
ETtech Deals Digest: Startups raise $124 million this week, down 59% on-year
Academy
Empower your mind, elevate your skills
ETtech
Startups raised around $123.9 million during the week of July 12 to 18, marking a 59% decline from the $307.7 million raised during the same period last year, according to data from Tracxn.However, the funding amount saw a rebound from the previous week, nearly doubling from $62.1 million.Deal activity, too, declined this week on a year-on-year (YoY) basis, with 26 transactions recorded during the period, compared to the 37 deals seen in the corresponding week last year.Digital payments firm PayU received a capital infusion of $35.1 million from its parent, Prosus , the Dutch-listed arm of South African technology investor Naspers.Quantum computing startup QpiAI raised $32 million in a funding round led by Avataar Venture Partners and India's National Quantum Mission.Healthtech startup Truemeds raised $20 million as part of a funding round from Peak XV Partners . The company has raised a total of $113 million to date, according to Tracxn.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
7 hours ago
- Time of India
Zoo-enthusiast multi-millionaire 'bossman' trampled to death by his 'favourite' elephants
Francois Christiaan Conradie , the multi-millionaire owner of Gondwana Private Game Reserve , was tragically killed on July 22 at 8 am after being trampled by a charging elephant. The incident occurred as Conradie was attempting to guide a group of elephants away from tourist lodges at the luxurious South African game reserve. The six-ton bull elephant reportedly gored Mr. Conradie with its tusks and trampled him multiple times, leaving nearby rangers unable to intervene. "Because he is the boss man, everybody has been warned to say absolutely nothing or they will be out the same day, it is a big clamp down," a senior source at Gondwana stated. "FC was a great guy to work for, and he loved his elephants, which were his favourite, and he felt he had a trust with them, but you have to never forget they may live in a reserve but are wild. He will be greatly missed by all here." Explore courses from Top Institutes in Please select course: Select a Course Category Product Management Project Management MCA Data Science Technology CXO Public Policy Degree Digital Marketing Leadership Finance Cybersecurity Data Science others MBA Data Analytics Others Design Thinking PGDM Management Operations Management Artificial Intelligence healthcare Healthcare Skills you'll gain: Product Strategy & Competitive Advantage Tactics Product Development Processes & Market Orientations Product Analytics & Data-Driven Decision Making Agile Development, Design Thinking, & Product Leadership Duration: 40 Weeks IIM Kozhikode Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Product Strategy & Roadmapping User-Centric Product Design Agile Product Development Market Analysis & Product Launch Duration: 24 Weeks Indian School of Business Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Creating Effective Product Roadmap User Research & Translating it to Product Design Key Metrics via Product Analytics Hand-On Projects Using Cutting Edge Tools Creating Effective Product Roadmap User Research & Translating it to Product Design Key Metrics via Product Analytics Hand-On Projects Using Cutting Edge Tools Duration: 12 Weeks Indian School of Business ISB Product Management Starts on May 14, 2024 Get Details Skills you'll gain: Creating Effective Product Roadmap User Research & Translating it to Product Design Key Metrics via Product Analytics Hand-On Projects Using Cutting Edge Tools Duration: 12 Weeks Indian School of Business ISB Product Management Starts on May 14, 2024 Get Details Conradie, who also owned the Caylix Group sports management company, was known for his deep passion for elephants and nature. He held honors degrees in zoology, animal studies, commerce, and marketing, and was described as "an ambitious entrepreneur and passionate about nature." Gondwana Game Reserve issued a tribute, remembering Mr. Conradie as "more than a leader – he was a mentor, a visionary, and a truly remarkable individual," and a "cherished leader, devoted husband, and father of three." The reserve has requested privacy for the family and appealed to the public to avoid speculation as an investigation into the incident is underway. It remains unknown if guests at the Big 5 reserve, a popular destination for celebrities and tourists, witnessed the violent attack. Disturbingly, this marks the second fatal elephant attack at Gondwana in just over a year. In March 2023, staff member David Kandela, a 36-year-old married father, was killed while guiding a herd through the Eco Tent Lodge area. Mr. Kandela was gored, dragged into the bush, and dismembered by elephants, including a former circus elephant named Bonnie. Live Events Mr. Conradie's death has intensified discussions surrounding safety protocols within game reserves, underscoring the inherent risks of working with wild animals. Experts emphasize that even experienced professionals must exercise extreme caution when interacting with elephants, which can exhibit unpredictable behavior despite their generally calm demeanor.


Time of India
11 hours ago
- Time of India
Natco Pharma shares dip over 2% after Rs 2,000-crore stake buy in South Africa's Adcock Ingram
Natco Pharma shares slipped 2.5% to Rs 1,009 apiece on the BSE in Thursday's trade after the company announced its plan to acquire a 35.75% stake in South Africa-based Adcock Ingram Holdings (AIHL) for $226 million (approximately Rs 2,000 crore). The proposed all-cash deal involves acquiring nearly 36% of AIHL from minority shareholders. Natco said the strategic investment aims to expand its geographical footprint in South Africa , marking a significant step toward diversifying beyond its key markets. Founded in 1890, Adcock Ingram operates across four segments—prescription, consumer health, over-the-counter (OTC), and hospital products—with a wide portfolio of branded and generic formulations, critical-care products, and consumer healthcare offerings. The acquisition is expected to be completed in 2025. Following the deal, Adcock will continue as a private South African entity, with Bidvest retaining 64.25% and Natco holding 35.75%, including its existing 0.80% stake. Post-transaction, Natco will consolidate its share of AIHL's net profits, which stood at $45 million for the year ended June 2024, on total revenue of $536 million. 'Adcock Ingram is a respected pharmaceutical company with well-recognised brands and a leading position in South Africa. This acquisition gives Natco an established entry into the Southern African market, opens new revenue streams, and strengthens our footprint in a key emerging region,' said Rajeev Nannapaneni, CEO and Vice-Chairman of Natco Pharma. Live Events In addition to the acquisition, Natco's board approved the incorporation of a wholly owned subsidiary in South Africa with an investment of up to Rs 2,100 crore this year. The move is part of the company's strategy to enter new geographies for sustained growth and improved profitability. The board also approved a proposal to liquidate its wholly owned subsidiary Time Cap Overseas (TCOL) and directly hold the investment in step-down subsidiary NatcoFarma do Brasil. Brokerage View Brokerage firm Nuvama raised its target price on Natco Pharma to Rs 1,110 from Rs 990, while maintaining a 'Hold' rating. It believes the Adcock deal strengthens Natco's presence in emerging markets, supports diversification beyond the US, and improves R&D leverage. The deal is expected to be 7–9% EPS accretive, driven by prescription revenue synergies. Also read: The great Adani bet: Mutual funds & LIC are buying what GQG, FIIs are selling Nuvama also noted that with Rs 15 billion in post-deal cash, Natco may pursue further M&A opportunities to fuel long-term growth. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Time of India
14 hours ago
- Time of India
PayPal CEO interview; Infosys Q1 report
PayPal CEO interview; Infosys Q1 report Want this newsletter delivered to your inbox? Also in the letter: Digital wallet payments must flow beyond borders: PayPal CEO Alex Chriss No more walled gardens: On PayPal World: Cryptocurrency and payments: Also Read: Infosys profit surges 8.7% on deals, Europe show Number-wise: Net profit: Rose 9% year-on-year (YoY) to Rs 6,921 crore Rose 9% year-on-year (YoY) to Rs 6,921 crore Operating revenue: Climbed 8% YoY to Rs 42,279 crore Climbed 8% YoY to Rs 42,279 crore Revenue growth (in constant currency): rew 3.8% YoY and 2.6% sequentially Why it matters: Zoom in: EBIT margin was 20.8%, down 30 basis points YoY. Large deal wins touched $3.8 billion, with 55% from net new clients. Segment-wise growth was led by manufacturing (12.2%) and financial services (5.6%), while life sciences and 'others' saw decline. Attrition inched up to 14.4%, with a modest net headcount addition of just 210. Between the lines: Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Trump's tariffs, big beautiful bill derail Indian IT's big shift away from BFSI biz For instance: TCS flagged slowing medtech demand, tighter regulation and mounting cost concerns. Tech Mahindra, heavily exposed to these sectors, is pivoting back to BFSI and retail. Infosys, meanwhile, sees financial services regaining strength, becoming its top-performing vertical. Also Read: Good Glamm Group to be broken up; all brands up for sale Driving the news: Backstory: Recent cracks: Sirona returned to its founders for Rs 150 crore, far below the Rs 450 crore at which it was acquired. ScoopWhoop fetched just Rs 18–20 crore after being bought for Rs 100 crore. Key investors, including Accel, Prosus, and Bessemer, exited the board, as did several CXOs. Debt defaults and vendor disputes followed. A look back: Also Read: Gupshup raises $60 million from Globespan, EvolutionX Details: The funds will be used for expansion and speeding up go-to-market execution. The San Francisco-based company is also considering a return to India ahead of a potential public listing. Gupshup did not disclose the post-money valuation for the round. Automation company Enlite nets $5 million: Inbound Aerospace raises $1 million: Keeping Count Other Top Stories By Our Reporters ED lens on Myntra: Crisis resolved: Global Picks We Are Reading In an exclusive interaction, PayPal CEO Alex Chriss stressed the need for interoperability between country-specific digital wallet systems. This and more in today's ETtech Morning Dispatch.■ Good Glamm Group's breakup■ ETtech Done Deals■ Myntra under ED lensAlex Chriss, CEO, PayPalFor digital wallets and instant payment systems to truly scale, they need to move beyond domestic silos and plug into a global, interoperable network, said PayPal CEO Alex Chriss in an exclusive interaction with us Chriss praised the rise of local payment rails such as India's UPI, Venmo in the US, and WeChat Pay in China. But, he stressed that the next wave of growth in digital commerce hinges on making these systems work seamlessly with one another. Travellers, he said, should be able to pay merchants or send money using their preferred apps—regardless of where they are in the has stitched together what it calls PayPal World, a cross-border network linking five major systems: TenPay Global (China), UPI International (India), Mercado Pago (Mexico), PayPal and Venmo (the US). Indian consumers, for instance, will be able to shop from European merchants using UPI apps. Tourists in India could simply scan UPI QR codes using their home-country also backed cryptocurrency as the next leap in payments. If merchants want to accept crypto, PayPal wants to ensure they can—by building rails that support such transactions as part of this global Parekh, CEO, InfosysInfosys kicked off FY26 on solid footing. India's second-largest IT services exporter posted healthy deal wins , maintained strong cash flow, and nudged up its revenue macro uncertainty and sluggish global tech spending, Infosys stayed on course. The company raised the lower end of its FY26 revenue growth forecast to 1–3% in constant currency, signalling cautious Salil Parekh pointed to rising momentum in AI-led deals and client consolidation. The company's Project Maximus continues to improve internal efficiencies. Cash flow remained robust at $884 million, with conversion topping 100%.ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship software firms are struggling to diversify beyond their traditional banking, financial services and insurance (BFSI) comfort zone. Verticals such as manufacturing, consumer, communications, and life sciences—once seen as growth bets—are now under pressure, dragging earnings down Darpan Sanghvi, CEO, Good Glamm GroupThe Good Glamm Group is being dismantled. Its lenders have enforced claims on individual assets, leading to a sale of brands one by one . The company will no longer operate as a single collection of brands, confirmed founder and CEO Darpan Sanghvi in a LinkedIn post Sanghvi wrote, 'Our lenders have decided to enforce their charge on the individual brands under the Good Glamm Group. What this means is that there will no longer be a group-wide solution which will allow all the brands to continue under a single umbrella. Instead, the brands will be sold one by one.'Launched as MyGlamm in 2017, the firm rebranded in 2021 and went on an aggressive buying spree—picking up POPxo, BabyChakra, Sirona, and ScoopWhoop. Fuelled by the funding frenzy, it paid steep prices for businesses that failed to to Tracxn, the company has raised $342 million to date. It raised $30 million in March 2024 at a flat valuation of $1.25 billion from existing investors, including Warburg Pincus, Prosus Ventures, Bessemer Venture Partners, and Sheth, CEO, GupshupConversational messaging platform Gupshup has raised $60 million (about Rs 518 crore), mostly through equity funding from venture capital firm Globespan Capital Partners, with the remainder as debt from EvolutionX Debt a Mumbai-based full-stack infrastructure automation company, has raised Rs 46 crore (about $5 million) in its maiden institutional funding round led by early-stage investment firm Avaana Aerospace, a space technology startup incubated at IIT Madras, has secured a $1 million funding round led by venture capital firm Speciale Invest, with participation from Mumbai-based asset management company Piper Enforcement Directorate (ED) has filed a complaint under the Foreign Exchange Management Act (Fema), 1999, against Flipkart-owned fashion retailer Myntra for allegedly contravening foreign investment regulations to the amount of Rs 1,654.35 deadlock caused by the Goods and Services Tax (GST) demand notices to small merchants across Karnataka was resolved on Wednesday after Chief Minister Siddaramaiah pledged not to chase the tax debts and offered protection to tax-compliant traders.■ Microsoft poaches top Google DeepMind staff in AI talent war ( FT ■ Ride-hailing giants' electric promises are stalling worldwide ( Rest of World ■ Anti-Elon Musk protesters are coming for Tesla's new diner ( The Verge