Mohit Kaul

Anthropic raised $13B at a $183B valuation Fundraise is greater than entirety of VC in India raised in 2024, valuation is close to that of all of India's unicorns in total The crazy part is that it's a spin-off team from OpenAI, which itself is worth $300B Different scale

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Most of the good early stage VCs in India now have visibility of at least 1-2 IPOs/year in their portfolio for the next 3 years. Understandably, this is becoming a barometer for investor-partner selection by the best founders at the early stages.

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Indian startups raised $144 Mn last week. 22 deals | Most Active Investor : Peak XV Partners, Y Combinator and Antler | 7 Seed stage deal amounting to $11 Mn (Avg. Deal Size = $1.5 Mn) Series E Pratilipi (Media & Entertainment – Digital Media) raised $20M from Jungle Ventures, Ravish Naresh, and Arnav Kumar, with Jungle Ventures leading. Series D Tonbo Imaging (Deeptech – Defense Tech) secured $20.4M, backed by Florintee Advisors and EXIM Bank. Series B Scapia (Fintech – Lendingtech) raised $40M, led by Peak XV Partners, with participation from Elevation Capital, Z47, and 3STATE Capital. Series A Aerem (Fintech – Solar Tech) raised $12M, backed by Tokyo Edge Capital Partners, British International Investment, SE Ventures, Riverwalk Holdings, and existing investors. Sweet Karam Coffee (Ecommerce – D2C) secured $8M from Peak XV Partners and Fireside Ventures. RapidClaims (Enterprise Tech – SaaS) raised $8M, with Accel and Together Fund participating. The Bear House (Ecommerce – D2C) brought in $5.8M, funded by JM Financial Private Equity. Infinity Fincorp Solutions Private Limited (Fintech – Lendingtech) raised $5M, backed by Beams Fintech Fund. Evenflow (Ecommerce – Roll-ups) secured $5M, with investment led by Venture Catalysts and Sunder Ramachandran. Seed Round FurtherAI (Fintech – Fintech SaaS) raised $5M from Nexus Venture Partner, Pioneer AI Fund, South Park Commons, Y Combinator, and others. DeCharge Network (Cleantech – Electric Vehicle) brought in $2.5M, with backing from Lemniscap, Colosseum, Daedalus Angels, and others. LehLah (Ecommerce – Social Commerce) secured $1.5M, backed by Gruhas. Alienkind (Consumer Services – Foodtech) raised $1.2M, led by Prakash Sikaria, Ravi Iyer, and Arpan Sheth. Perkant Tech Private Limited (Healthtech – MedTech) raised $772K, with funding from YourNest Venture Capital, Atal New India Challenge, and others. Pre-Series A Tvaster Genkalp (Healthtech – Healthcare Services) secured $1.3M, backed by Ideaspring Capital, Invigo Softwares, and Mohamed Rela. DriverShaab (Consumer Services – Hyperlocal Services) raised $330K, funded by Firstport Capital and Inflection Point Ventures. Pre-Seed Stance Health (Healthtech – Fitness & Wellness) raised $1M, led by General Catalyst, with support from Antler, DEVC, EX Capital, and notable angels. InnerGize (Healthtech – MedTech) secured $525K, backed by Antler and a set of prominent angel investors including Arjun Vaidya and Aman Gupta. Undisclosed Round Jai Kisan (Fintech – Lendingtech) raised $3M, with participation from Mirae Asset, Unitary Fund, and Blume Ventures. Wendor - Smart Vending Solutions (Retail Tech) secured $2.5M from Elanpro. Entvin (YC S22) (Healthtech – Healthcare SaaS) raised $585K, backed by Y Combinator.

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Key Insights from the India Venture Capital Report 2025 by Bain & Company and Indian Venture and Alternate Capital Association (IVCA) 1. VC Funding Rebound: India’s VC funding surged to $13.7 billion in 2024, a 1.4x increase from 2023, making India the second-largest VC destination in APAC while global funding remained stagnant. 2. Surge in Deal Activity: 1,270 deals in 2024 (up ~45% from 2023), with 95% of deals under $50M. Larger deals ($50M+) nearly doubled, indicating a strong rebound in late-stage funding. 3. Tech-First Sector Dominance: Consumer tech, SaaS, and fintech secured 60%+ of total funding. Consumer tech saw a 2.3x jump to $5.4 billion, led by megadeals in B2C commerce, gaming, travel tech, and edtech. 4. Rise of Quick Commerce: Rapid adoption, profitable models, and evolving business propositions made quick commerce a breakout theme in 2024. 5. Generative AI & SaaS Growth: Funding in software/SaaS rose 1.2x to $1.7 billion, with Generative AI funding up 1.5x, signaling increasing investment in AI applications and platforms. 6. Traditional Sectors See Growth: BFSI and consumer/retail attracted increased investments due to their large addressable markets and favorable macroeconomic conditions. 7. Diverse Investor Base: A resurgence of PE funds, family offices, and corporate VC firms, with deal volumes up 1.8x YoY, showcasing renewed investor confidence. 8. Decline in Fundraising: VC fundraising dipped 35% to $2.7 billion, the lowest since 2020, as investors continued deploying existing dry powder. However, maiden funds gained prominence, focusing on sustainability, agriculture, gaming, and defense. 9. Exits on the Rise: Exit activity reached $6.8 billion, with public market exits surging from 55% to 76% of total exit value. A 7x jump in IPO exit value reflected improved liquidity and regulatory changes. 10. Regulatory Boost & Future Outlook: Policy reforms—removal of angel tax, LTCG tax reduction, and foreign VC registration simplifications—are fueling long-term VC growth. 2025 is expected to see more growth-stage deals and a rise in deep tech, energy transition, and semiconductor investments. ~~~~~ ♻️ Found this helpful? Repost it so your network can learn from it, too. And follow me, Fazlur Shah for more content like this. #startups #entrepreneurship #venturecapital #investing

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Indian startups are ditching Silicon Valley for home! The great Indian startup ghar vaapasi is in full swing. Let that sink in. Razorpay. Zepto. Groww. udaan.com. Pine Labs. Meesho. What we are witnessing is not a series of one-off moves, but a broader return from Delaware to India. For over a decade, the playbook was crystal clear: Build in India, incorporate in Delaware, raise from Sand Hill Road, list on Nasdaq. That playbook is dead. Here's what changed: A startup that would have raised capital in Silicon Valley can now raise more capital in India. Same company. Better terms. Home ground advantage. The IPO math is even more brutal for those who stayed offshore. Indian companies listing domestically are fetching better valuations compared to their US-listed peers. Meanwhile, compliance costs for offshore structures have tripled, and regulatory scrutiny has intensified. This isn't just about money, though the money is compelling. This is about where value gets created in the next decade. Boardroom conversations now have the question: "Should we come back?" And increasingly, the answer is becoming obvious. But here's the catch: The decision to flip goes beyond geography. It is a rethink of how startups build, scale, and create wealth in India. A SaaS company optimised for Silicon Valley metrics operates very differently from one built for Indian public markets. The investor base is different. The growth expectations are different. The exit strategies are fundamentally different. That's why this homecoming wave is a complete recalibration of how Indian startups think about wealth creation. In my latest Create Wealth newsletter, I break down: - Why startups went offshore - The roll call: startups making the move - The big flip: Why India looks better today - The IPO math- Why India now offers better outcomes - The challenges of homecoming Read the full analysis here: https://lnkd.in/dhr9kBiQ #CreateWealth #Dezerv #Startups #IPO #VentureCapital #StartupIndia #Founders

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⭐ Lessons from the Startup Trenches: My Journey So Far Embarking on the startup rollercoaster is a unique adventure—full of excitement, rewards, and occasional overwhelm. Crafting XTORC INDIA PRIVATE LIMITED from scratch has been a profound learning curve, offering insights beyond expectations. Here are some pivotal takeaways from this voyage: 1️⃣ Resilience is Key In the face of setbacks, unforeseen hurdles, and tough choices, resilience becomes indispensable. Maintaining focus on the overarching goal and swiftly adapting have proven to be transformative. 2️⃣ Team Dynamics are Paramount Building a team that echoes your vision, values, and dedication is fundamental. A cohesive, driven team turns challenges into triumphs. 3️⃣ Customer-Centric Approach Our customers are the compass of our journey. Their feedback, innovative ideas, and unwavering support have steered us towards creating tools like our Square Drive Torque Wrenches and Hex Drive Torque Wrenches tailored to their precise requirements. 4️⃣ Acknowledge Milestones Each small victory counts. Whether clinching a deal, unveiling a new product, or unraveling a complex issue, pausing to celebrate progress fuels the momentum. 5️⃣ Embrace Continuous Learning The startup expedition is a perpetual learning curve. Drawing wisdom from mentors, peers, and even missteps has proven to be the most valuable investment of time. Navigating the landscape of initiating and expanding a venture like XTORC is an ongoing odyssey. While challenges abound, each hurdle presents an avenue for personal and professional growth. Entrepreneurs, what profound lesson or guidance has left a mark on your entrepreneurial voyage? Let's exchange insights and ignite inspiration. Shahrukh Mirza Rahul Dusane #StartupJourney #Entrepreneurship #LessonsLearned #XTORC #BusinessGrowth

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