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BII’s India bets slumped last year even as global investments remained flat
VCCircle
·
9m ago
Medial
British International Investment (BII), a development finance institution backed by the UK government, reduced its investments in India in 2023 while maintaining its global investments at a similar level. BII made new commitments of about £1.3 billion in various asset classes in India. The reduction in India investments by BII may reflect a shift in investment strategy or market conditions.
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FDI inflows remain strong despite global volatility: Piyush Goyal - BusinessToday
Business Today
·
1m ago
Medial
Despite global volatility, Foreign Direct Investment (FDI) inflows have remained robust, with a 14% increase during the last fiscal year in comparison to 2023-24, reaching USD 71.3 billion. The total inflow, which includes equity inflows, reinvested earnings, and other capital, amounted to USD 81.04 billion. This growth reflects strong investor confidence and a resilient economic environment capable of attracting substantial foreign investments even amid global economic uncertainties.
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Monsoon rains dent state retailers' diesel sales, data shows
Money Control
·
10m ago
Medial
Indian state retailers experienced a decline in diesel sales in the first half of September compared to August due to monsoon rains affecting industrial activity and mobility. Sales of gasoline remained flat, but were down compared to last year, while liquefied petroleum gas sales increased from the previous month, but were still lower than last year. Aviation fuel sales also decreased compared to the previous month. Overall, fuel demand in India typically falls during the monsoon season.
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Brokerages slash target price on Jubilant FoodWorks despite seven-fold jump in net profit
Money Control
·
1y ago
Medial
Jubilant FoodWorks, the operator of Domino's Pizza in India, reported a consolidated net profit of INR 208.2 crore ($28.4 million) for the March quarter, showing a significant increase compared to the same period last year. However, brokerage firms were not impressed with the company's performance and have slashed their target prices. Analysts believe that to improve valuations, Jubilant needs to focus on reviving same-store sales growth, which remains a challenge. Shares of Jubilant FoodWorks have remained relatively flat over the past year, performing much weaker compared to the Nifty 50 index.
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Space startups funding continues to recover as investors bet on government spending
Economic Times
·
1y ago
Medial
Global investments in space startups reached $2.41 billion in Q2, marking three consecutive quarters of growth, according to Seraphim Space. While investments in Europe remained flat, North America saw a decrease of around 50%. However, it is too early to determine whether this suggests a weak 2024 or a bumpy recovery. The largest Chinese space tech deal to date, a $943 million investment in Shanghai Spacecom Satellite Technology, contributed to the strong quarter, indicating a growing determination among Chinese investors to rival US capabilities in space. Overall, the space investment market is predicted to continue growing in 2025.
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SoftBank turns around in FY25: Clocks $7.4 Bn profit, bets big on AI and chips
Entrackr
·
2m ago
Medial
SoftBank Group has posted a net profit of $7.4 billion in FY25, marking a sharp reversal from a loss of $1.4 billion in the previous year. The turnaround follows aggressive bets on artificial intelligence and semiconductor plays. The Japanese conglomerate’s revenue rose 7.2% year-on-year to $45.97 billion, while income before tax jumped to $10.8 billion from just $367.5 million last year. SoftBank attributed the gain to a $23.5 billion investment profit from holdings in Alibaba, T-Mobile, and Deutsche Telekom. Its investment business, led by founder Masayoshi Son, recorded ¥3.41 trillion ($21.7 billion) in gains. This included ¥1.88 trillion ($11.94 billion) from Alibaba and ¥1.35 trillion ($8.58 billion) from T-Mobile. However, these were partially offset by a ¥2.03 trillion derivative loss, largely due to prepaid forward contracts using Alibaba shares. The performance of the Vision Fund segment remained mixed. While Vision Fund 1 clocked a ¥940 billion gain ($5.97 billion), Vision Fund 2 posted a loss of ¥526 billion ($3.34 billion). The group also incurred a ¥491.8 billion ($3.17 billion) charge related to third-party investor interests in the Vision Funds. A large part of Vision Fund 2’s losses came from a drop in the value of companies like Ola and Swiggy, which saw their stock prices and valuations fall. SoftBank said the value of its publicly listed investments under Vision Fund 2 fell by 21.7% in the last quarter. Meanwhile, SoftBank is doubling down its investment in AI infrastructure. It has committed up to $30 billion to OpenAI Global and is acquiring US-based chipmaker Ampere for $6.5 billion. The group also launched the “Stargate” project — a $500 billion initiative to build large-scale AI data centers. Despite the return to profitability, SoftBank flagged macro uncertainties including FX volatility, regulatory risks, and performance variance in its private market bets. The company will propose a year-end dividend of ¥22 ($0.14) per share, taking the full-year payout to ¥44 ($0.28), unchanged from last year.
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US Markets recover from previous losses amid rate cut expectations; GIFT Nifty declines
Money Control
·
1y ago
Medial
Global markets traded positively on February 29th, driven by expectations of rate cuts in the US during the first half of the year. The S&P 500 and Nasdaq both saw gains, while the Dow traded slightly lower. The GIFT Nifty traded flat to mildly negative despite strong Q3 GDP growth, as concerns about the sustainability of economic expansion persisted. The German Dax saw bullish movement, while other European markets had mixed performance. Asian indices experienced marginal declines, but Indian indices ended the session positively after high volatility. Oil prices remained positive.
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General Atlantic takes a haircut from one of its biggest India PE bets
VCCircle
·
11m ago
Medial
Private equity firm General Atlantic has made its second full exit of the year in India. The company, which focuses on making late-stage venture capital and growth equity investments, has been actively selling off its holdings over the past 12-18 months. The latest exit comes as General Atlantic continues to monetize its investments in the region.
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Oister Global floats $53-mn fund to make LP-style bets
VCCircle
·
1y ago
Medial
Investment firm Oister Global has launched a fund worth $52.7 million to invest in venture capital and private equity firms in India. The Oister India Pinnacle Fund will target early, growth, and late-stage VC and PE funds that support businesses in consumption-driven and emerging technology-led sectors. The fund plans to back five funds with investments ranging from $5.4 million to $16 million. Oister Global primarily invests in top funds and has previously backed companies such as Blume Ventures and Stride Ventures. The fund aims to make its first close in May.
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Sensex, Nifty have a muted end to 2024 but log ninth annual rise
VCCircle
·
7m ago
Medial
Indian benchmark indexes Sensex and Nifty ended the year muted despite recording a ninth consecutive annual rise of 8.5% in 2024. The Nifty 50 closed flat at 23,644.8 points, while the BSE Sensex dropped by 0.14% to 78,139.01. The decline was primarily due to a drop in IT stocks, influenced by higher U.S. Treasury yields, making emerging markets less attractive. The small-cap sector rose, while midcaps remained flat amid broader Asian market declines.
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Startup funding up 15% in September as late-stage deals make comeback
Money Control
·
1y ago
Medial
Startup funding in India increased by 15% in September compared to the same month last year, with close to a billion dollars raised across 41 deals. This boost was driven by late-stage deals, including three rounds exceeding $100 million each. However, early-stage deals remained low during this period. The average ticket size for investments rose to $24 million. Despite the increase in funding, the overall sentiment in the startup ecosystem is down, and the total funding for the first nine months of 2023 is significantly lower than the previous year. The cautious approach is influenced by factors such as rising interest rates and concerns about overvaluation.
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