Explore other editions Skyroot fuels deeptech fire; Paytm Q1 profit jumps Want this newsletter delivered to your inbox?I agree to receive newsletters and marketing communications via e-mail Thank you for subscribing to Morning DispatchWe'll soon meet in your inbox.
Happy Tuesday! Skyroot Aerospace’s success may unlock fresh funding for India’s spacetech ecosystem.
This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Transition VC’s new fund■ Operator-led startups draw funds■ TN plant leak fans cybersecurity worriesDeeptech startups to ride on Skyroot’s success; likely to fuel VC funding Skyroot Aerospace’s first successful orbital launch is more than a technical milestone; it’s a validation event for India’s private spacetech ecosystem and its long‑term investors.New benchmark: Skyroot Aerospace, India’s first spacetech unicorn valued at $1.15 billion, is poised to become a reference point for valuing deeptech startups, with demonstrated engineering capability now central to investment decisions.“The most remarkable thing about Skyroot’s successful Vikram launch today is that it validated something many in India have long believed; India has always had exceptional technical talent,” said Manu Iyer, managing director at BlueHill Capital and an investor in launch vehicle startup Ethereal.Early backers win: Early backers such as Mukesh Bansal and other angel and VC investors are seeing substantial returns.Bansal invested about $1.3 million across rounds and now holds a 5.67% stake.He has realised roughly $11 million from partial stake sales and his remaining stake is valued at about $63.2 million.Other early backers include former WhatsApp chief business officer Neeraj Arora and former Google executive Amit Singhal.
Commercial ripple effects: The Vikram‑1 mission is expected to accelerate commercial activity across the spacetech value chain—launch providers, satellite makers, component suppliers, ground stations and mission‑ops firms.
Startups like Digantara and Dhruva Space said Skyroot’s success brings much‑needed launch predictability.Also Read: Skyroot targets one Vikram rocket launch every month from 2027: CEO Pawan Kumar ChandanaPaytm Q1 profit jumps 79%; board shelves bonus share proposal Vijay Shekhar Sharma, CEO, PaytmFintech major Paytm reported a 28% year-on-year increase in operating revenue for the April-June quarter to Rs 2,448 crore, while net profit rose 79% to Rs 220 crore.
However, the company's board shelved its maiden bonus share issue proposal, choosing instead to prioritise long-term growth and profitability.Profitability gathers pace:Earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 182% to Rs 203 crore as revenue grew faster than indirect expenses.Paytm reiterated its medium-term Ebitda margin target of 15-20% over the next two to three years.Merchant payments, merchant loans, consumer payments and consumer monetisation will remain its four key growth engines.Capital stays focused on growth:Paytm said it would remain disciplined in deploying its Rs 13,529-crore cash balance across organic and acquisition opportunities.Paytm expects payment processing margins to remain above four basis points over the medium term.It will invest Rs 100 crore in Paytm Money for technology, regulatory capital and expansion of its investment and wealth businesses.Also Read: Paytm plans 10% staff increase in AI pivot, to lay off 400Transition VC launches Rs 1,500 crore....
