The profitability of Elon Musk’s Starlink is a topic of debate. While Elon Musk and SpaceX President Gwynne Shotwell have claimed that Starlink is generating cash and is on its way to profitability, there are contrasting views. Critics, including Bloomberg, argue that Starlink’s profitability claims are overstated due to the high costs associated with manufacturing and launching satellites.
Starlink’s revenue is projected to be around $6.8 billion in 2024, with significant operating profit margins. However, the costs of ground terminals and satellite launches are substantial, leading some to believe that the company is still burning through more cash than it brings in.
In summary, while Starlink shows promising revenue growth and potential for profitability, the high operational costs make its current profitability status somewhat ambiguous.
Zepto raises over $31 million in extended funding round.
Zepto, a Mumbai-based quick commerce startup, has indeed raised an additional $31.25 million from existing investors like Goodwater Capital and Nexus Venture Partners. This funding was secured at the same valuation as their previous round in August, where they raised $200 million at a $1.4 billion valuation.
Zepto’s financial performance has been notable, with operating revenue increasing significantly to Rs 2,024 crore for the fiscal year ending in March 2023. However, the company also reported a substantial loss of Rs 1,272 crore for the same period.
In other funding news, mirrAR, an augmented reality platform for fashion brands, raised Rs 13 crore to expand its global market presence. WishCare, a personal-care brand, secured Rs 20 crore from Unilever Ventures. Additionally, Yamaha Motors made a strategic investment in the two-wheeler rental startup Royal Brothers to support its business expansion across India.
How Elon Musk’s Starlink Is Bringing In Billions For SpaceX
It’s exciting to see such dynamic growth and investment in these innovative companies! Do you follow any other startups or industries closely?