Hello Reader,
‘Tis the season to report earnings.
Nykaa parent FSN E-Commerce Ventures reported a consolidated net profit after tax of Rs 5 crore for Q1 FY 2023, a year-on-year growth of 42%. The company is also acquiring Iluminar Media Private Limited, which owns and operates Little Black Book (LBB).
On the other hand, MapmyIndia reported higher profits, boosted by demand for its product and services. C. E. Infosystems reported a net profit of Rs 24.2 crore, a year-on-year increase of 17.5%.
Then, fintech giant Paytm reported a wider first-quarter loss on the back of rising expenses, which ate into its strong revenue growth. One97 Communications reported a net loss of Rs 645 crore in the quarter ending June 30, 2022, ~69% higher than the same period last year.
Meanwhile, NASA is ready to send Artemis I to the Moon. The uncrewed test flight is going to carry 10,000 mementoes for its trip, including four LEGO mini-figures, a variety of tree seeds, a pen nib from the Charles M. Schulz Museum and Research Center, and silver Snoopy pins.
Oh, and of course, a 3D-printed replica of the spacecraft’s namesake, goddess Artemis herself.
Pack light? NASA says no.
An NFT universe around esports
Esports has gained a massive following in India over the years, giving rise to an entire universe of esports influencers, celebrities, boot camps, and merchandise. STAN operates at the intersection of Web3 and sports, enabling engagement for its users through fun gamified loopable layers on the platform.
“For STAN, blockchain is the tech that enables trust and ownership over assets, such as officially licensed NFTs from esports players. End users can not only collect these NFTs, but also use them in games on the STAN platform, and level up to earn rewards,” says co-founder Parth Chadha.
What’s on offer:
- STAN has signed up with 60+ Indian esports players such as Jonathan, 4200P, Roxx etc.
- Follow ‘Web 2.5’ approach by applying traditional Web2 gaming/esports principles and blockchain tech.
- On the STAN marketplace, users can purchase and level-up NFTs.
Women angels: The most valuable investors
While India has become the world’s third-largest startup ecosystem, investing is still a male-dominated profession. But over the years, women angel investors have made their presence felt, helping infuse $608 million across 356 deals since 2015.
“Having proper representation helps create a sustainable ecosystem for everyone to succeed without any bias. These, in turn, create various opportunities for women to be in the industry and will help foster an environment where there is more understanding and acceptance for products that aren’t necessarily mainstream and are women-focused,” says Vineeta Singh, Founder and CEO of SUGAR Cosmetics.
Rise of women angels:
- With nearly four deals a month, women angels infused around $7.5 million each month between 2015 and 2022.
- Women investors were a part of 86 deals into startups with women founders and co-founders.
- Investments by women angels increased to $33.4 million in 2022.
India’s plastic ban and small businesses
On July 1, India the manufacture, import, and sale of 19 banned single-use plastics. But many small businesses and sellers are finding it tough to navigate around the drop in consumer demand and replace plastics with sustainable products.
“Alternative packaging cost is very high. The cost could go up by 15%. Also, if you replace plastic straws with paper straws, then you have to cut trees,” notes Vikas Kumar, Founder, Go Grocer, a D2C grocery brand.
Road to sustainability:
- All India Plastic Manufacturers Association estimates 88,000 units manufacturing single-use plastic could go bankrupt.
- On Justdial, the search for wood and bamboo dealers went up by 22% in Tier I cities and 29% in Tier II cities in the last one month.
- Companies such as Sunbird Straws and Cocoatrait use naturally dried coconut and cocoa husk, respectively, as alternatives for packaging.
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