Indian Startup News 180: Skyroot Unveils Their Vikram I Rocket

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This week's funding Notion: https://www.google.com/url?q=https://vivacious-rainforest-f50.notion.site/W4-Q3-FY24-cc80835e016a4747a79b9a656ca50501?pvs%3D4&sa=D&source=docs&ust=1698470008692043&usg=AOvVaw09H88867VbFn8iRyH6xQLE

FY24 funding notion: https://honored-hospital-c65.notion.site/cea977c397b346af91a022250b7654e3?v=205740096cff4378a51bb0a05bd0ee85

Notion graph: https://docs.google.com/spreadsheets/d/12Gugm80lFfI6jvJsWtDmL138XBFwxyA4560E6nfKtyI/edit#gid=0

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00:00 Skyroot unveils their Vikram I rocket
01:20 Mamaearth IPO
03:08 Byju’s CFO Ajay Goel quits within 7 months
03:51 Groww overtook Zerodha to become India’s largest stock-broking platform
04:58 Ola bike taxi drivers salary: ₹70,000 per month
06:17 Funding News

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Skyroot unveils their Vikram I rocket:

1. This is Vikram- 1 - India’s first privately built rocket that will be taking commercial satellites into space.
2. Skyroot has already proved its capabilities back in 2022 when it launched Vikram-S into space to demonstrate its technology and made history by launching India’s first privately built rocket in space.
3. they are expected to make history once again by kickstarting India’s private commercial space journey with the launch of Vikram-1 into space in the first quarter of 2024.

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Mamaearth IPO:

1. Mamaearth was planning to raise 400 crore rupees but that number has now come down to 365 crore rupees.
2. Mamaearth was valuing themselves at almost 3 billion dollars that has also come down to just 1.3 billion dollars.
3. is pretty much what it was back in January 2022 - when they raised their last funding round at 1.2 billion dollars.

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Byju’s CFO Ajay Goel quits within 7 months:

1. He is going back to Vedanta, where he was the group CFO since 2021.
2. With Ajay gone, Nitin Golani, who was the President of Finance at Byju’s, is being promoted as the new CFO of the company.

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Groww overtook Zerodha to become India’s largest stock-broking platform:

1. Last month in September 2023, Groww overtook Zerodha to become India’s largest stock-broking platform in terms of the number of active investors.
2. Their revenue has grown by 266% in the financial year of 2023 to reach 1,277 crore rupees.
3. They’ve posted a profit of 448 crore rupees.

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Ola bike taxi drivers salary - ₹70,000 per month :

1. According to a report by Moneycontrol, Ola is offering as much as 70,000 rupees in salaries and incentives.
2. Based on the numbers, a driver could possibly end up earning 84,000 rupees per month.

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Funding News:

1. This week, Indian startups raised a total of 81 million dollars.
2. Most of this funding went to PMI Electro Mobility, which is an EV company making electric buses, which has raised 30 million dollars.
3. The Indian Garage CO, a fashion-focused e-commerce platform, which has raised 18.5 million in their series A round.
4. Drone manufacturer Garuda Aerospace, which has raised 3 million dollars in their bridge round.
5. Indian beer brand Proost, which was featured in Shark Tank Season 2 and has raised 3 million dollars in their Pre-series A round.

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