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75 Startups Receive Support From DIPP’s Funds Of Funds

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75 Startups Receive Support From DIPP Funds Of Funds,Startup Stories,Inspirational Stories 2017,Department of Industrial Policy and Promotion,75 Indian startups,Startup Stories India 2017,Nirmala Sitharaman Launch Startup India Virtual Hub,Union Budget for 2017-2018,Finance Minister Arun Jaitley Latest News,DIPP Extends Funding to 75 Startups

The Department of Industrial Policy and Promotion (DIPP,) of India have extended financial support to 75 Indian startups from 17 Alternate Investment Funds under the Funds of Funds initiative. This support is also open for the India Israel Global Innovation Challenge applicants.

The $ 1.5 billion or Rs. 1,000 crores Funds Of Funds Initiative was launched earlier this year to provide funding support for the development and growth of innovation driven startups. The 14th and 15th Finance Commission constituted by the Government of India will raise the funds for the initiative. The objective of the Fund is to provide funding support to the startups. However, Funds of Funds will not invest directly in the selected startups but will participate in the capital invested by SEBI registered venture funds.

The Funds Of Funds for Startups (FFS) was established by the Indian Government in association with the Small Industries Development Bank of India to extend funding support. The initiative would provide support to various Alternative Investment Funds (AIF) registered with the Securities and Exchange Board of India (SEBI.) The FFS corpus has received Rs. 500 crores in 2015 – 2016 and Rs. 600 crores in 2016 – 2017 for dispensation. These startups were identified based on certain criteria listed in line with the Startup India initiative.

So far, DIPP have recognized 4,377 startups out of which 75 will receive extended support from FFS. According to a tweet, over Rs. 300 crores has been invested in startups by the Fund.

One such startup who received financial assistance from the FFS is the financial services company ftcash. The Mumbai based startup seeks to empower micro merchants and small and medium sized enterprises by allowing them to accept digital payments and loans.

DIPP has launched several such initiatives to accelerate the growth of startups in India. Recently, former Commerce Minister, Nirmala Sitharaman, launched the Startup India Virtual Hub, an online platform for all stakeholders of the entrepreneurial ecosystem in India, to discover, connect and engage with each other. In the Union Budget for 2017-2018, Rs. 1 lakh was also allocated to the FFS by the Center. Finance Minister Arun Jaitley also increased the period of profit linked deductions available to the eligible startups to seven years in the current Union Budget.
 

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Funding

Flam Secures $14M Series A to Revolutionize Mixed Reality Marketing with AI

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AI infrastructure startup Flam has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and existing investors, bringing its total funding to $22 million. Founded in 2021, Flam enables brands to create and deliver high-fidelity mixed reality (MR) and generative AI experiences without the need for app downloads, allowing consumers to access immersive content via QR codes or links in under 300 milliseconds.

Flam’s platform is already used by over 100 global brands-including Google, Samsung, and Netflix-reaching more than 380 million users. The new funding will accelerate product innovation, expand operations in North America, Europe, and Asia, and launch a full-stack enterprise suite for MR and GenAI-driven marketing. The company currently has over 120 employees and plans to grow to 180 by the end of 2025, aiming to transform every brand touchpoint into an interactive digital experience.

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Info Edge Delivers 36% Returns on Startup Investments

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Info Edge, the parent of Naukri.com, has achieved a 36% gross internal rate of return (IRR) on its startup investments since 2007, turning a total investment of INR 3,959 crore across 111 startups into a portfolio now valued at INR 36,855 crore-a nearly 9X gain. Early bets on Zomato and Policybazaar have been especially lucrative, with holdings in these two companies alone worth INR 31,500 crore as of March 2025.

The company’s investment strategy spans multiple vehicles, including the SEBI-registered Info Edge Venture Fund (IEVF), Info Edge Capital, and Capital 2B, with a combined fund corpus of INR 3,423 crore and Info Edge committing INR 1,614 crore. Early-stage investments now contribute 30-40% of the company’s overall value.

Info Edge’s Alternative Investment Fund (AIF) investments have yielded an IRR of 18.7%. Many portfolio companies, such as TrueMeds, Geniemode, Attentive.ai, and InPrime, have attracted follow-on funding from major investors like Accel, Peak XV Partners, and Tiger Global. Notably, BlueStone, the largest investment of Info Edge Capital, has filed for an IPO after securing investments from Prosus, Peak XV, and Steadview Capital.

Founder Sanjeev Bikhchandani emphasized the company’s focus on strong governance and financial controls, with a preference for value realization through public listings or strategic exits.

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Phab Raises $2M Seed Funding to Expand Healthy Snacking Brand

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Phab, the D2C healthy snacking brand co-founded by Ankit Chona of ice cream brand Hocco and his wife Gayatri Chona, has raised $2 million (around ₹17 crore) in a seed funding round led by OTP Ventures, with participation from Capri Global, Sim&San law firm, and angel investors.

Founded in 2018, phab offers protein bars and healthy milkshakes, leveraging Ankit’s decade-long food industry experience and Gayatri’s expertise as a certified nutritionist. The brand has sold over 2 million units and sells through e-commerce and quick commerce platforms like Amazon, Flipkart, Zepto, and Blinkit.

Despite a 12% dip in operating revenue to ₹5 crore in FY24, phab trimmed its net loss by nearly 3% to ₹6.8 crore, showing improved efficiency.

The new funds will be used to expand the team, invest in production capacity, and grow phab’s presence across digital, quick commerce, and offline channels. The brand competes with Yoga Bar, Beyond Snack, and The Whole Truth in India’s growing $68 billion healthy snacking market. OTP Ventures’ founding partner Suhail Sameer praised phab’s bold, differentiated approach and the founders’ vision, signaling strong investor confidence in the brand’s growth potential.

 

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