UNICORN STATUS
Fintech sector will dominate future Unicorns at USD 58 billion: Hurun report
The total worth of India's future unicorns will stand at USD 58 billion, an increase of 1.2 per cent as compared to last year. Fintech sector leads with the highest number of companies that can become Unicorns in future.
Bluestone's unicorn round; Sorin’s Rs 1,350-crore fund
Happy Wednesday! Omnichannel jewellery startup Bluestone is nearing unicorn status with a potential $100-million pre-IPO investment. More on this in today’s ETtech Morning Dispatch.
Lesson for entrepreneurs: What are the common mistakes startup founders make and how to avoid them?
India has the third largest startup ecosystem in the world, with 1.17 lakh entities (DPIIT), nearly 1,710 venture capital funds, 794 accelerators and incubators (Tracxn), and several government initiatives like Startup India. Despite this fervour and support, financial and otherwise, the startup journey is extremely difficult.ET Wealth lists the typical mistakes most founders make and tell you how to tackle these
Unicorn sightings slump; Tata’s chip exports
Happy Tuesday! Despite deal activity in late-stage startups showing signs of a revival, new unicorns aren’t being birthed. This and more in today’s edition of ETtech Morning Dispatch.
India’s startup landscape: Funding winter continues as investment plummets
A new report brings out the continuing downward trend in funding, as investors remain more cautious and selective, even as India remained the fourth largest venture market in the world in 2023.
ETtech Deals Digest: Perfios, Lohum deals boost startup funding nearly 3x to $187 million this week
The two deals helped push up overall funding numbers by nearly three times to $186.6 million, deployed across 10 deals. This was up 188% from $64.9 million across 32 deals in the same week a year ago – March 9 to March 15, 2023.
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SaaS fintech startup Perfios secures $80 million from TVG, attains unicorn valuation
Warburg Pincus-backed Perfios is considering an initial public offering (IPO) that could raise about $500 million in India at a potential valuation of $2 billion. It is also chalking out plans to enter the US and European markets in 2024.
Decoding the digital competition law; Perfios turns unicorn
India’s consumer internet firms have expressed reservations about the ex-ante framework in the proposed digital competition law. This and more in today’s ETtech Top 5.
Value creation over valuation
Prioritising value creation over inflated valuations is crucial for the long-term health and sustainability of the ecosystem. While valuation measures a company's worth based on its perceived potential, value creation focuses on tangible benefits it delivers to customers, investors and stakeholders.
Norway-based reMarkable launches paper tablet in India; garners consumer interest
Based in Oslo, Norway, the brand created a niche product, an electronic paper tablet, which allows users to scribble and take handwritten notes, read and review documents. The device is powered by a proprietary operating system which does not offer internet browsing, emailing, messaging or any other features of a regular tablet or smartphone. Rather, it can convert handwritten notes to computer-generated text.
US-based voice AI startup ElevenLabs gains unicorn status after latest fundraising
ElevenLabs on Monday said it raised $80 million in Series B funding from investors led by venture capitalist Andreessen Horowitz along with entrepreneurs Nat Friedman and Daniel Gross, with participation from Sequoia Capital among others.
Byju’s versus BCCI; Nazara’s fundraise
The company noted that the case contained both law and fact, which could only be settled via arbitration. Counsel for the BCCI, however, denied any negotiations and sought more time to consult with the Board.
Startup story set for better script in new year after unicorns, funds fall in 2023
Startups with sustainable business models as well as the well-capitalised ones are expected to weather the current turmoil. And the horizon in 2024 is expected to be "exciting" as well as "challenging".
ET 30 Future Unicorns of Delhi-NCR report launched at the ET Soonicorns Summit 2023: The next league of disruptors, innovators and category creators forging sustainable growth
At the Delhi-NCR edition of the ET Soonicorns Summit 2023, eminent personalities and ET Editors took the stage to unveil the ET 30 Future Unicorns of Delhi-NCR report, produced in partnership with venture intelligence firm Tracxn. A storehouse of information, insights and analysis, the report is a comprehensive resource on the 30 high-growth soonicorns, positioned to power sustainable growth across sectors and build from India for the world.
ET Soonicorns Summit 2023: The Delhi-NCR edition is set to showcase India's future unicorns at the dedicated Soonicorns Spotlight track
Scheduled to be held on November 3, 2023, Delhi-NCR edition of the ET Soonicorns Summit 2023, will bring together key industry leaders to share insights into nurturing the next generation of unicorn founders. It aligns with India's vision to become a developed nation by 2047, with tech and innovation positioned to the pivotal levers of the growth story
ET Soonicorns Summit 2023: Experts from MEITY Startup Hub and TiE Delhi-NCR to unveil blueprints for Indian startup success and rise of future unicorns
At the ET Soonicorns Summit in Delhi on November 3, Jeet Vijay, CEO , MEITY Startup Hub and Geetika Dayal, Executive Director, TiE Delhi-NCR will deliver the keynote addresses on enabling Indian startups to become the engine for global economic growth and discuss the role of India’s deeptech startup opportunities in enabling the rise of future unicorns from sunrise sectors in India.
From building blueprints to becoming unicorns: BrunchLabs uncovers Shiprocket's run with BII in revolutionising e-commerce logistics
Excerpts from the podcast - "It was a series of things that didn't work.” “Sometimes it's good to suck at something. Because then you overwork to fix it.” “My advice is to think big and do small."
Edtech startup PhysicsWallah to launch 26 Vidyapeeth offline centres
Currently, the Noida-based startup has 67 centres operational in 38 cities. The offline centres will offer a curriculum for engineering and medical entrance examinations.
Unacademy elevates Sumit Jain to cofounder status
Jain joined Unacademy in April 2020 and cofounded the firm’s Graphy division which allows educators and creators to launch their own online courses.
AI startup Synthesia gains unicorn status after Nvidia-backed fundraise
The startup's technology helps more than 50,000 businesses including Amazon.com in creating custom AI avatars used in instructional and corporate videos.
SaaS pips fintech as largest unicorn creator in 2022: Orios Venture report
However, many of the SaaS unicorns reached the coveted $1-billion valuation on the back of inflated price-to-valuation ratios, Orios managing partner Rehan Yar Khan told ET.
India has 100 unicorns with a value at USD 250 billion, says Finance Minister Nirmala Sitharaman
"I am saying all these things because, even as you graduate from here, you all can become entrepreneurs and create jobs for others. It is not the world were entrepreneurship is worrisome or entrepreneurship has risks. It may have had the risks, (but) it is possible for you all to become entrepreneurs yourself," PTI quoted her as saying.
Venture Capitalists aim to breed dragons among herd of unicorns to extract more value
In recent times, investors made a beeline for investing in unicorns and FOMO is a dominant emotion amongst fund managers. But how do we explain it to our Limited Partners i.e. investors in the fund. To the layman, following the business press, it may be a mystery as to why investments in a few unicorns do not lead to high returns for a fund.
Cybersecurity firm Perimeter 81 hits unicorn status with $100 million fundraising
Perimeter 81 offers secure network solutions for the hybrid workforce on its cloud-based platform, including Zero Trust Network Access, Firewall as a Service, and VPN as a Service.
SaaS firm Kovai.co charts product-led growth strategy for unicorn status
The London-headquartered company cut its teeth in the business by building products for the Microsoft ecosystem, including software for the technology leader’s Azure cloud platform, but diversified to building standalone products in segments such as knowledge base software for enterprise products.
Just getting started
Growth- and late-stage deals comprise around 85% of the total funding. Deals in all stages of funding showed growth in CY21 but growth- and late-stage deals stand out with about 50% growth in deal count and more than 2x growth in average deal ticket size.
India, a galloping ground for unicorns
The government is expecting technology stacks built on 5G cellular services, public digital platforms, semiconductor designing and electronics manufacturing to yield a new generation of unicorns. This could yield a multicorn forest.
Aiming for unicorn status, building SaaS ecosystem in Coimbatore, says Kovai.co
Kumar said Freshworks' Nasdaq listing had fuelled his ambitions to take his own company public, while outlining a roadmap for the winner in the Bootstrap Champ category at the Economic Times Startup Awards 2021.
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