as top PE-VC favourites" comment="subhead" text="Fintech and food startups emerge as top PE-VC favourites">Fintech and food startups emerge as top PE-VC favourites</cmsannotation> Fintech and food startups emerged as the PE-VC favourites, accounting for nearly 60% of the total investments during the month. Six fintech startups, namely <keyword id="7772673" type="General" weightage="80" keywordseo="insurancedekho" source="Orion">Insurancedekho</keyword>, PhonePe, Mintoak, Stable Money, LoanTap and LoanKuber raised a cumulative $280 million in February. According to the report, there has been a shift in investment trends. While 66% of investments in fintechs last year went to lending businesses, 63% of the investments in February 2023 went to fintechs providing payment gateway solutions. <div type="image" title="PE-VC investments category-wise February 2023." msid="98390374" hostid="261" sizebytes="19226" caption="&amp;lt;p&amp;gt;Fintech and food startups are PE-VC favourites&amp;lt;/p&amp;gt;"></div> The restaurant &amp; food category came in second, with $104 million raised by a single startup FreshToHome. Its Series D fundraise was led by Amazon Smbhav Venture Fund and will go towards opening 100 retail stores. The remaining $212 million funds were raised across categories like ecommerce, edtech, enterprise tech, and more. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group stocks rally post GQG deal, marketcap surges by ₹73,000 crore</a> <a href="https://www.businessinsider.in/business/auto/news/tractors-commercial-vehicles-drive-auto-sales-in-february-but-el-nio-threat-looms-large/articleshow/98386451.cms">Tractors &amp; commercial vehicles drive auto sales in February but El Niño threat looms large</a> <a href="https://www.businessinsider.in/india/news/indian-governments-january-capex-jumps-60-yoy-after-a-slump-in-december/articleshow/98365499.cms">Indian government’s January capex jumps 60% YoY after a slump in December</a>

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Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures

Eetika Kapoor

Ambuja declared as preferred bidder for Uskalvagu limestone block in Odisha

PTI

Startup fundraising hits an 8-month low in February, falls over 83% YoY

Rounak Jain

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