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News on Medial
African startups seek an 'angel' amid myriad funding challenges
Economic Times
·
2y ago
Medial
Startups in Africa face myriad hurdles, from laws and regulations and lack of infrastructure to a fragmented continental market. But funding, in a continent that lacks intrepid individual investors to provide support, is a persistent and major headache.
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Related News
D2C startup funding in India fell 18% in 2024 to $757 million: Report
Economic Times
·
3m ago
Medial
In 2024, India's direct-to-consumer (D2C) startups raised $757 million, an 18% drop from 2023 and far below 2022's $1.6 billion, according to Tracxn. This decline results from investor caution amid global economic challenges, market saturation, and high customer acquisition costs. Despite this, organic beauty, online jewelry, and beauty/personal care startups led funding. Bluestone's $71 million funding was notable. Early-stage funding saw growth, while late-stage plummeted by 50%. India ranked second globally in D2C funding.
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Ecommerce roll-up companies pause brand buyouts, seek funds for survival
Economic Times
·
1y ago
Medial
Ecommerce roll-up companies, including Goat Brand Labs, are facing challenges and pausing brand buyouts as they seek fresh capital amid a slowdown. Smaller startups like 10club and Upscalio are looking to be acquired, while bigger players like Mensa Brands and GlobalBees focus on sustainable growth. Good Glamm Group, after acquiring brands like The Moms Co, is expected to have slower growth as it tries to reduce burn and achieve profitability. Goat Brand Labs needs capital to service existing debt and faces challenges in offline sales. The roll-up ecommerce model is now viewed with skepticism.
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Indian founders are quitting at a rapid pace
Inc42
·
1y ago
Medial
Over 30 Indian startup founders and CEOs left their roles in 2023 amid challenges like the extended funding winter, economic pressures, and business restructuring. Notable exits include founders from Zomato, ShareChat, Teachmint, and ZestMoney, among others. Some stepped down for personal aspirations or to pursue new ventures, while others left amid governance issues. Second-time founders also contributed to the creation of new startups. The leadership changes reflect the dynamic landscape of India's startup ecosystem in response to evolving challenges.
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Flat6Labs set to onboard overseas LP for Africa Seed Fund
VCCircle
·
6m ago
Medial
Flat6Labs, a venture capital firm focusing on the Middle East and Africa, is preparing to onboard an overseas limited partner for its Africa Seed Fund. The Cairo-based firm, managing over $85 million in assets, has been operational since 2011, investing in seed and early-stage startups. This move represents an effort to expand its funding sources and further support entrepreneurial growth within the African region.
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Moove backer LoftyInc marks first close of latest fund
VCCircle
·
5m ago
Medial
LoftyInc Capital, a pan-African early-stage venture capital firm, announced the first close of its latest investment vehicle, LoftyInc Alpha Fund, raising $43 million. The Lagos-based firm, an early investor in three unicorn startups, has significantly surpassed the halfway mark of its target corpus with this first close. LoftyInc continues its focus on supporting and investing in promising startups across the African continent, reinforcing its position in the venture capital industry.
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New-age companies end year of reckoning with stronger business, better bottomline
Economic Times
·
7m ago
Medial
In FY24, over two dozen Indian startups improved their financial performance by focusing on healthier economics amid a funding crunch. Companies like Purplle and PhonePe posted better margins, while some like ElasticRun saw declines. Startups shifted towards scaling core businesses and improving unit economics. Despite a moderate improvement in funding raised, fintech and cloud kitchen sectors faced challenges. Regulatory pressures continue to impact fintech, with FY25 expected to be tough, though some firms are planning IPOs.
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CARS24 to Slash 120 More Jobs Amid Major Restructuring Drive
StartupTalky
·
2m ago
Medial
CARS24 is undergoing a major restructuring, laying off an additional 120 employees from its non-core verticals after let going of 200 last month. The company is closing or scaling down these sectors, including its business-to-business automotive parts platform, Inspare, affecting 80 jobs. Affected employees are receiving severance packages and being encouraged to seek other roles. The startup, valued at $3.2 billion, is focusing on strengthening its core operations amid financial challenges.
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Govt recognises 1,14,902 entities as startups as on October 31
Economic Times
·
1y ago
Medial
The Indian government has recognized 1,14,902 entities as startups as of October 31st, according to Commerce and Industry Minister Piyush Goyal. These startups are eligible to seek fiscal incentives under the Startup India Action Plan, which includes income tax exemption for three years. The action plan covers various areas such as simplification and handholding, funding support, incentives, and industry-academia partnership. The gems and jewellery export industry also faced challenges due to subdued demand in major export destinations and availability of raw materials at competitive rates.
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Space startups face uncertainty as US cuts federal spending, report says
Economic Times
·
3m ago
Medial
U.S. federal budget cuts have impacted space startups, with a 12.5% drop in funding in the first quarter, according to Seraphim Space. These startups, heavily reliant on government contracts, face delays and cancellations due to spending reductions. Despite earlier investment momentum, current uncertainty, influenced by geopolitical tensions and protectionist trade policies, is creating challenges. However, commercial space companies increasingly play critical roles in cost-effective missions amid economic uncertainties.
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The Rise of Impact Startups: Balancing Profit and Purpose
StartupTalky
·
1y ago
Medial
The world of entrepreneurship is experiencing a major shift - the rise of "impact startups" that aim to balance purpose and profits. These mission-driven companies seek to make a positive social or environmental impact, while also focusing on financial sustainability. As impact investing gains momentum, impact startups are attracting increasing attention and funding. The article explores the definition and characteristics of impact startups, the rise of conscious consumerism, access to impact capital, challenges they face, and the potential for partnerships with large corporations. The road ahead for impact startups involves developing effective impact measurement frameworks and governance structures to maintain the delicate balance between purpose and profits.
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