Dailyhunt is in advanced talks to acquire Koo, while Digantara has secured $1.88 million in an extended Series A funding round.
Dailyhunt in talks to acquire Koo
News aggregator platform Dailyhunt is in advanced talks to acquire Indian microblogging and social networking startup Koo, according to TechCrunch.
The potential acquisition could be finalised within weeks and could have a share-swap agreement, the report said.
“With the current reality of a slow investor market, the best way forward is to partner with someone who has the distribution strength to give Koo a massive user impetus and help it grow. With a platform that’s scale ready, Koo can outshine competitors with the right push on growth,” said Mayank Bidawatka, co-founder of Koo, in a LinkedIn post earlier.
In 2022, Koo had raised $6.3 million in a funding round co-led by Tiger Global and Accel with participation from Kalaari Capital, 3one4 Capital, and Dream Incubator (DI).
Digantara bags $1.88m in Series A+ round
India-based space surveillance and intelligence company Digantara has secured $1.88 million in an extended Series A funding round, reported Entrackr.
Naman Finance and Investment Private Limited led the funding round with an investment of about $1 million, while SIDBI Venture Capital participated in the round, added the report.
Founded in 2020, Digantara is a space surveillance and intelligence company focused on delivering accurate and real-time orbital insights to ensure safer space operations. The firm is backed by Peak XV, Kalaari Capital, Global Brain, Campus Fund, and others.
India is home to nearly 150 spacetech startups, with the space economy in India set to grow to $13 billion by 2025 at a CAGR of 6%, according to EY.
The country’s spacetech sector may be poised for a liftoff with the government’s decision to raise foreign investment in the capital-intensive industry.