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This funding will enable Kiwi to further expand its ‘credit cards on UPI’ offerings in India.

Fintech startup Kiwi raises $13mn in Series A led by Omidyar

Second big funding announcement for today, we are so back!

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Second big funding announcement for today, we are so back!- Grapevine

- Deals over $100 million making a comeback in Indian startup ecosystem after 18-month drought
- Many large rounds in 2024 feature significant secondary component alongside primary capital
- Secondary sales allow early backers to exit, offer better blended price for incoming investors
- Companies like Rebel Foods, Purplle, Meesho seeing 50-70% of rounds in secondary transactions
- Trend reflects maturing ecosystem, with investors seeking exits and startups nearing profitability 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/funding-is-back-with-a-catch-secondary-share-sales-fuel-100-million-rounds-in-indian-startups-12807483.html)

Large Funding Rounds Return to Indian Startups, with Increased Focus on Secondary Sales

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Lots of new VC funds coming up + existing funds raising lots of capital

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- Fei-Fei Li, known as the Godmother of AI, has secured $230 million for her startup, World Labs.
- The funding comes from major backers like Andreessen Horowitz, NEA, and Radical Ventures.
- World Labs is now valued at over $1 billion, with the capital raised in two rounds.
- The company aims to launch its first product in 2025, focusing on AI models for the 3D world.
- Potential customers include game companies and movie studios, according to Andreessen Horowitz. 

 Source: [Techcrunch](https://techcrunch.com/2024/09/13/fei-fei-lis-world-labs-comes-out-of-stealth-with-230m-in-funding/)

Fei-Fei Li’s World Labs comes out of stealth with $230M in funding

- Investors are making an unprecedented bet on OpenAI, valuing the company at $150bn.
- Thrive Capital has already invested at least $1bn, with Apple, Nvidia, and Microsoft in talks to join.
- Despite the scale, some top investors like Andreessen Horowitz and Sequoia Capital are sitting out.
- OpenAI's revenues have surged to $3.6bn annually, but it still burns through over $5bn a year.
- The company faces fierce competition from Google and Meta, and must manage its transition from a start-up to a corporate giant. 

 Source: [Financial Times](https://www.ft.com/content/a8f9bd05-0999-415d-af86-c73e79ad5733)

Investors Bet Big on OpenAI's $6bn Funding Round

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So Zepto was the first, InCred becomes the second one. 2 unicorns this entire year 🙀

InCred becomes 2nd unicorn of 2023 after raising $60 Mn in a new round. At $1.03 Bn valuation.

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We are so back

I think Sam couldn't clear the DSA round at Microsoft

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Budget 2024 scrapped the angel tax for all investors, creating the ultimate playground for innovation and entrepreneurship in India.

Big news for Indian startups!

- NowPurchase, a marketplace for metal manufacturers, raised $6 million in equity and debt led by Info Edge Ventures.
- Investors include Orios Ventures Partners, 100 Unicorns, VC Grid, and notable family offices and angel investors.
- Total funds raised by NowPurchase now stand at $10 million, aimed at expansion and new solutions.
- Funds will support scrap processing centers, private labels, and AI integration in MetalCloud.
- Founded in 2017, NowPurchase serves over 250 factories with its MetalCloud platform and real-time WhatsApp bot. 

 Source: [Entrackr](https://entrackr.com/2024/09/nowpurchase-raises-6-mn-led-by-info-edge-ventures-others/)

NowPurchase raises $6 Mn led by Info Edge Ventures, others

- The Hosteller has raised Rs 32 crore ($4 million) in its Series A round led by V Cube Ventures.
- The funding round saw participation from Lets Venture Angel Fund, Angelist, and other investors.
- The funds will be used for hostel expansion, marketing, and general purposes.
- This is the first funding round for the company in three years, following a $1 million seed round in 2021.
- The Hosteller plans to add 75 new properties this year, competing with goSTOPS, Wudstay, and Backpackers Panda. 

 Source: [Entrackr](https://entrackr.com/2024/09/exclusive-the-hosteller-kicks-off-series-a-round/)

The Hosteller Secures $4 Million in Series A Funding

- OpenAI, the creator of ChatGPT, has raised $6.6 billion in a funding round led by Thrive Capital, increasing its valuation to $157 billion.
- The funding will be used to expand AI research, increase compute capacity, and develop tools to solve complex problems.
- OpenAI has reportedly spent around $7 billion on model training and $1.5 billion on staffing.
- The company's revenue is projected to reach $100 billion by 2029, but it faces stiff competition from other AI startups.
- OpenAI is considering a shift from nonprofit to for-profit governance to attract more investments.

Source: [Techcrunch](https://techcrunch.com/2024/10/02/openai-raises-6-6b-and-is-now-valued-at-157b/)

Second big funding announcement for today, we are so back!

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