Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- India’s ISRO Achieves Historic Soft Landing on the Moon – India’s national space agency, ISRO, successfully achieved a soft landing on the Moon’s south pole for the first time.
- Zepto Ends India’s Unicorn Drought – Quick delivery startup Zepto becomes India’s first unicorn in nearly three quarters, commanding a valuation of $1.4 billion in its latest funding round.
- Dunzo Struggles to Stay Afloat – Indian hyperlocal delivery startup Dunzo, facing financial difficulties, reaches out to investors to raise capital amid delayed salaries and legal notices from unpaid vendors.
- Startups Take Measures to Achieve Profitability – Indian startups like Zomato, Swiggy, Paytm, Delhivery, and PolicyBazaar implement cost-cutting measures, layoffs, and diversification of revenue streams to meet investor expectations and achieve profitability.
- Decline in Venture-Backed Indian Startup M&A Deals – The value of disclosed M&A deals involving venture-backed Indian startups tumbles by 87% to $323 million in January-July 2023.
- Grab Nears Break-Even as Losses Narrow – Southeast Asian super app Grab announces narrowing losses by 74% in Q2, putting the company on track to break even sooner.
- GoTo Divests Entertainment Businesses – Indonesian tech giant GoTo narrows net losses in Q2 and decides to divest its entertainment businesses to focus on sustainable growth.
- Exploring Indonesia’s Insurtech Sector – Despite its huge potential, the insurtech industry in Indonesia is yet to see a boom due to a lack of awareness and comprehensive product offerings.
- Survival Challenges for Vietnamese Social Commerce Startups – Vietnamese social commerce startups face survival challenges despite significant opportunities created by the TikTok boom.
- Landmark Family Office Awaits Ideal Time for PE-VC Investments – Family offices, including Landmark Family Office, are scouting for strategies with more manageable downsides before resuming PE-VC investments.
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