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Space industry funding in India falls 55% in 2024, may pick up this year

VCCircle

VCCircle · 7m ago

Space industry funding in India falls 55% in 2024, may pick up this year

In 2024, funding for India's space industry dropped by 55% to $59.1 million, contrasting a global decline of 20%. This marks the first decline in at least five years, according to Tracxn. Despite high-profile missions like the Chandrayaan-3 lunar landing, total funding for Indian space startups over the past five years reached $354 million. A government fund aims to boost investment, with expectations of a rebound in 2025 as companies reach crucial milestones.

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‘Cost relief, improved consumption to boost ad industry in second half of 2024’

Livemint

Livemint · 1y ago

‘Cost relief, improved consumption to boost ad industry in second half of 2024’

Advertising agencies in India are optimistic about the second half of 2024, citing no change in government as a reason for their positive outlook. Despite challenging economic conditions in the first half of the year, including inflationary pressures and decreased consumption levels, the advertising industry expects business to pick up in the latter half. FCB Group India, owned by Interpublic Group of Companies (IPG), is experiencing substantial growth in the country and has reported double-digit growth in the first quarter due to new business wins. The company is focusing on organic growth and attracting more technology talent to fulfill clients' needs.

Space startup funding jumps in fourth quarter in a positive sign for 2024

Reuters · 1y ago

Space startup funding jumps in fourth quarter in a positive sign for 2024

Global investments in space startups increased by 31% in the fourth quarter, signaling a rebound in the industry. Funding in space companies reached $4.6 billion in the quarter and totaled $17.9 billion for 2023. This resurgence in funding is expected to continue in 2024 as investors inject billions of dollars into space startups. Legacy space companies also increased their acquisitions in 2023 compared to the previous year. The prospect of declining interest rates is boosting equity valuations and making mergers and acquisitions more likely in 2024.

Startup funding falls 30% on year to $73 million this week

Economic Times

Economic Times · 1y ago

Startup funding falls 30% on year to $73 million this week

Startup funding in the penultimate week of April 2024 witnessed a decline of 27.9% compared to the same period last year, totaling $74 million across 14 deals. However, the deal density improved to $5.3 million per deal, which is higher than the previous week's average. The top deals included funding rounds for omnichannel fashion startup Lyskraft ($26 million) and logistics software provider LetsTransport ($22 million). Other notable funding rounds were led by Acacia ($6.5 million), Dhruva Space ($9.4 million), Plane ($4 million), and Flashaid ($2.5 million).

Fintech Dominates Secondary Transactions in 2023 and 2022, Followed by SaaS and E-commerce Peaks in 2021: Report

OutlookIndia

OutlookIndia · 1y ago

Fintech Dominates Secondary Transactions in 2023 and 2022, Followed by SaaS and E-commerce Peaks in 2021: Report

According to PrivateCircle's Indian Start-Ups Deal Report 2023, Fintech and SaaS witnessed the highest number of secondary transactions in both 2023 and 2022 in India. The report tracked 117 start-ups valued at $500 million or more and found that Fintech consistently provided exits to investors, while SaaS showed resilience in this aspect as well. The report also highlighted a drop in start-up funding, with a 62% decrease in primary funding in 2023 compared to the previous year. Despite the slowdown, venture capital funds have sufficient capital for investments, and activity is expected to pick up later in the year. Lenskart raised the largest funding round of $500 million.

India's mutual fund assets cross $700 bn in May

VCCircle

VCCircle · 1y ago

India's mutual fund assets cross $700 bn in May

India's mutual fund industry experienced rapid growth in May, with assets reaching 58.6 trillion rupees ($701.90 billion), a record-breaking increase of almost 10 trillion rupees in less than a year. Equity mutual funds saw a month-on-month increase of 83% in inflows, with a preference for small- and mid-cap funds. The NSE Nifty 50 index has seen significant growth, up 55% over the past 39 months, thanks in part to mutual fund inflows. Additionally, systematic investment plans and sectoral and thematic funds also observed high inflows in May.

UPI Transactions Jump 11% MoM In March, Volume Nears INR 20 Lakh Cr Mark

Inc42 · 1y ago

UPI Transactions Jump 11% MoM In March, Volume Nears INR 20 Lakh Cr Mark

The transaction count on the Unified Payments Interface (UPI) increased by 11% month-on-month to 13.44 billion in March 2024. On a year-on-year basis, the transaction count surged by 55% from 8.7 billion. The transaction volume in March stood at INR 19.78 lakh crore, up 8% from the previous month and 40% from the previous year. The National Payments Corporation of India (NPCI) continues to introduce new features and services to drive UPI adoption. PhonePe and Google Pay dominate the UPI landscape in India.

Dealmakers see rebound after global M&A volumes hit decade-low

VCCircle

VCCircle · 1y ago

Dealmakers see rebound after global M&A volumes hit decade-low

Global M&A activity hit a decade-low in 2023 due to high interest rates and economic uncertainty, but bankers and lawyers anticipate a rebound as conditions improve. Total M&A volumes fell 18% to $3 trillion, the lowest since 2013. Private equity-led buyouts slumped 38%, resulting in reduced capital distribution. However, an increase in large deals in the oil and gas industry and signs of a pick-up in the fourth quarter indicate a potential recovery. Regulatory challenges, cross-border complications, and upcoming elections may remain as headwinds in 2024. Shareholder activism is on the rise, driving M&A activity.

Skyroot Aerospace posts Rs 55 Cr loss in FY23

Entrackr

Entrackr · 1y ago

Skyroot Aerospace posts Rs 55 Cr loss in FY23

Indian private space startup Skyroot Aerospace has reported a loss of Rs 55 crore ($7.3 million) in the financial year 2022-2023. Despite heavy investments in infrastructure, the Hyderabad-based startup has yet to generate revenue. However, with government support and investor interest, companies like Skyroot have significant potential in India's $100 billion space industry. Skyroot has raised $67 million to date and counts GIC as its largest stakeholder with a 29.20% stake.

VRO Hospitality raises $10 million to expand

Livemint

Livemint · 1y ago

VRO Hospitality raises $10 million to expand

Bengaluru-based VRO Hospitality has raised $10 million in a bridge funding round led by Axis Bank and Gruhas. The company, which operates 42 lounges and bars in India, will use the funds for acquisitions and expanding its portfolio of brands. VRO Hospitality aims to have 55 restaurants by the end of the financial year and 250 restaurants in the next four years. The funding injection will allow the company to further establish itself in the competitive hospitality industry.

Dealmaking to jump in 2024 but don’t expect irrationality: Avendus’ Neeraj Shrimali

VCCircle

VCCircle · 1y ago

Dealmaking to jump in 2024 but don’t expect irrationality: Avendus’ Neeraj Shrimali

According to Neeraj Shrimali, the Managing Director and Co-head of Digital and Technology Investment Banking at Avendus, dealmaking in India is expected to pick up in 2024 after a slowdown caused by global geopolitical concerns and weak macroeconomic conditions in 2023. However, he cautions against expecting irrationality in deals. Avendus was the leading investment bank in India in 2023.

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