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Startup Odisha ropes in SIDBI for managing Funds: Dr. Omkar Rai, Executive Director, Startup Odisha

By Viestories
New Update

The Startup and innovation culture is spurring in Tier II &Tier III cities in Odisha

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Startup Odisha ropes in SIDBI for managing Funds: Dr. Omkar Rai, Executive Director, Startup Odisha

As part of bringing best practices and standards to the Startup Ecosystem in Odisha and for the effective management of its funds, Startup Odisha has roped in the Small Industries Development Bank of India (SIDBI) for managing the Odisha Startup Growth Fund (OSGF), said Dr. Omkar Rai, Executive Chairman, Startup Odisha, at the opening session of 30th Convergence India Expo in New Delhi on Monday.

The SIDBI will also bring its own fund for supporting the startup ecosystem in Odisha, said Dr. Rai who shared the dais with Aastha Grover, Head Startup India and Entrepreneur and Actor Gul Panag at the opening session titled “Creating a Vibrant Ecosystem for Innovation.” The Odisha Startup Growth Fund (OSGF) was initially started with Rs 250 Crore commitment from Odisha Government and has grown up to Rs 1000 Crore.

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“We have roped in SIDBI for managing our fund. They will also bring their own fund. In the next 5-10 years, Odisha will be ready with a lot of funds for startups. I call upon the startup ecosystem players from across the nation to look towards Odisha for access to funds, access to markets, and for the best support system,” said Dr. Omkar Rai.

Further, Dr. Omkar Rai said that Startup Odisha is sensitizing the High Net-worth Individuals (HNIs) across Odisha to come together, form a strong network, and foster an angel investing culture in the State of Odisha so that much-needed angel investing infrastructure and support mechanism can be provided to the startups.

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He emphasized upon the need to take the startup ecosystem to the grassroots level in Tier II and Tier III cities and inculcate a culture of innovation and ideation. He said that in the coming days in Odisha, more and more startups would be coming from Tier II & Tier III cities and some of these would be Unicorns.

“In Odisha, we are reaching out to the young boys and girls in Tier II, tier III cities and in the rural areas and taking the ecosystem to the grassroots levels. The kind of innovation and the fundamental idea that is coming from Tier II & Tier III cities are not even coming from Tier I cities because young boys and girls who are witnessing/facing various problems in tier II & III cities are coming up with viable solutions. That is how the startup ecosystem must emerge and grow,” said Dr. Rai.

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“As far as ideation is concerned if one gets the right kind of sensitization and good connect, the culture of innovation and ideation is inculcated,” he added. We are planning to open Incubators in each district, and in every educational institution, and trying to take the ecosystem at the grassroots level, said Dr. Rai.

“The startup ecosystem is not only growing in terms of numbers but also in terms of funding. Unicorns have grown from a handful to a strong 107 and also the incubators supporting startups have grown immensely,” said Aastha Grover, Head, of Startup India.

About Startup Odisha

With the creation of the Odisha Startup Policy-2016, the government of Odisha established Startup Odisha under the MSME Department as the Nodal agency for creating the startup and innovation ecosystem in the state. The goal was to create a comprehensive and welcoming ecosystem for both established and future companies, to become one of the top startup centers in the nation, and to empower the young of Odisha to become job-creators and aid the state in creating jobs.

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Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)

Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.

By Viestories
New Update
Weekly Startups Funding News Report For Monday, 17 June 2024 to Saturday, 22 June 2024
Weekly Startups Funding Report

Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get all Indian statups news at Viestoires.

Weekly Startups Funding News [25 October 2024 - 29 October 2024]

Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding

Homversity Funding News - Homversity has Secured $1 Million in Pre-Series A Round Funding

Stellaris Venture Partners Funding News - Stellaris Venture Partners has closed its third Fund at $300 Million

CADRE ODR Funding News - CADRE ODR has Secured $200,000 in Strategic Funding

Ladies Who Lead Funding News - Ladies Who Lead has Secured $1 Million in Pre-Series A Round Funding

Nazara Technologies Funding News - Mumbai-based Nazara Technologies has Secured Rs 855 crore in Funding

ParkMate Funding News - ParkMate has Secured $1.2 Million in Pre-Series A Round Funding

Univest Funding News - Univest To Secured $16 Million in Funding

Arihant Foundations & Housing Funding News - Arihant Foundations & Housing Limited has Raised Rs 109 Cr in Funding

Alt Mobility Funding News - Alt Mobility has Raised $10 Million in Series A Round Funding

ShopDeck Funding News - ShopDeck has Raised $8 Million in Series B Round Funding

BitSave Funding News - BitSave has raised Undisclosed Amount in Pre-Series A Round Funding

True Diamond Funding News - True Diamond has Secured $1 Million in Seed Funding

Ikin Global Funding News - Ikin Global has Secured $1 Million in Pre-Series A Round Funding

All Things Baby Funding News - All Things Baby has Raised INR 30 Cr in Funding

OneCard Funding News - OneCard To Secures INR 239.4 Cr From Peak XV Others

Solarworld Energy Funding News - Solarworld Energy Solutions Secured Rs 110 cr in Pre-IPO Placement

Biomaterials Funding News - Biomaterials startup Ukhi has Raised $1.2 Million in Pre-Seed Funding

Beyond Appliances Funding News - Beyond Appliances has Secured $2 Million in Seed Funding

Elchemy Funding News - Elchemy has Secured $5.6 Million in New Funding

18 Oct. to 23 October 2024 Funding News

Zepto  Funding News - Zepto has Secured Another $350 Mn From Domestic Investors

KGeN Funding News - Decentralized gaming network KGeN has Secured $10 Million in Funding

Zopper Funding News - Zopper has Raised $25 Mn in Series D round Funding

CredFlow Funding News  - CredFlow raises $3.7 Million in Pre-Series B Round Funding

Order For Health Funding News - Order For Health Secures INR 1 Crore in Seed Series Round Funding

OneCell DiagnosticsFunding News - OneCell Diagnostics has Secured $16 Million in Series A Round Funding

Abyom Funding News - Abyom has Secured $2.5 Mn in the First Tranche of $5.4 M Seed Funding

Locad Funding News - Locad has Secured $9 Million in a Pre-Series B Round Funding

Doodhvale Farms Funding News - Doodhvale Farms has Secured $3 Million in Funding

Taqtics Funding News - SaaS Platform Taqtics has Secured $1.2 Million in Seed Funding

Baanhem Ventures Funding News - Baanhem Ventures has Secured Rs 3.3 crore Fresh in Funding

Indic Wisdom Funding News - Indic Wisdom Secures $2 Million in Pre-Series A Round Funding

PeLocal Funding News - Fintech startup PeLocal Secures $2 Million in Seed Funding

Proost Beer Funding News - Proost Beer Secures INR 30 Cr in Series A Round Funding

Theranautilus Funding News - Deeptech Startup Theranautilus Secures 1.2 million in Seed Funding

Swish Funding News - 10-minute food-delivery Startup Swish Secures $2 Million

HealthKart Funding News - Omnichannel nutrition platform HealthKart Secures $153 Million in Funding

Matrix Geo Solutions  Funding News - Matrix Geo Solutions Secures Nearly $1 Million in a pre-IPO Funding

Adani Green Energy  Funding News - Adani Green Energy plans to raises $2 billion through bonds and loans

VoloFin Funding News - Supply Chain Fintech VoloFin Raises $50Million in Funding

11 Oct. to 16 October 2024 Funding News

LegalKart  Funding News - LegalKart Secures Rs 6.5 Cr in Fresh Round Funding

Airbound Funding News - Drone Startup Airbound Receives Funding from Lightspeed

SarvaGram Funding News - SarvaGram Secures Rs 565 Crore in a Series D Round Funding

Pavestone Technology Funding News - Pavestone VC Closes its Pavestone Technology Fund at INR 816 Cr

Mushin Innovative Funding News - Mushin Innovative Labs raises $250K in Seed Series Round led by Inflection Point Ventures

ePlane Funding News - The ePlane Company Raises $14 Million in Series B Round Funding

Pikndel Funding News - Pikndel Raises $1 Million in Seed Round Funding

Ennoventure Funding News - AI SaaS startup Ennoventure has raised $8.9 million from Tanglin Venture Partners

BlackBuck Funding News - BlackBuck Secures INR 501 Crore from Anchor Investors

Vedantu Funding News - Vedantu Secures $2.3 Mn Debt and Equity Capital Funding from Stride Ventures

Curefoods Funding News - Curefoods Raises $9.6 Mn Funding Led by Binny and Jitender Kumar Bansal

Qure.ai Funding News - Qure.ai Secures $65M Series D Funding Round Led by Lightspeed and 360One Asset

HomeLane Funding News - HomeLane to Acquire Design Cafe and Raises Rs 225 Cr Funding

Seekho Funding News - Seekho to Raises $8-10 Mn Funding from Lightspeed and Elevation

Care.fi Funding News - Fintech Startup Care.fi Raises Rs 8 Cr in Debt Funding Round

12 September 2024 - Funding News

Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.

GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.

Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.

Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.

Omnivore Funding News - Omnivore’s third fund, the Omnivore Agritech and Climate Sustainability Fund, received $5 million in investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) Group.

Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.

Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.

11 September 2024 - Funding News

Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.

Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).

InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.

Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.

 Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).

10 September 2024 - Funding News

Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.

Nestasia Funding News - Nestasia, a lifestyle and home décor brand, secured $8.35 million in a new funding round from Susquehanna Asia VC, Stellaris Venture Partners, and angel investors.

Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.

AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.

Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.

9 September 2024 - Funding News

Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.

5 September 2024 - Funding News

Nautical Wings Funding News - Nautical Wings Aerospace Raises Pre-Series A Funding

Rapido Funding News - Rapido Secures $200 Mn Funding Round from WestBridge

4 September 2024 - Funding News

Sunsure Energy Funding News - Sunsure Energy Secures Rs 226 Cr Long Term Debt Funding

Spolto Funding News - Sports-tech Startup Spolto Secures $1 Mn in Seed Funding Round

Valyx  Funding News - Valyx Raises $800K Pre-Seed Funding Round Led by Huddle Ventures and Waveform Ventures

3 September 2024 - Funding News

Mytek Innovations Funding News - Infratech Startup Mytek Innovations Secures Rs 6 Cr Debt in Funding

Plan B Funding News - Kids Innerwear Brand Plan B Secures Funding from JIIF, Others

Theater Funding News - Theater Secures $1.5 Mn Pre-Series A Funding Round

2 September 2024 Monday - Latest Funding News in India

Mintifi Funding News - Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.

Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

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