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Will funding hibernation end for Indian startups? Investors see inflow rebound in 2024

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Will funding hibernation end for Indian startups? Investors see inflow rebound in 2024

Startups funding in India witnessed a significant decline of 40 per cent in 2024 from January to March as compared to the same quarter last year. Indian startups raised $2 billion funds in the January-March quarter, while the figure was $3.3 billion in the year-ago quarter, according to data sourced from market research firm Tracxn.

Indian startups ecosystem has already added two to its fleet in 2024 so far — fintech SaaS Perfios and Bhavish Aggarwal’s AI venture Krutrim. Investors believe that the scenario in India has been milder than expected this year as the growth of Indian economy encourages investment in new ventures.

“Unlike many global markets, India did not experience significant contraction due to government’s robust spending on infrastructure and a vibrant consumer market,” said Anirudh A Damani, Managing Partner Company of Artha Venture Fund.

He said the ‘s strong performance, particularly in SME IPOs, has not only enriched the sense of wealth but also supported a healthy IPO market that encouraged more investment into the ecosystem.

Damani asserted that the Indian startup ecosystem is poised for rapid recovery and growth, outpacing global VC markets. “We are on the brink of a robust bull run, making this an ideal time for investors to engage and for startups in need of capital to secure funding swiftly.”

The Artha Venture Fund further anticipates increased global investment, attracted by India’s strong economic fundamentals and a historic-low level of foreign portfolio investment in Indian markets.

Nowadays, are using debt funding, rather than only relying on traditional equity funding, to manage operational expenses and enable growth without premature equity dilution, Recur Club founder Eklavya Gupta told Livemint.

“Regulatory improvements are enhancing transparency and safety in debt markets, and initiatives like the RBI’s Retail Direct Scheme are attracting a broader range of investors, stabilizing the investment climate,” he said while suggesting businesses to innovate and excel in a dynamic financial landscape.

Appalla Saikiran, founder and CEO of SCOPE recommended startups to direct the shift in , advancing strategies to survive amidst fluctuating investor sentiment. This provides an opportunity to create more sustainable ideas and look forwards for long term success, he said.

“The flow of cash is not only hindered into the startups but also into VCs, as they struggle to raise new funds. The limited number of LPs in the market and the prevalence of “zombie VCs” exacerbate the situation. Incentivizing foreign venture funds to establish a presence in India could help revitalize the investment landscape,” he added.

Ukrainian minister detained over suspected corruption: Prosecutors

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Ukrainian minister detained over suspected corruption: Prosecutors

Ukraine’s Agriculture Minister Mykola Solsky was detained after being named a formal suspect in a multimillion-dollar corruption inquiry, prosecutors said Friday.

Blighted by severe corruption scandals since the fall of the Soviet Union, Kyiv has pledged to bolster its anti-graft efforts as part of its bid for European Union membership.

Solsky was accused of illegally seizing land worth more than $7 million when he was the head of a major farming company and a member of parliament.

An anti-corruption court ordered him to be held in custody until June 24, prosecutors said. Bail was set at 75.7 million hryvnias ($1.9 million).

Earlier this week, Solsky offered his resignation and promised to cooperate with the probe.

Prosecutors said Friday that they had also charged a dozen other people suspected in the case, including civil servants.

Solsky, who owned a number of farming businesses, was elected to Ukraine’s parliament in 2019 and was appointed agriculture minister in March 2022.

Several cases of corruption have emerged in Ukraine since Russia invaded in February 2022, although they have typically involved lower-level officials and been related to army procurement.

President Volodymyr Zelensky last year sacked the country’s defence minister over a series of procurement scandals in the army.

CIBIL: Applying for an unsecured loan? These are the credit score requirements

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CIBIL: Applying for an unsecured loan? These are the credit score requirements

The CIBIL score requirements for vary from banks to banks and depend on a range of factors such as current employment, income, existing loans, and the .

There is no denying the fact that banks tend to lend to borrowers who have good to excellent credit scores for unsecured loans.

This is how banks view a range of credit scores:

Excellent Credit Score (Above 750): Borrowers with excellent credit scores usually have a higher chance of qualifying for unsecured loans and may also be given better interest rates and terms. Banks view them as low-risk borrowers who are likely to make payments on time.

Good Credit Score (between 700 and 749): Borrowers with good credit scores may qualify for loans, but they might not receive the most favourable interest rates and terms. However, banks view them as low risk.

Fair Credit Score (between 650 and 699): Borrowers with fair credit scores are vulnerable to face a higher degree of scrutiny from at the time of applying for unsecured loans. They may qualify for loans, but might encounter higher rates of interest and stricter terms.

Poor Credit Score (lower than 650): Borrowers with poor credit scores may find it challenging to qualify for unsecured loans from traditional lenders. They may need to explore alternative lending options or work on improving their credit score before applying for a loan.

So, even if you have a lower credit score, you may still qualify for a loan if you can show other positive financial attributes.

Frequently Asked Questions:

Why is it vital to protect yourself against identity theft?

One should protect their personal and financial information to prevent identity theft that can lead to fraudulent activity on accounts and damage credit score. So, one should use strong passwords, secure online transactions, and monitor accounts regularly for any suspicious activity.

What is credit counselling?

If you are facing difficulties in managing debt, you may consider seeking assistance from a reputable credit counselling agency. They can offer guidance on debt management strategies and negotiate with creditors on your behalf.

How often should one check CIBIL score?

Most experts recommend to check the credit score at least once in one year.

What is the key demerit of a low credit score?

Among several demerits, one of the key disadvantages is that you are likely to be offered higher interest rates even when a loan is approved.

Do banks offer loans on the basis of credit scores?

Yes, banks generally use credit score as a key factor in determining whether to approve a loan application. A low credit score may result in denial of credit or approval with less favourable terms.

With new Airbus order, IndiGo is likely taking a flight to becoming premium

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With new Airbus order, IndiGo is likely taking a flight to becoming premium

IndiGo has “agreed” to buy 30 Airbus A350-900s with options for 70 more. The airline made the announcement and informed the stock exchange on April 25. This marks a new journey for IndiGo as it starts expecting and inducting the widebody aircraft in its fleet from 2027. Currently, it has two B777s in its livery but those are wet-leased from Turkish Airlines. The airline has said that it would look at the cabin features and layout of passenger amenities (LOPA) later.

While low-cost long haul has always been a question of survival and the space seeing not-so-successful airlines in the form of AirAsia X along with failures like Wow Air and Norwegian, things have been changing in the low-cost long haul segment as well as for IndiGo.

Also read:

Dual class?

Most low-cost carriers (LCCs) with widebody have opted for a dual-class configuration. While the front cabin is not a full-fledged Business class, it ranges from the best of Premium economy products to lie-flat seats.

Airbus has provided the option for 10 abreast A350s, which sees the side panels being thinner. However, a 10-abreast configuration sways away from the standard Airbus seat size of 18 inches. French low-cost carrier French Bee operates a mix of A350-900 and A350-1000 and its A350-900s are configured with 35 Premium Economy seats and 376 economy class seats. The airline offers onboard screens for IFE and wi-fi connectivity.

It now looks certain that the airline – which has already made statements about having a loyalty programme in the near future, will also look at dual-class features. With its reach and spread, the incremental revenue could possibly help push up its RASK (Revenue per Available Seat Kilometre) which otherwise would stagnate for lack of anything better on offer once the current high demand phase is over after the engine and capacity issues ease out.

Loyalty

A loyalty programme may be expensive to maintain but for an airline looking to fly across the world with interlines and codeshares, it may be a necessity. In India, LCCs have taken multiple stabs at Loyalty programmes including those by SpiceJet and Go Air – both did not make a large headway into this space, largely because Indians have been more loyal to low cost than loyalty in the form of points.

The spread of IndiGo makes it the airline of choice by default beyond the major cities in the country. The airline has made the most of it by creating multiple hubs beyond Delhi to help offer better one-stop options for passengers.

Streaming, charging and more?

IndiGo is trialling out streaming on its app starting May 1 on the Delhi-Goa route. Will this be the route for future or will the A350s come with personalised screens? IndiGo has been a champion of cutting weight onboard for better fuel efficiency. The screens go totally against the concept but this is long haul and we are possibly talking of flights to Australia, North America and Europe amongst possible options to Africa. What will be the deep discounting needed to attract passengers or will the additional weight be covered up with increased revenues?

Lack of charging points has been a pain point on IndiGo for a long time, especially on long sectors like those to Nairobi, Jakarta or Denpasar Bali. With the widebody, the airline will go longer.

Also read:

Tail note

Will this prompt Air India Group to tweak its plans for its low-cost subsidiary Air India Express and operate it on the lines of Scoot? Over a period of time, if the group feels the pinch of IndiGo’s widebody and needs to deploy capacity in a price-sensitive market, will it convert its older 787-8s for Air India Express?

The airline has moved away from its single fleet philosophy, went from a point-to-point carrier to a hub and spoke model, ventured into multiple fleet types with turboprops, has confirmed plans for a loyalty programme and now agreed to order the widebody. The only thing it hasn’t changed is the lack of ovens onboard. Will it finally carry the additional weight of the ovens or are they just too heavy that it believes it can continue running the operations without hot meals? The answer is now closer than ever.

Scottish leader Humza Yousaf faces battle for survival

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Scottish leader Humza Yousaf faces battle for survival

Should same candidates be barred, re-polling take place if NOTA gets maximum votes? SC seeks EC response

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Should same candidates be barred, re-polling take place if NOTA gets maximum votes? SC seeks EC response

The Supreme Court sought a response from the Elections Commission of India (ECI) on a petition seeking re-polling in areas where the maximum number of people in a constituency choose the ‘None Of The Above’ (NOTA) option.

The petitioner sought directions to the Election Commission to frame appropriate rules in case votes in a constituency.

What prompted the case?

During the hearing, Advocate Gopal Sankaranarayanan mentioned that in the Surat Lok Sabha constituency, there was only .

Dala was elected after the nomination of the Congress candidate was rejected and other candidates withdrew their nominations.

Even if there is only one candidate, there should be an election as the voter should have the option to vote for . “In Surat where nobody else has appeared, they are forced to go with whoever the candidate is,” Sankaranarayanan submitted.

What does the plea suggest?

The plea sought a direction that an election must be declared as “null and void” if maximum votes from the constituency are polled for “” (NOTA) and a fresh election should be held for the constituency, Live Law reported.

According to the report, the plea further sought a direction that the same candidates, who lost to NOTA, should be barred from contesting the bye-election which would be held after the cancellation of the first election where NOTA got the majority votes.

It added that there should be proper publicity for NOTA as a “fictional candidate.”

What SC said?

A bench of Chief Justice of India (CJI) , Justice JB Pardiwala and Justice Manoj Misra issued a notice to the Election Commission seeking its response on the matter.

“We will issue notice. This is about the electoral process also. Let us see what the has to say on this,” the CJI was quoted by Bar and Bench as saying.

What is NOTA? What happens now if NOTA get s maximum votes?

NOTA, short for None of The Above, was introduced in the following a direction issued by the Supreme Court in 2013 in a plea filed by the Peoples Union for Civil Liberties (PUCL).

NOTA provides an option to the voters to reject all candidates as unsatisfactory. However, as per the existing law, there is no legal consequence if NOTA gets the majority of the votes.

In such a situation, the next candidate will be declared as the winner, Live Law reported.

UK: Rishi Sunak under fire, govt least transparent in 25 years

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UK: Rishi Sunak under fire, govt least transparent in 25 years

Tomorrow’s IPL Match: DC vs MI; who’ll win Delhi vs Mumbai clash? Fantasy team, pitch report and more

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Tomorrow’s IPL Match: DC vs MI; who’ll win Delhi vs Mumbai clash? Fantasy team, pitch report and more

Tomorrow’s IPL Match: Delhi Capitals (DC) will take on Mumbai Indians (MI) tomorrow on Saturday, April 27, at the Arun Jaitley Stadium in New Delhi. DC, having won 4 out of 9 matches, are placed at number 6 on the points table, while Mumbai Indians are placed at number 8 after winning 3 of their 8 matches.

Both teams have won 3 out of their last 5 matches. Tomorrow’s match between the two sides will start at 3:30 PM.

DC vs MI head-to-head records

Delhi and Mumbai have clashed 34 times in the so far. DC have won 15 and MI 19. Delhi’s highest total against MI is 213. Mumbai’s highest total against DC is 234, which came in the last match between the two on April 7.

Also Read:

The last time these two teams met each other was on April 7 this year. Mumbai made 234/5 in 20 overs. In reply, DC’s innings ended at 205/8. Romario Shepherd’s 39 off 10 balls during the Mumbai’s batting made all the difference.

DC vs MI fantasy team

Rishabh Pant (C, WK), Rohit Sharma (VC), David Warner, Suryakumar Yadav, Prithvi Shaw, Hardik Pandya, Axar Patel, Jasprit Bumrah, Anrich Nortje, Kuldeep Yadav, Ishan Kishan.

DC vs MI pitch report

Arun Jaitley Stadium has hosted only 2 IPL game this year so far. In total, 909 runs were scored in 79.1 overs, thanks to the batting heaven. The pitch is expected to offer similar advantages to batters. Expect big scores.

Also Read:

In the last IPL game, Delhi made 224/4 against Gujarat Titans (GT). DC captain Rishabh Pant scored an unbeaten 88 off 43 balls. GT were 5 short of the target even though Rashid Khan (21 off 11 balls) kept their hopes alive until the final over.

DC vs MI weather

In the afternoon, the temperature in Delhi will be around 38 degrees. However, the real feel will be 40 degrees. The humidity will be around 16%. There is no chance of rain.

DC vs MI prediction

As per Google’s win probability, there is a 59% chance that Mumbai will beat DC in their 9th match.

However, we believe Rishabh Pant’s team will defeat Mumbai. Hardik Pandya’s boys have the X-factor missing this season and do not look in rhythm even though individual performances keep coming.

UK couple orders $1,200 in meals, leaves child to cover the bill; arrested

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UK couple orders $1,200 in meals, leaves child to cover the bill; arrested

In a bizarre incident, a UK couple was arrested by police after they were accused of several ‘dine and dashes’ at restaurants after they ordered free meals worth $1,200.

Despite multiple complaints by restaurant owners, they managed to escape because initially the the police didn’t view the scheme as an emergency, reported the New York Post. 

Despite restaurant owners’ repeated complaints, the couple, 39-year-old Ann and her partner McDonagh, escaped initially as police downplayed the situation, not considering it an emergency, The New York Post reported.

The duo followed a method to eat for free at various restaurants. Despite complaints from nearly five restaurants within a 30-mile radius, South Wales Police finally detained the couple on fraud and theft charges. Most disturbingly, they used their child as part of their plan, leaving them behind at the restaurant when they skipped out on the bill.

Thirty-nine-year-old  Ann with partner McDonagh used to follow a similar pattern for eating free meals at different restaurants in Great Britain’s Wales.

Several videos of the diners have gone viral on social media. Mostly, the duo was accompanied by other people claimed as their family members. According to a few family restaurants, the two used to follow the same procedure with premeditation and continued to rob multiple restaurants. 

According to the New York Post report, the duo used to visit targeted restaurants with four more people. Later, they would start ordering their large meals which may cost nearly $400. 

Later, other people accompanying Ann and McDonagh, exit the restaurant. After ordering and eating their meals, they pretend to pay the bill with a card. 

After their cards were repeatedly declined, the couple used to exit, pretending to have forgotten another card in the car, they’d both move out, leaving their child behind as a trick to appear responsible.

Just 10 seconds after leaving the restaurant, the boy began to run to the car, reported the NY post referring to a restaurant owner.

(With inputs from agencies)

Realme C65 5G, a budget friendly phone, launched in India, starting at ₹10,499: Details

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Realme C65 5G, a budget friendly phone, launched in India, starting at ₹10,499: Details

Realme has introduced its new budget smartphone, the Realme C65, in India with a starting price of ₹10,499. This affordable device comes with support for 5G, a 120Hz display, a large battery, and a competent chipset. Buyers can also take advantage of bank offers to get the device at a slightly discounted price.

Price in India

The base model of the, which offers 4GB of RAM and 64GB of storage, is priced at ₹10,499. Two other configurations are also available: the 4GB + 128GB variant at ₹11,499, and the 6GB + 128GB version at ₹12,499. The phone will be available in Feather Green and Glowing Black color options.

The first sale of the Realme C65 is scheduled from 4 PM to 12 AM on April 26 through Realme’s official website, Flipkart, and mainline stores. Buyers using HDFC, Axis, or SBI cards can avail up to ₹1,000 discount.

Specifications

The Realme C65 features a 6.67-inch HD+ display with an 89.97 percent screen-to-body ratio, a 120Hz refresh rate, and 625 nits of peak brightness. It is powered by the and is available with up to 8GB of RAM and up to 256GB of internal storage, expandable via a microSD card.

For photography, the Realme C65 has a dual-camera setup on the back, with a 50MP primary sensor featuring an f/1.8 aperture, and a 2MP secondary sensor. On the front, there is an 8MP camera for selfies. The phone runs on Android 14 OS and comes with a promise of two years of OS updates and three years of Android security patches.

The Realme C65 is equipped with a 5,000mAh battery that supports 15W fast charging. A charger is included in the retail box. Additionally, the phone carries an, offering some protection against dust and water.

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