Quarterly Update Q1 2023-24

Dear Reader,

We are pleased to announce our partnership with two cutting-edge technology startups in the drone space. Please, join me in welcoming BluJ Aero and Okulo Aerospace into the Ideaspring family.

Funding winter continues, with a 72% decline in Indian startup funding and a decline of 52% in early-stage funding as compared to H1 2022.We are optimistic that this will pass and advise entrepreneurs to focus on customers and cash flow.

We continue to track and learn the emerging trends in GenAI and look for startups with a significant moat. In the last quarter, we have hosted founders and experts in the field of cybersecurity and ONDC, in our office. We have also partnered with ecosystem players in FinTech and SaaS to meet interesting startups as well as enhance our understanding of the space. Looking forward to continue engaging with founders building in these sectors.

New Investments

BluJ Aero: Why did we invest

Okulo Aerospace: Why did we invest

Ecosystem Initiatives by Ideaspring Capital

Last month, we were honored to host Jitendra Gupta, Founder, and CEO, Jupiter in our office as part of our Founder Series talks. Jiten being a seasoned entrepreneur and a prolific angel investor, shared his startup journey and learnings with our founders. It was an interactive discussion, with Jiten answering the queries raised by the founders and also offering his insights on growth and success in the startup world.

In June, we also hosted our second cybersecurity meetup recently in collaboration with Ofofo. We were privileged to have Anil Valluri, MD and Vice President at Palo Alto Networks share his views on trends in cybersecurity, opportunities for Indian startups and VCs, growth strategies for scaling up and working with corporates in the space. We also hosted a great bunch of founders building in the cybersecurity space as they discussed their solutions along with the latest trends in cybersecurity. If you are an early-stage founder building in cybersecurity, do reach out to us at aniketh@ideaspringcap.com

In the month of May, we hosted a workshop on Open Network For Digital Commerce (ONDC) in our office. The workshop's agenda was to understand the potential of ONDC and identify the investible opportunities in the space. The group was a mix of founders, representative from ONDC, other ecosystem partners as well as our portfolio companies building in this space.

Portfolio Updates