1947 Rise ☀️: 229
Discover more from 1947 Tech Newsletter 🇮🇳
1. Paytm Q3 revenue rises 42% to Rs 2,062 crore; net loss narrows to Rs 392 crore
In a letter to shareholders, Paytm founder and CEO Vijay Shekhar Sharma said that the company had achieved operating profitability in Q3, which is three quarters ahead of the guidance which was for the September quarter.
“This has been made possible due to the relentlessly focused execution by our team. The team was asked to focus on growth with quality revenues that contribute to the bottom line. We have achieved this milestone without losing sight on growth opportunities and keeping all compliances as well as risk factors under a strict watch,” he said.
Paytm Q3 revenue rises 42% to Rs 2,062 crore; net loss narrows to Rs 392 crore
2. Funding to Indian startups sinks to a 5-year-low in January as funding winter worsens
Private equity and venture capital (PE/VC) funding to Indian startups slumped to a 63-month low in January amid rising macroeconomic uncertainties, a trend that could continue for at least the first of 2023.
Indian startups raised $630 million in January from PE/VC investors across 121 deals, the lowest by value since September 2017, according to data shared by Venture Intelligence with Moneycontrol. In September 2017, startups raised $148.3 million across 39 deals, the data showed.
Investors have been going slow in funding high-growth ventures amid uncertainties caused by accelerating inflation, rising global interest rates, the specter of recession confronting the West, and the war in Europe that has disrupted supply chains.
Funding to Indian startups sinks to a 5-year-low in January as funding winter worsens
Podcast Episode
1947 Operator-angels ✨
Arjun Vaidya’s advise on building a brand for yourself or for your firm👇🏼
- Be genuine
- Genuinely help and not be transactional
- Be consistent
In this episode we covered:
- What drove Arjun to angel investing and his first angel investment.
- Arjun’s investing process.
- What kept Arjun going after 70 investors said no to him?
- What are Arjun’s biggest wins and misses and his learning from them?
- How is Arjun looking at India through V3 Ventures?
- Arjun’s advise for someone who is starting to build a brand in VC.
& more!
Watch full conversation ☀️ https://bit.ly/3XXbmpR
Worth your attention:
Bootstrapped Zerodha, Zoho become the most profitable new-age companies in FY22 Link
SaaS pips fintech as largest unicorn creator in 2022: Orios Venture report Link
Economic Survey 2023: Private equity investments in agritech surge 50% in four years Link
Digit Insurance to revamp $440 mln IPO again after regulator concerns Link
B2B cloud manufacturing startup CapGrid raises $7 million in fresh funding Link