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News on Medial
Thanks to SaaS, Chennai remains unperturbed by funding winter, claims report
Business Today
·
2y ago
Medial
The funding winter may have been sending chills across the start-up ecosystem, but it appears not to have penetrated Chennai’s humid climate. According to a report by global consulting firm PricewaterhouseCoopers (PwC), while metro cities such as Delhi, Mumbai, Bengaluru, Pune and others saw a decline in the number of start-up deals, Chennai, on the contrary, saw an uptick.
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Least amount of distress sales, shutdowns in SaaS: Upekkha report
Economic Times
·
1y ago
Medial
According to a report by Upekkha, a software-as-a-service (SaaS) accelerator and fund, the SaaS sector in India has witnessed the least amount of distress sales and shutdowns compared to other sectors. While the report indicates that funding for Indian SaaS startups decreased slightly in 2023, it predicts that the sector will continue to experience less disruption in the coming years. However, the report also emphasizes the challenges faced by SaaS companies in terms of revenue generation and market saturation, particularly for those that have raised significant funding without achieving substantial revenue growth. The report suggests that consolidation and acquisitions will be driven by past investors and that companies will need to focus on user interface and the integration of AI workflows to stand out. Deal activity, especially at the Series A stage, has been declining. Investors are now scrutinizing business metrics and sales distribution channels more thoroughly, indicating a shift away from the frenzy of investing in SaaS businesses purely due to FOMO.
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SaaSBoomi slashes startups’ enterprise value forecast for 2030 by 50%
Economic Times
·
2y ago
Medial
The forecast for SaaS (Software as a Service) startups' enterprise value in 2030 has unexpectedly dropped by 50%, according to a report. The plunge in projected value raises concerns for the future growth and potential of these tech startups. The article from Economic Times highlights the challenges and uncertainties faced by the SaaS industry. In a silver lining, the collective of SaaS and product companies says its 2030 revenue forecast for the startups remains strong at $50-$70 billion.
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Non-AI SaaS startups to face challenges in raising funds in 2024: Upekkha Report
Money Control
·
1y ago
Medial
According to a report by SaaS accelerator fund Upekkha, B2B Software-as-a-Service (SaaS) startups in India will need to integrate artificial intelligence, specifically generative AI, into their operations to stay relevant and attract funding in 2024. The report highlights the end of easy capital access, the importance of product-market fit for early-stage startups, and the potential impact of large language models. It also mentions the need for SaaS firms to offer unique solutions in a crowded and commoditized industry. The report predicts a rise in investments in AI-based SaaS startups and suggests that smaller SaaS firms may have the opportunity to list in India.
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No new SaaS unicorns so far in 2023 as funding winter lingers, says Bessemer report
Money Control
·
1y ago
Medial
The Software as a Service (SaaS) sector has not seen any new unicorn startups in 2023 due to the lingering effects of a funding slowdown, according to a report by Bessemer Venture Partners. The report highlights that investment activity in SaaS companies has been cautious, leading to a lack of new unicorns despite the sector's overall growth and potential.
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Hyundai India MD Predicts "Strong" EV Market Growth Until 2030
Inc42
·
9m ago
Medial
- EV growth in India expected to increase due to increased focus from companies and government support - Indian EV ecosystem still at early stage of electrification - Indian EV startups received 32 deals last year, thanks to government subsidies and increased investments - Ongoing funding winter did not deter Indian EV startups from securing investment deals - The MD of Hyundai Motor India projects a positive outlook for EV growth in the country.
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India’s SaaS sector tops $15 billion in revenue as IPO pipeline builds - The Economic Times
Economic Times
·
14d ago
Medial
India's software-as-a-service (SaaS) sector surpassed $15 billion in annual revenue for FY24, with 36 companies achieving over $100 million in annualised recurring revenue, as per a report by JM Financial. The sector grew at a CAGR of 24% from FY19 to FY24, driven by high margins and profitability. The sector's evolution includes a shift in valuation focus from growth to profitability, with vertical SaaS firms growing faster than horizontal ones. The outlook remains positive for sustained growth.
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Funding winter becomes harsher: VC funding in Indian start-ups drops by 74.6%
Business Today
·
2y ago
Medial
The funding winter in India appears to be turning harsh, going by the latest report of data and analytics company GlobalData. It revealed that 459 venture capital (VC) deals worth $3.4 billion were closed between January and May 2023. This is dismally low compared with the 851 deals worth $13.3 billion closed in the year-ago period.
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Chennai stands prominently as the capital of SaaS in the country: TN minister
Economic Times
·
1y ago
Medial
According to the Economic Times, Chennai is recognized as the SaaS capital of India, said the Tamil Nadu Minister. With a growing number of successful SaaS companies and a supportive ecosystem, Chennai is emerging as a hub for technology startups in the country. The city's reputation as a leading center for software development and innovation has played a crucial role in establishing its prominence in the SaaS industry.
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Fintech Dominates Secondary Transactions in 2023 and 2022, Followed by SaaS and E-commerce Peaks in 2021: Report
OutlookIndia
·
1y ago
Medial
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.
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Indian deep tech startups count surges in 2023 but funding plummets 77%: Nasscom
Economic Times
·
1y ago
Medial
India experienced a surge in deep tech startups in 2023, with 480 new ventures emerging, making it the third largest pool globally. However, these startups face challenges due to a funding winter, hindering their growth and global expansion. Despite the increase in startups, India lags behind in funding compared to other deep tech ecosystems. AI emerged as a popular area of focus, with the majority of startups driven by AI and receiving funding in this field. The report recommends increased funding, a supportive market ecosystem, and government initiatives to address these challenges.
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