elevation capital

Despite regulatory challenges imposing higher governance costs, procedural delays and hurdles in establishing partnerships with banks for fintech firms, such actions serve as a runway for them to build a scalable platform in the long run, said senior partners at early-stage venture capital investor firm Elevation Capital.“I think getting a regulatory clarity might make your task tougher because it adds governance and governance cost and it may make your task longer. But I think it provides a nice runway for you to scale…

Elevation Capital, the largest institutional shareholder in One 97 Communications-- owner of digital payments brand Paytm-- is staring at a massive erosion in the worth of its holding, amid a free-fall in the shares of the beleaguered company following the regulatory ban on its payment bank operations that comes into effect on March 15.The Ravi Adusumalli-led fund’s 15% stake in One 97, which was valued at about Rs 6,100 crore when the post-IPO lock-in expired in November 2022, had shrunk by nearly 40% to Rs 3,800 crore…

ShareChat is in final stages of deliberations to secure about $50 million in new funding that trims the startup’s valuation to below $1.5 billion, according to two sources familiar with the matter. Existing backers including Temasek and Tencent are among the investors in advanced stages of talks to invest in the new round, the sources said, requesting anonymity as the matter is private. ShareChat has had discussions with several potential new investors this year, but many have balked at the…

Homegrown startups are optimistic about fundraising prospects in the coming months even as the chill of the funding winter persists with startup investments having plunged to a seven-year low, according to the findings of a survey by venture capital firm Elevation Capital released on Friday.Nearly half of the more than 250 startup founders surveyed said they expect the funding freeze to thaw over the coming months, allowing them to extend their runways. Runway refers to the period for which a company's cash balance would…

Ola founder Bhavish Aggarwal on Friday unveiled the large language model (LLM) Krutrim, which he described as ‘India’s own AI’. This and more in today’s ETtech Top 5.Also in this letter:■ HC dismisses plea against Ashneer Grover on Nakrani share sale■ ETtech Deals Digest■ Third Wave Coffee fires 10% of staffBhavish Aggarwal unveils Ola's large language model Krutrim Krutrim, an artificial intelligence firm started by Ola Electric founder and chief executive Bhavish Aggarwal, announced its large language…

Dried up funding taps and an ongoing funding winter were some of the key aspects of 2022 for Indian startups. Raising global inflation, macroeconomic headwinds and interest rate hikes around the world kept investors away from taking risks with new businesses. The number of seed stage deals in India, according to data from London-based investment data platform Preqin, fell to 396 in 2022 from 500 in 2021. According to the same data, the amount of money pumped in by investors at the seed stage, rose by 86% to almost $1.5…

Polymerize cofounders Kunal Sandeep (Left) and Abhijit SalvekarBengaluru: Polymerize, a Singapore-based software-as-a-service (SaaS) startup, has raised $4.2 million in a funding round led by Elevation Capital. The round also saw participation from existing investor InfoEdge Ventures. Polymerize plans to use the new funds to ramp up hiring and expand its footprint across India, Japan and the US. The company has so far acquired customers across three markets -- Japan, Singapore and India. It will focus on companies across…