First Cheque by Jungle Ventures: https://www.jungle.vc/first-cheque

Notion Dashboard: https://meadow-pillow-7fa.notion.site...

This week funding: https://meadow-pillow-7fa.notion.site...

Funding chart: https://docs.google.com/spreadsheets/...
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00:00 Intro
00:19 Pixxel inaugurates MegaPixxel
01:12 Ola Electric is the first Indian two-wheeler company to get a DVA certificate
02:17 ZestMoney gets acquired by DMI Group
02:50 Sponsor segment
04:26 SoftBank makes $650 million as it completely exits PolicyBazaa
04:45 Upstox become profitable
05:53 National Startup Awards 2023
07:49 Funding news
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Pixxel inaugurates MegaPixxel:

1. Pixxel, Indian spacetech startup, that’s planning to launch the world’s highest resolution hyperspectral satellite constellation, has launched their own satellite and spacecraft manufacturing facility “MegaPixxel” in Bengaluru.
2. This is where the company will be designing, manufacturing and testing their satellites before they are ready to be launched in space.
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Ola Electric is the first Indian two-wheeler company to get a DVA certificate:

1. Ola Electric claims to have become the first Indian two-wheeler company have have received the Domestic Value Addition (DVA) certificate under the Production Linked Incentive (PLI) Scheme.
2. One of the key components for getting this certification was to achieve 50% domestic value addition - which reflects the amount of value added to the domestic manufacturing ecosystem.
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ZestMoney gets acquired by DMI Group:

1. Buy now pay later startup ZestMoney, which had shut down its operations in December 2023, is now acquired by DMI Finance, the lending arm of the DMI Group.
2. With this acquisition, DMI Finance will get exclusive rights to all ZestMoney brands and it will become the preferred lending partner of ZestMoney.
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SoftBank makes $650 million as it completely exits PolicyBazaa:

1. SoftBank had invested around 200 million dollars into PB Fintech, the parent company of PolicyBazaar.
2. They have now reportedly completely exited the company - making a handsome 650 million dollars in the process. Which is 3.5X of their initial investment.
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Upstox become profitable:

1. Upstox is the latest Indian startup to turn profitable. Their revenue has crossed 1,000 crore rupees while making a profit of 25 crore rupees in FY23.
2. It’s interesting to note that Upstox is the latest stock broking platform to turn profitable and now, all the top 5 stock broking platforms in India are profitable. These include the Groww, Zerodha, AngelOne, Upstox and ICICIDirect.
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National Startup Awards 2023:

1. On 16th January 2024, India celebrated its 8th National Startup Day and Startup India also declared the winners of the National Startup Awards 2023.
2. The first is Atsuya Technologies, which won the Genesis Innovator of the Year award.
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State Startup Rankings 2022:

1. Every year, Startup India ranks Indian states and union territories based on the growth of their startup ecosystem by evaluating them across 7 reform areas.
2. There are five states - Gujarat, Karnataka, Kerala, Tamil Nadu and Himachal Pradesh that are among the “Best Performer” states.
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