Explosive DDay 3: $80 Million Funding Galore as 23 Startups Impress 9Unicorns and Venture Catalysts

• ByStartupStory     |    August 17, 2023

The third edition of the demo day event, DDay3, organized by 9Unicorns and Venture Catalysts, achieved significant success, with all 23 participating startups collectively raising approximately $80 million in funding. Apoorva Ranjan, Co-founder and Managing Director of Venture Catalysts, emphasized the commitment to nurturing the startup ecosystem through DDays events, highlighting that all the participant startups in this edition successfully secured funding, marking a remarkable achievement given prevailing market conditions. The event, held on April 18, 2023, followed two prior one-day events where startups pitched to global investors, including venture capitalists and family offices. DDay 3 featured 23 startups from various industries and attracted over 700 investors.

Soham Avlani, Partner at 9Unicorns, underscored the positive impact of DDay 3 on portfolio companies, particularly in raising capital during uncertain times. He highlighted the role of initiatives like DDay in scaling portfolio development and streamlining the process of raising Series A rounds. Avlani acknowledged the enhanced efficiency in raising funds from global investors, ranging from $3 to $10 million.

The economic instability on a global scale has posed funding challenges for Indian startups in recent quarters. DDay 3 emerged as a crucial opportunity for startups, especially those from Tier II and III cities where funding opportunities are relatively scarce. Among the 23 participating startups, 52% were from Tier II and III cities.

9Unicorns, renowned as one of India’s prominent accelerator funds, and Venture Catalysts, an early-stage investor, have consistently supported startups through initiatives like DDay. Their commitment has resulted in over 60 companies securing capital since the inaugural DDay event in 2021. Startups spanning 12 industries participated in DDay 3, with prominent sectors including fintech, media and entertainment, B2B SaaS, and impact and sustainability. Notably, six of the startups featured at least one woman entrepreneur.

Often likened to the Y-Combinator of India, 9Unicorns recently concluded the final closure of its inaugural fund, surpassing its target by raising Rs 837 crore. The portfolio of 9Unicorns encompasses diverse companies such as cosmetics brand Renee, SaaS firm VideoVerse, and electric delivery platform Zypp. The success of DDay 3 underscores the ongoing commitment to supporting startups in future editions.

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