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DIPP Proposes Rs. 2000 Crores Fund For Startups

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DIPP Proposes Fund For Startups,Commerce and Industry Ministry,Department of Industrial Policy and Promotion,Nirmala Sitharaman,Startup India Hub launch, Startup News India,Karnataka Govt Elevate Program

Keeping in mind the difficulties faced by startups in raising funds, the Commerce and Industry Ministry and Department of Industrial Policy and Promotion (DIPP,) have launched a new Rs. 2000 crores credit guarantee scheme for startups.

Nirmala Sitharaman, the Commerce and Industry Minister announced the scheme would provide credit guarantee of up to Rs. 500 lakhs per case, in a written reply in the Lok Sabha. This proposed scheme will also include term loan, working capital or other instruments of assistance. This can be extended to finance an eligible startup recognized by the DIPP to member lending institutions. 

During the Startup India Hub launch, DIPP Secretary Ramesh Abhishek announced the Union Cabinet was expected to approve the $ 300 million (Rs. 2000 crores,) fund for startups by the end of July 2017. A credit guarantee fund was first announced in October 2016 to support startups and their risk taking abilities.

The Startup India, Standup India movement had brought a lot of changes in the startup ecosystem in India. Central and state governments have launched multiple programs for the benefit of startups across the country including tax redemptions and inclusion of foreign investment. Although a $ 1.5 billion ‘Fund of Funds’ scheme had been set up, to date only $ 848,000 (Rs. 5.66 crores) of the $ 1.5 billion fund were actually disbursed.

Minister Nirmala Sitharaman, has also taken multiple steps to ease the process of proliferation and setting up of startups. She has encouraged resolution for online vendor issues with ecommerce players and has recently announced a startup meet across the SAARC nations.

The Modi government has provided a platform for startups in India to raise and compete with the giants of the world. Recently, it was also reported the Commerce and Industry Ministry was also looking to establish a Startup Coast in Karnataka to better facilitate startups in southern India. The Karnataka Government also launched the Elevate program, that would select 100 startups and help them grow.

India, at present, is the third largest startup ecosystem and the fourth fastest growing economy in the world, according to Global Economic Prospects.

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Funding

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

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PHAB

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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Eat Better Secures ₹17 Crore in Pre-Series A Funding

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Eat Better, a Jaipur-based D2C snacking brand, has raised ₹17 crore in a Pre-Series A funding round co-led by Prath Ventures and Spring Marketing Capital. Founded by Vidushi Kanoria, Mridula Kanoria, and Shaurya Kanoria in 2020, Eat Better specializes in healthy snacks like dry fruit ladoos and nuts.

Key Highlights:

  • Investment Use: Funds will expand Eat Better’s product line and enhance its presence on quick commerce platforms.
  • Market Position: Competes with brands like Happilo and Yoga Bar in the healthy snacking space.
  • Operational Milestones: Fulfills over 2 lakh orders monthly.
  • Financial Performance: Revenue grew nearly threefold to ₹14.47 crore in FY24, with a reduced net loss.

Market Opportunity:

The Indian food and beverages market is projected to reach $68 billion by 2030, positioning Eat Better favorably to capitalize on the demand for healthy snacks. With this funding, Eat Better aims to strengthen its market presence and product offerings.

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Outzidr Raises ₹30 Crore to Transform Gen Z Fashion

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Bengaluru-based D2C fashion startup Outzidr, co-founded by Nirmal Jain, Mani Kant Mani, and Justin Mario, has secured ₹30 crore in seed funding led by Stellaris Venture Partners, with participation from angel investors like Ramakant Sharma (Livspace) and Ghazal Alagh (Mamaearth).

Launched in February 2025, Outzidr targets Gen Z women aged 17–27 with affordable occasion-specific apparel such as partywear and travel outfits. The brand introduces over 2,000 new designs monthly and uses a “test-and-react” model to scale popular styles based on early sales data. With an agile inventory cycle of less than three weeks, it plans to shift 90% of manufacturing to India within two years for sustainability.

The funds will bolster supply chain efficiency, technology development, team expansion, and brand-building. Outzidr aims to achieve ₹100 crore annualized revenue within 6–8 months through its D2C platform and marketplaces like Myntra, Nykaa Fashion, and AJIO.

Led by industry veterans with expertise in fashion and logistics, Outzidr is poised to capitalize on India’s growing D2C market fueled by Gen Z’s demand for trendy and affordable fashion.

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