Run down for the month - Mar'22
New beginnings: Pixxel, the Bengaluru based space tech startup that engages in satellite-based earth imaging solution launched its 1st (of 36) satellite aboard a SpaceX rocket. The startup recently raised its Series A round of $25 Million.
14 unicorns already: Among the 14 new Unicorns in Q1’22, HR Tech made its debut in the Unicorn club with Darwinbox, which has brilliantly combined all HR related solutions in a cloud-based HRM software.
Jolt to tech IPOs: After seeing a slump in prices of most listed tech startups in March, SEBI tightened its scrutiny into tech IPO filings, requiring audit of key metrics based on which valuations are arrived. Of note: over a dozen startups are already in the pipeline of getting listed, having filed their DRHP.
Grocery Delivery – the new war zone for Ecom giants: As Zomato goes full throttle with its widely criticized quick commerce service Blinkit, JioMart Express is set to pilot its instant delivery service in Mumbai. Meanwhile, Tata owned BigBasket also announced its entry into the segment, which will be launched in a month’s time.
Speaking of the War: Bangaluru based EV startup Prvaig Dynamics took it to twitter to offer safe evacuation, accommodation and jobs to people from war affected regions. Meanwhile, Oyo recently announced that it will offer free accommodation to refugees from Ukraine, in Poland.
Bye bye India: Singapore based ecom startup Shopee and US based BNPL startup Sezzle, both abruptly decided to shut down their India operations, despite witnessing good growth since their launch.
New rules of the game: As India enters a new financial year, tax imposed on cryptocurrency through Finance Budget’22, comes into effect. Not surprisingly, Crypto exchanges have witnessed a massive fall in volume of transactions by as much as 50%.
The BharatPe vs Ashneer Grover saga continues, but we won’t share anything on it until a formal investigation is carried out, once and for all. Meanwhile, we think Big Boss has probably zeroed in on its next resident.
This article is a part of the March'22 edition of our Startup Newsletter. Here's the complete publication: