1947 Rise☀️: 206
SaaS || Neobanks & more!
1. The Rise of SaaS in India
Software-as-a-service continues to accelerate around the globe as industries and businesses shift toward cloud-based environments. With digitization increasing year-over-year due to an increasingly hybrid world, SaaS startups founded in India have seen significant growth in recent years. Projected to be valued at $50 billion by 2030, India’s SaaS market has reached a critical inflection point as venture dollars deployed in the region reached $4.8 billion in 2021.
An excellent report put together by Bessemer Venture Partners. They cover the following key points:
The Rise of SaaS in India
India SaaS — why now?
Signals of traction in the India SaaS market
Insights and observations of India-based startups
Evaluating India SaaS businesses
India SaaS predictions
2. India registered 72,993 startups that created 7.68 lakh jobs in past six years
The 72,993 startups registered in India over the past six years generated about 7.68 lakh jobs over this period, the government informed Parliament on Wednesday.
Maharashtra pipped Delhi and Karnataka — touted as the startup capitals of India — to claim the top spot in terms of the number of startups created and subsequent employment generated over the past six years, according to the government’s data.
The data covers the period since January 2016, when the government launched its Startup India initiative.
Karnataka and Delhi were a distant second and third. The southern state registered 8,881 startups and 1.03 lakh jobs, while the national capital registered 8,636 startups and 87,643 jobs.
Worth your attention:
Neobank Fi Raises $45 Mn From Alpha Wave Ventures In Ongoing Series C Round Link
Neobanking startup Niyo raises $30M from Multiples Alternate Asset Management Link
India’s Unicorn Club: Here’s The Comprehensive List Of 100+ Unicorns In India Link
Eka Care, a startup helping digitize health records of Indian patients, raises $15 million Link
Healthtech startup Fitterfly raises $12M in Series A round Link
UpGrad acquires online learning platform Harappa Education for Rs 300 crore Link
Zomato tanks 14% wiping out ₹1,000 crore investor wealth — here’s what is happening Link
Creative Galileo raises $7.5 million in funding from Kalaari, others Link