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Karnataka Government To ‘Elevate’ 100 Startups
The Karnataka Government in an effort to boost the startup ecosystem has launched the “Elevate Program” to identify 100 of the most innovative startups in Karnataka, to elevate to them to next level of success.
The program will spend Rs. 400 crore to ‘elevate’ the selected startups by providing them funds and mentors to help them turn their ideas into successful businesses. Karnataka’s IT and BT Minister, Priyank Kharge unveiled the program along with the official website and logo for the flagship initiative on Wednesday.
The scheme is the brainchild of the startup cell, Karnataka Biotechnology and Information Technology Services (KBITS) and will help identify startups working in the field of IT, Electronic System Design Manufacturing, Animation Visual Gaming & Comics, Biotechnology, Pharmaceuticals, Agriculture, and Life Sciences.
Startups under this program will also be provided with access to idea validation, incubation facilities and in depth sessions for startups on accounting, legal and emerging technologies.
Speaking at the launch, the IT Minister said through Elevate they will provide startups with technical and business support based on their need along with funding. Till date, the startup cell has identified 46 startups and sanctioned ₹ 15.68 crores in the field of biotech, tourism and IT.
Startups from Mangaluru, Kalaburgi, Mysuru and Hubli will get the opportunity to pitch their ideas to the Elevate team in open houses that will be held by the State Government. Registration began on 4 July 2017 and will be open until 18 July 2017, for all participants across Karnataka.
Chief Minister Siddaramaiah said Elevate is one of the highlights of the work that we are doing to boost trade and business in Karnataka and the Government is happy to be inaugurating the program.
According to the IT Minister, venture capitalists have also been brought on board to help curate and fund startups, although at the initial stages the government will fund the startups to bring them to a point where it is investible for the VCs.
This program has been launched in partnership with the Deshpande Foundation, The Indus Entrepreneurs and others to empower startups and scale operations. The Government of Karnataka has taken tremendous steps to encourage the startup ecosystem. They announced a $ 1.4 million fund for women entrepreneurs in March this year. IT Minister Priyank Kharge has also allocated a $ 1.65 million fund for agritech startups in May and later announced a fund of $ 1.65 million for 26 selected startups in the biotechnology sector.
Rozana, India’s leading rural retail platform, has secured ₹290 crore ($35 million) in a Series B funding round led by Bertelsmann India Investments (BII), with participation from Omidyar Network India, Vivid Capital, and Tana Investment Holding. This Rozana funding brings its total capital to over ₹500 crore, fueling hyperlocal expansion in underserved rural markets. Founded in 2021 by brothers Prashant and Prateek Chauhan, the startup’s phygital model blends micro-stores, app-based ordering, and last-mile delivery to connect 5 million+ users in 12 states with brands like ITC and HUL.
The ₹290 crore investment will supercharge Rozana’s rural omnichannel retail strategy, targeting 5x growth in 18 months. Plans include adding 5,000 micro-stores in Uttar Pradesh, Bihar, and Rajasthan; AI-powered inventory tech; and new categories like groceries and electronics. By empowering 20,000+ rural micro-entrepreneurs, Rozana taps into India’s $700 billion rural retail boom, where smartphone penetration and UPI drive 12% annual growth.
This Rozana Series B milestone positions it as a frontrunner against rivals like Ninjacart, eyeing unicorn status by 2028 amid ONDC tailwinds. CEO Prashant Chauhan emphasized, “We’re building rural prosperity through accessible premium brands.” For more on Rozana funding news and rural retail trends, stay updated on India’s startup ecosystem.
Peak XV Partners has launched three new funds totaling $1.3 billion, targeting India’s booming startup ecosystem. The lineup features the $600M Surge fund (8th edition) for early-stage ventures, a $300M Growth Fund for Series B+ scaling, and a $400M Acceleration Fund for rapid portfolio expansion. This commitment arrives as India’s VC inflows rebound, with AI and fintech leading 2026 trends.
These funds build on Peak XV’s legacy of backing unicorns like Zomato and Pine Labs, offering founders capital plus strategic guidance amid post-winter recovery. Early-stage deals surged 20% last year per Tracxn, positioning Peak XV to fuel the next wave of innovation in SaaS, climate tech, and consumer plays.
For startups eyeing Peak XV new funds or Surge fund 2026 applications, this signals prime opportunities. Investors and marketers should watch for deployment updates India remains a global VC hotspot.
Hyderabad, January 13, 2026 Neeman’s, India’s leading D2C footwear brand famed for sustainable shoes and patented PIXLL® technology, has raised $4 million from existing investors. This funding boosts its cumulative capital past $10 million since 2015, with a post-money valuation nearing $50 million. CEO Vijay Chahoria emphasized offline retail as the “next frontier,” planning 50+ new stores in Tier 2/3 cities like Jaipur and Lucknow to blend eco-friendly innovation with hands-on customer experiences.
In India’s booming D2C ecosystem where footwear sales hit ₹1.2 lakh crore in 2025 Neeman’s targets hybrid retail amid high online CAC and 25-30% returns. Backed by vegan, machine-washable shoes priced ₹2,000-4,000, the brand leverages PIXLL® (5x more breathable than leather) for carbon-neutral comfort. Recent 5x revenue growth to ₹100 crore ARR, 1M+ pairs sold via Myntra and stores, and awards at India D2C Summit 2025 position it ahead of rivals like Paaduks.
Neeman’s offline expansion India eyes the $15B sustainable footwear market by 2028, fueled by PLI schemes, Gen Z’s 70% eco-preference (Nielsen), and Southeast Asia exports. Challenges like real estate costs are offset by data-driven inventory and omnichannel QR tech. Watch for Q1 2026 launches in Hyderabad and Bengaluru redefining D2C success through authentic, “Wear the Change” branding.
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