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<ul><li><keyword id="2739029" type="General" weightage="20" keywordseo="nobroker" source="Orion">NoBroker</keyword> has raised $210 million led by Tiger Global, General Atlantic and Moore Strategic Ventures.</li><li>The latest round of funding will help the eight-year-old company invest more in its home and financial services.</li><li>It claims to have more than 1.6 crore users registered across Bengaluru, Mumbai, Pune, Chennai, Hyderabad and Delhi NCR.</li></ul>Real estate aggregator NoBroker — which allows users to buy, sell and rent out properties — is the latest startup to enter the unicorn club with a valuation of over a billion dollars. Eight-year-old NoBroker has raised $210 million in a Series E round led by Tiger Global, General Atlantic and Moore Strategic Ventures. This is the largest funding round raised by the company. The latest round of funding will help NoBroker further enhance its technology and increase its investments in home services and financial services. “We use machine learning and artificial intelligence to make the entire process hassle-free and transactions economical for the end user,” said Akhil Gupta cofounder and chief technology and product officer at NoBroker. NoBroker has raised $361 million to date from marquee investors like Paytm’s Vijay Shekhar Sharma, serial investor Anand Chandrasekaran, BEE NEXT, Elevation Capital and others. The company was founded by Indian Institute of Technology (IIT) alumni Amit Agarwal, Akhil Gupta and Saurabh Gupta in 2013. It claims to have more than 1.6 crore users registered across Bengaluru, Mumbai, Pune, Chennai, Hyderabad and Delhi NCR. It claims it has more than 75 lakh properties on its platform and 10,000 residential societies. NoBroker is the 38th startup to enter the unicorn club this year. A unicorn, in startup parlance, is a company that is valued over $1 billion. Last week, six-month-old Mensa Brand became India’s<a href="https://www.businessinsider.in/business/startups/news/former-myntra-ceo-started-mensa-brand-in-may-and-its-already-worth-a-billion-dollars-with/articleshow/87735832.cms"> youngest startup to be valued over a billion dollars</a>. The company was founded only six months ago by Myntra’s former chief executive Ananth Narayanan. Besides this, vernacular social media startup ShareChat, credit card payments platform CRED, merchant payments solution BharatPe, healthtech startup Innovaccer, wealth management company Groww and many others have entered the unicorn club. SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/airtel-vs-jio-vs-vodafone-idea-best-prepaid-plans-compared/articleshow/87845143.cms" style="">Airtel's prepaid plans are up to 50% costlier than Jio and nearly 20% costlier than Vodafone Idea</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-has-lost-nearly-a-billion-dollars-every-three-months-this-year/articleshow/87669146.cms" style="">Vodafone Idea has lost nearly a billion dollars every three months this year</a> <a href="https://www.businessinsider.in/business/telecom/news/after-relief-from-indian-government-vodafone-idea-reportedly-turns-to-banks-for-a-loan-recast/articleshow/87618850.cms">After relief from Indian government, Vodafone Idea reportedly turns to banks for a loan recast</a>

NoBroker is the 38th Indian startup to be valued over a billion dollars this year

<ul><li>In April, startups across sectors that are seeing high activity right now during the coronavirus lockdown announced their fundraise. </li><li>From grocery to news aggregation to foodtech saw money flowing in.</li><li>However, the coronavirus pandemic has slowed down the investment flow in India as in the first three months of 2020, VC <keyword id="1391756" type="PERSON" weightage="20" keywordseo="Investments-in-India">investments in India</keyword> dipped to $2.2 billion.</li></ul>The coronavirus pandemic has slowed down investments in India. In the first three months of 2020, VC investments in India dipped to $2.2 billion, according to KPMG, after $6 billion in the last quarter of 2019. Even then, startups from some sectors like edtech, financial tech, foodtech, and more will find their way through the crisis, believe investors. In an earlier interview with Business Insider, Vani Kola, MD of Kalaari Capital, had said that there is no endless funding available right now and what that automatically means is that companies that have solid unit economics and a management team that can inspire confidence, are very agile, have the capacity to work through chaos will be able to get funds. <div type="Article" hostid="261" msid="74839671" title="EXCLUSIVE: Coronavirus crisis will give birth to unimaginable ideas and next-gen leaders, says a top Indian VC Vani Kola" mstype="2" mssubtype="0"></div> And that was proved in the month of April as startups across sectors that are seeing high activity right now announced their fundraise. Here are the top 10 startup funding in April <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Money raised in April </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last known valuation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BigBasket </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$110 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">&gt;$1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DailyHunt </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$59.6 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$625 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MedGenome </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$55 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rebel Foods </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$50 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$700 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$43 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.6 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NoBroker </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$39 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$361 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FarEye </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$25 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JusPay </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$21.6 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedantu </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$20 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$280 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bira91 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$20 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$246 million </td></tr></tbody></table> <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>: With grocery delivery at an all time high during the coronavirus pandemic, BigBasket’s funding news came as no surprise. The startup which turned unicorn in 2019, raised $50 million in debt funding from Alibaba, while also raising $60 million as a bridge round from Alibaba, South Korea’s Mirae Asset and UK-development finance institution CDC Group. The startup also acquired the hyperlocal delivery startup DailyNinja. DailyHunt: The news aggregator app DailyHunt announced a $59.6 million in funding in April. The Series G round was led by the New York-based investment firm Falcon Edge and also saw participation from Advent Capital Management, Chinese tech giant ByteDance and Goldman Sachs. According to reports, the startup has raised another $36 million in early May at a valuation of $625 million. MedGenome: Genetics research company MedGenome raised $55 million. The company offers genomic solutions in immuno-oncology, diabetes, ophthalmology and other rare diseases. Its $55 million funding round was led by Leapfrog investments. MedGenome was founded in 2013 by Sam Santhosh. The startup is headquartered in California, USA and also runs a lab in Bengaluru, India. Rebel Foods: The cloud kitchen startup Rebel Foods which runs brands like Faasos, Behrouz Biryani among others raised $50 million from US hedge fund Coatue Management. According to <a href="https://entrackr.com/2020/04/exclusive-rebel-foods-valuation-jumps-to-700-mn-fresh-50-mn-round/">reports</a>, the funding took the company’s valuation to $700 million, making it the third highest valued foodtech company in India. <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword>: Foodtech unicorn Swiggy announced that it raised an additional $43 million as a part of its ongoing Series I round. The size of the round now stands at $156 million. Along with existing investor Tencent, new investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets participated in this round. NoBroker: NoBroker.com raised $30 million in its ongoing series D round from General Atlantic. This takes the total funds raised in the round to $80 million, after a funding from Tiger Global in late 2019. The real estate platform that helps people find houses had also diversified during the coronavirus lockdown to launch Grocery Store for societies. Through the feature, society residents can just place the order on the NoBrokerHood app and volunteers within the society consolidate the order and ensure a smooth delivery by buying it from bigBasket B2B or ITC. FarEye: Microsoft’s venture fund arm M12 invested in Indian logistics SaaS startup Fareye. The startup raised $25 million in a round that was led by Microsoft with participation from Eight Roads Ventures and Honeywell Ventures. Fareye, founded in 2013, is a predictive logistics platform that enables enterprises to orchestrate, track, and optimize their logistics operations. JusPay: Bengaluru-based payment gateway startup JusPay raised $21.6 million. The round was led by Sweden’s Vostok Emerging Finance (VEF), and also saw participation from Boston-based Wellington Management Company as well as Accel. Vedantu: The online tutoring platform Vedantu raised $20 million in two tranches in April. It bagged $12.5 million from Legend Capital and Omidyar's Ohana Holding, then it went on to raise $6.8 million from South-Korea based KB Global. The funding came in as a part of its Series C1 round. Bira91: The beer startup raised $20 million from Sequoia and Belgium-based investment firm Sofina. The funding is a part of its ongoing series C round. The Ankur Jain-led Bira91 has raised over $130 million in total funding so far. Its last known valuation from 2019 is $246 million. See Also: <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-new-deals-full-list/articleshow/75526386.cms">All the new deals signed by Tech Mahindra in the last three months</a>

From BigBasket to Swiggy to Nobroker⁠— top ten Indian startups that raised money in April amidst the coronavirus crisis

<ul><li>VC investments in India softened in the first quarter of 2023 but expected to pick up in the latter half of 2023 says a KPMG report. </li><li>This quarter, VC investors were inclined to make smaller investments in startups with more reliable valuations. </li><li>In Q1 2023, VC investment in Asia declined significantly, dropping from $25.5 billion in Q4 2022 to just $13.5 billion.</li></ul>VC investment in India has softened in the January-March quarter of 2023 as investors were picky and scrutinized potential deals more intensely, says a Venture Pulse report by KPMG. VC investments went down to $2.1 billion in the quarter, down by 77% as compared to the same quarter last year when VCs poured in $9.1 billion into the market. “Despite the current slowdown in VC funding, macro factors in India remained relatively strong compared to other jurisdictions, which is driving optimism that the country will see a bounce back in VC investment in the later half of 2023,” said the report. The FOMO effect VC investments in Q1 of 2023 hit a 11-quarter low, as VC investments were at $2.1 billion last in the second quarter of 2020 – right when the lockdowns had started. Soon after however came a boom time. KPMG says that Fear of Missing Out or FOMO drove a lot of VC investment in India in 2021 and early 2022. However, without the FOMO effect is now gone and VCs enhanced their focus on startup performance and profitability. “The biggest change in India is that the euphoria for deals has died down. The FOMO has gone. The big ticket deals have also dried up, which has had an outsized impact on our total investment numbers,” says Nitish Poddar, partner and national leader, PE KPMG in India. Fintech was still a major area of investment, with large deals such as PhonePe, NoBroker, KreditBee, and Insurance Dekho. Agtech and gaming also saw increased interest. However, edtech interest declined in Q1 2023 after a period of high enthusiasm. “But despite the visible decline, it’s important to know that a lot is still happening in India. The macros here are still very good. We’re still seeing a lot of funding in pre-series A deals. And we’re still seeing a lot of new micro funds being raised in the country — funds under $100 million with check sizes from $1–5 million,” says Poddar. VC investments in Asia decline, Down rounds go up In Q1 2023, VC investment in Asia declined significantly, dropping from $25.5 billion in Q4 2022 to just $13.5 billion. This was the lowest quarter for VC investment in the region since Q2 2015, with several factors contributing to the decline. In China, a surge in Covid-19 cases impacted VC activity prior to the New Year holidays. Hong Kong was affected by rising interest rates and a slowdown in IPO activity, while India experienced investors becoming more selective with their investments. Japan was the only country in the region to see an increase in investment during Q1 2023, but the total was still far lower than Q1 2022. The data also shows that down rounds (when the pre-money valuation of a fundraising round is lower than the post-money valuation of the round previous) has gone up significantly in 2023 as compared to the last year, the report reveals. In Q1 2023, the global VC investment trend showed a decline in each quarter following its peak of over $200 billion in Q1 2022. By Q1 2023, the total VC investment worldwide had dropped significantly, falling well below $60 billion. The uncertain global market, which is impacted by factors such as rising interest rates, domestic and geopolitical challenges, economic concerns, and the war in Ukraine, meant that no region was immune to the changing market conditions. This resulted in investors becoming increasingly cautious and risk-averse, leading to a reduction in VC investment activity.

FOMO out, scrutiny in: VC investments fall 77% in Q1 2023 says KPMG

Leading venture capital firm <keyword id="10135370" type="General" weightage="80" keywordseo="elevation-capital" source="Orion">Elevation Capital</keyword> on Friday announced its eighth $670 million fund for early-stage startups in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> and to help their founders realise their dreams. Over the past two decades, the company has invested almost $2 billion of capital in over 150 companies across seven funds, with 13 early-stage investments becoming unicorns. These include category leaders such as Acko, FirstCry, Makemytrip, Meesho, NoBroker, Paytm, Sharechat, Spinny, Swiggy, Unacademy, Urban Company, Xpressbees and several others. With the $670 million Fund VIII, the VC said in a statement that it will once again focus on the seed/Series A stage as its core. According to the company, its investment pace has been accelerating and went up by 100 per cent in the past 12 months. The firm has to date invested in over 150 companies across consumer internet, SaaS, fintech, consumer brands, edtech, healthtech and Web3/Crypto, and has offices in Bengaluru, Gurugram and Salt Lake City in the US. "Fund VIII will allow us to demonstrate a greater commitment to exceptional founders with a larger initial investment and continued support to them until much later in their journeys," said the VC. Elevation (earlier SAIF Partners) first started investing in India 20 years ago. India's equity market capitalisation is already the fifth-highest in the world, at $3.2 trillion, and is expected to approach $10 trillion over the next 10 years. "We have just scratched the surface of India's tech potential. The 100 unicorns in India alone have a combined valuation of $240 billion. We believe that this will grow over 10x over the next decade and Indian tech companies will have more than $2 trillion of market cap," said the company. The firm is led by co-managing partners <keyword id="304089" type="General" weightage="80" keywordseo="ravi-adusumalli" source="Orion">Ravi Adusumalli</keyword> and <keyword id="1700264" type="General" weightage="80" keywordseo="mukul-arora" source="Orion">Mukul Arora</keyword>, along with three managing directors <keyword id="10135369" type="General" weightage="80" keywordseo="mridul-arora" source="Orion">Mridul Arora</keyword>, Deepak Gaur and <keyword id="3039894" type="General" weightage="80" keywordseo="mayank-khanduja" source="Orion">Mayank Khanduja</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/defense/news/hal-delivers-the-first-made-in-india-dornier-228-aircraft-to-alliance-air/slidelist/90719494.cms">HAL delivers the first made-in-India Dornier 228 aircraft to Alliance Air</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/abu-dhabis-ihc-to-invest-2-billion-primary-capital-in-three-adani-group-companies/articleshow/90725697.cms">Abu Dhabi's IHC to invest $2 billion primary capital in three Adani Group companies</a>

Elevation Capital announces $670 million fund for early-stage startups

<ul><li>Saksham, the <keyword id="13004400" type="General" weightage="20" keywordseo="Entrepreneurship-Cell-of-IIM-Udaipur" source="Orion">Entrepreneurship Cell of IIM Udaipur</keyword>, is organising its third and largest e-Summit 2022 with the theme “Zilch to Zillion: Celebrating a Decade of Unicorns”.</li><li>The summit will be held on 23rd January 2022 virtually.</li><li>Representatives from top-tier VCs like Accel, Chiratae Ventures, Tanglin Venture Partners and Times Internet will also be joining as speakers and panelists.</li></ul>Saksham, the Entrepreneurship Cell of Indian Institute of Management, Udaipur, is organising its third and largest E-Summit 2022 with the theme ‘Zilch to Zillion: Celebrating a Decade of <keyword id="2023017" type="General" weightage="80" keywordseo="unicorns" source="Orion">Unicorns</keyword>’ on 23rd January 2022 in a virtual format. The aim of the summit is to honour the efforts and celebrate the accomplishments of all rising entrepreneurs. The E-summit will provide a forum to brainstorm and discuss innovation and ingenuity demonstrated by Indian entrepreneurs that have helped India’s unicorns (companies with valuation more than $1B) gain a combined market cap of $240 billion. Even as India is rapidly enhancing its start-up ecosystem, it still needs to climb 67 positions to top the Global Entrepreneurship Index, an indicator of the overall entrepreneurial potential of a nation. Prof. Janat Shah, Director, <keyword id="349500" type="General" weightage="20" keywordseo="IIM-Udaipur" source="Orion">IIM Udaipur</keyword> said, “Management schools in India are emerging as the breeding grounds for start-ups, especially Unicorns, by creating an enabling environment in curricula and bringing together key enablers of the ecosystem.” “Entrepreneurship is one of the core values of IIM Udaipur, and the institute is committed to nurturing future leaders and entrepreneurs who will power their organizations, create innovations in products and services in the emerging economies,” he added. Yashish Dahiya (Co-Founder and CEO, Policy Bazaar) and <keyword id="237838" type="General" weightage="20" keywordseo="arjun-mohan" source="Orion">Arjun Mohan</keyword> (CEO, upGrad) will throw light on how to shape the entrepreneurship landscape and leapfrog to the top league, as the keynote speakers. Other eminent speakers at the E-Summit ’22 are Prashant Pitti (Co-founder, EaseMyTrip), Ishan Bansal (Co-founder, Groww) and <keyword id="3014325" type="General" weightage="20" keywordseo="amit-kumar-agrawal" source="Orion">Amit Kumar Agrawal</keyword> (Founder, NoBroker), who will all be covering their experiences and learnings from building scaled companies in India. Representatives from top-tier venture capital firms like Accel, Chiratae Ventures, Tanglin Venture Partners and Times Internet will also be a part of the summit as speakers and panelists. The event is supported by a network of corporates, incubators, media partners, including Secure Meters, TiE Udaipur and Rajasthan Venture Capital Fund. Top upcoming D2C (direct-to-consumer) startups like Ugaoo, InACan and Bombay Shaving company are also partnering with the E-Summit ’22 as “Gifting Partner”, “Experience Partner” and “Grooming Partner” respectively. In the past decade, India has transformed its start-up ecosystem into becoming the third-largest in the world. In 2021, India added 46 Unicorns, doubling the number to over 90. In 2022, It is estimated that over 50 more unicorns will be added to the Indian start-up ecosystem. Disclaimer: Business Insider India is a media partner to the event.

IIM Udaipur kicks off its third Entrepreneurship Summit, India’s unicorns to be in focus

<ul><li>Investment firm <keyword id="2603376" type="PERSON" weightage="20" keywordseo="Vy-Capital">Vy Capital</keyword> will be buying back the shares from the employees.</li><li>This is <keyword id="8681398" type="UNKNOWN" weightage="20" keywordseo="Urban-Company">Urban Company</keyword>’s third and largest <keyword id="630254" type="PERSON" weightage="20" keywordseo="ESOP-sale">ESOP sale</keyword> plan worth $5 million.</li><li>During this sale, over 180 employees will be eligible to sell their shares. </li></ul>Home services startup Urban Company has announced its third ESOP (Employee Stock Ownership Plan) sale for $5 million, as it's set to raise money from Vy Capital. The investment firm will be buying the stocks as a secondary transaction. Vy Capital has earlier placed bets on Indian <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like Zomato, NoBroker, and has been an investor in Urban Company for over three years now. According to the company’s statement, over 180 employees are eligible to sell their shares. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value for each share </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employees eligible to sell</td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">June 2017 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹24,500 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dec 2018 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹61,864 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aug 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹110,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">180 </td></tr></tbody></table> So far, the company’s stocks have been awarded to 670 employees, including 450 current employees. “Urban Company's ESOP programme has very employee-friendly terms, such as an exercise price of Re. 1, accelerated vesting, a flat 4-year vesting schedule (25% each year), and an infinite hold period to exercise the <keyword id="173739" type="PERSON" weightage="20" keywordseo="Esops">ESOPs</keyword> after the employee leaves the company. Approximately 450 employees or 40% of the company's full-time staff have ESOPs, from customer service representatives to our SVPs.”, said Abhiraj Singh Bhal, Co-founder of Urban Company. Recently, stock-broking firm Zerodha too had announced that from the ESOP pool of ₹200 crore, their employees will be permitted to sell 5-50% of the 33% of the shares the employees hold. About 800 employees were eligible to benefit from the buyback plan. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/india-startup-founders-are-opting-for-money-in-the-bank-instead-of-high-valuations-as-they-look-to-survive-this-pandemic/articleshow/77733965.cms">India's startup founders are opting for money in the bank instead of high valuations as they look to survive this pandemic</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-wants-to-increase-data-prices-to-100-per-gb-sunil-mittal-asks-subscribers-to-prepare-to-pay-a-lot-more/articleshow/77734318.cms">Airtel wants to increase data prices to ₹100 per GB, Sunil Mittal asks subscribers to ‘prepare to pay a lot more’</a>

Urban Company has $5 million ESOPs up for sale as its long time backer Vy Capital is set to buy more stake

Equity benchmark <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> plummeted over 1,500 points in opening trade on Monday dragged by selloff in index-heavyweights HDFC twins, ICICI Bank, TCS and Infosys amid negative cues from global markets. The 30-share index was trading 1,513.68 points or 4.49 per cent lower at 32,203.94, and the NSE Nifty plunged 425.70 points, or 4.32 per cent, to 9,434.20. ICICI Bank was the top laggard in the Sensex pack, sinking over 8 per cent, followed by IndusInd Bank, Tata Steel, Bajaj Finance, Tech Mahindra, HDFC and HDFC Bank. Shares of Reliance Industries fell over 1 per cent after the oil-to-telecom conglomerate on Thursday posted its biggest ever drop in quarterly net profit. Its net profit in January-March slipped 37 per cent to Rs 6,546 crore, the lowest in three years. <div type="Article" hostid="261" msid="75526873" title="Reliance Jio’s valuation jumps more than half a billion dollars in just 12 days, thanks to Silver Lake" mstype="2" mssubtype="0"></div> Meanwhile, earlier in the day, Silver Lake - one of the world's largest tech investors - agreed to invest Rs 5,655.75 crore to buy a 1.15 per cent stake in Jio Platforms. Sun Pharma was the sole gainer in the BSE index. In the previous session, the BSE barometer settled 997.46 points or 3.05 per cent higher at 33,717.62, while the Nifty soared 306.55 points, or 3.21 per cent, to 9,859.90. Market remained closed on Friday for 'Maharashtra Day'. Foreign portfolio investors were net buyers in the capital market on Thursday, as they purchased equity shares worth Rs 1,968.80 crore, according to provisional exchange data. The government on Friday extended the nationwide lockdown till May 17. According to analysts, the market has realised that the cascading effect of the restrictions on the domestic economy and corporate earnings is much more than anticipated. Besides, selloff in other Asian equities too spooked investors, traders said. Bourses in Hong Kong and Seoul were trading significantly lower, while those in Shanghai and Tokyo were closed for a holiday. International oil benchmark Brent crude futures were trading flat at USD 26.41 per barrel. Meanwhile, global tally of coronavirus infections was over 35 lakh, with around 2.47 lakh deaths. The death toll due to COVID-19 in India rose to 1,373 and the number of cases climbed to 42,533 in the country, according to the health ministry. See also: <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-new-deals-full-list/articleshow/75526386.cms">All the new deals signed by Tech Mahindra in the last three months</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-jio-stake-sale-to-silver-lake-boosts-ril-share-valuation/articleshow/75526873.cms">Reliance Jio’s valuation jumps more than half a billion dollars in just 12 days, thanks to Silver Lake</a> <a href="https://www.businessinsider.in/business/startups/news/from-bigbasket-to-swiggy-to-nobroker-top-ten-indian-startups-that-raised-money-in-april-amidst-the-coronavirus-crisis/articleshow/75526547.cms">From BigBasket to Swiggy to Nobroker⁠— top ten Indian startups that raised money in April amidst the coronavirus crisis</a>

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IIM Udaipur kicks off its third Entrepreneurship Summit, India’s unicorns to be in focus

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Urban Company has $5 million ESOPs up for sale as its long time backer Vy Capital is set to buy more stake

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