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Expansion
Indian startup companies are not getting help due to the slowdown in the global economy. In the third quarter of this year, these companies raised only $2.7 billion from 205 deals, a two-year low. According to a report by PwC, only two startups have become unicorns during July to September. It is difficult to predict how long this recession will last. But it clearly shows that both investors and founders are taking precautions. The average funding per deal has been $45 million.
20 unicorns formed in the second quarter
Globally, 20 unicorns were formed in the July-September quarter. Of this, 45 per cent belong to the SaaS segment. While no company has become a Decacorn. The report said that all phases of investment have witnessed a decline which includes early, growth and late all. In general, early-stage startups will be able to raise capital more easily as they are generally not affected by volatility in the public markets and late deals.
Infosys profit up 11 percent, will buy shares worth 9300 crores
New Delhi. Infosys reported a profit of Rs 6,021 crore in the second quarter, an increase of 11 per cent over the same quarter a year ago. The company said on Thursday that it will buy back shares worth Rs 9,300 crore. With this, it will spend Rs 6,940 crore on dividend payment. Its revenue grew 23.4 per cent to Rs 36,538 crore.