📊 VC funding makes steady recovery

The most interesting news selected specially for you! 06 August 2024 [View in Browser]( Hello, Tis’ the season of IPOs. Ola Electric’s [public issue]( was fully subscribed on day two, with the total offering subscribed almost 2X at the end of bidding for the day. The retail portion was subscribed almost 3X. The Rs 6,145-crore IPO—one of the biggest this year—includes a fresh issue of Rs 5,500 crore and an offer-for-sale component of 8.4 crore shares. But there’s more to come. Omnichannel retailer [FirstCry’s IPO]( is set to open for subscription today. Through the public offer, the company plans to raise Rs 4,194 crore. While startups are renewing their confidence in the bourses, the stock market is in the grip of recession fear. BSE Sensex and Nifty crashed in trade on Monday, both plummeting nearly 3%. Meanwhile, Japan’s Nikkei 225 share index plunged as much as 12%—most since the 1987 Black Monday crash—triggered by the fear of unwinding Yen-based carry trade. Wall Street too was in the grip of a global stock rout as the Dow, S&P500, and Nasdaq fell more than 2% in early trading. Tech stocks took a major beating, with NVIDIA tumbling roughly 7% as the markets opened. The bloodbath—no other way to call it—even resulted in thousands of traders facing downtime on some online brokerages, including Charles Schwab and Fidelity. The cryptosphere wasn’t spared either, with Bitcoin slumping 10% and Ethereum facing its most dramatic fall since 2021. However, the chaos became an opportunity for some crypto hackers. A blockchain wallet linked to a hacker that pulled off a massive crypto heist two years ago swapped a chunk of its ill-gotten gains for Ether, buying nearly 17,000 tokens! Now that’s one ‘Den of Thieves’! In today’s newsletter, we will talk about - VC funding’s steady recovery - Tailoring therapy for neurodivergent kids - Eco-friendly airflow solutions Here’s your trivia for today: How many times have the Olympics been hosted in Paris? --------------------------------------------------------------- Funding VC funding’s steady recovery Capital (VC) funding into Indian startups crossed the $1-billion mark on a month-on-month basis for three months in a row, auguring well for the ecosystem which seems to be slowly stepping away from the funding winter. This psychologically important benchmark of $1 billion is important for the Indian startup ecosystem as it will boost the overall fund inflow. Milestone: - The total VC funding for July 2024 came in at $1.1 billion, which was a 103% rise compared with the same period a year ago when the amount stood at $529 million, according to data from YourStory Research. - In terms of stage-wise funding, the early category continues to see the highest traction, garnering $447 million for the month, followed by the growth stage and then the late-stage category. - In terms of sectors that received the highest funding in July, fintech garnered the highest amount at $145 million, followed by ecommerce at $141, and mobility stood at $120 million. [Read More]( --------------------------------------------------------------- Funding alert 1) Agrizy: $9.8M|Series A 2) Latambarcem Brewers: $1.5M |Pre-Series A 3) CURRYiT: Rs 4.5 Cr|Seed --------------------------------------------------------------- Startup Tailoring therapy for neurodivergent kids a world where neurodiversity is increasingly recognised and understood, the search for effective therapy options, tailored to each child’s unique needs, often leads to a frustrating maze of limited resources and inadequate solutions. This is where Butterfly Learnings comes in. Founded in 2021 by the husband-wife duo Abhishek Sen and Dr Sonam Kothari, the startup aims to address the deficiencies in children’s mental health and developmental support. Personalised support: - Mumbai-based Butterfly Learnings offers a range of therapies tailored to each child’s needs, including Applied Behavioral Analysis, occupational therapy, speech therapy, oral placement therapy, and sensory integration. - The startup’s proprietary technology stack allows for detailed monitoring and analysis of therapy outcomes, ensuring that each child receives individualised attention and care. - Sen and Kothari invested around Rs 2 crore to bootstrap the startup. Currently, it has a team of over 300 members, including over 250 therapists. [Read More]( --------------------------------------------------------------- Women Entrepreneurs Eco-friendly airflow solutions four years ago, when Tanya Goyal and Karan Bansal were living in an apartment in Jaipur with a low ceiling, they were frustrated with the ceiling fan options in the market. That’s when they decided to come up with a device that would offer a seamless alternative to ceiling fans. What began as a small project to meet their personal needs quickly evolved into an innovative all-in-one climate solution: Karban Envirotech. Multi-functional: - To optimise the performance of the product, Karban Envirotech utilises CFD technology, allowing them to refine the airflow dynamics, ensuring maximum efficiency and effectiveness. - In April this year, the startup secured seed funding from marquee investors including Titan Capital, All In Capital, Rainmatter, and Anupam Mittal. - Building on the success of Karban Airzone, the company recently introduced Karban Airzone Lite, a smaller version designed for more compact spaces. [Read More]( --------------------------------------------------------------- Application open for Tech30 you a visionary founder at the helm of a startup poised to redefine industries? Look no further than Tech30, the ultimate platform to showcase your innovation. Tech30 is more than just a recognition; it's a catalyst for the future. We're on a mission to bring together India's brightest tech minds to unravel the next big thing. If you're building groundbreaking solutions that have the potential to reshape our world, Tech30 is your launchpad. Join us as we celebrate the pioneers driving India's tech revolution. [Apply for Tech 30]( News & Updates - [AI vs law:]( Elon Musk has revived his complaint against OpenAI after dropping a previous lawsuit, again alleging that the ChatGPT maker and two of its founders—Sam Altman and Greg Brockman—breached the company’s founding mission to develop AI technology to benefit humanity. - ['Thousand Sails':]( Chinese state-owned enterprise, the Shanghai Spacecom Satellite Technology, launched the first batch of satellites for a mega-constellation designed to rival Space X's Starlink's near-global internet network. The project aims to deploy 15,000 low-Earth orbit satellites. - [NVIDIA rival:]( Groq, a startup developing chips to run generative AI models faster than conventional processors, has raised $640 million in a new funding round led by Blackrock. It is creating an LPU (language processing unit) inference engine which it claims can run existing generative AI models similar in architecture to OpenAI’s ChatGPT and GPT-4o at 10X the speed. Here's what else we have for you The Vananam way: Building a profitable business through Trust, People, and Perseverance In an exclusive interview with YourStory’s Shradha Sharma, Keshav and Mahendra talk about the challenges they faced and how they grew their business without VC Money. Learn how their focus on helping people and strong values led to their success. Discover how their passion for giving back through the Vananam Foundation aims to improve 10,000 lives in the next few years through education, disaster relief, sports scholarships, and preserving culture. Don’t miss this incredible story of resilience, innovation, and giving back. Watch the full interview and be inspired! [Watch Now]( Did you know? How many times have the Olympics been hosted in Paris? Answer: Three (1900, 1924, 2024) We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](