Latest news with #Raise
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Business Standard
6 days ago
- Business
- Business Standard
Gifting startups raised $115.9 mn over a decade, funding declined in 2025
Over the past 10 years, gifting startups in India have raised a total of $115.9 million compared to $1.7 billion in funding received globally between 2015 and 2025 to date, according to a report by market intelligence platform Tracxn. These figures show the transformation of the gifting industry from a predominantly offline, occasion-specific market to one that is increasingly tech-driven, the report said. 2025 funding levels drop in India Funding activity in India for 2025 remains subdued, with Indigifts being the only startup to raise funds. It secured just $57,600 in an angel round. This marks a sharp decline from the $1.3 million raised in 2024. The previous year, 2024, had already seen a 96 per cent drop compared to $32.7 million in 2023, and a 98 per cent fall from the $63.9 million raised in 2022. 2025 sees selective investor activity Investor activity so far in 2025 has been notably selective. In India, Ritesh Agarwal and Vineeta Singh emerged as the most active investors, supporting Indigifts. Internationally, Raise has been the most heavily funded gifting startup in 2025, securing a $63 million Series D round. The deal drew investment from leading names, including Haun Ventures, GSR Ventures, and Web3 Foundation, alongside smaller funds such as ANAGRAM, Paper Ventures, Selini Capital, and Pharsalus. Other deals included Inkd Greetings, raising $2.7 million in a Series A round, and Giftagram, which attracted $441,000 in seed funding. Globally, gifting startups raised $66.2 million across four rounds in 2025 to date. This compares to $99.8 million raised in 2024, representing a 54 per cent decline from the $218.0 million recorded in 2023, and a 16 per cent fall from the $118.6 million in 2022. The data points to a more cautious investment landscape, with investors showing greater selectivity and focusing on profitability rather than rapid expansion. Peak activity during Covid-19 The gifting sector experienced peak funding levels in 2022. That year, Indian startups raised $63.9 million -- their highest annual total. Globally, 2021 marked the high point with $559 million in funding. The surge was driven by increased demand for digital gifting solutions, along with the growing popularity of festive and corporate gifting. Additionally, there was wider adoption of D2C platforms offering customised and curated experiences. However, this momentum slowed in the following years, as investor focus shifted away from aggressive scaling strategies and moved towards supporting capital-efficient and sustainable business models. Neha Singh, co-founder of Tracxn, said, 'The gifting and rewards sector has quietly evolved into a globally relevant, innovation-led category. Over the last decade, we've seen over $2.5 billion flow into gifting startups, not just to scale transactions, but to reimagine consumer experience, convenience, and loyalty. India, while still maturing, has built a strong base of resilient, founder-led businesses that are defining new benchmarks in digital-first branding and operational efficiency.'
Forbes
23-07-2025
- Business
- Forbes
What Is The San Francisco Consensus, Silicon Valley's AI Prophecy?
Eric Schmidt, billionaire and co-founder of Schmidt Futures, at the Raise summit in Paris, France, ... More on Tuesday, July 8, 2025. The annual conference gathers global leaders and key speakers in tech and AI. Photographer: Nathan Laine/Bloomberg © 2025 Bloomberg Finance LP Just as the Washington Consensus dictated economic orthodoxy for developing nations throughout the 1990s, a new doctrinal framework is crystallizing among the power brokers of Silicon Valley. They have coalesced around a staggering prediction: Artificial intelligence will fundamentally transform all aspects of human activity within a mere three to six years. This prophecy—dubbed the "San Francisco Consensus" by former Google CEO Eric Schmidt—transcends typical Silicon Valley hyperbole. It represents Silicon Valley's equivalent of Washington's economic rulebook, a shared conviction driving trillion-dollar investments and strategic priorities among those actively constructing our AI future. Unlike the Washington consensus, which mandated fiscal austerity and economic restraint, Silicon Valley's calls for unprecedented investment and acceleration. Tech leaders are not advocating belt-tightening. They are pouring billions into AI infrastructure at a breathtaking pace, with the conviction that they are financing humanity's next evolutionary leap. "I call it a consensus because it's true that we agree... but it's not necessarily true that the consensus is true," Schmidt said at the RAISE summit in Paris earlier this month. This paradox captures both the fervor of belief and the inherent uncertainty in technological prophecy. What makes this consensus consequential is not the belief itself, but who believes it. They are the architects constructing our digital future. When the people controlling trillions in capital and computing resources share a conviction, reality has a curious way of conforming to their expectations. Schmidt frames the San Francisco Consensus as three simultaneous technological revolutions amplifying each other: The Language Revolution Large language models like ChatGPT have inverted the traditional human-computer relationship. Instead of humans learning machine languages, machines now understand ours. Language has become the universal interface for human-AI interaction. This goes beyond AI mimicking human prose, although watching it compose Shakespearean sonnets about cryptocurrency is entertaining. It represents a fundamental shift in accessibility, democratizing technological power in ways previously unimaginable. The priesthood of programmers is giving way to a world where anyone who can articulate their needs can harness computational power. The Agentic Revolution If the Language Revolution concerns AI understanding us, the Agentic Revolution involves acting independently in our world. We are witnessing the transition from AI as glorified calculators to autonomous actors. They were tools. Now they are agents. Schmidt envisions a near future where entire business workflows—from purchasing real estate to resolving contractual disputes—are managed by interconnected AI systems. Imagine digital agents negotiating, collaborating, and executing complex tasks with the efficiency of a bureaucracy but without the delays or regulations. This shift from passive tools to active agents represents a profound reconceptualization of how computational systems integrate into human affairs. The question is no longer what computers can calculate, but what they can achieve. The Reasoning Revolution The centerpiece of this technological triptych is AI's metamorphosis from pattern-matcher to genuine reasoner. New models by Google as well as OpenAI outperform graduate students in mathematics. This development might alarm academic departments but delight undergraduates struggling with differential equations. This represents the leap from machines that can mimic human outputs to systems that genuinely cogitate—plotting, analyzing, and problem-solving with remarkable acuity. We are witnessing the transition from impressive mimicry to unsettlingly human-like thought. The consensus timeline is breathtakingly compressed: Within months: Programming jobs and skilled roles begin vanishing faster than Taylor Swift concert tickets, transforming labor markets overnight. Within 3-6 years: Widespread artificial general intelligence (AGI) emerges, with machines rivaling our brightest minds across intellectual domains. In a decade: Artificial superintelligence (ASI) arrives. AI systems make discoveries beyond human comprehension. Picture explaining quantum mechanics to your golden retriever. Now imagine you are the retriever! Reality Reckons However, not everyone is drinking the algorithmic Kool-Aid. Why? Silicon Valley's prophecy graveyard is crowded. Flying cars, ubiquitous VR, Web3. The list goes on. Detractors say the San Fran Consensus could be another case of technological exuberance outrunning reality. They have a point here. After all, the epistemic bubble is real. When surrounded by true believers in Palo Alto, reality distortion fields form. This consensus may reflect groupthink among tech elites accustomed to deference. So are the hurdles. Reliability issues make current AI resemble temperamental toddlers at times. Replit's CEO, Amjad Masad, publicly apologized after its autonomous agent erased a production database. ChatGPT is said to have caused multiple hospitalizations for Jacob Irwin, a 30-year-old on the autism spectrum, because it fueled his time-travel fantasy. Are these bugs to fix? Maybe. But these instances represent fundamental challenges to trustworthy AI that the Consensus promises. The Consequential Consensus Whether prophetic or destined for technology's unfulfilled promises museum, the San Francisco Consensus is already redirecting capital flows and strategic priorities. Look at the infrastructure gold rush. Specialized chips and data centers are proliferating at breakneck speed. The self-fulfilling power of the collective belief of Silicon Valley elites is at full display here. Perhaps we will read about the San Francisco Consensus in textbooks someday.
New Statesman
09-07-2025
- Business
- New Statesman
PMQs review: Badenoch overshadowed as Starmer fails to land blows against Farage
Photo byIn fact, Rachel Reeves looked remarkably collected and well-balanced sitting on Keir Starmer's left today, last week's tears banished by the prospect of yet another ineffectual assault on Labour's economic record by Kemi Badenoch. The Tory leader was thrown off-balance from the get-go, asking Starmer if he could rule out increases to income tax, national insurance and VAT as per Labour's manifesto (clearly last week's New Statesman cover story 'Just Raise Tax', which argues for that sort of radical move, caught Badenoch's attention). But, wrong-footing Badenoch on her opening gambit, the Prime Minister simply responded: 'yes'. Badenoch never quite recovered, and fell into all her usual traps. Her attacks on council tax rises and frozen tax thresholds failed to land (someone remind the opposition leader than Jeremy Hunt planned to keep them frozen if the Tories won the last election), as did the line that the government is 'dragging us back to the 1970s'. Simply put, the Conservatives can't challenge Labour's economic struggles when a) they are yet to find a way to detoxify their own record from the last time they were in charge and b) Badenoch can't decide whether or not she'd reverse the very Labour policies she likes to rail against, or where she'd find the money if she did. Keep an eye on the Tories' attempts to turn the state pension into the next winter fuel allowance battleground, with Badenoch raging that 'struggling pensioners' would now 'face a retirement tax' as a result of those frozen thresholds. She did not mention that this 'tax' is because the triple-lock (due to cost £15.5bn a year by 2029-30, by the way) ensures pensioners get an income boost regardless of how the economy is doing. But it's an attack line Labour should be wary of – as the outrage over wealthy pensioners no longer receiving the universal benefit of winter fuel allowance proved. Mostly, however, Badenoch was an irrelevance to this session – even if she did manage to rally her MPs into a chorus of 'up, up, up' as she listed how things like inflation and unemployment had risen over Labour. Starmer was able to dodge her ham-fisted blows on the economy far more easily than his government will be able to dodge the economic reality: as the OBR warned this week, higher spending commitments and U-turns on cuts have meant 'a substantial erosion of the UK's capacity to respond to future shocks'. Further spending rows are on the horizon, notably over SEND provision in schools, which several MPs brought up today. One of them was Ed Davey, who warned the government not to 'strip away the rights of parents and children in some cost-cutting exercise', and magnanimously reminded Starmer that if he wanted to get serious on the issue 'then we have 72 votes to help'. A warning that viewing the weekly PMQs performance through the lens of two-party politics is no longer particularly useful. We got other reminders of that, too. Green co-leader Adrian Ramsey (look out for a forthcoming New Statesman podcast between him and fellow leadership contender Zack Polanski) wanted to know what Starmer thought of the wealth tax idea mooted by Lord Kinnock at the weekend. Starmer responded 'we can't just tax our way to growth' – inadvertently echoing a phrase Badenoch had used on behalf of the Tories minutes before. Awkward. Subscribe to The New Statesman today from only £8.99 per month Subscribe And there was the (no-doubt planted) question from Labour backbencher John Slinger on the work of the Covid Corruption Commissioner, asking if Starmer agreed there should be 'no place in public life for people who exploited the pandemic and defrauded the taxpayer to line their own pockets'. No prizes for guessing what might have prompted such a question, given Reform are now down to four MPs after James McMurdock suspended himself amid accusations of having taken out dodgy Covid loans (which he denies). 'We will continue to go after the fraudsters, the grifters and the con artists, no matter who they are or where we find them,' Starmer replied, with a pointed look at the Reform bench, where Nigel Farage was sitting directly in front of cosy ex-Labour duo Jeremy Corbyn and Zarah Sultana. (For more on what's going on with the insurgent left, check out Megan Kenyon's recent reporting.) Anyway, back to PMQs, where Farage powered through audible heckles of 'because they were lied to' and 'will you shut up' to say people voted for Brexit because of immigration concerns and essentially accuse the PM of not being tough enough. As always, Starmer had an anti-Reform reply ready. Farage's strategy for reducing illegal immigration, he argued, was 'to stick two fingers up to your neighbours and then expect them to work with you'. 'He has no interest in fixing the problem because he wants to milk and exploit it,' Starmer continued. Later on, Starmer used another friendly question on workers' rights to slam first Badenoch's comments on maternity pay being 'excessive' and then Farage's pro-billionaire agenda. It's an attack against Reform in particular that Labour is desperate to land, as Farage goes about insisting he is the real champion of the working man. Will it work? We've got another New Statesman podcast coming soon with exclusive polling on exactly this question. In the meantime, Starmer will have to content himself on a decent enough performance today not to overshadow the big negotiations with Emmanuel Macron today and tomorrow. And Badenoch will be trying to figure out how to avoid getting overshadowed yet again. [See more: Britain is growing old disgracefully] Related
Daily Tribune
27-05-2025
- Business
- Daily Tribune
Raise opens investor doors
business TDT | Manama Bahrain's startup ecosystem is gaining traction with the return of 'Raise: The Art of Fundraising', a bootcamp designed to do what most founders struggle with: get them face-toface with investors. Now in its ninth cohort, Raise has opened applications for the next twoweek round of its investment readiness programme. Backed by The Labor Fund (Tamkeen) and delivered by Spring Venture Services in partnership with global VC firm Salica Investments, Raise goes beyond mentorship. It connects early-stage startups directly with investor networks across the MENA region, providing access to capital, industry leaders, and essential strategic guidance. Doors to capital The programme's track record includes eight completed bootcamps and 16 StartUp Bahrain Pitch events. Over 100 startups have benefited from tailored support in pitching, valuation, and deal negotiation. Standouts from previous cohorts, like DOO founder Ali Mohsen, credit the program for helping land funding and refine go-to-market plans. 'Raise was instrumental in refining our fundraising strategy and connecting us with investors,' he said. This time, selected startups will also join an exclusive Investor Mixer. The event places founders in front of key venture capital firms and angel investors, allowing for real-time feedback and potential deal flow. Bahrain's startup engine The initiative feeds directly into the national innovation agenda. In collaboration with the Ministry of Industry & Commerce, Bahrain Economic Development Board, and Bahrain Development Bank, the program culminates in a live pitch competition under the StartUp Bahrain Pitch Series banner. Winners walk away with milestone-linked cash prizes and ongoing support from Raise partners. Applications are now open via the programme's official website. For Bahrain-based founders with scalable ideas and big ambitions, Raise may just be the shortest route from pitch to funding.
Biz Bahrain
27-05-2025
- Business
- Biz Bahrain
Applications Open for Cohort 9 of 'Raise" to Empower Startup Founders in Investment Readiness
Spring Venture Services announced that applications are now open for the 9th cohort of 'Raise: The Art of Fundraising,' a two-week intensive bootcamp designed to equip startup founders with the skills and knowledge needed to secure investment and scale their businesses. The programme is supported by The Labour Fund (Tamkeen) to prepare startups for institutional fundraising, with participation in the ongoing StartUp Bahrain Pitch Series as one milestone along the way. The programme is facilitated by Spring Venture Services, and global venture capital firm Salica Investments, providing founders with capital, expert in-house capability, and access to MENA's leading investors to increase the likelihood of startup success. Since its inception, 'Raise' has successfully conducted eight bootcamps in preparation for 16 StartUp Bahrain Pitch events, helping 114 startups refine their investor readiness and secure essential funding. The programme provides entrepreneurs with hands-on workshops, fireside chats, and one-on-one office hours, ensuring they gain a strong foundation in fundraising, pitching, and business strategy. A key highlight of the programme is the StartUp Bahrain Pitch Series, where participating startups will have the opportunity to showcase their businesses before an esteemed panel of leading regional venture capitalists and investors. These events are organised in collaboration with key industry stakeholders, including the Ministry of Industry & Commerce, the Labour Fund (Tamkeen), Bahrain Economic Development Board, and Bahrain Development Bank (BDB), and StartUp Bahrain. The events conclude with the announcement of the 2 winning startups, which receive a cash prize deployed against key milestones, along with potential further funding and support from programme partners. Commenting on the success of Raise, Ali Mohsen founder of DOO, a winner of the 16th edition of StartUp Bahrain Pitch, stated, 'Raise was instrumental in refining our fundraising strategy and connecting us with investors. The mentorship and expert guidance we received gave us the confidence and tools to take our business to the next level.' The upcoming cohort will feature enhanced networking opportunities and increased access to industry leaders, potential partners, and investors. Startups will also participate in an Investor Mixer, where they can pitch their businesses to a network of investors. Interested startups are encouraged to apply by visiting the programme page on [
