TRACXN TECH
Sebi framework for finfluencers; Nazara's Freaks4U deal
The Security and Exchange Board of India (Sebi) has approved a regulatory framework for financial influencers. This and more today’s ETtech Top 5.
Indian tech startup funding logs slight uptick at $4.1 billion in H1
Indian tech startups raised USD 4.1 billion in H1 2024, 4% higher than H2 2023, remaining fourth-highest funded country globally. Insights from Tracxn report highlighted funding trends and volumes in the Indian tech startup landscape.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
ETtech Deals Digest: Startup funding in May rises 62% on year to $817 million
New-age startups raised $817.2 million in May 2024, up 62% from last year, with top investor Venture Catalysts leading funding rounds for startups like Zypp Electric.
How Unacademy board tweaked targets for founders’ voting rights
Edtech unicorn Unacademy has changed the target for its cofounders Gaurav Munjal and Hemesh Singh to access additional voting rights through bonus shares issued to them in 2022. Industry sources said this move throws light on Unacademy’s changing ambitions as well as the broader sluggishness in the startup funding ecosystem.
Late-stage startup funding up 3x in April
Data from market intelligence platform Tracxn reveals a new trend in Indian startups. While overall funding for startups declined in the first three months of 2024, late-stage funding (for more established companies) saw a dramatic increase, more than tripling in April.
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Digit IPO: tempering tech valuations & other top startup stories this week
This is Pratik Bhakta in Bengaluru. Insurance startup Digit, by valuing itself at a discount of 25% to its last known private market valuation, seems to have stuck its neck out. And it’s a move that’s certainly got everyone talking.
SoftBank back at deal counter with Icertis deal talks
Tech VC in funding talks with portfolio co Icertis, which is stitching up a $150m secondary round
ETtech Deals Digest: Startup funding in April rises 21% on year to $564 million
In terms of deal volume in the month, total deals stood at 78, compared to 95 in March 2024 and 113 in April 2023. Sequentially, deal value went down about 26% from $765 million to $563.5 million.
Baron Capital raises Swiggy’s valuation to $12.1 billion; new digital competition law
The US-based asset manager has now marked up the fair value of its holding in Bengaluru-based Swiggy for the third consecutive time. The asset manager’s fund held a stake worth $87.2 million in Swiggy’s parent company as of December 31, 2023, up 17% from $74.4 million a quarter earlier.
ETtech Deals Digest: Funding crunch continues, investments down 40% in November to $409 million
New-age tech companies raised a total of $409 million in November across 63 rounds, according to data from market research firm Tracxn. Overall funding for the month was down 40% in terms of value compared to a year earlier, when startups raked in $682 million from 136 rounds.
ETtech Deals Digest: Startups raise $80 million funding in yet another dry week
A majority share -- $45.2 million -- of the total funding went to early-stage startups, making up 57% of the total weekly funding. Late-stage startups saw $30 million being pumped in as investments, while seed-stage companies received a mere $4.8 million.
The economics of evolving ecosystem: Why incubators need to be sustainable
The governments want incubators to be less dependant on grants and instead find other sustainable business models.
ETtech Deals Digest: Early-stage deals in focus as startup funding remains muted at $146 million this week
Indian startups secured $146 million in funding across 22 rounds this week, down 70% from last year’s $494 million across 46 rounds, according to market research firm Tracxn.
Indian startup funding at five-year low in Q3: Tracxn
The report, dated Wednesday (September 27) further indicated a 33% reduction in late-stage funding rounds, and drastic declines of 74% and 75% in early-stage and seed-stage funding, respectively, compared with the same quarter a year earlier.
ETtech Deals Digest: Startup funding hits $334 million this week on late-stage investment in Perfios
Funding activity was up 26% in the September 11-15 week, from $264 million raised in the corresponding week last year. However, it was flat on a sequential basis, rising a miniscule 1%.
ET Startup Awards 2023 methodology: how we arrived at the winners
What goes behind selecting the nominees and the winners of the ET Startup Awards, considered the most prestigious in the Indian entrepreneurial ecosystem.
ET Soonicorns Summit 2023: Here’s what you can expect
From startup showcases and unicorn playbooks to a distinguished speaker lineup and report launches, here’s a look at what you can expect at the ET Soonicorns Summit 2023, to be held on August 26 in Bengaluru and on October 27 at Delhi NCR.
ET Soonicorns Summit 2023: Key themes tracking the new growth frontiers for the Indian startup-tech economy
Ahead of the ET Soonicorns Summit 2023, to be held on August 26 in Bengaluru and later at Delhi NCR, we reveal the key themes and the power-packed tracks focused on creating a blueprint for building a resilient startup ecosystem and tracking the next frontiers of growth for the startup-tech innovation economy.
ETtech Deals Digest: Weekly funding value slides 89%, volume led by niche tech categories
Startups managed to raise only $55 million across 16 funding rounds during the week of July 8 to 14, a decline of 89% over the same period last year, when they raised $516 million across 65 rounds, according to data provided by market research firm Tracxn.
LawSikho ranked top Legal Edtech startup by Tracxn
LawSikho catered to over 9500 learners in the 2022 calendar year and has reached almost $6 million in annualized revenue run rate as of February 2023.
2023 holds little promise for tech IPOs as slowdown continues
While some IPOs appear to be in the offing this month, the mood among the companies, investors and the public is yet to be lifted
ETtech Deals Digest: tech slowdown continues, startup fundraising dropped 75% in January compared to last year
A majority of investments in January came for the late-stage startups, with $845 million being poured across 14 rounds.
Retail, fintech hit as startup funding dips 35% this year: Tracxn report
Retail and fintech sectors witnessed a fall of 57% and 41%, respectively, in amounts of funds raised in 2022, according to Tracxn’s India Tech 2022 annual report. Yet, these two sectors alongside enterprise applications remained top fundraisers during the year.
Tracxn Tech makes lacklustre debut, lists at 6% premium over IPO price
The issue was overall subscribed just above two times during the bidding process. The quota for retail bidders was subscribed 4.87 times, whereas institutional buyers' allocation was subscribed 1.66 times. The HNI portion fetched only 80% bids.
Festive cheer alludes Tracxn Tech in grey markets ahead of listing
Shares of Tracxn Technologies were available at a discount of Rs 3 apiece, compared to issue price of Rs 80 per share
Listing bound players' premia remain firm in grey market amid volatility
Similarly, Tracxn Technologies, whose IPO opened on Monday, is commanding a premium of Rs 8-10, about 10-12 per cent higher than its price band of Rs 75-80. The majority of brokerages have advised to avoid the issue.
Tracxn Tech IPO: Analysts cautious over valuations, investor exit; should you subscribe?
Tracxn Technologies aims to raise Rs 309.38 crore via its initial stake sale, which is entirely an offer for sale (OFS) of up to 3.86,72,208 equity shares with a face value of Re 1 each by the promoters and existing shareholders of the company.
Investors need to wait for a stable profit trend before investing in Tracxn Technologies
The company’s customer base includes venture capital and private equity investors, investment banks, corporates, government agencies, universities, accelerators and incubators. The customer base increased to 1,139 as of June 30, 2022 from 642 as of March 31, 2020.
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