Latest news with #tier2cities
Entrepreneur
11 hours ago
- Business
- Entrepreneur
STAN Raises USD 8.5M to Build India's Mobile-First Gaming Social Platform
The funding strengthens STAN's position as a homegrown social platform tailored for India's mobile-first user base, aiming to become the go-to destination You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Social gaming platform STAN has raised USD 8.5 million in its latest funding round, backed by a mix of global investors, gaming giants, and tech leaders including Google's AI Futures Fund, Bandai Namco Entertainment, Square Enix, Reazon Holdings, and Aptos Labs. Existing investors such as General Catalyst, GFR Fund, T-Accelerate Capital, and Pix Capital also participated. The funding strengthens STAN's position as a homegrown social platform tailored for India's mobile-first user base, aiming to become the go-to destination for gaming communities and creators outside traditional metro markets. With over 25 million downloads and a growing user base in tier-2 and tier-3 cities, STAN is building what it calls the "social layer of gaming"—where players connect not just for gameplay, but for conversation, identity, and community. STAN differentiates itself by offering tools built specifically for mobile-first gamers and content creators, such as voice-led clubs, live game integrations, and monetization features including shoutouts, subscriptions, and branded activations. The funding will be used to expand into other mobile-dominant markets, invest in AI-driven personalization, and deepen creator and publisher tooling. "In India, gaming is not just about play, it's a way of life," said Parth Chadha, Co-founder and CEO of STAN. "We've built STAN around that insight, focusing on real value for creators and fans. This funding helps us double down on that mission." David Benjamin of Google's AI Futures Fund added, "STAN's vision for empowering creators with responsible AI aligns deeply with our mission, and we're excited to support their journey."
Entrepreneur
17-07-2025
- Business
- Entrepreneur
India's Tech Startups See 2.1X Growth, Rise in Deeptech: NASSCOM
Even amid cautious global capital flows, Indian startups attracted diversified funding in CY24, with investors showing increasing conviction in DeepTech, ClimateTech, and AI-enabled solutions. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's thriving digital economy and strategic reforms have propelled its GDP growth rate to 6.4 per cent, but beneath this macroeconomic stability lies a vibrant tech startup ecosystem that is rapidly evolving, said a NASSCOM report. In Calendar Year 2024 (CY24), India witnessed a 2.1X growth in new tech startup creation over CY23, with tier-2 and tier-3 cities emerging as hotbeds of innovation. A key pillar driving this surge: changing trends in startup funding. Even amid cautious global capital flows, Indian startups attracted diversified funding in CY24, with investors showing increasing conviction in DeepTech, ClimateTech, and AI-enabled solutions. Traditional favorites like fintech and edtech saw tempered enthusiasm, while sectors aligned with national priorities, such as healthtech, agri-tech, and sustainability, gained prominence. This shift has seen capital moving towards solutions rooted in infrastructure resilience, digital public goods (DPGs), and advanced manufacturing, rather than pure consumer-centric plays. CY24 also witnessed a maturing investor base in India. While global VC participation remained significant, domestic capital, from family offices, corporates, and alternative investment funds (AIFs), grew in prominence. India's investors are becoming more strategic, with a focus on sustainable, long-term value creation over quick exits. The DeepTech funding landscape, previously underserved, is now gaining structured support through specialized funds, government-backed schemes, and corporate innovation programs. This comes at a time when investors are willing to take longer bets on technologies that could power India's next decade, such as quantum computing, space tech, and biotech, said the report. India's startup ecosystem now hosts 800+ incubators and accelerators, a ~1.5X growth since CY19. Notably, corporates have also increased their involvement in early-stage support, offering mentorship, market access, and pilot opportunities through CVC arms and innovation labs. This has helped build founder confidence and bridge the infamous "valley of death" in funding. One of the bright spots in CY24 has been the renewed momentum in startup exits, through both secondary sales and strategic acquisitions. With increasing domestic IPO ambition and rising M&A activity, investors are regaining confidence in achieving liquidity, even in a more cautious funding climate. According to the report, a majority of Indian tech startups surveyed in CY24 indicated that they outperformed their growth projections and remained optimistic about revenue and fundraising opportunities in CY25. Despite the upward trends, challenges remain, especially around follow-on funding, slow due diligence cycles, and valuation mismatches. Founders are increasingly vocal about the need for patient capital, more localized funds, and reduced regulatory friction.
Entrepreneur
12-05-2025
- Business
- Entrepreneur
AI Adoption, GCCs Growth Push IT Sector Hiring to 16% in April: Report
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. A recently released report noted that the Information Technology sector hiring expanded by 16 percent year-on-year in April 2025 in India due to factors such as "Artificial Intelligence (AI) adoption, cloud modernisation, and continued growth of Global Capacity Centres (GCCs)". "India's IT sector is entering a new era of strategic growth," said V. Suresh, CEO, foundit. "We are witnessing a clear shift from scale-based hiring to a strong focus on specialized, future-ready skills. This transformation reflects India's broader vision to empower its youth for global leadership in science and innovation. While metros continue to drive demand for experienced talent, tier-2 cities are rapidly emerging as vibrant talent hubs," he added. According to IBEF, India's corporate landscape is going through a shift, which is mainly driven by the rise in the number of GCCs. As per an EY report, India accounted for 55 per cent of the world's GCC centres in 2022 and 1,580 centres in 2023. "It is projected that the GCCs in India will cross 1,900 centres by 2025 and 2,400 centres by 2030," IBEF noted. "GCCs played a significant role in this hiring growth, contributing over 1,10,000 new tech jobs in FY25, and ramping up demand for roles like data engineering, DevOps, and enterprise architecture," the report by job platform foundit stated. AI adoption is also growing substantially, with multiple reports claiming as many as 60-70 per cent of businesses in India will integrate AI in their daily operations by the end of 2025 or early 2026. The 'foundit Insight Tracker' report stated that while month-on-month hiring saw an 11 per cent drop due to "seasonality", consistent gains were being witnessed over the last three months. "In 2022–23, the sector experienced a significant correction, with a 22 per cent decline, largely due to global economic uncertainties and tech spending rationalisation. The tide began to turn in 2023–24, with hiring picking up by 9 per cent as market conditions stabilised and enterprises resumed digital investments. The latest data for 2024–25 points to a strong 16 per cent growth, underscoring renewed optimism and sustained demand for digital talent," the report noted. The report also claimed that startups providing IT services were hiring aggressively, thereby adding to overall expansion. "The IT hiring landscape has undergone a dynamic shift over the last five years. Startups, once cautious, have become aggressive recruiters, especially in AI and emerging tech, leading to fresher and specialist hiring. MNCs and GCCs, while continuing to anchor the market, have adapted with selective hiring and deeper engagement in tier-2 cities," the report stated. Cities like Bengaluru and Mumbai recorded a 9 per cent year-on-year growth in hiring, while Delhi-NCR reported a 7 per cent growth, reflecting steady demand for tech talent. In these cities, mid- to senior-level professionals with 4–10+ years of experience remain in high demand. In tier-2 cities such as Coimbatore, Vadodara and Jaipur, however, entry-level hiring is gaining more traction, as more and more satellite hubs are being created. Globally, too, the employment opportunities in the IT sector are set to witness an expansion. "The recently signed India-UK Free Trade Agreement (FTA) will further enhance the global hiring prospects with India having secured significant commitments on digitally delivered services for Indian service suppliers, especially in professional services such as engineering and computer-related services, among others, opening up new job opportunities," said Madan Sabnavis, chief economist, Bank of Baroda.
