An in-depth account of Indian space startups; MobiKwik eyes profitability this year
There was a time when space was out of reach for the human race. Then, government agencies took upon themselves to exploring this vastness surrounding our planet. Today, 58 years after the first human entered outer space, not only are private companies working on space tech - but the industry is also attracting startups. And no, we are not talking about Amazon and Tesla. In fact, Jeff Bezos and Elon Musk have managed to inspire Indian startups to aim for the stars.
MobiKwik revenue grows over 100 pc; eyes profitability in FY20
Fintech startup Mobikwik reported an over 100 percent increase in its revenue for the financial year 2018-19, targeting operational profitability in FY20. The company is also planning for an IPO in three-years. Regulatory filings showed that the startup reported a revenue of Rs 184.6 crore for FY19, against Rs 85.6 crore in FY18, up 116 percent year on year.
Meet Adtech startup Affle that is readying for an IPO
Cash-positive, profitable and all geared up for an IPO: Affle is the adtech startup that you didn’t know was going public. Headquartered in India, Affle has operations in South East Asia, MENA, Europe, US, Japan, South Korea and Australia. The startup received SEBI approval for its IPO in October 2018.
Vertex Ventures raises an initial corpus of $230M
In 2016, it raised $210 million for its third fund. Now, Vertex Ventures made the first close of its fourth fund. Focussed on Southeast Asia and India, Fund IV has so far raised $230 million. The early-stage venture capital arm of Singapore-based investment company Temasek Holdings expects to do a final close over the next few months.
Chinese phone maker Huawei's Android licence is cancelled
If you have a Huawei phone or were planning to buy one - hang on. The US recently decided to place Huawei on the ‘Entity List’, as a result of which Google has suspended the company's Android licence. However, the Chinese phone maker can still access the public version of Android through open source licensing.