Author: preethy

India-US Space Collaboration Boosts Tamil Nadu’s Space Tech EcosystemIn a landmark development for India’s space technology sector, seven Indian private companies have been chosen to participate in a first-of-its-kind India-US space and defense collaboration program. The initiative, launched under the India-US Defense Acceleration Ecosystem, marks a significant milestone for Tamil Nadu’s burgeoning space tech startup ecosystem, offering unprecedented access to the world’s largest defense and space market.The selected companies, including space imaging pioneer KaleidEO and innovative rocket manufacturers EtherealX and Aadyah Space, will collaborate directly with the US Defense Innovation Unit (DIU), the Department of Defense, and other key government…

Arthan Finance Secures Rs 50 Crore in Series B Funding to Empower Micro EntrepreneursArthan Finance, a leading NBFC focused on empowering self-employed nano and micro entrepreneurs, has secured Rs 50 crore in Series B funding from Incofin India Progress Fund and the Michael & Susan Dell Foundation. This investment marks a significant milestone in the company’s mission to revolutionize lending services for small-scale businesses through technology-driven solutions.The funding comes at a crucial time when India’s microfinance sector is experiencing rapid digital transformation. Arthan Finance has already demonstrated impressive growth, having disbursed over Rs 500 crore to more than 20,000 borrowers…

Tamil Nadu’s Rise as India’s Defense Manufacturing HubIn a testament to India’s growing defense manufacturing prowess, Tamil Nadu has emerged as a crucial hub in the nation’s ambitious Make in India initiative, with local startups collaborating with Public Sector Units (PSUs) to drive unprecedented growth in the sector. The state’s defense industrial corridor has become a model for the successful integration of private innovation with public sector expertise.The transformation is particularly striking in the context of India’s recent defense export milestone of ₹21,083 crore in FY 2023-24, marking a dramatic 32.5% growth over the previous year. Tamil Nadu’s contribution to…

Tech Industry’s Budget 2025 Wishlist: Focus on Deeptech Fund and Startup BenefitsAs the Union Budget 2025-26 approaches, India’s leading IT industry body NASSCOM has presented a comprehensive wishlist focusing on strengthening the country’s tech ecosystem, with potential significant implications for Tamil Nadu’s burgeoning startup landscape.Finance Minister Nirmala Sitharaman is scheduled to present the budget on February 1, 2025, amidst global economic uncertainties and evolving US trade policies that could impact India’s $250 billion IT export industry.In a move that could particularly benefit Tamil Nadu’s growing deeptech sector, NASSCOM has proposed the creation of a dedicated central deeptech fund. This initiative…

Tamil Nadu Defense Startups Join Elite US Market Entry Program, Marking Major MilestoneIn a significant development for Tamil Nadu’s growing defense technology ecosystem, eight Indian startups, including several from the state, have been chosen for the inaugural India to America (I2A) Launchpad programme. This initiative marks a strategic push to help Indian defense and space companies penetrate the US market and collaborate with the United States Department of Defense and Defense Innovation Unit (DIU).The four-month program, orchestrated by Indian investor Indusbridge Ventures and US-based FedTech, kicked off last week in Mumbai with face-to-face interactions between startups and program advisors. The…

In a significant milestone for the Tamil Nadu startup ecosystem, ArisInfra Solutions Ltd has successfully secured Rs 80 crore in a pre-IPO funding round, signaling strong investor confidence in the company’s growth potential. The funding round, announced on January 17, 2024, saw participation from prominent investors including Cognizant Capital Dynamic Opportunities Fund, JVS Holdings LLP, and Lamha Enterprise LLP.The Mumbai-based technology-driven construction material provider strategically placed 36,03,792 equity shares at Rs 222 per share, demonstrating robust investor interest in its business model and future prospects. This pre-IPO funding comes on the heels of the company’s draft prospectus filed with the…

Bengaluru-based stock broking platform Groww is in advanced discussions with investment banks for a landmark initial public offering (IPO) that could value the company at $6-8 billion, marking a significant milestone for India’s rapidly evolving fintech landscape. Sources close to the matter reveal that the company is targeting to file IPO papers with market regulators by April, with plans to list by the end of 2024. The proposed IPO represents a dramatic leap from Groww’s 2021 valuation of $3 billion, underscoring the startup’s remarkable growth trajectory in the competitive wealthtech ecosystem. If successful, Groww will become the first major player…

Amazon Web Services (AWS) has unveiled a landmark $8.3 billion investment in Cloud infrastructure for Maharashtra, signaling a major technological and economic milestone for India. The investment, formalized through a memorandum of understanding (MoU) signed at the World Economic Forum summit in Davos, Switzerland, is set to create over 81,300 full-time jobs annually and contribute $15.3 billion to the country’s gross domestic product (GDP) by 2030.This strategic investment represents a continuation of AWS’s commitment to India’s digital transformation, building upon its previous $3.7 billion infrastructure investment in Maharashtra between 2016 and 2022. The plan is part of AWS’s broader $12.7…

In a significant boost to Tamil Nadu’s entrepreneurial landscape, Vijay TV is set to premiere Startup Singam, the state’s first startup-focused reality show, on January 26, 2025. Modeled after the globally acclaimed Shark Tank format, the show promises to bridge the gap between innovative entrepreneurs and potential investors, bringing the startup ecosystem into mainstream television.The inaugural season has already generated substantial excitement, receiving over 1,500 applications for just 50 finalist positions. These selected entrepreneurs will have the opportunity to pitch their innovative business ideas to experienced investors, potentially securing crucial funding and mentorship.Startup Singam will air 13 episodes, broadcast every…

The India Energy Storage Alliance (IESA) is set to inject $500 million into the Indian battery and mobility startup ecosystem within a year, with a strategic focus on driving technological innovation and sustainable mobility solutions. This substantial investment targets advanced energy storage technologies, electric vehicle infrastructure, and breakthrough research in Battery Management Systems (BMS), safety management, and component manufacturing. The initiative comes on the heels of the Bharat Battery Show, part of the Bharat Mobility Global Expo 2025, which attracted over 30,000 visitors.”We will attract over $500 million in investments, enabling startups to drive groundbreaking innovations in battery technology and…