Startup ecosystem sees sharp rise VC inflow; Building a hemp ecosystem in Uttarakhand

Happy Diwali,

Financial services firm Angel One has climbed to the position of India’s second-largest stockbroker by active client count, according to the latest National Stock Exchange (NSE) data.

By the end of October, the brokerage reported 69.98 lakh active investors, commanding a 14.97% share of the exchange's total 4.67 crore active client base.

Meanwhile, benchmark indices Sensex and Nifty edged lower during Sunday’s special Muhurat trading session as profit-taking halted a seven-day rally, snapping an eight-year Diwali winning streak.

The BSE Sensex dipped 28.62 points, or 0.04%, to settle at 80,999.40, with 16 of its constituents ending higher and 14 lower. During the special session on Diwali, it hit a high of 81,442.11, surging 414.09 points, or 0.51%, PTI reported.

In the world of technology, a new cybercrime ‘gold rush’ is emerging as more and more people use the internet. Per a BBC Future article, around two billion people are expected to come online for the first time by 2030, but this digital leap comes with serious risks. Rather than entering a simple web, these newcomers are stepping straight into sophisticated cybercrime traps powered by AI, automated scams, and localised fraud. 

As CrowdStrike’s Zeki Turedi notes, while the internet unlocks life-changing opportunities, today's digital landscape is far more complex and dangerous for first-time users than the one earlier generations navigated.

In today’s newsletter, we will talk about 

• Startup ecosystem sees sharp rise VC inflow
• Building a hemp ecosystem in Uttarakhand

Here’s your trivia for today: What iconic consumer luggage company was founded in 1971 by Dilip Piramal, named after a Roman goddess of victory? (Scroll down for answer)

Venture capital

Startup ecosystem sees sharp rise VC inflow

November began on a positive note for the Indian startup ecosystem with venture capital inflow seeing a sharp rise. In total, the amount was $263 million across 23 deals against $115 million raised a week ago. 

This week marked two notable milestones for the Indian startup ecosystem. Total weekly funding comfortably crossed the $200 million mark—rebounding after a four-week slump below that threshold. Simultaneously, jewellery brand GIVA snapped the ecosystem’s month-long megadeal drought with a $100 million round.

Key takeaways:

• Industry watchers expect that a post-US midterm slowdown in AI funding could work in favor of Indian startups.
• Consumer AI startup EloElo Group raised $80 million from Hornbill Capital, NBCUniversal, MIT Investment Co, Play Ventures, Kalaari Capital, Waterbridge Ventures and Griffin Gaming Partners.
• Peppermint Robotics raised Rs 100 crore (~$10.5 million) from pi Ventures, Crane Venture Partners and Asiana Fund.

Social impact

Building a hemp ecosystem in Uttarakhand

While pursuing a master’s in Social Entrepreneurship at the Tata Institute of Social Sciences, Pavitra Joshi decided to return to the mountains, determined to tackle regional challenges through enterprise. 

What began as a classroom project soon evolved into KumaonKhand, a social enterprise building a hemp-based ecosystem in Uttarakhand. In 2021, Joshi turned the initiative into a full-time venture alongside his mother, Sangeeta, and Anuj Sharma, founder and CEO of impact incubator Alsisar Impact.

Key takeaways:

• KumaonKhand’s product range is largely focused on hemp seed and hemp fibre. From hemp seed, they process hemp seed oil, which is in high demand in the skincare and pharmaceutical industries.
• The company uses hemp in its own skincare range: lip balms, face creams, moisturisers, and handmade, sulphate-free soaps. It also makes hemp protein powder that has 44 grams of protein per 100 grams, making it one of the best sources of vegan protein.
• Built using hemp-based materials, KumaonKhand’s factory incorporates hemp plaster and leftover hemp stalks as construction material. The material, known as hempcrete, is also being developed into a pre-mix plaster combining hemp and lime.

News & updates

• Binance hack: Days after Binance saw a massive heist of  $6.3 billion, the cryptocurrency exchange said that its finance chief Kaiser Ng is ​leaving the company to pursue another venture. Justin Yek, a longtime finance executive who was most recently vice-president of finance at Airwallex, is ​taking over as CFO.
• Infra push: Adani Enterprises Ltd plans an annual capital expenditure of Rs 35,000 crore to Rs 40,000 crore over the next few years, positioning airports, data centres, and a planned PVC complex as its primary growth drivers amid a broader infrastructure push.

What you should watch out for

• Analysts expect bullion to remain subdued next week, weighed down by geopolitical shifts in the US-Iran standoff, crude price swings, and upcoming inflation data shaping the interest rate path.
• Noel N. Tata will step down as Director and Vice-Chairman of Titan Company Limited on November 12, 2026, upon turning 70, in compliance with the Tata Group’s retirement and governance guidelines, the company informed stock exchanges.

What iconic consumer luggage company was founded in 1971 by Dilip Piramal, named after a Roman goddess of victory? (Scroll down for answer)

Answer: VIP

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