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The Reserve Bank today permitted startups to raise external commercial borrowings (ECBs) of up to $3 million in a financial year, a move aimed at boosting innovation and promoting job creation. “The borrowing should be denominated in any freely convertible currency or in Indian Rupees (INR) or a combination thereof.

Data compiled by Fintrackr shows that more than 80 startups announced fresh fundraises worth around $461 million in July. This counts 11 growth stage deals worth $280.5 million and 72 earlystage startups raising over $180 million including 16 undisclosed deals. This is the lowest amount of fundraise on a monthly basis since January 2021 or in the past 30 months.

The event is expected to be a dynamic platform fostering ideas, innovators, and Startups by providing them an ecosystem to interact, network, and collaborate with industry, government bodies, and investors making it an ultimate hub of entrepreneurial excellence.

The policy has established criteria to define deep tech startups, considering factors like maturity levels, sector applicability, time frames, geographical boundaries, and contextual relevance. As per the policy, a deep tech startup is characterized by its utilization of earlystage technologies derived from scientific or engineering breakthroughs, which have not been deployed for commercial purposes yet.

Early stage startups The Fuel Delivery, Nexxio raise funding Credit: 123RF.com Homegrown doorstep diesel delivery startup The Fuel Delivery and software as a service firm Nexxio have raised early stage funding, the companies said on Tuesday. The Fuel Delivery has raised $2 million (around Rs 16.4 crore) in its preSeries A funding round from Singapore s Drake Trade and Investment.

Binny Checks Out; Walmart Stake in Flipkart Hits 80% Walmart s shareholding in Flipkart is likely to rise to around 80%, strengthening its ownership of the Indian ecommerce firm, as cofounder Binny Bansal and other minority investors sell more shares to the Bentonville, USbased retailer, according to regulatory filings in Singapore, accessed by ET Binny Checks Out; Walmart Stake in Flipkart Hits 80% Walmart s shareholding in Flipkart is likely to rise to around 80%, strengthening its ownership of the Indian ecommerce firm, as cofounder Binny Bansal and other minority investors sell more shares to the Bentonville, USbased retailer, according to regulatory filings in Singapore, accessed by ET(Startups).

First came the money, now come the questions. Funds may have poured into Indian startups during the pandemic years, but questions surrounding corporate governance have now taken centre stage at several newage companies, as well as at the funds that pumped money into them. This comes after concerns around corporate governance have come up at Byju s, Mojocare, GoMechanic and many more.

After a dull first half of the year that was riddled with challenges on various fronts, the advertising and marketing industry is now looking at the second half with renewed hope and determination. One of the primary reasons for this optimism is the upcoming festive season, which traditionally has seen a surge in consumer spending and marketing activities.

AWS India and venture capital firm Accel on Monday announced a sixweek accelerator programme exclusively for startups engaged in building generative AI solutions The program, called ML Elevate, aims to support generative AI startups by providing them access to AI models and tools, mentoring and networking opportunities, and up to $200,000 in AWS credits , aside from other curated resources.

In a recent study titled Generative AI Startup Landscape in India: A 2023 Perspective conducted by the NASSCOM, it was found that generative AI businesses in India have garnered a total of more than US$475 million in private investments during January 2021 and May 2023.