Latest news with #Mody
Mint
13-05-2025
- Business
- Mint
VC funding wave gains momentum as dealmaking rebounds, but caution prevails
Mumbai: A wave of fundraising is sweeping through India's venture capital landscape as firms like Nexus Venture Partners, Lok Capital, Chiratae Ventures, Peak XV Partners, and Fireside Ventures gear up to raise fresh capital, but with leaner fund sizes and more targeted approaches. Funds such as WEH Ventures and Avataar Venture Partner are also expected to hit the market in the coming months, while Arkam Ventures is reportedly in the final stages of closing its latest fund, multiple people familiar with the developments told Mint. While dealmaking is resuming after a lull, the fundraising strategies reflect a more selective and conservative approach. Investors are recalibrating amid valuation corrections and tougher exit conditions, experts said. Several funds have pivoted toward leaner sizes as the funding euphoria of previous years gives way to a more measured approach. This has led several firms to scale down fund sizes or maintain them at previous levels, a stark contrast to the aggressive raises from the years before. Read this | Private equity eyes fresh bite of regional food brands, repeat of Haldiram 'India's venture scene is suffering from too much money and too few investable targets. Funds raised during the 2021 boom have left about $20 billion of dry powder on the sidelines," said Siddharth Mody, partner at JSA Advocates & Solicitors. 'Managers are now three years into their investment periods yet have deployed barely half of what they raised because many growth-stage founders are still anchored to peak-cycle valuations while revenue curves trail projections." This mismatch has created a 'deal-making bottleneck," with term sheets concentrating around a handful of breakout stories while other startups struggle to secure funding, Mody added. 'Limited partners see this mismatch and are in no hurry to write new cheques. That's why India-focused fundraising collapsed to $2.7 billion in 2024, its lowest since the pandemic, even though the macro backdrop is healthy," he said. 'General partners are responding by shrinking vehicle sizes, extending deployment timetables, and keeping larger follow-on reserves for the few companies that merit additional capital. Until exits accelerate and pricing expectations normalise, expect leaner funds and a slower tempo of initial investments. Dry powder is no longer a growth accelerant but is rather an opportunity cost weighing on returns," Mody explained. Fund moves Nexus Venture Partners is eyeing a $500-600 million corpus for its eighth fund, a slight decrease from its previous $700 million fund that invested in India and the US, the people cited above said. Chiratae, meanwhile, is looking to raise over ₹2,000 crore to back Indian startups, while Lok Capital plans a $250 million fifth fund, they added. Fireside Ventures is also gearing up to raise $230 million (around ₹2,000 crore), maintaining the corpus size of its third fund raised in 2022, according to news reports. Nexus did not respond to Mint's request for comment, while Arkam and Chiratae declined to comment. 'We are in the final stages of investing from our fourth fund. We have just launched our fifth fund and have begun discussions with LPs (limited partners). It is likely to be about $250 million largely led by our existing LP base although we are hoping to bring in new investors as well," said Venky Natarajan, co-founder of Lok Capital, confirming the development. Read this | Choppy markets take toll on pre-IPO deal talks The fund expects a first close by mid-2026 and will also seek to bring back some Indian LPs, although its investor base remains predominantly overseas, he added. Over the years, Lok Capital has pivoted towards growth-stage investments in financial services, food and agriculture, climate, and healthcare, sectors with clearer revenue paths and profitability potential. 'We started with an average ticket size of about $2 million in our first fund to $10 million in Fund IV. With our new fund, we plan to do $15-20 million investments and aim to increase our focus on the consumer space, as we see a lot of opportunities there," Natarajan said. WEH Ventures, known for backing Apps for Bharat, Jar, Smallcase, and Pratilipi, is also poised to launch its next fund, driven by inbound interest from existing domestic LPs and international investors. 'We are seeing interest from our existing domestic investor base and inbound interest from other international LPs as well…India has performed well in terms of exits, and valuations have corrected," said Rohit Krishna, partner at WEH Ventures. He did not disclose the fund size. 'It's ultimately a question of which funds they want to invest in based on distributions rather than whether to invest in this asset class or not," Krishna added. Avataar Venture Capital, which raised its second $350 million fund in 2022 to invest in Enterprise/AI software, deeptech, and B2B2C business models, is now preparing to raise its third fund. 'While we have not decided on the exact size, we will never do a billion-dollar fund as it makes exits more challenging. We have stuck to around $350 million for our first two funds and aim to be in that range keeping in mind the kind of distributions we want to give our LPs," Avataar's founder Mohan Kumar told Mint. Blume Ventures and Peak XV are also in discussions to raise new funds. Blume, which has invested in Battery Smart, Purplle, and Unacademy, is expected to maintain its next two funds at about $290 million, in line with its previous corpus. Read this | India's mid-market gets a boost as Trident Growth launches ₹2,000 cr maiden fund Peak XV, meanwhile, is eyeing a $1.4 billion India-Southeast Asia fund, its first since separating from its parent firm. The new fund is expected to be raised by the end of the current fiscal year and may also invest in other funds launched by other former company executives, Mint reported last month. This comes after Peak XV cut the size of its previous $2.85 billion fund by $465 million last year to reduce its cost of capital. For context, investing in funds is a common strategy for new VC and PE firms to enter a market. Several global investors made LP investments in Indian funds before making direct investments, using these LP stakes to understand the market. The surge in fundraising activity aligns with a broader revival in Indian private equity and VC markets over the past six to eight months. Several firms, including Kedaara, ChrysCapital, Stellaris Ventures, India Quotient, Sixth Sense, Prime Ventures, Accel, A91 Partners, Cornerstone VC, and Bessemer Venture Partners, have launched new funds. 'The Indian market is fairly large and will continue to expand. While there has been some correction even in the number of GPs who have been able to raise follow-on funds, the market is very deep, and the investable opportunity is large," said Lok's Natarajan. Market mood While several firms are returning to the market, overall fundraising remains subdued. According to a report by Bain & Co., while exits in 2024 rose to $6.8 billion, total fundraising dropped by 35% to $2.7 billion, the lowest since 2020. This divergence suggests that despite increased exit activity, LPs are exercising caution, likely due to accumulated dry powder and ongoing volatility in public markets. These exits came on the back of 7x surge in returns from initial public offerings (IPOs) fuelled by investors seeking liquidity as they approach the end of their fund life cycles and a recovery in key tech stock valuations, regulatory reforms, and a pent-up IPO backlog. Some prominent startup IPOs from the last year include Ola Electric, Swiggy, Blackbuck, Unicommerce, FirstCry, and Ixigo. Also read | Venture cautiousness: Why Blume, other VCs are treading safe despite IPO wave The report noted that maiden funds also gained prominence last year, comprising nearly a third of all venture/growth capital raised. These funds are increasingly targeting specific themes such as sustainability, defence, and gaming, indicating that even as overall capital becomes scarcer, sector-specific strategies are gaining traction.
The Independent
17-04-2025
- Health
- The Independent
What is Type 5 diabetes? New form of disease recognised after decades of debate
A new type of diabetes that's linked not to obesity but to malnutrition has been officially recognised, decades after it was first observed in developing countries. The International Diabetes Federation (IDF) this month officially recognised the disease as "Type 5 diabetes" or Maturity Onset Diabetes of the Young (Mody). The rare form of diabetes is believed to affect about 25 million people globally, and is caused by malnutrition-induced low insulin production among lean and malnourished teenagers and young adults in low and middle-income households, according to reports. The new disease, distinct from Type 1 and 2 diabetes, was officially recognised through a vote on 8 April at the IDF's World Diabetes Congress in Bangkok, Thailand following years of debate over its identification. Meredith Hawkins, professor of medicine at Albert Einstein College of Medicine, said malnutrition-related diabetes 'has historically been vastly underdiagnosed and poorly understood'. "The IDF's recognition of it as 'Type 5 diabetes' is an important step toward raising awareness of a health problem that is so devastating to so many people." Type 5 diabetes is a rare, inherited form of the disease that develops in the early teens or 20s in people who have a genetic mutation passed from parent to child. If a parent has the affected gene, their children have a 50 per cent chance of also being carriers. It is not caused by being obese or through lifestyle choices. Mody is estimated to affect up to 25 million people globally, mainly young men in Asia and Africa with a body mass index less than 19kg/m2, according to experts. Nihal Thomas, professor of endocrinology at Christian Medical College in India and a member of the Type 5 Diabetes Working Group, said the disease causes pancreatic beta cells to function abnormally, which leads to insufficient production of insulin. 'Due to the lack of formal recognition, this condition has been understudied and misdiagnosed,' he was quoted by The Indian Express as saying. Mody was first described in Jamaica in 1955. Three decades later, the World Health Organization officially classified 'malnutrition-related diabetes mellitus' as a distinct diabetes type, before dropping the category in 1999 due to a lack of evidence. Patients are often misdiagnosed as having Type 1 diabetes despite the fact that providing them too much insulin can rapidly prove fatal, Dr Hawkins told Medscape Medical News. "Malnutrition-related diabetes is more common than tuberculosis and nearly as common as HIV/AIDS, but the lack of an official name has hindered efforts to diagnose patients or find effective therapies," Dr Hawkins said. Dr Hawkins said she first learned of malnutrition-related diabetes in 2005 while teaching at global health meeting, when doctors from multiple countries told her they were seeing patients with "an unusual form of diabetes". "The patients were young and thin, which suggested that they had Type 1 diabetes, which can be managed with insulin injections to regulate blood sugar levels. But insulin didn't help these patients and in some cases caused dangerously low blood sugar," she said, according to Medical Express. The patients did not seem to have Type 2 diabetes either, with is typically associated with obesity, she said, adding: "It was very confusing." Dr Hawkins founded Einstein's Global Diabetes Institute in 2010, which began leading international efforts to uncover the underlying metabolic defects that leads to malnutrition-related diabetes. More than a decade later in 2022, Dr Hawkins and her colleagues at the Christian Medical College demonstrated that this form of diabetes was fundamentally different from Type 1 and 2. She said people with this form of diabetes have a profound defect in the capacity to secrete insulin, which wasn't recognised before. "This finding has revolutionised how we think about this condition and how we should treat it." Doctors worldwide are still unsure how to treat these patients, who often don't live for more than a year after diagnosis, according to Dr Hawkins. She added that to manage Type 5 diabetes, the patients should include much higher amounts of protein and lower amounts of carbohydrates in their diet, while paying attention to deficient micronutrients. "But this needs to be carefully studied now that there is global will and an official mandate from [IDF] to do so.'
Yahoo
18-02-2025
- Business
- Yahoo
Best Custom Swag For Gifting In USA - That Sustainable Company Creates Sustainable Branded Promotional Products
New York, Feb. 18, 2025 (GLOBE NEWSWIRE) -- New York, New York - That Sustainable Company, a branded merchandise company based in NYC, has created a B2B marketplace for products made with environmentally friendly, alternative materials, such as plant-based leather made from banana crop waste. Visit for learn more about That Sustainable Company. This innovative startup aims to tackle several environmental challenges. By being plastic free and sourcing next generation materials of the future, That Sustainable Company aims to the reduce the 40 million tons of plastic waste that corporate gifting generates every year in the US. It also contributes to the reduction of the 120 million tons of banana waste produced each year through upcycling and supports one million banana farmers in India who earn less than $2 a day. Products by That Sustainable Company also provide a 100% reduction in toxic wastewater and reduces carbon dioxide emissions by 90% compared to animal leather based products. For more information about That Sustainable Company visit Founders, Margaret Boreham and Jinali Mody, were inspired to start That Sustainable Company as graduate students at Yale when they realized the majority of the swag they received from university and recruiting events were basic, mass-produced items that would likely end up in landfill. Their extensive backgrounds, including consulting experience with McKinsey & Co. and Deloitte, fashion and accessories design experience, and degrees in biochemistry, environmental management, and business administration, have equipped them to create thoughtfully designed and environmentally friendly products delivered through a seamless ordering and manufacturing process process. The start-up has received tremendous support from Yale's entrepreneurship community at TSAI city, the School of Management, and the Centre for Business and the Environment. That Sustainable Company recently accepted the 2023 Hult Prize, the world's largest social entrepreneurship competition for students, on behalf of Banofi Leather, a materials science start up that creates a plant-based leather alternative from banana crop-waste, also founded by Boreham and Mody. As the winners, they received a $1 million prize presented by Stella McCartney, a pioneer in the space of sustainable fashion. This prestigious award came after competing with over 10,000 teams globally. Boreham and Mody decided to put the prize money towards developing an additional market for sustainable alternative materials in the promotional products space, with goods made from Banofi Leather as the first items available to clients. Banofi's proprietary alternative leather is the main material used in TSC products and is 35% banana stem waste, 60% bio-based natural additives, and 5% synthetics. This material not only recycles a substantial amount of banana waste but also ensures a 100% reduction in toxic wastewater and 95% less CO2 emissions compared to animal leather. It is noted for its strength, texture, and durability, making it suitable for a range of applications in fashion, furniture, and automotive industries. That Sustainable Company plans in the future to feature other innovative materials in its products. As of late 2024, That Sustainable Company has launched its first e-commerce website and has started pilot manufacturing, allowing them to troubleshoot issues and receive valuable feedback for future scaling. They have licensing agreements with 3 universities and have sold products such as cardholders, keychains, luggage tags, and notebooks to leading institutions like Yale, MIT, Rice University, and Education First. These items are ideal gifts for employees, customers, students, alumni, or donors and have been used to promote events such as conferences and marketing campaigns. All That Sustainable Company products are manufactured in India and we prioritize making a positive social impact upon the communities we operate in. Annually, India produces over 120 million tons of banana waste. Over a million banana farmers, often earning less than $2 a day, are left struggling with the economic burden of this waste. "Our research revealed an opportunity to not only find a more sustainable alternative to traditional leather but also to make a significant socioeconomic impact," says Jinali Mody, founder of Banofi Leather and That Sustainable Company. Banana plants yield fruit only once per stalk, leaving the stems as waste after each harvest. These stems, rich in nutrients and remarkably versatile, have proven ideal for creating plant-based leather goods to be used as promotional products and gifts for universities and corporations. More information about That Sustainable Company and a full e-commerce catalog of available customizable swag can be found on its website at ### For more information about That Sustainable Company, contact the company here:That Sustainable CompanyParthvi Harde+1(646)-363-6651contact@ Utica Avenue #1147 Brooklyn, NY 11234 CONTACT: Parthvi HardeSign in to access your portfolio
Mid East Info
18-02-2025
- Business
- Mid East Info
RELIANCE CONSUMER PRODUCTS ENTERS THE UAE WITH THE LAUNCH OF CAMPA COLA AT GULFOOD 2025 - Middle East Business News and Information
Partners with Agthia Group to Refresh UAE. Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Ltd, officially launched the Indian legacy brand Campa Cola in the UAE at the 30th edition of Gulfood, the world's largest F&B sourcing event. This debut marks RCPL's first entry into the United Arab Emirates and reaffirms its long-term commitment to the region. Since acquiring Campa Cola in 2022 and reintroducing it to India in 2023, RCPL has successfully revived the heritage brand that held cult status in India in the 1970s and 1980s. Campa Cola's entry into the beverages industry in the UAE is being launched with partner Agthia Group, one of the region's leading food & beverage companies. Ketan Mody, COO of Reliance Consumer Products Ltd, said: 'We are excited to enter the UAE market with Campa, a heritage Indian brand founded more than 50 years ago. We are investing for the long-term and see great potential for accelerated growth in the region. We have a track record of delivering innovative and global quality products at affordable prices to customers. We are delighted to come together with our partners today to transform the beverage experience for consumers across the UAE. Campa Cola has multi-generational relevance and reignites a memory and prompts consumers to revisit and relive those cherished moments. Campa isn't just a drink; it's a revival of a legacy, a taste of India, and a celebration of the spirit of today's youth. We're confident it will introduce a new wave of fans to its refreshing taste across all consumers in the UAE and spark nostalgia amongst Indian expats connecting them to their roots' said Mody. Commenting on the partnership, Agthia's Chief Executive Officer, Alan Smith, said , 'We're thrilled to partner with Reliance Consumer Products to bring Campa Cola to the UAE. This iconic brand holds deep nostalgia for many, and we believe it will strongly resonate with the significant Indian expatriate community in the UAE, and local consumers alike. This partnership further strengthens Agthia's diverse beverage portfolio and reinforces our leadership in the region's dynamic market. With our robust distribution network and market expertise, we're excited to reintroduce Campa Cola to a new generation of consumers in the UAE.' Campa Cola, with its refreshing taste and fizzy stimulation, positioned as an enabler of grit and determination, the brand celebrates the fearless, never-give-up attitude of today's youth. It is more than just a beverage, it is a symbol of perseverance and ambition, inspiring consumers to embrace challenges with confidence and enthusiasm. With its vibrant packaging and nostalgic charm, Campa Cola is set to become a favourite among consumers. The Campa portfolio will initially include Campa Cola, Campa Lemon and Campa Orange and Cola Zero. From its eye-catching refreshed red and purple packaging to its promise of a competitively priced product, Campa Cola is well on its way to becoming a modern-day success story, making it ever more relevant to the UAE. About Reliance Consumer Products Limited (RCPL) : RCPL is the FMCG arm of Reliance Industries Ltd. on a mission to empower the everyday life of consumers. With a strong commitment to innovation and consumer satisfaction, Reliance Consumer Products blends global standards with local insights to create products that resonate with consumers while being accessible to everyone at honest prices and within an arm's length of desire. Backed by the robust infrastructure and trust of Reliance Industries Ltd, the company aims to offer solutions that cater to the evolving needs of consumers, fostering long-term relationships with communities and contributing to the nation's growth. Reliance Consumer Products is on a journey of shaping the future of the consumer goods industry by meeting the diverse needs of households and communities, offering solutions that are world-class, trusted, value-driven and reflect the evolving lifestyle of today's consumer. About Agthia: Agthia Group PJSC is a leading Abu Dhabi-based food and beverage company. Established in 2004, the Company is listed on the Abu Dhabi Securities Exchange (ADX) and has the symbol 'AGTHIA'. Agthia Group PJSC is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy. The Group's assets are located in the UAE, Saudi Arabia, Kuwait, Oman, Egypt, Turkey, and Jordan. Agthia offers a world-class portfolio of integrated businesses providing high-quality and trusted food and beverage products for consumers across the UAE, GCC, Turkey, the wider Middle East, South America and Asia. More than 12,000 employees are engaged in the manufacturing, distribution, and marketing of various products in categories such as Water & Food (Al Ain Water, Al Bayan, Alpin Natural Spring Water, VOSS, Al Ain Food & Trading Items); Snacking (Al Foah, Al Faysal Bakery & Sweets, BMB, Abu Auf); Protein & Frozen (Nabil Foods, Atyab, Al Ain Frozen Vegetables); and Agri-Business (Grand Mills, Agrivita).
Zawya
18-02-2025
- Business
- Zawya
Reliance Consumer Products enters the UAE with the launch of Campa Cola at Gulfood 2025
Dubai, UAE – Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Ltd, officially launched the Indian legacy brand Campa Cola in the UAE at the 30th edition of Gulfood, the world's largest F&B sourcing event. This debut marks RCPL's first entry into the United Arab Emirates and reaffirms its long-term commitment to the region. Since acquiring Campa Cola in 2022 and reintroducing it to India in 2023, RCPL has successfully revived the heritage brand that held cult status in India in the 1970s and 1980s. Campa Cola's entry into the beverages industry in the UAE is being launched with partner Agthia Group, one of the region's leading food & beverage companies. Ketan Mody, COO of Reliance Consumer Products Ltd, said: 'We are excited to enter the UAE market with Campa, a heritage Indian brand founded more than 50 years ago. We are investing for the long-term and see great potential for accelerated growth in the region. We have a track record of delivering innovative and global quality products at affordable prices to customers. We are delighted to come together with our partners today to transform the beverage experience for consumers across the UAE. Campa Cola has multi-generational relevance and reignites a memory and prompts consumers to revisit and relive those cherished moments. Campa isn't just a drink; it's a revival of a legacy, a taste of India, and a celebration of the spirit of today's youth. We're confident it will introduce a new wave of fans to its refreshing taste across all consumers in the UAE and spark nostalgia amongst Indian expats connecting them to their roots' said Mody. Commenting on the partnership, Agthia's Chief Executive Officer, Alan Smith, said, 'We're thrilled to partner with Reliance Consumer Products to bring Campa Cola to the UAE. This iconic brand holds deep nostalgia for many, and we believe it will strongly resonate with the significant Indian expatriate community in the UAE, and local consumers alike. This partnership further strengthens Agthia's diverse beverage portfolio and reinforces our leadership in the region's dynamic market. With our robust distribution network and market expertise, we're excited to reintroduce Campa Cola to a new generation of consumers in the UAE.' Campa Cola, with its refreshing taste and fizzy stimulation, positioned as an enabler of grit and determination, the brand celebrates the fearless, never-give-up attitude of today's youth. It is more than just a beverage, it is a symbol of perseverance and ambition, inspiring consumers to embrace challenges with confidence and enthusiasm. With its vibrant packaging and nostalgic charm, Campa Cola is set to become a favourite among consumers. The Campa portfolio will initially include Campa Cola, Campa Lemon and Campa Orange and Cola Zero. From its eye-catching refreshed red and purple packaging to its promise of a competitively priced product, Campa Cola is well on its way to becoming a modern-day success story, making it ever more relevant to the UAE. -Ends- For more information, please contact Brazen MENA: E: campacola@ About Reliance Consumer Products Limited (RCPL): RCPL is the FMCG arm of Reliance Industries Ltd. on a mission to empower the everyday life of consumers. With a strong commitment to innovation and consumer satisfaction, Reliance Consumer Products blends global standards with local insights to create products that resonate with consumers while being accessible to everyone at honest prices and within an arm's length of desire. Backed by the robust infrastructure and trust of Reliance Industries Ltd, the company aims to offer solutions that cater to the evolving needs of consumers, fostering long-term relationships with communities and contributing to the nation's growth. Reliance Consumer Products is on a journey of shaping the future of the consumer goods industry by meeting the diverse needs of households and communities, offering solutions that are world-class, trusted, value-driven and reflect the evolving lifestyle of today's consumer. About Agthia Agthia Group PJSC is a leading Abu Dhabi-based food and beverage company. Established in 2004, the Company is listed on the Abu Dhabi Securities Exchange (ADX) and has the symbol 'AGTHIA'. Agthia Group PJSC is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy. The Group's assets are located in the UAE, Saudi Arabia, Kuwait, Oman, Egypt, Turkey, and Jordan. Agthia offers a world-class portfolio of integrated businesses providing high-quality and trusted food and beverage products for consumers across the UAE, GCC, Turkey, the wider Middle East, South America and Asia. More than 12,000 employees are engaged in the manufacturing, distribution, and marketing of various products in categories such as Water & Food (Al Ain Water, Al Bayan, Alpin Natural Spring Water, VOSS, Al Ain Food & Trading Items); Snacking (Al Foah, Al Faysal Bakery & Sweets, BMB, Abu Auf); Protein & Frozen (Nabil Foods, Atyab, Al Ain Frozen Vegetables); and Agri-Business (Grand Mills, Agrivita). For more information, please visit or email us on corpcoms@
