Fresh funding for consumer and SaaS startups ????
Iron Pillar and V3 Ventures, two venture capital firms, have created funds to invest in the consumer and software-as-a-service (SaaS) sectors, respectively, amid a slowdown in funding for the startup environment.
According to a report by The Economic Times, Iron Pillar has raised $129 million to invest in global cloud software companies based in India.?
The fund will reinvest in growth-stage firms, including Series B and Series C rounds, and will concentrate on the SaaS and cloud infrastructure market as well as areas including cyber security and governance, DevOps tools, automation, the digital workplace, and training, according to managing partner Anand Prasanna.
Iron Pillar has previously supported businesses like FreshToHome, Curefoods, and Uniphore. The company intends to double the size of the whole fund by launching a second India-focused fund. Iron Pillar will consider investing in more business-to-business software startups in India through its domestic opportunities mechanism even though this fund is specifically for SaaS and cloud.
According to the report, the company would make investments in the consumer environment with a focus on consumer brands, consumer technology, and platforms and commerce enablers. Companies including Byju's, Kuku FM, Eka Care, and Sula Vineyards have benefited from investments made by the early-stage investment firm.
Let's take a look at potential additional investments in other businesses
?1. According to Business Standard, online eyewear retailer Lenskart and the Abu Dhabi Investment Authority have inked a binding agreement to raise $500 million.?
“The funds will be used to expand operations in India and existing global markets,” says Peyush Bansal , Co-Founder, Chief Executive, and People Officer, at Lenskart.com .?
2. According to The Economic Times, Qatar-based Al-Abdulla Group has invested $50 million in the electric two-wheeler business Kabira Mobility .
The funds will be utilized to increase the capacity of electric bike production, introduce new products, and enhance the whole sales infrastructure across the nation,” says Jaibir Siwach , CEO of Kabira Mobility .
3. According to The Times of India, the ChargeZone electric vehicle charging startup has raised $54 million in a Series A investment.
“The funds would be used to install charging stations for e-buses, e-trucks and e-cars,” says Kartikey Hariyani , the founder and CEO at ChargeZone
4. Digital lender DMI Finance has raised $400 million of equity capital, and the funding round was led by Japan’s Mitsubishi UFJ Financial Group, according to The Hindu BusinessLine reports.
Shivashish Chatterjee , co-founder and joint managing director of DMI Finance Private Limited , said “the money would be used to support the business expansion into the digital financial market.”
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1 年Well said.