Indian Startup Ecosystem News Recap: Top Stories from (April 17th – April 21st)

• ByStartupStory     |    April 22, 2023

In recent years, the Indian startup ecosystem has seen remarkable growth, with numerous innovative companies emerging across various industries. India is now home to the third-largest startup ecosystem globally, after the United States and China, and has become a hub for tech innovation, with startups utilizing advanced technologies such as artificial intelligence, machine learning, and blockchain to solve complex problems.

Despite facing a funding winter in 2022, Indian tech companies managed to raise over $25 billion in the year. This was a significant drop from the previous year’s blockbuster funding of $38 billion when the Indian startup ecosystem broke all records in terms of fundraising and minting unicorns. However, this is still more than twice the $11.3 billion funding during 2020. The launch of startup series Shark Tank India in December 2021 captured the heady spirit of the previous year, with a bunch of mostly startup founders from unicorns and soonicorns. The series made the business of funding reach unknown corners of the country. While 2022 may have missed its defining moment, the Indian startup ecosystem remains strong and resilient.

This week Healthtech startup Tricog raised the highest amount of funding at $8.5 million from multiple investors in a Series B2 round.

Here is a list of 5 startups that excelled this week.

Tricog Health

Tricog Health, a Bengaluru-based startup focused on chronic disease management, has raised $8.5 million in its Series B2 funding round. The round was led by Omron Health Care and Sony Innovation Fund, along with participation from returning investors including The University of Tokyo Edge Capital, Inventus Partners and SG Innovate.

With the new funding, Tricog aims to expand its reach to Asia and Africa and strengthen its presence in the US healthcare market.

Mesa School of Business

Mesa School of Business, India’s first business school focused on creating startup leaders, has secured Rs 34 crore ($4 million) in a funding round led by Elevation Capital, a venture capital and growth-equity investment firm. Angel investors including Kunal Shah, founder of fintech player Cred, and Vidit Aatrey, founder of social commerce platform Meesho, also participated in the funding round. The business school plans to use the funds to create a cutting-edge, hands-on, and application-based curriculum designed and delivered in partnership with startup leaders and potential future employers for a founding cohort of just 60 hand-picked students.

SwitchOn

SwitchOn, a Bangalore-based AI startup that helps manufacturing companies detect and eradicate product faults, has raised $4.2 million in a funding round led by a Singapore-based fund along with Axilor Ventures, pi Ventures, and prominent angels. The company’s one-of-a-kind field-trainable AI system automates quality inspection, reducing manufacturing defects and cutting costs.

Cognecto

Bengaluru-based startup, Cognecto, has recently raised INR 4 crore in a seed round led by Inflection Point Ventures (IPV), a well-known investment firm. The funding will be used to develop regenerative AI to provide business and operational insights for the mining and construction sectors.

Two Brothers Organic Farms

Pune-based Two Brothers Organic Farms on Friday said it has raised Rs 14.5 crore from investors, including Bollywood actor Akshay Kumar and cricketer Virendra Sehwag.

The company sells a wide range of organic and natural ingredients-based products, including a variety of cultured A2 Ghee, millets and healthy grain flours, wood pressed oils and nut butters. It practices inter- and multi-cropping of fruits, vegetables, grains, legumes and pulses.

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