A woman-founded startup based in Amaravati, Andhra Pradesh, has secured an investment of ₹40 lakh from Non-Resident Indians (NRIs). The startup, named Bringgg, aims to utilize this funding to launch four new services on its platform.
Bringgg, founded by Visruthi Yellapu, is a logistics startup operating out of Amaravati. The investment, sourced from two NRIs, is expected to bolster the company’s growth and expansion plans. The specifics of the four new services to be launched were not immediately detailed in the initial reports.
The funding highlights the growing interest from the diaspora in supporting entrepreneurial ventures within India, particularly in emerging startup ecosystems. Andhra Pradesh has been actively promoting its startup culture through various policies and initiatives, aiming to foster innovation and create employment opportunities within the state.
Recent government policies, such as the ‘Innovation and Startup Policy 2024-29,’ aim to nurture a significant number of startups and generate employment. These policies also include special incentives for women, Scheduled Caste, Scheduled Tribe, minority, and differently-abled founders, reflecting a broader push for inclusive growth. Amaravati, envisioned as a major economic and innovation hub, is a focal point for these development efforts.
The state’s efforts to attract NRI investment are part of a larger strategy to position Andhra Pradesh as a key player in India’s startup landscape. Initiatives like the proposed ‘Startup Bus Yatra’ originating from Amaravati aim to connect the diaspora directly with the state’s entrepreneurial ecosystem.
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The Chenab Times News Desk
