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<ul><li>Going hyperlocal, STAGE, a participant in <keyword id="1417364" type="General" weightage="50" keywordseo="shark-tank" source="Orion">Shark Tank</keyword> Season 2, plans to upload OTT content in the top 20 dialects of the country.</li><li>STAGE started with <keyword id="41646" type="General" weightage="80" keywordseo="haryana" source="Orion">Haryana</keyword>vi dialect content in 2019, now has over 225,000 subscribers across Haryana and Rajasthan. </li><li>Urban OTT markets have reached their saturation point with top 6 metros contributing only 10% to <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s OTT universe, Ormax Media reported. </li></ul>Shark Tank Season 2 participants and builders of Indore-based hyperlocal OTT platform STAGE, call themselves ‘cockroach’ founders. Back in 2018, when <a href="https://www.thehindubusinessline.com/info-tech/social-media/data-of-up-to-87-mn-users-harvested-facebook/article23442333.ece">87 million</a> Facebook profiles were harvested for data without consent by a British consulting firm Cambridge Analytica, <keyword id="1464818" type="General" weightage="50" keywordseo="vinay-singhal" source="Orion">Vinay Singhal</keyword>, <keyword id="2921541" type="General" weightage="50" keywordseo="parveen-singhal" source="Orion">Parveen Singhal</keyword> and <keyword id="3503521" type="General" weightage="50" keywordseo="shashank-vaishnav" source="Orion">Shashank Vaishnav</keyword> lost their ₹300 crore content startup WittyFeed overnight, losing millions of followers, traffic and money. The startups offered content across entertainment, tech, politics, health and more. “Most of our traffic was dependent on Facebook with a majority chunk coming from the USA, approximately 60 million users from there. In November 2018, Mark Zuckerberg got stuck in legal battles due to Cambridge Analytica and we got blocked. STAGE is our comeback,” said Shashank Vaishnav, co-founder and CTO of STAGE, told Business Insider India. Beyond languages to dialects Fast forward to 2019, STAGE shifted focus from out-of-India subscribers to Bharat. The startup claims to provide, quite literally, a ‘stage’ to local artists across India. Going beyond the regional language based OTTs that are already gaining attention, this startup claims to provide content across different dialects across Rajasthan and Haryana. “In India, there are about 50 OTT platforms uploading regional based content. Dialects don’t have their own scripts, cinema or literature as opposed to language. Haryana has 11 different dialects, Bhojpuri alone spoken by 100 million people. STAGE aims to give a platform to local artists from these spaces,” said <keyword id="16058" type="General" weightage="80" keywordseo="singhal" source="Orion">Singhal</keyword>. Regional OTTs like Koode in Malayalam, City Short TV in Gujarati, aha in Telugu, hoichoi of Bengali and Planet Marathi are some of the regional streaming services that are popular with users within and outside India. Video viewership in India is dominated by the regional language user base. Consumers today spend about 50-60 percent of the average time on Hindi videos, followed closely by 35-43% on regional content videos with only 5-7% on English, states a <a href="https://ficci.in/events/23490/ISP/The%20Digital%20First%20journey_Web.pdf">FICCI-KPMG</a> ‘The Digital First Journey’ report. After independence, India preached the idea of one nation, one language. Languages that had their own script and culture survived while dialects, which are spoken in conversations, began getting lost, Singhal said. “Hindi grew rapidly and thus dialects began to shrink. In 1900, India had about 19,500 different spoken dialects and languages. As of today, only 700 of these remain,” he added. STAGE currently has over 5,000 artists, uploading content in dialects of Mewari, Harauti, Sikhawati, Bangaru to name a few. It’s valued at ₹290 crore, having raised ₹40 crore in Series A funding led by <a href="https://www.businessinsider.in/business/startups/news/shark-tank-s2-participant-stage-raises-40-crore-in-a-series-a-round/articleshow/96704515.cms">Blume Ventures</a>. The rise of Aam Aadmi’s viewership India’s diversity in terms of viewership is evident in the fact that there are over <a href="https://www.statista.com/statistics/1177588/india-number-of-satellite-tv-channels/#:~:text=As%20of%20June%202022%2C%20892,Organisation%2C%20commonly%20known%20as%20ISRO.">892</a> TV channels in India across music, movies, general entertainment, news, sports and more – and each of these divided into languages and a few local channels too survive till date. India OTTs in spite of their growth are unable to cater to the diversified needs, and at the same time younger audience beyond metros are seeking new-age entertainment provided by the streaming services. “Urban OTT markets have reached their saturation point and content is bound to go hyperlocal. The top 6 metros contribute only 10% to India’s OTT universe but 33% to total paid subscriptions in India,” said The Ormax OTT Audience Sizing Report 2022. Indian OTTs have already hit a wall when it comes to acquiring the next set of customers. “A large share of the 20% growth in audience base has come from rural India and small towns. The metro cities have reached saturation levels, with more than 79% OTT penetration. Platforms will have to rely on the smaller markets for the next phase of growth,” said <keyword id="161338" type="General" weightage="50" keywordseo="shailesh-kapoor" source="Orion">Shailesh Kapoor</keyword>, founder and CEO of Ormax Media. This is the sweet spot that STAGE intends to cater to. <div type="image" title="OTT growth in India since 2021" msid="96754688" hostid="261" sizebytes="43766"></div> The rise of Hariwood: Haryana-wood Local voices and their stories in the form of social drama, stand up comedy, documentaries and web series can find seekers easily. And, it’s a growing business. As per <a href="https://ficci.in/events/23490/ISP/The%20Digital%20First%20journey_Web.pdf">FICCI-KPMG</a> report, the demand for original content was estimated to increase from 2,500 hours in 2021 to over 4,000 hours by 2024. Moreover, there is enough and more talent across the grassroots that can be easily channelized onto the OTT platform. “Standup artists from hyperlocal regions take to this craft because their real dream is to become an actor. Since the nascent industry of dialects is not making any movies, they started performing stand up to gain exposure. We have successfully created a local Bollywood in Haryana. They even refer to the industry as ‘Hariwood’. The same situation is in Rajasthan,” said Vinay Singhal. The fact that movies like Kantara in a tribal setting found viewers across India, shows that hyperlocal platforms are capable of telling compelling ‘stories of the soil’. Very literally, there are many dances like the one seen in Kantara and have not been showcased on the right platform as of now. “There are numerous local folk dances that people enjoy locally a lot. For example, in Haryana there is a live theatrical folk dance called Ragni. In Rajasthan, there is Kalbeliya dance, which is also a popular folk music performance widely witnessed in the state. We have started recording these local artists and their folk rituals and performances for STAGE,” said Parveen Singhal, chief content officer at STAGE, told Business Insider India. A cockroach born in the winter In spite of great potential, STAGE like most startups has to face the test of time that’s funding winter. But the startup itself is a survival story, and claims to be a <a href="https://www.businessinsider.in/business/startups/article/unicorns-are-pass-cockroaches-are-the-new-favourites-of-venture-capitalists/articleshow/95734214.cms">cockroach</a> that’s tough enough to survive any adversity. “We are very frugal and our company was born in the winter so we are confident of raising and maintaining capital. But capital infusion will see improvement from April 2023 onwards because there is a lot of dry powder available in the market. Last year, the VCs raised a significant amount of capital to be deployed in startups,” Singhal said. The idea of appearing on Shark Tank India Season 2, with their episode airing on January 4, was initially dismissed by the founders as the previous season of the show only funded early stage startups. STAGE was in the process of raising their Series A funding. But it was a pleasant surprise for the startup to discover that the show now progressed from early stage to late stage funding as well. STAGE was offered ₹1.5 crore for 0.6% equity and ₹1.5 crore debt at 18% interest from Namita Thapar, Aman Gupta and <keyword id="824423" type="General" weightage="50" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword>, judges at Shark Tank India Season 2, which they accepted. “We have already started preparing our website for the kind of traffic that is expected from the reality show, which has led to 3 times growth for companies who featured last season. Even though the judges are known to ask tough questions, they understood our story and it was an emotional moment for us,” said Singhal. STAGE started with Haryanavi content in 2019, now has over 225,000 subscribers across Haryana and Rajasthan. By 2027, they aim to upload content in the top 20 dialects of the country, reaching over 200 million households across India. It also plans to raise its Series B funding later this year. Its existing investors include Better Capital, IPV, TCA, Venture Catalysts and Blume Ventures. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/from-0-to-100-million-in-5-years-thats-how-long-startups-founded-in-2017-took-to-scale-up-says-redseer-report/articleshow/96739954.cms">From 0 to $100 million in 5 years – That’s how long startups founded in 2017 took to scale up, says Redseer report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

A hyperlocal OTT born in funding winter wants to tell stories in Indian dialects

<ul><li><keyword id="15023564" type="General" weightage="100" keywordseo="moneyplanned" source="Orion">MoneyPlanned</keyword> is an Indian personal finance platform that helps clients automate their financial goals. </li><li>The round was led by <keyword id="7036829" type="General" weightage="80" keywordseo="inflection-point-ventures" source="Orion">Inflection Point Ventures</keyword>, with participation from California-based startup accelerator <keyword id="15023565" type="General" weightage="50" keywordseo="expert-dojo" source="Orion">Expert Dojo</keyword>, Joseph R Saviano – partner at Dot Capital, New York, and <keyword id="241332" type="General" weightage="50" keywordseo="sameer-khan" source="Orion">Sameer Khan</keyword>, executive director corporate <keyword id="6374832" type="General" weightage="50" keywordseo="treasury" source="Orion">treasury</keyword>, <keyword id="133737" type="General" weightage="50" keywordseo="dbs-bank" source="Orion">DBS Bank</keyword>, Singapore. </li><li>MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth ₹ 6,500 crore. </li></ul> Fintech company MoneyPlanned on Monday raised over ₹2.5 crore in a seed funding round led by Inflection Point Ventures. The other investors who participated in the round include California-based startup accelerator Expert Dojo, Joseph R Saviano – partner at Dot Capital, New York and Sameer Khan – executive director corporate treasury, DBS Bank, Singapore. Founded in July 2020 by Sameer Shashank Gattupalli and Nikhila Putcha, MoneyPlanned is a fintech platform assisting clients to automate their financial goals. The funds raised will be used for marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams. “India has a large base of salaried people with more youngsters joining the workforce every year. Financial planning is not a luxury anymore but a necessity, that's one of the biggest lessons from the Covid pandemic. MoneyPlanned’s platform is built to offer a personalised service at scale. At IPV, we invest in businesses that have the ability to scale while maintaining a healthy business matrix,” <keyword id="6342098" type="General" weightage="50" keywordseo="vinay-bansal" source="Orion">Vinay Bansal</keyword>, Founder CEO, Inflection Point Ventures, said. MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth ₹ 6,500 crores. The founders aim to build an advanced financial planning platform powered through technologies like AI and blockchain that performs like an in-person financial planner. According to a survey conducted by <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword>, only 27% of India's population is financially literate. The ratio of advisors to investors is only 1:76000, which can be solved using technology, states MoneyPlanned. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-best-deals-and-offers/articleshow/94004700.cms">Amazon Great Indian Festival sale announced – card offers, cashback, new launches and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/call-of-duty-warzone-mobile-announced-heres-how-to-pre-register-on-android/articleshow/94297494.cms">Call of Duty: Warzone Mobile announced — here’s how to pre-register on Android</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/anil-agarwal-profile-vedanta-resources-listing-in-london-stock-exchange-gujarat-semiconductor-chipset-plant/articleshow/94297057.cms">Anil Agarwal – how a Bihar boy who knew only ‘yes’ and ‘no’ went onto list the first Indian company on London Stock Exchange</a>

Fintech company MoneyPlanned raises over ₹2.5 crore from Inflection Point Ventures, others

Prime Minister Narendra Modi will depart for a two-nation visit today, beginning with Moscow, <keyword id="19895159" type="General" weightage="20" keywordseo="Russia" source="keywords">Russia</keyword>, where he has been invited by <keyword id="20169727" type="General" weightage="20" keywordseo="President-Vladimir-Putin" source="keywords">President Vladimir Putin</keyword> to attend the 22nd India-Russia Annual Summit. Following his engagements in Russia, Prime Minister Modi will proceed to <keyword id="19935217" type="General" weightage="20" keywordseo="Austria" source="keywords">Austria</keyword> on July 9-10. This visit marks a historic occasion, as it will be the first time an <keyword id="20099937" type="General" weightage="20" keywordseo="Indian-Prime-Minister" source="keywords">Indian Prime Minister</keyword> has visited Austria in 41 years. Speaking to ANI, EAM S Jaishankar said that this visit will be a great opportunity for <keyword id="19899320" type="General" weightage="20" keywordseo="PM-Modi" source="keywords">PM Modi</keyword> and Russian President Putin to sit and discuss the relationship. "There was a bit of a delay in our annual summits, it is a good tradition, we are two countries which have a strong history of working together. We did value the need for an annual summit. Last year when I went to Moscow, I carried a message from the PM that we are committed to the annual summit and we will do it sooner rather than later...it is a regular recurrence. It is a way of taking stock of any relationship," PM Modi is expected to meet Putin later in the day on Monday. Indian Ambassador to Russia, Vinay Kumar said the visit was a very important one. "Russia is now one of the very important sources of energy resources in India. Also, trade has expanded in other areas. So this visit becomes very important for the leaders to exchange views on all these developments in the bilateral relationship, but also other regional and international issues of mutual interest," he said. Vinay Kumar said that PM Modi during his visit will have a private meeting with Russian President Putin, attend the lunch-on hosted by Putin and visit an exhibition centre. He said that PM Modi will address a gathering of Indian community members in Russia. Elaborating on PM Modi's schedule during his visit to Russia, the Indian envoy said, "The program includes a private meeting with President Putin, delegation-level talks, restricted talks, luncheon hosted by President Putin for Prime Minister and his delegation, visit to an exhibition centre in the VDNKH Complex, Rosatom Pavilion, and also exchange of documents which we are preparing to sign and exchange during the visit." Earlier, sharing details about the PM's visit to Russia, Foreign Secretary Vinay Kwatra on July 5 said that both leaders have spoken on the phone multiple times since their unofficial meeting in Samarkand, Uzbekistan, in 2022. "The last, that is the 21st, annual summit, you would recall was held in New Delhi in December 2021. The two leaders thereafter met in September 2022 in Samarkand on the margins of the SCO summit in Uzbekistan. They have also stayed in touch with each other through several telephonic conversations through these years," Kwatra said. As per the Foreign Secretary PM will arrive in Moscow in the late afternoon of July 8. Russian President Putin will host a private dinner for PM Modi on the day of arrival. PM Modi and the Russian President will review the full range of multifaceted ties between India and Russia. "These engagements will be followed by a restricted level talk between the two leaders, which will then be followed by delegation level talks led by the Prime Minister and the Russian President" as per the Foreign Secretary. PM Modi will then travel to Austria as India and Austria celebrate 75 years of diplomatic relations. The Prime Minister will hold discussions with Austrian Chancellor Karl Nehammer on strengthening the bond between the two nations and exploring new avenues of cooperation. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/bansal-wire-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111567787.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/bansal-wire-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111567787.cms" target="_blank">Bansal Wire IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms" target="_blank">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a><a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms" target="_blank">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a>

PM Modi to embark on two-nation tour to Russia and Austria

<ul><li><keyword id="15097710" type="General" weightage="20" keywordseo="Angel-investment-platform-IPV" source="Orion">Angel investment platform IPV</keyword> has 7,295 investors on its platform.</li><li>Average investments of these angel investors is anywhere between Rs 5-7 lakh a year</li><li>More than 10% of IPV’s investments are in startups spread across Tier 2 and 3 towns</li></ul>Technology has democratised many businesses that were earlier the preserve of a few. Angel investing is one such business that has now become relatively more transparent compared to earlier times and even investors with a ticket size of ₹2.5 lakh a year can now become angel investors. The fallout of this is that great businesses and smart founders now have many more avenues to raise capital without the usual runaround. It is this philosophy that is the driving force behind the four-year-old <keyword id="15097711" type="General" weightage="20" keywordseo="angel-funding-platform" source="Orion">angel funding platform</keyword> <keyword id="7036829" type="General" weightage="20" keywordseo="Inflection-Point-Ventures" source="Orion">Inflection Point Ventures</keyword> (IPV). Vinay Bansal, CEO and founder of IPV, discovered some obvious pain points that both investors and startup founders faced for the smallest of funding rounds. While the process was tedious for the founders, lack of clarity was a big issue for angel investors. These problems also resulted in a low success rate of <keyword id="2023759" type="General" weightage="20" keywordseo="startups-in-india" source="Orion">startups in India</keyword>. IPV set out to resolve all three issues with its own unique propositions. “We decided to solve these problems and started investing in a few startups with a sharp focus so that the founders could grow. We also provided them with mentorships. Some of these startups include the likes of Milk Basket and Fitso that went on to become very successful.” IPV decided to do things differently to improve the success rate of startups in India, which also improved returns for investors. In less than four years, IPV has invested in 140 companies and the IRRs (internal rate of returns) are significantly higher compared to many others. India has spawned many unicorns in the last three years, as the pandemic led to innovative models to solve problems thrown up by the lockdowns. India saw 44 unicorns emerge in 2021 and the trend continues in 2022, albeit at a slower pace. Interestingly, the startup bug is not just restricted to the big cities. Today, there’s a startup in each of the 625 districts of India and 50% of these come from Tier 2 and Tier 3 towns. IPV is one of the few players that has had its eyes on such players since 2020. Nearly 10% of its portfolio companies come from the hinterland. Born in 2019, this platform has funded some very interesting startups that nobody was willing to bet on – these were from India’s Tier 2 and Tier 3 cities, but were solving problems that are unique to the country’s hinterland. The venture platform is agnostic to sector, stage and geography in which the startup is in. What matters to IPV is the quality of the founder, idea and valuation. “Great people can come from anywhere and we took bets on startups nobody was betting on back in 2020. We go by great ideas that can come from anywhere, which is why we funded BluSmart in Ahmedabad and Multibhashi from Jaipur. These founders are sharp, smart and hardworking to their core,” explains Bansal. Thanks to ventures like IPV, television shows like Shark Tank and a media blitzkrieg are helping more startups in Tier 2 and Tier 3 towns. What also makes IPV unique is that its model of raising capital is more broad-based, which is why its investments are not held hostage by any funding winter or moves made by the Federal Reserve. “We want to continue to democratise investments for average Indians who have a ticket size of ₹5 lakh.” The platform has 7,295 investors on its platform and it continues to grow. “The way we set ourselves up was to be different from others. We were able to fund even during the pandemic and all these investments are between Series B and D today. We went against the market in 2021 and started exiting from our investments. We don’t work on the dry powder concept as we get funds from salaried investors. Over the last couple of months we have cut million dollar cheques. Winters are good for us as we get access to good companies at better valuations. We have to overcome our fear of investing when others are not,” says Bansal. The average ticket size that the angel investors cut out each year ranges between ₹5-7 lakh. IPV’s investors come from not just India but also from other countries. To invest, all that the angel investors need to do is fill a form and get started. The process is equally easy for startups that need funding. IPV replies to founders within 20 days of sending an application. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-headed-lower-as-rbi-intervention-unlikely-to-be-aggressive/articleshow/94473133.cms">Rupee headed lower as RBI intervention unlikely to be “aggressive’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-markets-take-a-breather-after-huge-sell-off-on-monday/articleshow/94468819.cms">Indian markets take a breather after huge sell-off on Monday</a>

Inflection Point Ventures’ focus on great founders takes it to Tier 2 & 3 towns

<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>The coronavirus pandemic hit businesses all across the world, leading to pay cuts and job losses for millions. </li><li>In the first six months of 2020, startup funding has fallen by 29% – from $5.9 billion in 2019 to $4.2 billion this year. </li><li>As startups take stock of how their businesses are set to fit in in a world during and post COVID-19, <keyword id="6362476" type="UNKNOWN" weightage="20" keywordseo="investments">investments</keyword> could pick up in the second half of 2020. </li></ul>The coronavirus pandemic hit businesses all across the world, leading to pay cuts and job losses for millions. Investors too held on to their purse strings as they took stock of the impact of the coronavirus shutdown. This has resulted in the Indian startup ecosystem seeing the worst first half (H1) funding in three years, according to Tracxn's India-Tech Semi-Annual Fact Sheet. In the first six months of 2020, startup funding has fallen by 29% – from $5.9 billion in 2019 to $4.2 billion this year. <div type="image" title="h1 2020." msid="76868290" hostid="261"></div> While 2019 saw six <keyword id="2023017" type="ORGANIZATION" weightage="20" keywordseo="unicorns">unicorns</keyword> (startups with a valuation of over $1 billion) in the first six months, in 2020 there were three – Nykaa, Pine Labs and <keyword id="2663088" type="COMPANY" weightage="20" keywordseo="First-cry">First Cry</keyword>. The biggest funding rounds were led by the unicorns who took home 30% of all the funds raised this year. Here are the top startups that have raised funds this year so far <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;">Startup </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;">Funding raised this year </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;">Byju’s </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;">$500 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;">First Cry </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;">$300 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;">Zomato </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;">$150 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;">$113 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;">Unacademy </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></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;">Bounce </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;">$105 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;">Nykaa </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;">$13 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;">Pine Labs </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></tbody></table> According to Tracxn, the top three sectors that received funding are Alternate Lending, Edtech (Test preparation tech) and payments. The second half of 2020 As people get adjusted to the new normal and startups take stock of how their businesses are set to fit in in a world during and post COVID-19, investments could soon pick up. Several investment funds have also raised money to start doling out cheques. Notably, Sequoia India has raised $1.35 billion for two new Sequoia India funds: a $525M venture fund and a $825M growth fund. Sequoia India’s managing director Shailendra J Singh believes that ironically enough, the Covid pandemic has already catalyzed a massive change in almost every startup’s trajectory. “Dozens of founders in our region have demonstrated outstanding leadership and agility in adapting to the pandemic. Costs have been trimmed, product roadmaps have been prioritized, new revenue levers have been unlocked and wonderful new talent has been hired. We need to build on this Covid-induced state of high performance, stick to first principles, and remain relentless in our pursuit of sustainably successful companies,” he said <a href="https://www.linkedin.com/pulse/fork-road-shailendra-j-singh/?published=t">in a note.</a> Angel investment 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. “While we don’t have targets, we are looking to invest in 40-50 startups this year,” Vinay Bansal, co-founder of IPV had told Business Insider in <a href="https://www.businessinsider.in/business/startups/news/this-indian-angel-investment-platform-has-invested-in-eight-cos-in-60-days-and-plans-to-fund-startups-every-week/articleshow/76082960.cms">an earlier interview</a>. 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. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/instamojo-ceo-explains-how-the-startup-turned-cash-flow-positive-during-the-lockdown/articleshow/76865741.cms">Instamojo CEO explains how the startup turned cash flow positive during the lockdown</a> <a href="https://www.businessinsider.in/business/corporates/news/irctc-share-price-and-fourth-quarterly-earnings-preview/articleshow/76866469.cms">IRCTC shares on the edge waiting for the first lockdown earnings</a>

Unicorns⁠ like Byju’s, First Cry, and Zomato bagged one in every three dollars invested in startups this year

The <keyword id="6354977" type="ORGANIZATION" weightage="80" keywordseo="Supreme-Court">Supreme Court</keyword> today sought responses from senior <keyword id="6356617" type="POSITION" weightage="80" keywordseo="bjp-leader">BJP leader</keyword> L K Advani and others on a plea against dropping of criminal conspiracy charge against them in the Babri mosque <keyword id="6367653" type="PERSON" weightage="80" keywordseo="Demolition">demolition</keyword> case. 
 A bench headed by <keyword id="42759" type="POSITION" weightage="80" keywordseo="Chief-Justice">Chief Justice</keyword> H L Dattu issued notices to the BJP leader and the CBI on a separate plea filed by Haji Mahboob Ahmad, one of the petitioners in the Babri mosque case. 
 
 
Ahmad, in his plea, has alleged that CBI may dilute its stand in the wake of the change in the government at the Centre. 
 Earlier, the CBI had moved the apex court against <keyword id="48834" type="ORGANIZATION" weightage="80" keywordseo="Allahabad-High-Court">Allahabad High Court</keyword>'s verdict on dropping conspiracy charge against Advani and 19 others in Babri mosque demolition case. 
 
 
During the brief hearing, CBI today sought time for filing a fresh affidavit on delay in filing the appeal and on the merits of the case. 
 
The court allowed the plea of the probe agency and granted four weeks time to file the response. 
 
The apex court had earlier pulled up CBI for the delay in filing an appeal against the Allahabad High Court verdict. 
 
 
CBI has challenged in the Supreme Court the May 21, 2010 order of the high court, which had upheld a special court's decision to drop the charge against the leaders. 
 In its verdict, the high court had upheld the special <keyword id="6362306" type="ORGANIZATION" weightage="80" keywordseo="CBI-court">CBI court</keyword> order dropping conspiracy charge against Advani, <keyword id="6361634" type="PERSON" weightage="80" keywordseo="Kalyan-Singh">Kalyan Singh</keyword>, <keyword id="42642" type="PERSON" weightage="80" keywordseo="Uma-Bharti">Uma Bharti</keyword>, Vinay Katiyar and Murli Manohar Joshi. 
 
The others against whom the charge was dropped included Satish Pradhan, C R Bansal, Ashok Singhal, Giriraj Kishore, Sadhvi Ritambhara, V H Dalmia, Mahant Avaidhynath, R V Vedanti, Param Hans Ram Chandra Das, Jagdish Muni Maharaj, B L Sharma, Nritya Gopal Das, Dharam Das, Satish Nagar and Moreshwar Save. 
 
Bal Thackeray's name was removed from the list of accused persons after his death. 
 
While upholding the special court's order, the high court 
 
 While upholding the special court's order, the high court had allowed CBI to proceed with other charges against Advani and others in a <keyword id="2788382" type="ORGANIZATION" weightage="80" keywordseo="Rae-Bareily-court">Rae Bareily court</keyword>, under whose jurisdiction the case falls. 
 
The May 2010 order of the high court had said there was no merit in CBI's revision petition against the May 4, 2001 order of the special court which had directed dropping of criminal conspiracy charge against them. 
 
 
There are two sets of cases -- one against Advani and others who were on the dais at Ram Katha Kunj in Ayodhya on December 6, 1992 when the Babri mosque was demolished, while the other case was against lakhs of unknown 'karsevaks' who were in and around the disputed structure. 
 
CBI had charge sheeted Advani and 20 others under sections 153A (promoting enmity between classes), 153B (imputations, assertions prejudicial to national integration) and 505 (false statements, rumours etc. circulated with the intent to cause mutiny or disturb public peace) of the IPC. 
 
It had subsequently invoked charges under section 120B (criminal conspiracy) of IPC which was quashed by the special court whose decision was upheld by the high court. 
While upholding the special court's order, the high court had said CBI at no point of time, either during the trial at Rae Bareily or in its revision petition, ever stated that there was offence of criminal conspiracy against the leaders.

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New Supreme Court notice to Advani, 19 others in Babri demolition case

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