The glamour🦸 and reach of Bollywood celebrities have turned them into the new angels👼 of the startup ecosystem🥇. Over the last few years, film industry celebrities such as Amitabh Bachchan, Amir Khan, and Deepika Padukone have invested heavily💰 in Indian startups.
Questions🤔 regarding vision vs glam have emerged due to which startup founders👨🏻🤝👨🏻 need to carefully choose the right celebrity cum investor🧑💼.
Keep reading E-Cell IIT BHU’s newsletter📝 and build your startup fundas so that one day, you might raise funding from your favorite celebrity!
#headlines
Weekly Funding Update🤑
The Indian startup🚀 ecosystem has raised around $118 Mn💸 across 24 deals between July 25 and 30, 2022
Rural fintech startup Jai Kisan👨🏽🌾 raised $50 million in a Series B round🪙
Indian startups have raised a total of $1.1 billion in July 2022, making it the lowest capital📉 raised in a month this year.
Startup & Tech News📈
Swiggy😋 has announced a permanent work-from-anywhere🏠 policy and allowed its full-time employees to work second jobs under some limitations
Logistics startup🚚, Xpressbees bags 195 cr in funding this week
Ola🚗 to layoff 1000 employees while actively hiring for EV⚡ biz
Uber sells its stake in Zomato in a deal worth $392 million to get a 2x return
#quotethis
“Your most unhappy customers are your greatest source of learning.”
— Bill Gates
#whatsthisword
Venture Capital (VC)
Venture Capital is one of the major driving forces to help grow a startup in its early stages. Let’s know about them a little more here:
What is it? If a firm believes that your startup has a long-term growth potential📈 and will provide capital💸 and mentor it, then it is called a “Venture Capital” firm.
How does it work? A venture capitalist asks for “equity” in your startup in exchange for financing 💵 and strategic assistance♟️. So, the VC firm buys a stake in an entrepreneur’s idea💡 and nurtures it for a short period.
Examples of VC in India: Sequoia Capital, Tiger Global, and Accel Ventures.
Fun fact: In 2021, the total VC funding in India was more than $38 billion🤑!!
#youtubebinge
“You can't run a business without formal education and MBA degrees”- a stereotype broken by 7 ordinary women🙋♀️ in the fairytale success 📈of Lijjat Papad.
Starting off with mere Rs. 80 as capital at the time when women were confined at their homes and had minimum or no literacy, these clear visioned incredible women👑 turned it into a business worth Rs. 1600 Crores🤑. They implemented the concept of collective ownership, and guess what, they did it way before Starbucks☕ did!!
Want to know more about their inspirational🌟 story? Watch the full video ▶!
#Tweetworthread
That’s all for this week, folks😇! Stay tuned for more fun stories and exciting news from the startup world until we meet again👋!