Newage companies are unlikely to have much to cheer about in 2024 if early funding figures are anything to go by. Investments in startups in the first week of 2024 dropped by about 88% from the same period a year ago, totalling $35.8 million across eight deals. In volume terms, deals were down 86% from 59 a year earlier.

The anticipation is electric, with the potential for a sharp upturn ready to redefine the narrative for startups in the year ahead. The hope extends beyond specific sectors, with an optimistic outlook that overall startup investment will surge in the coming year

New Delhi: In the December quarter of 2023, funding for startups hit a seven-year low, as they received the lowest equity investment since the underwhelming performance observed in the third quarter of 2016. As of December 5, the fourth quarter of 2023 saw the lowest equity investment received by new age ventures since the terrible performance in the third quarter of 2016, Mint reported, citing data from research platform Tracxn.

IIT Madras Incubation cell aims to incubate at least 100 startups this year with focus on climate tech, agriculture, ruraltech, water, sustainability related, future factory, supply chain management. We are sector agnostic, but we would focus on certain areas of interest and attract young entrepreneurs (for that), in the next three months, said Tamaswati Ghosh, Chief Executive Officer of IIT Madras Incubation Cell.

More than half of the Indian startups gearing up to launch their initial public offerings (IPOs) this year are still contending with losses, according to a report by the Financial Express (FE). Among the annual filings of 12 companies filing their draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), eight struggle to post profits and have incurred cumulative losses of Rs 8,000 crore.

Startups have become integral to India’s economic progress Startups have encouraged bad behaviour, unethical practices in pursuit of valuations Venture capitalists, private equity investors must share the blame for lack of startup accountability Founders must adapt values, ethical principles right at the beginning of business

Search startup Perplexity AI valued at $520 mln in funding from Bezos, Nvidia The round was led by venture capital firm IVP and valued the company at about $520 million, according to the company. NEA, NVIDIA, Databricks, and Bessemer Venture Partners also participated in the round.