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Union Budget 2021, which will be presented on February 1. And, the Indian startups hope
Finance Minister Nirmala Sitharaman will provide the necessary boost to the third-largest startup ecosystem.
Key deals
Makers Hive, a Hyderabad-based startup that has developed and built a bionic arm, raised $9 million from Starfish Growth Partners and Investpad.
Reckitt Benckiser led a Rs 45 crore funding round into Bombay Shaving Company. The HNIs who were part of this include Rajesh Sud, Anjali Bansal, and Kuldeep Jain.
Other transactions
Saveo Healthtech, a B2B ecommerce platform for pharmacies, raised $4 million in seed funding co-led by Matrix Partners India and RTP Global, with participation from Incubate Fund and India Quotient.
Report)
Indian startups are estimated to have received $10.14 billion in funding across more than 1,200 deals in 2020 despite the COVID crisis, a report by consulting firm HexGn said.
Harley Finkelstein, President of Shopify. (Image credit: Harley s Twitter)
Harley Finkelstein, President of Shopify, believes the future of retail is not online or offline or on social media. The future of retail is everywhere, he said, adding that conscious consumerism is here to stay, as the COVID-19 pandemic transformed consumer preferences in a very concrete, permanent way that had not been seen before.
Edited by Tenzin Pema
Starfish Growth Partners, Investpad team up for $100 million fund
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Synopsis
The Starfish Investpad Innovation Fund will provide capital and fundraising advisory, business incubation and growth acceleration services, senior executives at both firms said.
ETtech
The Starfish-Investpad fund will remain industry agnostic but with a special focus on verticals such as education, manufacturing, deeptech, agriculture, fintech, healthcare and sustainability. (Illustration: Rahul Awasthi/ETtech)
Mumbai:Starfish Growth Partners and Investpad have jointly launched an innovation fund that will raise $100 million to invest in early stage startups over the next three years, both firms said on Monday.
The Starfish Investpad Innovation Fund will provide capital and fundraising advisory, business incubation and growth acceleration services, senior executives at both firms said.
Starfish Growth Partners and Investpad launch joint fund to raise $100 million for early-stage startups: Report
While not focused on any particular industry, the fund will likely pay attention to verticals such as agriculture, deep-tech, education, fin-tech, healthcare, manufacturing and sustainability
Representative Image
Starfish Growth Partners and Investpad on January 25 said they have launched a joint innovation fund called the Starfish Investpad Innovation Fund aimed at raising $100 million for early-stage startups over the next three years.
The fund will provide business incubation, capital, fundraising advice and growth acceleration services, senior executives of both companies told The Economic Times.
Starfish has a history in incubating over 25 startups and raising more than Rs 25 crore in funds for them, while Investpad provides critical capital.