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<ul><li>Thousands lost their jobs amid a deepening funding winter in 2022 amid massive layoffs by the tech companies.</li><li>According to a PwC <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> report, startup funding in India hit a two-year low at $2.7 billion in the third quarter of 2022.</li><li>Seed stage rounds also experienced a contraction and dropped by 38 per cent as compared to the previous year.</li></ul> Indian startups, which saw a massive 35 per cent drop in funding in 2022 -- from $37.2 billion in 2021 to $24.7 billion (till November) -- are bracing themselves for a deepening funding winter in 2023 as recession fears loom. Although some startups, like fintech platform <keyword id="6557529" type="General" weightage="50" keywordseo="kreditbee" source="Orion">KreditBee</keyword> ($200 million), Foodtech platform HealthKart ($135 million) and HRtech software-as-a-service (SaaS) platform BetterPlace ($40 million), raised decent funds in December last year and in the beginning of January, the scene overall is grim as VC money has squeezed. Thousands lost their jobs amid a deepening funding winter in 2022 amid massive layoffs by the tech companies, which still continues. According to a PwC India report, startup funding in India hit a two-year low at $2.7 billion in the third quarter of 2022. In 2022, the significant drop in funding was attributed to a decline in late-stage investments, which fell by 45 per cent from $29.3 billion in January-November 2021 to $16.1 billion for the same period this year, according to data provided by <keyword id="2779670" type="General" weightage="80" keywordseo="tracxn" source="Orion">Tracxn</keyword>, a leading global market intelligence platform. Seed stage rounds also experienced a contraction and dropped by 38 per cent as compared to the previous year. The report said that 22 startups entered the unicorn club in 2022, as compared to 46 in the previous year.The number of big ticket ($100 million and above) funding rounds dropped by 35 per cent to 55 as compared to 85 in the reported period. The number of funding rounds saw a drop of 30 per cent, from 2,647 last year to 1,841 this year, the report said. "The funding winter, which began in Q4 of 2021, will persist in 2023 as well. In order to survive the drought, startups are taking unit economics more seriously, which has been illustrated through the series of mass layoffs that have occurred this year," said <keyword id="520013" type="General" weightage="80" keywordseo="neha-singh" source="Orion">Neha Singh</keyword>, Co-Founder, Tracxn. "Although we are currently experiencing a slump, the situation is prompting startups to establish clearer and more sustainable paths to growth, as investors' evaluation metrics begin to emphasise good profitability over growth at all costs," Singh had said in a statement. The startup ecosystem's funding winter could last another 12 to 18 months and the industry may face "a lot of turmoil and volatility", Flipkart CEO <keyword id="6379357" type="General" weightage="80" keywordseo="kalyan-krishnamurthy" source="Orion">Kalyan Krishnamurthy</keyword> warned recently. According to <keyword id="12046361" type="General" weightage="80" keywordseo="shrijay-sheth" source="Orion">Shrijay Sheth</keyword>, Founder, Legalwiz.in, 2023 will continue to be the year of sustenance for most, and funders will continue to remain more cautious. "Both valuation multipliers and funding opportunities will go more conservative. Startups must build better units economics as opposed to expensive acquisitions driven growth channels. Geo-political issues, Global supply chain crisis and other macro issues are expected to prevail," he said. However, this also needs to be seen as a year where resilient, innovative and problem-solving entrepreneurs shall get an opportunity to stand out from the crowd. "As the macro environment gets tougher, we can expect some excellent business models to outshine the rest with high levels of innovation and frugality. Also, mostly the serious funding houses will prevail while we will see visitors in the VC world take a break," <keyword id="262579" type="General" weightage="80" keywordseo="sheth" source="Orion">Sheth</keyword> noted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/there-is-a-link-between-drinking-sugary-sodas-and-hair-loss-says-beijing-based-study/slidelist/96796018.cms">There is a link between drinking sugary sodas and hair loss, says Beijing-based study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/chaman-metallics-first-sme-ipo-of-2023-subscribed-197x/articleshow/96795916.cms">Chaman Metallics, first SME IPO of 2023, subscribed 197x</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/60-of-blue-and-grey-collar-jobs-go-to-freshers-with-tech-skills-billion-careers-report/articleshow/96795198.cms">60% of blue and grey collar jobs go to freshers with tech skills: Billion Careers report</a>

India's startup economy stares at deepening funding winter in 2023

<ul class="summary-list"><li>ALI Technologies, the maker of the XTURISMO bike, is mulling a stock market listing, per Bloomberg. </li><li>The company began accepting pre-orders for its XTURISMO in October.</li></ul>The Japanese startup behind a $777,000 flying <keyword id="13583342" type="UNKNOWN" weightage="60" keywordseo="motorbike" source="Orion">motorbike</keyword> is planning to float on the stock exchange through an IPO to raise further funds, according to <a href="https://www.bloomberg.com/news/articles/2022-04-08/maker-of-777-000-flying-motorbike-prepares-for-ipo-in-japan?srnd=technology-vp&amp;sref=lAVQtUwz">Bloomberg</a>.Daisuke Katano, the CEO of Tokyo-based ALI Technologies, which designed the bike, named XTURISMO, told Bloomberg that the company was planning to list the company on the Mothers market for startups.Katano also said the company was in negotiations to float on the Tokyo Stock Exchange but declined to provide a timeframe or potential target valuation for an IPO. The 300-kilogram XTURISMO bike, which according to the company's <a href="https://www.xturismo.com/?lang=en">website</a> has a top speed of 80 kilometres per hour with a travel range of up to 40 minutes, <a href="https://www.businessinsider.com/hover-bike-ali-technologies-xturismo-japanese-start-hoverbike-tech-2021-10">launched</a> for pre-orders in October last year, Insider's Grace Dean reported. In January, the Robb Report <a href="https://robbreport.com/motors/aviation/hoverbike-lifts-off-with-228-hp-engine-designed-for-motorcycle-racing-1234658917/">reported</a> that the company had begun taking deposits for the bike, which can reach a height of 2 metres (6.6 feet) in three seconds. The vehicle made headlines in <keyword id="6355311" type="UNKNOWN" weightage="60" keywordseo="japan" source="Orion">Japan</keyword> in March when it featured in the opening ceremony of a baseball match in Hokkaido. Katano told Bloomberg the vehicles were garnering interest in the Middle East, where the desert terrain complemented the hovering nature of the bikes. The bikes are intended to hover rather than fly at altitude."The vehicle will enable people to travel where roads are bad and inaccessible to cars, as well as across bodies of water," he said. The XTURISMO is the latest in a line of startups racing to develop flying automobiles. The tech platform Tracxn <a href="https://tracxn.com/explore/Flying-Cars-Startups-in-United-States">estimates</a> there are 37 <keyword id="13583343" type="UNKNOWN" weightage="60" keywordseo="flying-car" source="Orion">flying car</keyword> companies based in the US.A <a href="https://www.fortunebusinessinsights.com/flying-cars-market-105378">report</a> published by Fortune Business Insights projects that the global flying car market will grow from $225 million in 2022 to $1.5 trillion by 2040. A collection of those mobility companies are already listed on the New York Stock Exchange, including air taxi group Joby, which is valued at $3 billion.

The Japanese company behind a $777,000 flying motorbike is planning to go public, reports say

Total funding raised by <keyword id="17404081" type="General" weightage="20" keywordseo="mom-and-baby-care-startups" source="Orion">mom and baby care startups</keyword> and companies was $418 million in 2022, a plunge of 80 per cent from $2.1 billion in 2021, a report has shown. <keyword id="17404082" type="General" weightage="20" keywordseo="Mom-Baby-Care-companies" source="Orion">Mom &amp; Baby Care companies</keyword> in the US have raised $5 billion till date, while those in China and India raised $2.8 billion and $1.4 billion, respectively, according to Tracxn, a leading global SaaS-based market intelligence platform. The drop in funding is majorly due to the absence of late-stage investments. Seed-stage funding in Q1 2023 fell 21 per cent as against Q1 2022 but jumped 444 per cent from Q4 2022. Early-stage investments in the first quarter of 2023 rose 158 per cent when compared with Q4 2022, but dropped 64 per cent from Q1 2022, the report noted. The sector attracted investments worth $21 million in Q1 2023, compared with $3.86 million in Q4 2022 and $26.5 million in Q1 2022. "The space is seeing minimal or no activity in terms of unicorns and IPOs. In 2022 and 2023 till date, no new unicorn companies were created in this space," the report mentioned. No IPOs have taken place in 2023 so far, while 2022 witnessed one company and 2021 witnessed two companies going public. In terms of funding, <keyword id="17404084" type="General" weightage="20" keywordseo="Gamified-learning-platforms" source="Orion">Gamified learning platforms</keyword> for Pre-K children is the top-funded business model in the last two years in this space, followed by Online Retailers and Breast Pumps. 500 Global, Techstars and New Enterprise Associates are the most active investors in this space till date. IPV, Angel List and Techstars are the top seed-stage investors and Innoven Capital, Andreessen Horowitz and Sequoia Capital are the top early-stage investors, while Sequoia Capital, General Atlantic and IPGL are the top late-stage investors in the last two years. The pandemic accelerated the growth of the Mom &amp; Baby Care space, giving rise to innovation in this segment. The rise in the working class population with a higher disposable income, is also a supporting factor for growth in this space, said the Tracxn report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-5408-crore-in-q4-beats-estimates/articleshow/100189259.cms">Tata Motors posts net profit of ₹5,408 crore in Q4, beats estimates</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-hindenburg-row-sc-hints-at-granting-sebi-extension-on-probe-report-to-decide-on-may-15/articleshow/100185994.cms">Adani-Hindenburg row: SC hints at granting SEBI extension on probe report, to decide on May 15</a>

Funding into mom & baby care companies plunges 80%, no new unicorns

Chip-maker <keyword id="28115" type="General" weightage="100" keywordseo="intel" source="Orion">Intel</keyword> has reportedly confirmed that its 'Alder Lake BIOS' source code has been leaked by a third-party on the anonymous imageboard website <keyword id="593135" type="General" weightage="20" keywordseo="4chan" source="Orion">4chan</keyword> and Microsoft-owned open source developer platform <keyword id="1505863" type="General" weightage="20" keywordseo="github" source="Orion">Github</keyword>, in a 6GB file containing tools and code for building and optimising 'BIOS/UEFI' images. The working of the 'BIOS/UEFI' code of the computer is to initialise the hardware before the operating system has loaded, reports Tom's Hardware website. The company said in a statement that "Our proprietary UEFI code appears to have been leaked by a third party". "We do not believe this exposes any new security vulnerabilities as we do not rely on obfuscation of information as a security measure. This code is covered under our bug bounty programme within the <keyword id="15214118" type="General" weightage="50" keywordseo="project-circuit-breaker" source="Orion">Project Circuit Breaker</keyword> campaign, and we encourage any researchers who may identify potential vulnerabilities to bring them to our attention through this programme," a company spokesperson was quoted as saying. Intel said it is reaching out to both customers and the security research community to keep them informed of this situation. Meanwhile, Intel was yet to confirm who leaked the code. Also, Intel said there shouldn't be any security-related issues as it doesn't "rely on obfuscation of information as a security measure". Moreover, Intel in its 'Project Circuit Breaker' bug bounty programme, encourages researchers to submit any vulnerabilities they find, which will award them an amount between $500 to $100,000 per bug, depending on the reported issue's severity. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tracxn-technologies-ipo-10-things-to-know-about-this-company-as-its-ipo-opens/slidelist/94760583.cms">Tracxn Technologies IPO — 10 things to know about this company as its IPO opens</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s23-is-expected-to-feature-a-3900mah-battery-a-small-upgrade-over-its-predecessor/articleshow/94760714.cms">Samsung Galaxy S23 is expected to feature a 3,900mAh battery, a small upgrade over its predecessor</a>

Intel's proprietary source code leaked, company confirms

The rupee slipped 19 paise to 82.38 against the US dollar in early trade on Monday as persistent foreign funds outflows and weak domestic equities weighed on investor sentiments. At the interbank foreign exchange, the domestic unit opened lower at 82.33 against the dollar, then lost further ground to quote at 82.38, registering a fall of 19 paise over its previous close. In initial deals, the rupee was moving in a close range of 82.38-82.33 against the American currency. In the previous session on Friday, the rupee had settled at 82.19 against the greenback. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.27 per cent to 113.01. Brent crude futures, the global oil benchmark, rose 0.59 per cent to USD 92.17 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 100.41 points or 0.17 per cent lower at 57,819.56, and the broader <keyword id="372424" type="General" weightage="80" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> slipped 33.95 points or 0.20 per cent to 17,151.75. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 1,011.23 crore on Friday, according to exchange data. FIIs have pulled out nearly Rs 7,500 crore from the Indian equity markets in the first two weeks of October on concerns of monetary policy tightening by the <keyword id="6356435" type="General" weightage="80" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword> and other central banks globally, which could hamper global economic growth. Meanwhile, <keyword id="25455" type="General" weightage="80" keywordseo="finance" source="Orion">Finance</keyword> Minister <keyword id="129243" type="General" weightage="80" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> has said that the rupee has not weakened, but it is the dollar that has strengthened, as she defended the 8 per cent slide in the value of the Indian currency against the greenback this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/recession-fears-drag-down-markets-sensex-down-219-points-nifty-by-55-points/articleshow/94907489.cms">Recession fears drag down markets; Sensex down 219 points, Nifty by 55 points</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tracxn-technologies-ipo-heres-how-you-can-check-the-allotment-status/articleshow/94915149.cms">Tracxn Technologies IPO: Here’s how you can check the allotment status</a>

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India's startup economy stares at deepening funding winter in 2023

IANS

The Japanese company behind a $777,000 flying motorbike is planning to go public, reports say

Ryan Hogg

Funding into mom & baby care companies plunges 80%, no new unicorns

IANS

Intel's proprietary source code leaked, company confirms

IANS

Rupee falls 19 paise to 82.38/USD as foreign outflows weight on investor sentiment

PTI

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