In 2024, funds raised for Indian startups fell to $2.7 billion, the lowest in four years. SoftBank and Tiger Global issued smaller follow-on checks and remained cautious. With global investors on the sidelines, local family offices and hedge funds led the investments. Analysts expect startup funding to pick up pace in the coming months.
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Indian equity market shows promise as the Nifty 50 ends a three-week slide, closing nearly 2% higher. Key factors include positive macroeconomic indicators, a drop in the dollar index, and RBI's liquidity support. As markets anticipate volatility in a shortened week due to the Holi festival, FII activity, global market dynamics, and technical levels will be critical.
Udaan, a B2B e-commerce startup, secured a fresh $75 million in funding led by existing investor M&G, maintaining a $1.8 billion valuation. The company is also negotiating an additional $25 million in funding. The investment will enhance Udaan's supply chain and vendor partnerships.
Traditional jobs such as farmworkers and delivery drivers are expected to grow the most in numbers, while tech jobs, particularly in AI and machine learning, will see the highest demand in skills. Economic and technological changes could result in displacement of 8% of the workforce, but also create 14% new jobs.
Kabeer Biswas, co-founder of Dunzo, is set to lead Flipkart's quick commerce service, Minutes. Despite financial troubles and unpaid salaries at Dunzo, Biswas takes on the role as Flipkart joins intense competition in India's fast-growing quick commerce sector, alongside Blinkit, Zepto, and Swiggy Instamart.
Joann Inc, the fabric and crafts retailer, is shutting down all stores after 80 years of operation. Despite efforts to keep the company afloat, financial struggles and weak consumer demand led to its decision to close following a recent acquisition by GA Group.
Aragen Life Science, formerly GVK Biosciences, secures a $100 million investment from healthcare-focused private equity fund Quadria Capital. The investment will support Aragen’s strategic expansion and infrastructure development to meet growing demand for outsourcing services from US and Europe innovators. This move positions Aragen strongly in the pharmaceutical outsourcing market, enhancing its capabilities and accelerating program delivery.
Rohan Mirchandani, the 42-year-old co-founder of Epigamia, passed away from a sudden cardiac arrest. He established the company in 2013, introducing flavored Greek yogurt to India. Epigamia's leadership and board, including Mirchandani's family, will continue his work. His death is a loss to the entrepreneurial community.
India is discontinuing medium- and long-term options of its gold monetisation scheme due to evolving market conditions. From March 26, 2025, only short-term deposits will be accepted based on commercial viability. This move aims to reduce financial commitments and mitigate risks from gold price fluctuations. Existing deposits will remain intact until maturity.
Axis Securities recommends buying V-Mart Retail, anticipating an 8% growth, while Yes Securities sees a 33% potential rise for Godawari Power following its acquisition in the metal recycling sector. Elera Securities suggests investing in Indigo Airlines due to expected demand increase by FY26. ICICI Securities maintains a positive outlook on Emami, citing acquisitions as a growth driver.
India's November vehicle retail sales rose 11.2% to 32,08,719 units, driven by a 15.8% surge in two-wheeler demand due to festive spillover. However, passenger vehicle sales dipped 13.7% to 3,21,943 units, hampered by weak sentiment, limited product variety, and a lack of new launches, despite some support from rural markets.