Starlink, a subsidiary of Elon Musks SpaceX, may soon get a licence to operate in the satellite communications space, having apparently satisfied the Indian governments concerns on data storage and transfer. This and more in todays ETtech Top 5.
A majority of the investment was seed-stage funding, across 92 rounds. In October last year, startups had raised a total of $1.14 billion across 149 rounds, as per Tracxn data. Signs of a funding winter had begun to emerge from September 2022.
The platform’s total expenses came in at Rs 3,350 crore, a six-fold increase from Rs 532.7 crore in FY22. This means, to earn a rupee, Zepto spent about Rs 1.7 during the year. This is down from Rs 3.7 it had to spend in FY22 for each rupee earned.
A majority share $45.2 million of the total funding went to early-stage startups, making up 57% of the total weekly funding. Late-stage startups saw $30 million being pumped in as investments, while seed-stage companies received a mere $4.8 million.
Startup news and updates: Daily roundup (October 23, 2023) yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.