A year ago, SoftBank, high on its impressive earnings numbers, could not have predicted that it would see an annual loss of $13 billion led by its two Vision Funds losing a whopping $26.1 billion in FY 2022.
In the earnings call, founder Masayoshi Son took a defensive stance, quipping, “When it rains, you open an umbrella.”
This defensive approach is being adopted by a number of investors, with macro-economic factors such as high inflation, the Russia-Ukraine war, and China’s tech crackdown spooking the global markets.
“Winter is here,” Sanjay Mehta, Founder of 100X.VC, told YourStory. “VCs are becoming VCs again on discovering enduring all-weather businesses to invest.”
The Interview
In conversation with YourStory, Niraj Jha, Founder and CEO, Hanuman, talks about how the startup caters to the emergency medical needs of patients by servicing them with an ambulance at the click of a finger, and his plans of taking it to different locations across India.
Editor’s Pick: DreamFolks Services
Gurugram-based DreamFolks Services began in 2012 as an aggregator platform for airport lounges and now claims to be a market leader, reaching about 10 million end users per annum through 44 corporate clients in 121 countries.
Bootstrapped and profitable since its inception, the company hopes to launch its initial public offering (IPO) and filed for Draft Red Herring Prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) early this year. Read more.
Startup Spotlight
Bringing order to agricultural markets
Shashank Singh and Bhuvnesh Gupta identified that wholesale buyers face difficulty when it comes to bulk procurement. So, the duo started Poshn in 2020.
The digital network offers access to distribution to suppliers in fragmented markets, as well as enables efficient discovery of prices and commodities and working capital (credit) for suppliers. It recently raised $3.8 million in funding led by Prime Venture Partners. Read more.
Top Stories of the Week
- Of the 15 unicorns of 2022, 5 have a woman co-founder. Does this mean the Indian startup ecosystem is finally ready to be more than yet another boys’ club? Read more.
- As money pours into the embedded finance sector, touted as the next big wave in fintech, YourStory spoke to top VCs in the space for their views on embedded finance infrastructure startups, also known as pipes, and the key future trends.
Before you go, stay inspired with…
What people will remember about you is who you have been as a leader, and the motion of going from a tough project to a successful project.
— Sangita Agarwal, MD, Accenture
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