FDI Circular 2017 - Startup Context
Highlights in the context of Startups:
Startups can now raise up to 100% of funds from foreign venture capital investor (FVCI)
Start-ups can now issue equity or equity linked instruments or debt instruments to FVCI against receipt of foreign remittance.
Start-ups can issue convertible notes to person resident outside India. A person resident outside India (other than citizens/ entities of Pakistan and Bangladesh) will be permitted to purchase convertible notes issued by an Indian start-up company for an amount of Rs25 lakh or more in a single tranche. NRIs can also acquire convertible notes on non- repatriation basis.
A start-up company engaged in a sector where foreign investment requires government approval may issue convertible notes to a non-resident only with approval of the government. more
Please check this link. this is list of all companies month on month that have got funded. I hope this helps. more