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Startup investment platform Rainmatter to receive Rs 1 B from stockbroking firm Zerodha

The start-up investment platform Rainmatter has received an additional Rs 1,000 crore from the cash-strapped stockbroking firm Zerodha.

“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 Nithin Kamath, co-founder and CEO of Zerodha, in a blog post.

Over the past seven years, Rainmatter claims to have partnered with over 80 startups and invested close to Rs 400 crore. The company specializes in working with fintech startups. However, it has now been expanded to include those assisting others in making healthier decisions, obtaining education, and tackling the much more challenging issues of climate change and generating income.

Several well-known startups, including CRED, Fi, Indiagold, FinShot, Jupiter, Smallcase, Wintwealth, Ultrahuman, Stoa, and Agnikul, received funding from Rainmatter in the early stages of their development.

The profits from the investments, in accordance with Kamath, are used to support additional entrepreneurs and the Rainmatter Foundation in addition to providing financial returns for the company.

One of the most profitable startups in the Indian startup ecosystem is Zerodha. The company reported Rs 4,964 crore in revenue and Rs 2,094 crore in profit for FY22. The FY23 financial data is still forthcoming.  Additionally, the company disclosed ESOP buybacks totaling Rs 265 crore during FY21 and FY22.




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