 Morning Dispatch |
Skyroot eyes a rocket a month; FIFA final drives delivery apps
Want this newsletter delivered to your inbox?
I agree to receive newsletters and marketing communications via e-mail
Thank you for subscribing to Morning Dispatch
We'll soon meet in your inbox.
Happy Monday! Skyroot is gearing up for more frequent Vikram rocket launches. This and more in today’s ETtech Morning Dispatch.
Also in the letter:
■ IT pricing squeeze
■ Plazza bags funding
■ Cleartrip eyes breakeven
Pawan Kumar Chandana, and Naga Bharath Daka, cofounder, Skyroot Aerospace
Skyroot has proved it can reach orbit. Its next challenge is proving it can do it every month. The Hyderabad-based startup plans to build the capacity to launch one Vikram-1 rocket a month from next year, cofounder and CEO Pawan Kumar Chandana told us in an interview.
Scaling up: The company, which became India’s first spacetech unicorn after raising $60 million earlier this year, says demand is already outstripping supply, making manufacturing, not customers, the challenge globally. Another Vikram-1 test flight is planned later this year as Skyroot works towards commercial operations.
Also Read: Skyroot Aerospace makes history: India's first private rocket successfully places payloads into orbit
Betting on India: While overseas customers remain key, Chandana believes just two or three large satellite programmes, including projects like Jio’s planned LEO constellation, could significantly expand the domestic launch market.
He also said discussions with the government are progressing around programmes such as the space-based surveillance initiative (SBS III) and EO-PPP launch infrastructure.
Also Read: Agnikul’s next flight to attempt reusable booster landing on sea barge: CEO Srinath Ravichandran
Direct-to-consumer (D2C) brands and restaurants reported an uptick in orders on online food delivery and quick commerce platforms over the weekend, ahead of the FIFA World Cup final between Spain and Argentina.
App revamp:
• Amazon Now and Zepto revamped their apps with offers and discounts on snacks, beverages, desserts, and party essentials.
• Ownly ran offers for items starting at Rs 9 between 10 pm and 3 am on Sunday night.
• Zepto also rolled out a game on its app where winners can avail of additional discounts.
Tell me more:
• Industry experts said micro-events are increasingly becoming a growth driver for online delivery apps, as users seek instant gratification and convenience.
• In select pincodes, delivery riders were offered additional payouts to ensure their late-night availability.
• Quick service restaurant chains in Bengaluru, Pune, and New Delhi stocked their kitchens and extended their staff’s working hours on Sunday.
Also Read: Quick commerce platforms gear up for gourmet grocery war
.jpg "IT services industry_gig workforce_testing, application development and support, cloud specialists_THUMB IMAGE_ETTECH_2 (1)")
Companies are demanding bigger discounts on IT contracts, putting more pressure on the revenues of IT services firms.
Why it matters:
• Discount levels have increased to 30-40%, compared with 20-30% a year ago, as clients expect IT providers to pass on savings from automation, generative artificial intelligence (AI) and productivity improvements.
• Industry experts expect this pricing pressure to continue for the next two to three years. It is also reflected in the largely flat sequential growth in total contract value (TCV) reported by TCS, Wipro, Tech Mahindra and LTIMindtree in the first quarter, despite securing several large deals.
• Analysts said customers are negotiating more aggressively on both contract renewals and new projects, focusing less on billing rates and more on measurable productivity gains.
Analyst take: “Traditional pricing discounts are becoming a less meaningful measure because buyers are negotiating around productivity commitments rather than headline rates,” said Phil Fersht, chief executive officer of HFS Research.
The trend comes even as large IT services companies continue to announce major deal wins, with overall TCV growth remaining uneven.
Aman Priyadarshi, founder & CEO, Plazza
Plazza raises $15 million: Quick medicine delivery startup Plazza has raised $15 million in a round co-led by Accel, Elevation Capital, and Nexus Venture Partners, with participation from existing investors All In Capital and Better Capital.
Cleartrip targets early-2027 breakeven: Flipkart-owned Cleartrip is looking to diversify its flight-heavy business by scaling its hotel, train, and bus verticals, and achieving breakeven by early 2027, chief growth and business officer Manjari Singhal told ET.
■ Apple targets dozens of OpenAI employees with legal letters (FT)
■ The risk of weather data sabotage is rising (MIT Technology Review)
■ Kimi: Threat or menace? (TechCrunch)
Also in the letter:
■ IT pricing squeeze
■ Plazza bags funding
■ Cleartrip eyes breakeven
Skyroot targets one Vikram rocket launch every month from 2027: CEO
Skyroot has proved it can reach orbit. Its next challenge is proving it can do it every month. The Hyderabad-based startup plans to build the capacity to launch one Vikram-1 rocket a month from next year, cofounder and CEO Pawan Kumar Chandana told us in an interview.
Scaling up: The company, which became India’s first spacetech unicorn after raising $60 million earlier this year, says demand is already outstripping supply, making manufacturing, not customers, the challenge globally. Another Vikram-1 test flight is planned later this year as Skyroot works towards commercial operations.
Also Read: Skyroot Aerospace makes history: India's first private rocket successfully places payloads into orbit
Betting on India: While overseas customers remain key, Chandana believes just two or three large satellite programmes, including projects like Jio’s planned LEO constellation, could significantly expand the domestic launch market.
He also said discussions with the government are progressing around programmes such as the space-based surveillance initiative (SBS III) and EO-PPP launch infrastructure.
Also Read: Agnikul’s next flight to attempt reusable booster landing on sea barge: CEO Srinath Ravichandran
FIFA World Cup final drives online sales for D2C brands and restaurants
Direct-to-consumer (D2C) brands and restaurants reported an uptick in orders on online food delivery and quick commerce platforms over the weekend, ahead of the FIFA World Cup final between Spain and Argentina.
App revamp:
• Amazon Now and Zepto revamped their apps with offers and discounts on snacks, beverages, desserts, and party essentials.
• Ownly ran offers for items starting at Rs 9 between 10 pm and 3 am on Sunday night.
• Zepto also rolled out a game on its app where winners can avail of additional discounts.
Tell me more:
• Industry experts said micro-events are increasingly becoming a growth driver for online delivery apps, as users seek instant gratification and convenience.
• In select pincodes, delivery riders were offered additional payouts to ensure their late-night availability.
• Quick service restaurant chains in Bengaluru, Pune, and New Delhi stocked their kitchens and extended their staff’s working hours on Sunday.
Also Read: Quick commerce platforms gear up for gourmet grocery war
Clients seek up to 40% discount on IT contracts
Companies are demanding bigger discounts on IT contracts, putting more pressure on the revenues of IT services firms.
Why it matters:
• Discount levels have increased to 30-40%, compared with 20-30% a year ago, as clients expect IT providers to pass on savings from automation, generative artificial intelligence (AI) and productivity improvements.
• Industry experts expect this pricing pressure to continue for the next two to three years. It is also reflected in the largely flat sequential growth in total contract value (TCV) reported by TCS, Wipro, Tech Mahindra and LTIMindtree in the first quarter, despite securing several large deals.
• Analysts said customers are negotiating more aggressively on both contract renewals and new projects, focusing less on billing rates and more on measurable productivity gains.
Analyst take: “Traditional pricing discounts are becoming a less meaningful measure because buyers are negotiating around productivity commitments rather than headline rates,” said Phil Fersht, chief executive officer of HFS Research.
The trend comes even as large IT services companies continue to announce major deal wins, with overall TCV growth remaining uneven.
Other Top Stories By Our Reporters
Plazza raises $15 million: Quick medicine delivery startup Plazza has raised $15 million in a round co-led by Accel, Elevation Capital, and Nexus Venture Partners, with participation from existing investors All In Capital and Better Capital.
Cleartrip targets early-2027 breakeven: Flipkart-owned Cleartrip is looking to diversify its flight-heavy business by scaling its hotel, train, and bus verticals, and achieving breakeven by early 2027, chief growth and business officer Manjari Singhal told ET.
Global Picks We Are Reading
■ Apple targets dozens of OpenAI employees with legal letters (FT)
■ The risk of weather data sabotage is rising (MIT Technology Review)
■ Kimi: Threat or menace? (TechCrunch)
Want this newsletter delivered to your inbox?
I agree to receive newsletters and marketing communications via e-mail