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GetVantange invested in over 750 companies, mostly consumer facing firms in FY24
Economic Times
·
1y ago
Medial
Alternative-financing firm GetVantage has invested in around 750 companies, mainly consumer brands, during the funding winter. The company offers non-dilutive growth capital, providing flexibility in fundraising and repayments for founders. Since its inception in 2019, GetVantage has funded 1,500 companies across various sectors. It recently secured an NBFC license from the RBI and launched funds to support SaaS businesses and women entrepreneurs. The platform aims to disburse INR 2,000 crore ($250 million) over the next 12-18 months, doubling its total investments since 2020.
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Swiggy Emerges Biggest Winner In A Mixed Week For New-Age Tech Stocks, FirstCry Slumps
Inc42
·
1m ago
Medial
In a volatile week for India's equity market, Swiggy emerged as a standout among new-age tech stocks, which mostly declined, with 20 companies experiencing drops between 0.51% and over 10%. However, 13 companies, including Swiggy, demonstrated gains of 0.11% to over 10%. Despite the varied performances, the market cap of these firms increased from $87.32 billion to $88.16 billion by the week's end, driven by positive market sentiment and economic factors.
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Stung By Unicorn Losses, Prosus Takes A Fancy For Early Stage Bets In India
Inc42
·
1y ago
Medial
Dutch investment major Prosus is shifting its India strategy from large bets and buyouts to seed and early stage investments. The move comes after some major investments in Indian startups by Prosus, including BYJU’S and Pharmeasy, have not yielded expected returns, while other portfolio companies are facing losses. The challenging market conditions and uncertainties around profitability and IPO timelines have prompted Prosus to focus on smaller investments in early-stage startups. Prosus has already invested more than $7 billion in Indian startups, mostly in unicorns like Swiggy and Meesho.
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Neo Asset Management makes first close of Rs 2,000 crore secondaries fund - The Economic Times
Economic Times
·
8d ago
Medial
Neo Asset Management has made the first close of its Rs 2,000 crore Neo Secondaries Fund, securing Rs 750 crore. The Securities and Exchange Board of India-registered Category-II alternative investment fund focuses on acquiring secondary stakes in profitable, unlisted Indian companies. Neo aims to offer an exit within two to four years. The fund has already invested in companies like Noble Hygiene, Purplle, and Fractal Analytics. Neo Group manages over Rs 13,500 crore in various sectors.
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Top consumer and consumer-tech deals of the year
VCCircle
·
7m ago
Medial
In 2024, the consumer and consumer tech sectors in India experienced a resilient deal activity. Private equity and venture capital firms notably invested heavily in direct-to-consumer (D2C) brands, driving rapid growth in the industry. This positive sentiment was fueled by hopes of economic recovery.
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Stars of Indian IT companies dim amid challenging demand situation
Economic Times
·
1y ago
Medial
The demand environment for Indian IT firms has turned challenging, leading to a downturn in the industry. This comes after a period of explosive growth post-pandemic. Factors such as conflicts, humanitarian crises, banking issues, and declining consumer demand have contributed to the worsening situation. The stars of Indian IT companies are currently facing a grim scenario.
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Adani’s Super App Push: Adani One Launches Co-Branded Credit Cards With ICICI Bank
Inc42
·
1y ago
Medial
Adani Group has partnered with ICICI Bank to launch two credit cards - Adani One ICICI Bank Signature Credit Card and Adani One ICICI Bank Platinum Credit Card, with annual fees of INR 5,000 and INR 750 respectively. The cards will provide up to 7% Adani Reward Points on spending within the Adani Group consumer ecosystem, including Adani One app, Adani CNG pumps, and Adani-managed airports. Adani One recorded an annual gross merchandise value of INR 750 Cr in FY24, with 30 million users.
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Procter & Gamble to Slash 7000 Jobs Amid Tariff Strain and Consumer Uncertainty
StartupTalky
·
2m ago
Medial
Procter & Gamble plans to cut 7,000 jobs, about 6% of its global workforce, over two years due to rising costs and reduced consumer demand. Primarily affecting non-manufacturing roles, this restructuring aims to streamline operations. The decision follows weaker-than-expected sales and is part of a broader trend among large companies facing economic challenges, including those influenced by tariffs and AI adoption. Major firms like Amazon and Intel are also pursuing job cuts for similar reasons.
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Inside Google's investment in the AI startup Anthropic
Economic Times
·
4m ago
Medial
Google has strategically invested in AI startups like Anthropic to bolster its position in the AI sector. Holding a 14% stake in Anthropic, Google maintains no voting rights or board influence and is set to further invest $750 million through convertible debt. Overall, Google has invested over $3 billion in the company. This investment activity is under regulatory scrutiny due to concerns over potential monopolistic advantages in the rapidly advancing AI technology landscape.
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Asian markets advance ahead of earnings reports by US tech giants
Economic Times
·
3m ago
Medial
Asian markets mostly advanced on Monday ahead of earnings reports from major U.S. tech companies, despite recent market turmoil linked to President Trump's trade war. However, U.S. futures fell with the S&P 500 down 1.1% and the Dow 0.9%. Oil prices also dropped over $1 a barrel. The dollar's decline has raised concerns about investor confidence in the U.S. The "Magnificent Seven" tech firms are poised to reveal their performance amid these uncertainties.
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Through heat waves and rain fury, businesses navigate climate change
Livemint
·
1y ago
Medial
Corporations in Mumbai are adapting their contingency plans due to the increasing impact of climate change, such as heatwaves, heavy rainfall, and floods. One business house had to change the flights of its global team due to heavy rains in Dubai. E-commerce and food delivery companies in India, including Flipkart, Amazon, and Zomato, are taking steps to protect their delivery workforce during heatwaves. Recruitment firms are also facing challenges in getting workforce during extreme weather conditions. Climate change also affects consumer firms, like Nestlé, which predicts a reduction in suitable coffee growing areas.
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