By Market Capitalisation.Net Sales.Net Profit.Total Assets.Excise.Other Income.Raw Materials.Power & Fuel.Employee Cost.PBDIT.Interest.Tax.EPS.Investments.Sundry Debtors.Cash/Bank.Inventory.Debt.Contingent Liabilities. Screen Crit AbrasivesAerospace & DefenceAgricultureAir ConditionersAirlinesAluminium & Aluminium ProductsAmusement Parks/Recreation/ClubAquacultureAuto AncillariesAuto Ancillaries – Air Conditioning PartsAuto Ancillaries – Auto, Truck & Motorcycle PartsAuto Ancillaries – Axle shaftsAuto Ancillaries – BearingsAuto Ancillaries – BrakesAuto Ancillaries – Bus BodyAuto Ancillaries – Castings/ForgingsAuto Ancillaries – ClutchesAuto Ancillaries – Diesel EnginesAuto Ancillaries – Engine PartsAuto Ancillaries – GearsAuto Ancillaries – Head lamps & lightsAuto Ancillaries – OthersAuto Ancillaries – PistonsAuto Ancillaries – Seating covers & partsAuto Ancillaries – Sheet MetalsAuto Ancillaries – Shock absorbersAuto Ancillaries – Spare Parts & AccessoriesAuto Ancillaries – SpringsAuto Ancillaries – Tyres & Rubber ProductsAuto Ancillaries – WheelsAuto AncillaryAutomobile – 2 & 3 WheelersAutomobile – Auto & Truck ManufacturersAutomobile – Dealers & DistributorsAutomobile – LCVS/ HVCSAutomobile – Passenger CarsAutomobile – TractorsAutomobile – Trucks/LCVsBank – PrivateBank – PublicBatteriesBeveragesBiotechnology & Medical ResearchBPO/ITeSBreweries & DistilleriesCable & D2HCablesCarbon BlackCementCement & Construction MaterialsCeramics/Marble/Granite/SanitarywareChemicalsCigarettes/TobaccoCoalCommodity ChemicalsCompressors / PumpsComputer PeripheralsConstruction – InfrastructureConstruction – Real EstateConstruction – Residential & Commercial ComplexesConsumer FoodContainers & PackagingCourier ServicesCyclesDefenceDetergents & SoapsDiamond & JewelleryDiversifiedDiversified ChemicalsDomestic AppliancesDyes & PigmentsEducational InstitutionsElectric EquipmentElectric Equipment – Boilers / TurbinesElectric Equipment – SwitchgearsElectric Equipment – TransformersElectrodes & Electrical EquipmentsElectrodes & Welding EquipmentElectronic GoodsElectronics – ComponentsEngineeringEngineering – ConstructionEngineering – Industrial EquipmentsETFFastenersFerro ManganeseFertilizersFilm Production, Distribution & EntertainmentFinance – HousingFinance – InvestmentFinance – NBFCFinance – OthersFinance – Stock BrokingFinance Term LendingFish/Poultry & Meat ProductsFood & Drug RetailingFood ProcessingFootwearGas DistributionGlass & Glass ProductsGoldGold ETFGround Freight & Logistics ServicesHospital & Healthcare ServicesHotel, Resort & RestaurantsHousehold & Personal ProductsInfrastructureIron & SteelIT – EducationIT – NetworkingIT Services & ConsultingLabs & Life Sciences ServicesLaminates/DecorativesLeatherLeisure ServicesLife & Health InsuranceLogisticsLPGLubricantsMediaMedical Equipment/Supplies/AccessoriesMetals & MiningMetals – Castings/ForgingsMetals – Non FerrousMisc. Commercial ServicesMiscellaneousMultiline Insurance & BrokersOil Exploration and ProductionOnline Servicesother agriculture productsOther Construction MaterialsOthers-Industrial Gases & FuelsOthers-ManufacturingPackaging – FilmsPackaging – Packaging MaterialsPackaging – PolyfilmsPackaging – Sacks and BagsPackaging Materials-Containers & PackagingPackaging Materials-Plastic ProductsPaintsPaper & Forest ProductsPaper & Paper ProductsPesticides & AgrochemicalsPharmaceuticals & DrugsPhotographic ProductsPlastic ProductsPlastic Products – OthersPlastics – Moulded Articles and FurnituresPlastics – Pet Bottels, Jars & ContainersPlastics – Self Adhesive TapesPlastics – ThermoplasticsPlastics – Tubes/Pipes/Hoses & FittingsPortsPower Generation/DistributionPrinting & PublishingPrinting & StationeryPrinting And PublishingRailways WagonsRatingsReal Estate OperationsReal Estate Rental, Development & OperationsRefineriesRefractoriesReinsuranceRenewablesRetailingRubber ProductsShip BuildingShippingSoftwareSolvent ExtractionSpeciality ChemicalsSpeciality RetailersSpecialty Mining & MetalsSugarTea/CoffeeTelecommunication – EquipmentTelecommunication – Service ProviderTelecommunications ServicesTextile – MachineryTextile – SpinningTextilesTextiles & ApparelTradingTransmission Towers / EquipmentsTransport InfrastructureTravel ServicesTV Broadcasting & Software ProductionVegetable Oils & ProductsWatches & AccessoriesWood & Wood Products Screen Code

The Directorate of Education (DoE) has issued a new advisory banning the use of smartphones in Delhi schools. The advisory will apply to both private and government schools of Delhi. Along with this, the Directorate has also asked the teachers and other school staff to refrain from using mobile phones in classrooms, libraries, school labs and playgrounds. “Hence, the use of Mobile Phones definitely needs to be regulated in school premises and therefore all stakeholders connected with school education such as students, parents, teachers and the heads of schools need to arrive at a consensus on the minimum use of mobile phones in their school so that a more meaningful learning atmosphere can be maintained in the classroom,” mentions the advisory issued by DoE.The Directorate of Education has also requested the parents to make sure that their children do not carry mobile phones on the school premises. And in case if students carry mobile phones to school, then the school will have to make adequate arrangements for the safe custody of the device. Read the complete order hereMobile phone is one of the most commonly used gadgets in today’s life irrespective of whether they are students, teachers, professionals or others. Hence, it is imperative for us to reflect on this over dependence on technological interventions which can have both positive and negative repercussion as an overuse of smártphone can result in higher levels on depression, anxiety, social isolation, hyper-activity, hyper-tension, sleep loss and poor eyesight. It can cause distractions in the learning process and can negatively impact academic performance, life satisfaction, face-to-face conversation quality, connection and closeness. Further, the incidents of bullying and harassment, transmission of explicit images photographing, recording or uploading inappropriate contents are also likely negatives that are detrimental to the social fabric as well as future of a child.Hence, the use of Mobile Phones definitely needs to be regulated in school premises and therefore all stakeholders connected with school education such as students, parents, teachers and the heads of schools need to arrive at a consensus on the minimum use of mobile phones in their school so that a more meaningful learning atmosphere can be maintained in the classroom which makes for a better ambience and school environment for the students. Accordingly, the parents are requested to ensure that their wards do not carry mobile phones in the school premises. In case, students bring mobile phones to the school, then the school authorities shall make adequate and appropriate arrangements for safe custody using lockers/ others system etc. where the mobile phones can be deposited and returned to the students while leaving the schools. Mobile phones should strictly not be allowed in the classrooms. Further, teachers and other staff are refrained from using mobiles during the teaching learning activities i.e. in classrooms, playgrounds, laboratories and Library etc.The school authorities may provide sufficient dedicated helpline numbers to the parents/students from where the students can receive and make calls, in emergency.Accordingly, HoS of all Govt. Schools & all the HoS/Manager of Private Unaided /Aided Recognized Schools of Do are hereby advised to disseminate the above information to all the students & parents as well as all the teaching/non-teaching staff working in their schools and take necessary action.

Startups that came into existence after 2015 are becoming unicorns in just 3.5 years, according to Inc42 The ecommerce sector boasts 25 unicorns, with Flipkart (now acquired by Walmart) being the most-valued unicorn at $37.3 Bn. Close on the heels are fintech and enterprise tech sectors, which foster 23 and 22 unicorns, respectively 83% of Indian unicorns that are headquartered outside India are from the enterprise tech sector. Overall, 18% of Indian unicorns are headquartered outside India, with the US being their most preferred destination The world’s third-largest startup economy is going through some of the most precarious times and any respite from the ongoing funding winter seems to be only on the cards. As a result, not even a single startup has emerged to claim the unicorn title so far this year. The state of the funding in the ecosystem is such that in the first seven months of 2023, Indian startups could only raise $5.9 Bn against $19.7 Bn and $21.2 Bn during the same period in 2022 and 2021, respectively. According to data compiled by Inc42, late stage startups raised $3 Bn across 52 deals between January and July 2023, down a staggering 75% from approximately $12 Bn raised in the same period a year ago, and 82% from $16.6 Bn raised between January and July in 2021. Adding to this are the ongoing market corrections and roiling global economies that have only made investors embrace more caution. Companies are now grappling with increased scrutiny of their business models and are being pressed to showcase profitability over pursuing rapid strides. Consequently, once-promising ventures that were destined to become unicorns are today facing limited investment opportunities, while existing unicorns are struggling to sustain their current valuations. Recently, renowned Indian startup names such as OYO, BYJU’S, Swiggy, PharmEasy, PineLabs, Meesho, and Ola saw substantial valuation markdowns on the books of their investors due to their never-ending tryst with losses and cash burn. BYJU’S, which has not reported its FY22 financials, witnessed a nearly 20X YoY increase in its consolidated FY21 loss to INR 4,588 Cr. Similarly, Swiggy’s FY22 consolidated net loss doubled to INR 3,628.9 Cr, and PharmEasy incurred losses to the tune of INR 2,731 Cr in FY22 compared to INR 641 Cr in FY21. Download The Report Nevertheless, India’s position as the ecosystem with the third-highest number of unicorns globally, after the US and China, remains undisputed. The collective valuation of the 110 startups exceeding $1 Bn valuation stands at over $347 Bn+, backed by total funding of $99 Bn. Further, as of April 11, 2023, the homegrown unicorn ecosystem employed more than 4.5 Lakh individuals, according to Inc42’s ‘Decoding India’s Unicorn Club Report 2023’. Now, before we dive deeper into the findings, let’s quickly look at some unique facts from our latest report. Time Taken To Become A Unicorn Has Reduced Significantly: Unlike companies like Fractal, Pine Labs, MapmyIndia and IndiaMART, which took more than 20 years to become unicorns, names like Mensa Brands, GlobalBees and 5ire ended up cherishing the coveted tag within just one year of their inception. Startups Founded Post-2015 Are Becoming Unicorns Faster: Startups that came into existence after 2015 ended up with the fancy unicorn tag in just 3.5 years. Names like Ola Electric, CRED, MPL, and Zetwerk took not more than 3 years to become unicorns. Sectors With The Highest Number Of Unicorns: The country’s ecommerce sector boasts 25 unicorns, with Flipkart (now acquired by Walmart) being the most-valued unicorn at $37.3 Bn. Close on the heels are fintech and enterprise tech sectors, which foster 23 and 22 unicorns, respectively. US Is The Most Preferred Destination For Indian Unicorns: According to the report, 83% of Indian unicorns that are headquartered outside India are from the enterprise tech sector. Overall, 18% of Indian unicorns are headquartered outside India, with the US being their most preferred destination. Most Unicorns Lack Gender Diversity At The Board: Of the 110 unicorns in the country, only two unicorns, Open Bank and Good Glamm Group, have more than one woman cofounders. Investors Are Now Looking Beyond IIT And IIMs: 51.8% of unicorn founders are non-IITians. Download The Report Profitability Still A Distant Dream For Most Unicorns  Out of the total 89 unicorns that disclosed their financials in FY22, only 23 were profitable. This number is slightly lower compared to FY21 when 29 unicorns boasted healthy profits. Over the years, a combination of factors inherent to the startup ecosystem and specific market conditions have propelled unicorns towards aggressive growth strategies, often resulting in cash burn and financial losses. An ever-intensifying competition and rapidly evolving technologies have pushed company founders to prioritise rapid expansion over achieving positive unit economics. Concurrently, the inflow of continuous funding from the investor ecosystem, driven by inflated valuations based on exaggerated total addressable market (TAM) estimates, led founders to bloat their fixed costs, including human resources, manufacturing facilities, and office spaces. Consequently, when the funding stream dwindled, many of these startups found themselves in precarious situations. According to Inc42’s Layoff Tracker, more than 100 startups have laid off 28,000-plus individuals in the past 20 months. Prominent unicorns like BYJU’S, Ola, Unacademy, and Blinkit have been among those resorting to significant workforce reductions. This period has also been marked by controversies, impacting unicorns like PharmEasy, Swiggy, BYJU’S, and BharatPe. It is due to these setbacks, including amplified market volatility, that many startups are deferring their plans to go public. Further, what has cornered Indian startups, including unicorns, on all fronts has been desperate attempts to cut costs by laying off employees and their tryst gone wrong with Indian regulators on multiple occasions, throwing them off the growth path and subjecting them to uncertainties. Is There Light At The End Of The Tunnel? Even though the prevailing funding dry spells pose a severe challenge to Indian startups, these are also acting as a crucible to forge resilience and innovation among companies. In the absence of any major funding support, these startups are expected to

About us | Contact Us | Advertise with Us | Support | Disclaimer | Privacy Policy | Cookie Policy | Terms & Conditions | Careers | Financial Terms (Glossary) | FAQs | Sitemap | RSS Feed Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.

In an interim order, the Karnataka HC said that the June order to pay INR 50 Lakh fine could be stayed till further orders if X (formerly Twitter) deposits INR 25 Lakh with the court In June, a single-judge bench of the HC had quashed the social media platform’s plea challenging a slew of blocking orders issued by the IT Ministry The HC slated the matter for next hearing on August 24 and also allowed the union government to file its objection in the matter A divisional bench of the Karnataka High Court (HC) on Thursday (June 10) reportedly directed X (formerly Twitter) to deposit INR 25 Lakh within a week to stay the earlier INR 50 Lakh penalty imposed on the microblogging platform in June. In June, a single-judge bench of the HC had quashed the social media platform’s plea  challenging a slew of blocking orders issued by the IT Ministry. The court also slapped a fine of INR 50 Lakh on X and directed the company to pay the fine within 45 days, failure to do which would incur an additional fine of INR 5,000 per day. As the deadline loomed, the Elon Musk-led platform approached the divisional bench against the June order. A bench comprising Chief Justice Prasanna Varale and Justice MGS Kamal heard preliminary submissions in the case and passed an interim order, just a week ahead of the deadline for the submission of the fine.  During the proceedings, Twitter’s counsel sought more time to make the deposit but the court refused to entertain the request.  Meanwhile, the HC slated the matter for next hearing on August 24. It also allowed the union government to file its objection in the matter. The HC also permitted the Centre to apply for a vacation of the interim order passed on Thursday if necessary.  In its observation, the divisional bench also noted that the reduced penalty ought not be treated as court’s acceptance that ‘some equity lies in favour of X Corp’. “We further make it clear that permission to deposit part of costs to the tune of INR 25 Lakh may not be treated as acceptance by this court that some equity lies in favour of the appellant (Twitter/ X Corp). This is only on statement made by appellant that to show bonafides, that appellant would deposit a part of costs,” said the order as per Bar and Bench.  The saga pertains to the period before Elon Musk took over the reins of the company. In July 2022, Twitter dragged the central government to the Karnataka HC, seeking to dismiss a volley of content takedown orders issued by the Ministry of Electronics and Information Technology (MeitY) under Section 69A of the IT Act. In its plea, Twitter then alleged that many of the blocking orders related to content posted by political parties’ Twitter handles. During the course of arguments, the union government challenged the locus standi of Twitter’s plea citing the foreign credentials of the latter. The government also contended that only Indian citizens possess the right to challenge fundamental rights to freedom.  Eventually, the HC sided with the government and imposed a penalty of INR 50 Lakh on the microblogging platform. 

Over the past decade, The availability of value-for-money smartphones and smart devices has empowered Indian consumers to engage with the growing digital economy of India over the past decade. While doing so, they have also benefited from the latest technological advancements at affordable price points. According to a study conducted by CyberMedia Research (CMR), the rise of affordable smartphones has, over the past five years, translated to a significant uptick in digital payments (88%), content creation/consumption (80%) and gaming (70%) in India. How different brands have helped this changeAs per the study, Xiaomi has maintained a dominant market presence over the past decade in India. 42% of people involved in the study expressed their satisfaction and preference for its products. For another 27% of those surveyed, Xiaomi was their first-ever smartphone, with Samsung (24%) following a close second. As per the survey, 53% of users were satisfied with Xiaomi smartphones and smart devices. 45% of users also said that Xiaomi was their most loved brand among others. Key highlights of the study Friends and family exert the strongest influence (63%) on users when it comes to buying a smartphone and smart devices. In terms of brand imagery, Samsung is strongly associated with industry leadership (42%), reliability (42%), popularity (42%), long usable life (42%) and feeling great (41%). On the other hand, Xiaomi is strongly associated with feeling great (53%), feeling powerful (46%), reliability (42%), customer centricity (45%), and industry leadership (44%). In smartphone and smart devices, Xiaomi has the highest total awareness (78%) followed by Samsung (75%), However in terms of usage in the last decade, Xiaomi leads (42%) the pack followed by Samsung (36%). Thus, the conversion of awareness of the brand to its usage is maximum in the case of Xiaomi (54%) followed by Samsung (45%). When it comes to smartphone brand awareness, Xiaomi leads in ToM (14%) as well as total recall (79%) closely followed by Samsung (ToM – 13%, Total Recall – 77%). While comparing current primary usage of smartphone brands also, Xiaomi leads (13%) the pack closely followed by Samsung (12%) and Vivo (11%). Users of smartphones and smart devices of Xiaomi and Samsung brands are most satisfied (92%) followed by users of Apple (91%) and Boat (90%). In satisfaction level of smartphones, OnePlus (93%) users are most satisfied followed by Xiaomi (92%) and Apple (91%) users.

Soon after taking over X (formerly X), Elon Musk announced that he wants to make the platform an “everything app.” In line with that vision, the company has brought a number of features, including the ability to read/ post long texts and watch hour long videos. The company is now adding another one: video calls. “Soon you’ll be able to make video chat calls without having to give your phone number to anyone on the platform,” the company CEO Linda Yaccarino said during an interview with CNBC, while talking about other features like creator subscriptions and payments.Her confirmation comes a day after X designer Andrea Conway posted, “just called someone on X,” followed by four head-exploding emoji. At that time, it wasn’t clear what she was referring to: voice calls or video calls or both. What its means for WhatsAppMeta-owned WhatsApp will have a direct competitor as X will allow sharing of videos, payments, DMs, microblogging, support for sharing videos and photos, among others. Meanwhile, Meta recently launched Threads to take on X and has seen a drastic decline in monthly active users after 100 million sign ups within a few days after debut.Yaccarino’s role at XYaccarino also said that she has ‘autonomy’ under Musk and noted that while the SpaceX CEO controls product and development, her role was “everything else” involved in “running the company.”Recently, the company made some changes in the top leadership and the way how the company will work. A report claimed that Musk and Yaccarino will oversee the trust and safety team. While Musk will see X’s product and engineering team and Yaccarino will oversee all other divisions, including human resources, legal, finance, sales and operations.The company has also been searching for a new leader for brand safety and suitability. Its previous head of brand safety, A J Brown, who worked on efforts to prevent advertisements from appearing next to unsuitable content, quit in June.

From name change to new features, X has gone through a lot of changes since it was taken over by Elon Musk in 2022. Earlier, Musk was acting as the CEO of the micro-blogging site. In May, the billionaire stepped down from his position and announced Linda Yaccarinoas the new CEO of the social media platform. In an interview with CNBC, X’s current CEO Yaccarino said that she has “autonomy” under owner Elon Musk to run the company.She also mentioned that advertisers should be comfortable returning to the platform under her leadership. What Yaccarino said about her role in XYaccarino referred to the tweet which announced her hiring for the platform. In this tweet, Musk noted his control over product and development, while Yaccarino mentioned that her role was “everything else” involved in “running the company.” She also said that the company was “close” to breaking even. Yaccarino’s assurance to advertisersUnder Yaccarino’s leadership, popular brands like Coca-Cola, Visa and others have returned to X advertising. She also added that this happened due to her direct engagement with marketing and communications executives.Yaccarino also noted the platform’s effort to improve the advertiser experience. This effort was needed for X after brands fled from the platform after Musk acquired it. She said that brands are “protected from the risk of being next to” potentially toxic content. She explained that if the content is “lawful but awful” it is difficult to remove the content from the platform. However, X’s new content controls will bring down advertiser risk, she added. Yaccarino also revealed that X is now “healthier” than it was a year ago. However, she mentioned that users “might not agree” with all posts. Yaccarino on layoffsX CEO also explained that layoffs were a “very necessary cost discipline exercise,” and confirmed that the company now has about 1,500 employees. Twitter employed around 8,000 people before Musk acquired it.

Zoom, the company that normalized attending business meetings in your pajama pants, was forced to unmute itself this week to reassure users that it would not use personal data to train artificial intelligence without their consent. A keen-eyed Hacker News user last week noticed that an update to Zoom’s terms and conditions in March appeared to essentially give the company free rein to slurp up voice, video, and other data, and shovel it into machine learning systems. The new terms stated that customers “consent to Zoom’s access, use, collection, creation, modification, distribution, processing, sharing, maintenance, and storage of Service Generated Data” for purposes including “machine learning or artificial intelligence (including for training and tuning of algorithms and models).” The discovery prompted critical news articles and angry posts across social media. Soon, Zoom backtracked. On Monday, Zoom’s chief product officer, Smita Hasham, wrote a blog post stating, “We will not use audio, video, or chat customer content to train our artificial intelligence models without your consent.” The company also updated its terms to say the same. Those updates seem reassuring enough, but of course many Zoom users or admins for business accounts might click “OK” to the terms without fully realizing what they’re handing over. And employees required to use Zoom may be unaware of the choice their employer has made. One lawyer notes that the terms still permit Zoom to collect a lot of data without consent. (Zoom did not respond to a request for comment.) The kerfuffle shows the lack of meaningful data protections at a time when the generative AI boom has made the tech industry even more hungry for data than it already was. Companies have come to view generative AI as a kind of monster that must be fed at all costs—even if it isn’t always clear what exactly that data is needed for or what those future AI systems might end up doing. The ascent of AI image generators like DALL-E 2 and Midjourny, followed by ChatGPT and other clever-yet-flawed chatbots, was made possible thanks to huge amounts of training data—much of it copyrighted—that was scraped from the web. And all manner of companies are currently looking to use the data they own, or that is generated by their customers and users, to build generative AI tools. Zoom is already on the generative bandwagon. In June, the company introduced two text-generation features for summarizing meetings and composing emails about them. Zoom could conceivably use data from its users’ video meetings to develop more sophisticated algorithms. These might summarize or analyze individuals’ behavior in meetings, or perhaps even render a virtual likeness for someone whose connection temporarily dropped or hasn’t had time to shower. The problem with Zoom’s effort to grab more data is that it reflects the broad state of affairs when it comes to our personal data. Many tech companies already profit from our information, and many of them like Zoom are now on the hunt for ways to source more data for generative AI projects. And yet it is up to us, the users, to try to police what they are doing. “Companies have an extreme desire to collect as much data as they can,” says Janet Haven, executive director of the think tank Data and Society. “This is the business model—to collect data and build products around that data, or to sell that data to data brokers.” The US lacks a federal privacy law, leaving consumers more exposed to the pangs of ChatGPT-inspired data hunger than people in the EU. Proposed legislation, such as the American Data Privacy and Protection Act, offers some hope of providing tighter federal rules on data collection and use, and the Biden administration’s AI Bill of Rights also calls for data protection by default. But for now, public pushback like that in response to Zoom’s moves is the most effective way to curb companies’ data appetites. Unfortunately, this isn’t a reliable mechanism for catching every questionable decision by companies trying to compete in AI. In an age when the most exciting and widely praised new technologies are built atop mountains of data collected from consumers, often in ethically questionable ways, it seems that new protections can’t come soon enough. “Every single person is supposed to take steps to protect themselves,” Havens says. “That is antithetical to the idea that this is a societal problem.”

Patient capital with no exit mandates can benefit founders in India, where it can take much longer to become sustainable, said Nikhil Kamath Kamath also said that entrepreneurs can benefit from investors ‘willing to stick around’ rather than those looking to generate ‘rapid returns’ Rainmatter has so far invested nearly INR 400 Cr in 80 startups across sectors such as fintech, health and wellness, edtech and climate tech Zerodha’s investment arm Rainmatter has earmarked an additional INR 1,000 Cr capital to invest in sectors such as health, education, and climate change. In a tweet on Thursday (August 10), Zerodha cofounder and chief executive officer (CEO) Nithin Kamath said that the fresh capital would be invested in a unique ‘perennial structure’ that will have no exit mandates for the investor.  “We are now increasing our commitment by increasing the allocation by an additional INR 1,000 Cr in a perennial structure or with the ability to stay invested forever. Patient capital with no exit mandates that founders can benefit from when building an enterprise, in India specifically, where unlike in developed countries, it can take much longer to become resilient and sustainable,” said Kamath in a blogpost. He further said that the investment arm can ‘remain invested forever’ as the fund is backed by the firm’s own capital. Elaborating on the rationale for ‘patient capital’ for Indian founders, Kamath said that entrepreneurs can benefit from investors ‘willing to stick around’ rather than those looking to generate ‘rapid returns’. He also said that investors that bring in long-term patient capital to build ‘good, sustainable, long-term businesses’ would bode well for the local startup ecosystem.  “Good businesses cannot be built overnight, something we learned in our journey. So we are perennial investors and stick with the founders for as long as it takes the founders to build a sustainable business,” added Kamath.  Recounting his own journey, Kamath said that Zerodha succeeded because the investment tech startup had the freedom to do what it ‘thought was right’ without worrying, at the outset, about growing quickly in a slow-growing market. He added that when the markets boomed, Zerodha was there ‘ready to get lucky’. He also noted that a startup’s chances of getting ‘lucky’ grow higher as it survives longer while opting to grow slowly and steadily. In a tweet, Kamath said that Rainmatter has already invested nearly INR 400 Cr in 80 startups. Growing from a fintech fund and incubator at the beginning of 2016, Rainmatter has lately expanded its focus to sectors such as healthtech, edtech and climate tech.  Its fintech portfolio includes startups such as smallcase, Ditto and Digio, while its health and wellness portfolio counts names such as The Whole Truth, Peesafe, among others. In addition, it has also invested in climate tech startups such as Akshayakalpa, Solarsquare, Zerocircle, Ossus, among others.  Curiously, the announcement comes barely weeks after investment veteran and InfoEdge founder Sanjeev Bikhchandani, speaking at Inc42’s MoneyX, said that longer holding periods and the absence of pressure to provide exits could help corporate venture funds (CVFs) generate higher returns than their VC peers.  A typical venture capital fund generally expects exit within a seven-year timeframe. However, major names in the Indian startup ecosystem such as Zomato (founded in 2008) took more than a decade to turn profitable. Meanwhile, companies such as Paytm (founded in 2009) and PB Fintech (2008) which were founded in the late 2000s could not have offered major investment returns (barring IPO) for years as they have just begun to chart a path towards profitability.  With the announcement, Rainmatter has joined a growing list of investment firms that have accumulated dry powder to tap into the Indian startup ecosystem amid adverse market conditions. As per Inc42, more than 40 funds worth more than $3.6 Bn have been announced this year so far to be deployed in startups across various stages and sectors.