Startups

7 Raj startups raise over Rs 200cr in 4 months | Jaipur News

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Jaipur: After a dry spell due to lockdown, about seven startups in Rajasthan have raised over Rs 200 crore in the last four months, reflecting increasing investor appetite for rural and social impact themes.
Investors also said that the Covid-19 pandemic lowered risks as sustainable and scalable ventures got separated from the weaker ones providing better insights.
“Investors now have a better understanding of where they are putting their money in. The pandemic has not only segregated leaders from laggards, but offered them opportunities in worst-case scenarios. The valuations have also come down to realistic levels. All these have increased investor appetite,” said Mahavir Sharma, president, TiE Global and co-founder of Rajasthan Angel Investors Network (RAIN).
While city-based Rajasthan Venture Capital Fund (RVCF), which raised Rs 121 crore, has been active in the market making small ticket investments of about $1 million, startups like DealShare and Fleeca India have raised funds from reputed investors outside the state.
RVCF has funded MedCords that is digitising rural pharmacies, animal feed solution provider Krimanshi Feeds, artisan-driven online textile retailer Fabriclore, agri-tech startup Freshokartz, and local grocery shop aggregator Kirana King.
While Fleeca India raised Rs 25 crore from tyre maker Bridgestone India, DealShare, an e-commerce platform for middle and lower-income groups, tied up $21 million in Series C round of funding from a clutch of investors led by WestBridge Capital.
Chintan Bakshi, CEO of Startup Oasis, said, “Investors are finding interest in tier-II, rural and social impact themes. That’s why startups in smaller cities are now on their horizon. Based in tier-II locations, these startups understand the social nuances of the region better, unlike ventures run from big cities.”
Bakshi said that Startup Oasis, which provides seed funds, has invested Rs 4 crore last year in 18 startups having rural and social impact themes.

Read more at timesofindia.indiatimes.com

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