TRACXN TECH LISTING
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.
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
The rise & rise of new-age stock brokers; and other top tech, startup stories this week
A crop of tech-first stockbrokers is not only leading from the front in adding new customers, they’re also generating strong revenues and profits. These stock-broking platforms, which have diversified beyond stock trading to position themselves as full-fledged financial services firms, have left behind the traditional players in terms of user sign-ups.
2023 Year in Review: How money followed deeptech companies at tech’s frontier
Deeptech is a term for businesses using advanced science and technology to find solutions for complicated problems across over a dozen sectors. The year saw a steady increase in investor interest in high-tech innovation-focused companies.
Deeptech, AI warm up the tech talk at Slush 2023; and other top tech, startup stories
Slush 2023 saw over 13,000 participants, including 5,000 startup founders and operators, in addition to around 3,000 investors managing a combined total of $3 trillion in assets.
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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.
Fintechs shuffle the pack to come up with aces; and other top tech, startup stories of the week
Even fintech infrastructure provider Perfios has roped in Sumit Nigam as chief technology officer, who was previously the engineering head at BigBasket, and Anu Mathew as its new chief people officer from Pine Labs with an eye on an eventual listing.
Mamaearth parent Honasa’s IPO at a crossroads, and other top tech, startup stories this week
This week the much-awaited initial public offering (IPO) of omnichannel retailer Honasa Consumer Ltd, the parent of beauty and personal care brands such as Mamaearth and The Derma Co, was launched.
Bleak days ahead for IT firms as macro trends crimp spending; and other top, tech stories this week
Reluctance by clients to go for large spends on digital transformation over the past few quarters has taken a toll on big IT firms. Subdued macroeconomic trends have meant cutting down on discretionary spending and projects that do not immediately require investments.
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.
Digital lending at an inflection point, and other top tech, startup stories this week
The digital lending sector in India is experiencing an inflection point after years of challenges. Industry-level NPAs are decreasing, credit demand is increasing, and investors are showing interest in the sector again. Fintechs have dominated the unsecured lending space, with the market share of fintech lenders in the personal loans sector increasing from 13% in 2018 to 47% in 2023.
Winners of The ET Startup Awards 2023 to be feted today, and other top tech, startup stories this week
The Economic Times Startup Awards, honoring Indian entrepreneurs, will take place in Bengaluru. The winners across eight categories were announced, including OfBusiness as Startup of the Year and Jishnu Bhattacharjee of Nexus Venture Partners as Midas Touch winner. The event will also feature a panel discussion on sustainable businesses.
Public markets pricking the valuation bubble & other top tech, startup stories of this week
After a slowdown in technology IPOs in 2022, several tech companies including Arm, Instacart, and Klaviyo have returned to raise funds from the public market. However, the valuations of these companies have fallen significantly compared to their peak valuations. Instacart, for example, is aiming for a $10 billion valuation, which is only a quarter of its peak valuation of $39 billion. The sentiment in the market has shifted, and investors are now looking for right-sized offerings rather than inflated valuations.
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.
ETtech Deals Digest: startups see rise in funding this week led by Lenskart, PhonePe
Total of $782 million was poured into Indian startups in this week across 25 rounds, a 34% jump compared to the same period last year when startups raised $582 across 66 rounds, according to data provided by market intelligence firm Tracxn.
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
In-depth: How startups are pruning costs as funding continues to plummet
In January, Indian startups raised only $1.38 billion in venture funding, nearly 70% lower than in the same period of 2022, reflecting the slow pace of fundraising, data from Tracxn, a platform for privately held startups, showed.
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.
With $10.8 billion, Bengaluru top city on startup funding in 2022
Startups based in Delhi and Chennai registered $1.2 billion each in funding, followed by Pune at $1 billion, according to data provided by Tracxn, a leading global market intelligence platform.
2022 Year in Review | Is the startup IPO party over?
The market for initial public offerings fell off a cliff in 2022 in India and around the world. In India, IPO activity saw a dramatic slowdown in 2022 after a record-breaking 2021. Read on to find out why, and what to expect in 2023.
ET Startup Awards, Infosys kind of allows moonlighting and other top stories
ETSA comes at a time when the global tech startup ecosystem is surrounded by economic and geopolitical turmoil. The volatility in valuations of publicly listed companies, which began in the US late last year, is spilling over into the private markets.
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.
Early-stage deals in India more than doubled to $2 billion in Q1 2022: report
Total funding in the first quarter of FY22 was up nearly 80% year-on-year (YoY) to $9.2 billion from $5.1 billion in the same quarter last year.
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