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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

<ul><li>Cockroaches are startups that can survive a long period of <keyword id="6412154" type="General" weightage="20" keywordseo="funding-winter" source="Orion">funding winter</keyword>, like the pests that can live through a nuclear war. </li><li>Most startups pass through the cockroach phase at least once, gaining experience and knowledge as well as strategizing their business, say experts. </li><li>For those startups that cannot survive without external funds, the future is bleak leading to mergers, acquisitions and in worse cases even shutdowns, experts say. </li></ul>The Indian startup ecosystem has been maturing but it is also getting the chills with the onset of the funding winter. In these circumstances, venture capitalists (VCs) have turned their focus from the unicorns – companies valued at $1 billion, to cockroaches – companies that can survive the test of times. The name is a reference to the fact that cockroaches are known to survive even a nuclear war. Anirudh A Damani, CEO of Artha Group defines a cockroach as a startup that does not require external support to survive. “It can run forever on the cash it generates from selling its products or services at a profit – something a loss-making startup cannot afford to do since its biggest customer is the venture capital investor,” he says. Struggling for funds is not an unknown challenge for most startups starting from the pre-seed level. However, this time around a long funding winter has set in and is expected to last anywhere between 6-18 months as per many experts. And the funding started drying up six months back – dropping to $2.7 billion in the quarter ending September 2022 from a peak of $15.9 billion in the year-ago quarter, according to a Venture Pulse report. A good startup can persist through these changing dynamics, experts say. “Startups following the cockroach approach persist despite changing market conditions, environments, and investment scenarios. Most of the startups pass through the cockroach phase at least once, gaining experience and knowledge as well as strategizing their business despite changing market conditions,” said Mitesh Shah, partner at Physis Capital. To ensure that a startup turns into a cockroach, businesses will have to make tough changes in their models – founders will need to pivot focus from valuations to cash flows. “Those unicorns sitting on cash always survive but those at the end of their runway struggle. However, the good thing is because of these times, companies have begun to focus on the businesses in terms of unit economics and the path to profitability rather than merely looking at fundraise and vanity valuations,” said Bhaskar Majumdar, managing partner, Unicorn India Ventures. <div type="image" title="bhaskar-Majumdar" msid="95734327" hostid="261"></div> Sustainable unit economics is key For the VC ecosystem, which has seen hits and misses in good measure, the funding winter will be an acid test. “In these winter periods, the businesses solving a fundamental human problem thrive at the expense of the companies that are buying revenues in the guise of deep discounting leading to unsustainable unit economics,” says Damani. For those startups that cannot survive without external funds, the future is bleak leading to mergers, acquisitions and in worse cases even shutdowns. “In the current environment, where the funding parameters have become tougher and valuations are under pressure, startups (their founders and investors) are looking at alternative survival strategies. Some startups which are heavily dependent on funding for survival and growth tend often to do distress sale or shut ship,” said Majumdar. Sectors like edtech, which have raised a lot of funds during the pandemic, are also in trouble because of overestimates of TAM or the total addressable market. Those consumer-facing sectors which show the ‘need’ to spend money to acquire customers also might reduce a startup’s ability to turn into a cockroach. “As their marketing spend is key for customer onboarding and a significant contributor to burn, unless they are able to pivot into models that can sustain existing business operations without discretionary marketing spend, it is highly likely such businesses are in most trouble,” said Ankur Bansal, co-founder and director of BlackSoil. <div type="image" title="ankur-bansal" msid="95734341" hostid="261"></div> Late-stage startups in most trouble Cockroaches who intend to survive will also have to cut down their valuation expectations, experts say. This is especially true with late-stage startups, which will require more funds, and also need to demonstrate a path to generate cash. According to Shah, late-stage startups will face the most amount of trouble obtaining additional investment, as valuations reset and there’s renewed emphasis on profitability. There also needs to be moderation in valuation expectations, in line with the changing market dynamics. “Good companies will definitely get access to capital but they have to be more accepting of the valuation multiples. Some correction in multiples is needed for efficient markets, every once in a while. But yes, many companies have and should be open to strategic outcomes from larger peers or established corporates,” said Apoorva Sharma, partner at Stride Ventures. <div type="image" title="anirudha-Damani" msid="95734360" hostid="261"></div> How to turn into a cockroach? Sharma believes that Indian startup founders will channel their strong survival instincts. “They are pruning costs to ensure they have longer runways. Some companies have actually demonstrated improved unit economics,” she told Business Insider India. As per Shah, many of those who might fail the test are the ones with a Utopian vision of scaling up beyond their capacity. Cockroaches must have sound fundamentals like product demand, a short product development cycle, and controlled capital expenditures. “A key component of a successful cockroach startup is focusing on a specific niche or target market, at least early in its journey. A targeted, long-term business concept and a captive market are necessary for becoming a successful cockroach startup. A value-based proposition is crucial if an organisation wants to reach its target clients. A company needs a distinctive selling proposition in the business to get investors to reach for their pockets,” Shah says. Bansal believes that a strong focus on fundamentals and cash flows is of the essence– cockroaches are those startups that can shy away from the concept of growth at all cost and focus on capital efficiencies. Most VCs also say that it’s the founders who will have to go through the mindset change along with the startup. Majumdar lists the traits of a good cockroach that can thrive when funding is slow –“Survival instinct of the founders, ability to morph the business to a clear profitable path, inherently low key and not in the business of building profile for the sake of it.” SEE ALSO <a href="https://www.businessinsider.in/business/corporates/article/tatas-mega-aviation-merger-is-poised-for-flight-but-the-skies-are-not-clear-yet/articleshow/95526116.cms">Tata's mega aviation merger is poised for flight, but the skies are not clear yet</a> <a href="https://www.businessinsider.in/finance/news/indias-gdp-growth-forecast-continues-to-see-cuts/articleshow/95664894.cms">India's GDP growth forecast continues to see cuts</a>

Unicorns are passé, cockroaches are the new favourites of venture capitalists

BJP has announced new candidates to fight from the constituencies of Liladhar Vaghela, Ramsinh Rathwa and Dilip Patel. These three MPs were elected for the parliament from Patan, Chhota Udepur (ST) and Anand respectively during 2014 Lok Sabha elections. In their places, the party has decided to field different candidates now. Bharatsinh Dabhi, MP elected from Kheralu assembly constituency will be contesting now from Patan. Geeta Rathwa, who was elected as the district panchayat member for the last five terms will now contest from Chhota Udepur (ST). The party has nominated Mitesh Patel, a district-level treasurer to fight from Anand. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Gujarat </td><td style="border-left:solid #000000 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;"> </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;"> </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Constituency </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Polling Date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">BJP Candidate Names </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Kachchh </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Vinod Bhai Chavda </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Banaskantha </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Parbat bhai Patel </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Patan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Bharatsinh Dabhi </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mahesana </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Shardaben Patel </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Sabarkantha </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Dipsinh Radhod </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Gandhinagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Amit Anil chandra Shah </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ahmedabad East </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">H S Patel </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ahmedabad West </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Dr. Kirit Bhai Solanki </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Surendranagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Dr. Mahendra Bhai Munjpara </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Rajkot </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mohan Bhai Kundariya </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Porbandar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ramesh Dhaduk </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Jamnagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mrs. Punamben Madam </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Junagadh </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Rajesh Chudasama </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Amreli </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Naran Bhai Kchhadia </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Bhavnagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Dr. Mrs. Bharati Ben Shiyal </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Anand </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mitesh Patel </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Kheda </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Devusinh Chauhan </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Panchmahal </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ratan Singh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Dahod </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Jashvant Sinh Bhabhor </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Vadodara </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mrs. Ranjan Ben Bhatt </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Chhota Udaipur </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mrs Geetaen Rathva </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Bharuch </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mansukh Bhai Vasava </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Bardoli </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Parbhu Bhai Vasava </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Surat </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Darshana Vikram Jardosh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Navsari </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">C.R. Patil </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Valsad </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Apr-23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Dr. K.C. Patel </td></tr></tbody></table>

Election 2019: Bjp candidate list for Gujarat

<keyword id="6354743" type="LOCATION" weightage="20" keywordseo="Amazon-India">Amazon India</keyword> and Flipkart are studying the Budget proposal on levy of one per cent TDS, and will reach out to the government for clarifications. "We are studying the details, and will reach out to the government for clarifications. We hope the tax regime is simple and uniform so that millions of small and medium businesses can go online, digitise their operations and continue to contribute to growing the economy," an Amazon India spokesperson said in response to an e-mailed query. Flipkart also said it was going through the proposal.
 "We are studying the details, particularly how it impacts the MSMEs and Sellers on our marketplace platform. We will discuss further with our seller partners, and engage with government and other stakeholders in due course," Flipkart said in its response.
 The government on Saturday proposed a new levy of 1 per cent TDS (tax deducted at source) on e-commerce transactions, a move that could increase burden on sellers on such platforms.
 "In order to widen and deepen the tax net by bringing participants of e-commerce (sellers) within tax net, it is proposed to insert a new section 194-O in the Act so as to provide for a new levy of TDS at the rate of one per cent," according to Budget 2020-21 documents.
 The amendments will take effect from April 1, 2020.
 The documents said the e-commerce operator -- an entity owning, operating or managing the digital platform -- will have to deduct 1 per cent TDS on the gross amount of sales or service or both. This provision will not apply in cases where the seller's gross amount of sales during the previous year through e-commerce operator is less than ₹5 lakh and the seller has furnished his PAN or Aadhaar number.
 An industry expert said the move will reduce cash flow for sellers as cash will be stuck with government in refund system. Given that many sellers are micro, small and medium enterprises, it would add pressure on them.
 BookMyShow Head (Finance) Mitesh Shah said compliance on e-commerce has been increased by mandating them to deduct a TDS of 1 per cent on all goods and services sold on e-commerce platforms.
 "This would be in addition to TCS (tax collected at source) under GST (goods and services tax) and this amendment might further increase the cost of compliance for e-commerce companies," he added.
 A senior industry executive, who did not wish to be named, said levying the one per cent TDS on 'sales proceeds net of commission, shipping fees, listing fees etc' would have been more beneficial than the current proposal of the levy being imposed on gross sale. SR MSS
BAL See Also: <a href="https://www.businessinsider.in/personal-finance/news/you-will-now-have-to-pay-14-5-tax-on-dividend-received-on-lic-policy/articleshow/73887794.cms?src=hp_ts">You will now have to pay 14.5% tax on dividend received on LIC policy</a>

Amazon, Flipkart and Bookmyshow need clarity on additional TDS imposed by Budget 2020

<ul><li><keyword id="7036829" type="UNKNOWN" weightage="20" keywordseo="inflection-point-ventures">Inflection Point Ventures</keyword> (IPV) has invested over 20 crores in the last 60 days into eight <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> and its plans are only getting more aggressive. </li><li>In the past few weeks, they have invested in ecommerce startup MilkBasket, mediatech startup Toch, healthtech startup Phable, edtech startup Pedagogy, food and beverage startup Fabbox. </li><li>From 283 investors on their platform in 2018, today they have over 1700 investors who are all CXOs from different companies.</li></ul>Angel <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword> platform Inflection Point Ventures (IPV) has invested over 20 crores in the last 60 days into eight startups and its plans are only getting more aggressive. At a time, when investors are holding on to their money and even the likes of SoftBank are taking a ‘cautious approach’, IPV says it has the ability to invest in one or two startups every week. “While we don’t have targets, we are looking to invest in 40-50 startups this year,” Vinay Bansal, co-founder of IPV told Business Insider. Despite the coronavirus pandemic, they are happy to invest in startups. “We are not moved by greed or fear. In fact, we see this as a great opportunity to invest in startups where we might not have got the opportunity to invest otherwise,” he said. In the past few weeks, they have invested in ecommerce startup MilkBasket, mediatech startup Toch, healthtech startup Phable, edtech startup Pedagogy, food and beverage startup Fabbox. IPV was founded just 18 months ago by Vinay Bansal, Ankur Mittal &amp; Mitesh Shah. From 283 investors on their platform in 2018, today they have over 1700 investors who are all CXOs from different companies. Some of the investors on its platform are Amit Dalmia (Blackstone), Prakash Iyer (Haldiram Group), Dhianu Das (Alfa Ventures), Anirudh Damani (Artha Ventures), Deepak Chandran (Wipro Consumer Care and Lighting), Rahul Bothra (Swiggy ), among others. The minimum ticket size for an angel to start investing has been kept at a low entry point of ₹250,000. “The platform has been designed in a way that we can democratize the way investors can invest in startups,” said Bansal. Due to the large group of investors, they don’t have an investment thesis and are sector agnostic. However, here are the three pillars of evaluation <ul><li>Founding team has to be good - with great expertise, insight as well as execution. </li><li>They must be operating in a business area which is the need of the hour and the business can scale and also where the customer is willing to pay. </li><li>Investors are okay to invest at a fair valuation and stay away from large valuation companies. </li></ul>Every week they look at 25 startup pitches but only a handful make the first cut. “We typically allow only one or two startups to present to a large investor base. The interest from each individual investor is captured and then the investment happens from 40-50 people who all get equity. Then they start coming together every month virtually and help the startup scale,” explained Bansal. See Also: <a href="https://www.businessinsider.in/business/startups/news/india-drops-six-places-in-the-ranking-for-worlds-best-startup-ecosystems/articleshow/76057610.cms">India drops six places in the ranking for world’s best startup ecosystems⁠— power outages and slow internet speeds get some of the blame</a>

This Indian angel investment platform has invested in eight cos in 60 days and plans to fund startups every week

<ul><li>Indian startup Lo! Foods, which is a low carb and keto friendly range of packaged foods brand, is bringing healthy snacking for people. </li><li>These include atta, biscuits, snacks, namkeens and chocolates. </li><li>The startup, which started in 2019 has received $5 lakh funding from top founders and executives of the FMCG and financial investment community. </li><li>The company also announced its partnership with Hyatt Place, Hyderabad.</li></ul>Indian startup Lo! Foods which brings in keto-friendly packed snacks raised $5 lakhs as seed fund. Apart from financers, the startup also attracted top executives of FMCG companies as well as it bets on Indians to buy low-carb snacks. Its angel investors include Anuj Golecha, the co-founder - Venture Catalyst; Raveen Sastry, the co-founder of Myntra, Rashmi Daga, Founder of Freshmenu, Sunil Chhabra, Advisor &amp; Founding Team member, Jumbotail; and Mitesh Shah, the CFO of BookMyShow among others. “Top FMCG and Financial executives coming on board to invest and mentor the company is another strong validation of the prospects we have as an organization. We believe we are now ready to further scale up our operations to the next level,” said Sudarshan Gangrade, the founder of Lo! Foods. The startup producers a range of products includes atta or flour, biscuits, snacks or namkeens and even chocolates which can be eaten by those on a keto diet. Keto diet which involves eating only fats and protein by shunning carbohydrates altogether, has become popular with the increasing number of <keyword id="351691" type="COMPANY" weightage="20" keywordseo="Weight-Watchers">weight watchers</keyword> in India. Desi taste buds The brand created a wide online market on platforms like Freshmenu, Eat Fit along with Amazon, Flipkart and Big Basket. “The Indian taste buds want something desi to munch on, but finding a healthy option is difficult. People do not like to have a granola bar or ragi biscuits with their tea. So, we are to cater to their taste buds with satisfactory and tasty low-carb snacks,” Sudarshan had <a href="https://yourstory.com/smbstory/bengaluru-low-carb-snacks-biscuits-lo-foods-fmcg">told </a>Your Story. The startup also partnered with Hyatt Place in Hyderabad by introducing <keyword id="6877681" type="UNKNOWN" weightage="20" keywordseo="keto-food">keto food</keyword> products on their menu like breads, paranthas, pastas and brownies. “I built my company on products that are very Indian in nature, tasty and healthy. The passion to impact health at scale got me convinced to come up as an advisor,” said PC Musthafa, Founder, ID Foods. See also: <a href="https://www.businessinsider.in/weight-loss-surgeries-grow-100-times-in-last-15-years/articleshow/70780880.cms">Weight loss surgeries grow 100-fold as food-loving Indians take the easy route</a> <a href="https://www.businessinsider.in/humans-have-been-drinking-tiny-plastics-every-day/articleshow/70781384.cms">We are eating, drinking and breathing microplastics — and don’t know how it would affect us</a>

A startup that bets on packaged keto snacks and chocolates raises seed funding

Check out winning candidate list from Gujarat Lok Sabha Election 2019

Gujarat Lok Sabha Election Result 2019: BJP makes a clean sweep of all 26 seats

Lok Sabha Election 2019 Candidate List for Gujarat

India’s number one app-only cab service, Ola, has roped in Infosys veteran Rajiv Bansal as its chief financial officer. 
 
Mitesh Shah, who is currently the CFO at Ola, will now lead strategic finance initiatives. 
 
"Rajiv's understanding and expertise in the finance domain is extremely valuable for us at this juncture of growth," said Bhavish Aggarwal, cofounder and CEO, Ola. 
 
The race between two taxi aggregators, Ola and Uber, is getting interesting and full of sharp turns. 
 The <keyword id="3150948" type="UNKNOWN" weightage="20" keywordseo="valuation-of-Ola">valuation of Ola</keyword>, which is the number one app-only taxi booking company in India, has increased now. After the recent $500 million, or Rs 3,300 crore fundraise, Ola is now a $5 billion firm. 
 
This funding round was important for Ola, whose value was $2.5 billion in April, to overpower Uber. 
 
Ola is penetrating into Indian market like never before and has operations in over 100 cities, getting most of the revenue from 20 cities including Delhi, Mumbai and Bengaluru. 
 
Among others, one of the major investors of Ola was China's biggest taxi aggregator Didi Kuaidi, which is looking to dethrone Uber globally. 
 
"As we pursue our mission to build mobility for a billion people, we are excited about bringing onboard partners who can help us get there faster. We will continue to build for the local market through innovative solution," cofounder and chief executive Bhavish Aggarwal had said. 
 
Meanwhile, Uber, which is world's most valuable startup with an estimated worth of about $50 billion, is closing in the gap and is also said to invest $1 billion in India. 
 
Both, Ola and Uber, have nearly 2,50,000 drivers in India.

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

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Unicorns are passé, cockroaches are the new favourites of venture capitalists

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Amazon, Flipkart and Bookmyshow need clarity on additional TDS imposed by Budget 2020

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This Indian angel investment platform has invested in eight cos in 60 days and plans to fund startups every week

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A startup that bets on packaged keto snacks and chocolates raises seed funding

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Check out winning candidate list from Gujarat Lok Sabha Election 2019

BI India Bureau

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Infosys’ Rajiv Bansal is Ola’s new Chief Financial Officer

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