Semiconductors: Chips are back, but not equally or for everyone

10 days ago The Economic Times

In the space of six months, the global semiconductor industry turned from being one of the hottest sectors to being among the most beaten up and bruised. An extraordinary turnaround over the past month has added $600 billion to the value of these companies. In the past month, the weighted-average return of the global semiconductor sector jumped 21%. Small-cap companies, which we define as those between $1 billion and $10 billion, are the laggards.Note that we excluded Samsung Electronics Co . Yet as the dust settles, tensions cool, and world leaders gather again, the same reasons to fall in love with chips start to re-emerge.
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CashKaro raises Rs130 crore in fresh funding

Cashback and coupons platform CashKaro has raised Rs 130 crore as part of its recent funding round led by Affle Global Pte Ltd (AGPL).This minority investment has flowed into Pouring Pounds UK, the parent entity of Pouring Pounds India which houses the CashKaro and EarnKaro brands.CashKaro has, including the latest round, raised over Rs 125 crore from investors including Kalaari Capital, Ratan Tata , emeritus chairman of Tata Sons; Korea Investment Partners and others.Singapore-based AGPL is a fully owned subsidiary of Affle Holdings Pte Ltd (AHPL). This investment would strategically strengthen our unique business-to-consumer (B2C) engagement model as we scale CashKaro user base to over 100 million in the next few years,” said Rohan Bhargava, cofounder of CashKaro and EarnKaro, in a statement.According to the company, it drove gross merchandise value (GMV) worth Rs 4,000 crore for its partner ecommerce websites in FY22.“We are elated to announce our minority investment in CashKaro as they enter into the next phase of scalability and monetization. We appreciate the team, their strategic execution focus on profitable growth and commitment towards good corporate governance,” said Anuj Khanna Sohum, founder and chairman of AGPL.The company also crossed the Rs 200 crore revenue mark in FY22, ET reported earlier. Earlier this year, the company had also expressed plans to hire as many as 350 employees across functions, taking its overall team size to over 700 members.“CashKaro has seen fast and cost-efficient growth over the last 2 years, scaling from Rs 100 crore revenue in FY21 to Rs 225 crore in FY22, while consistently keeping losses under Rs 10 crore. We felt it was the right time to raise money and scale up our user acquisition, marketing, expansion into new business verticals, product development and hiring new talent,” said Swati Bhargava, cofounder, CashKaro and EarnKaro.

28 days ago The Economic Times
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