In Q3 2019, startups in Mumbai saw a drop in funding activity and interest from investors
To lift up the spirits of Mumbai startup ecosystem, Pulse42 by Inc42 brought a night of unadulterated fun at the Dome Intercontinental
With over 80 startups and investors converging for a no-agenda evening of chilling, Pulse42 proved to be a massive hit
Mumbai is known as the commercial capital of India, seeing as it is home to the Bombay Stock Exchange as well as the National Stock Exchange. With India’s biggest industrialists setting up their headquarters in the city, it’s natural that Mumbai is known as the financial epicentre of India, despite hugging the Western coast.
Housing the most number of fintech startups, Mumbai has attracted many investors and entrepreneurs from across the world over the years. However, of late it has seen a decrease in startup activity. According to Indian Tech Startup Funding Report Q3 2019, by Inc42 DataLabs, while Delhi-NCR and Bengaluru startups secured around $1.28 Bn and $1.27 Bn funding respectively, Mumbai startups were able to secure just $223 Mn.
While the reason behind this lack of activity in the city can be attributed to a lot of factors, one that has a major impact is the lack of connectivity between startups, investors and other enablers. For the city to grow and progress, it is vital that every member of this ecosystem is well connected.
Understanding this need and necessity, Pulse42 by Inc42 brought the community closer in a night of unadulterated fun — far away from boardrooms and meetings. Pulse42 is Inc42’s flagship tech party which aims to connect the investor community and startups in an evening full of good music, food and cocktails. The event returned to Mumbai after two years, and with applications open for every stakeholder in Mumbai’s startup ecosystem, it turned out to be much bigger than expected.
A gathering of over 80 founders and investors came together at the 12th edition of Pulse42 on October 16 at Mumbai’s Dome Intercontinental right on the glittering Marine Drive. The stunning location was the perfect setting to forge new relations, expand networks and take a break from the grind of work. Pulse42 witnessed over 40 venture capital firms including firms such as Bexley Advisors, Blume Ventures, Venture Catalysts, TiE Mumbai, Mumbai Angel Networks among others.
With a breathtaking view and a luxurious vibe, Dome Intercontinental was the perfect venue to help the guests unwind and chill over food and cocktails. And isn’t that the perfect way of making new bonds and friendships?
With the support of annual partners—NetApp, AWS, Times Internet, Paytm and HSBC—Pulse42 turned out to be better than our expectations.
“Considering the decrease in investment activity in the city, we knew that an event like Pulse42 would be very well received as it is all about lifting the spirits of the ecosystem. And a testament to that is the amazing turnout we saw and the great reviews we have received from the attendees,” said, Pooja Sareen, cofounder, Inc42.
At Inc42 we know that the ecosystem has plenty of issues and challenges, but we also realise that they are not insurmountable and that bringing people together will always spark off more collaboration and innovation. Stay updated with more such upcoming events and initiatives by Inc42, and keep following us to know what’s coming next.