Pune Angels to help startups raise funds
Despite having a large number of startups in Pune, these companies have to go to other cities like Mumbai, Bangaluru, Delhi, to raise funds. This given the fact that Pune has an active angel investor community. To bridge this gap between startups and funds, Sandeep Saxena a serial entrepreneur himself with decades of experience in the startup ecosystem has launched Pune Angels that will help both startup founders looking for funds as well as angel investors looking to invest. Says he, “We have 20 marquee investors who have pledged to invest a minimum of ₹20 lakh per annum, and we intend to grow this number to at least 200 in the months to come.” Translated, it means that Pune start-ups can now access these funds that Pune Angels offers without having to go out of the city.
‘Home grown credit rating agencies need of the hour’
At an event Global Capital Flow and Risk in a Changing World, organised by Care Edge Ratings in Pune, Amitabh Kant, G20 Sherpa and Former CEO of Niti Aayog, Government of India, said, “Sovereign ratings impact global capital flow, which makes it necessary to have home grown credit ratings agencies that is a very critical issue that impacts not only in India, but the entire emerging economies.” Addressing the keynote in the conference, Kant said that for India to be a developed country by 2047, it’s very important that we the appropriate credit rating and called out global credit rating agencies for biases, lack of transparency for not objectively assessing India’s strong economic fundamentals.
OLX ventures into real estate
Graduating from old furniture to homes OLX that got popular with its online app where one could buy and sell any household item, has now ventured into real estate. OLX will now also feature real estate, by showcasing new property launches from prominent real estate developers in major cities including Pune. With a user base of 35 million monthly active users, this expansion will provide their users access to a wide array of brand-new commercial and residential properties from top real estate developers, said OLX in a statement. Pune is the third largest residential real estate market among the top seven cities in India, accounting for 19% of the area sold in FY2023 and is expected to maintain its share at a similar level in FY2024.
Streetwear goes premier with Underrated Club
Pune-based KingsCraft has introduced a premier streetwear fashion line in Indian market – Underrated Club. Bootstrapped with investin ₹8 crore, Underrated Club targets ₹200 crore revenue in the next three years. Headquartered in Pune, Underrated Club is set to elevate the e-commerce and retail sectors by offering a distinctive blend of individuality, creativity, and authenticity to Indian consumers.
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