Page 27 - Start Ups

Recognised startups spared Section 68 scrutiny, others under watch: CBDT

The clarification comes amid income-tax notices issued to startups for foreign funding routed via Singapore

BluSmart stops cab bookings: Wallet woes leave users in the lurch

Early investors who exited firm say they saw signs of chaos

Magma raises $5 million Series A led by Capria to scale B2B solutions

The company has been operationally profitable since inception and is currently growing at a Rs 250 crore revenue run rate

Tighter norms, rising compliance failures driving scrutiny for startups

Jaggi brothers case spotlights rising governance issues in startup ecosystem

Zeta bets on modern code to rewrite $300 bn banking software market

The aim is to tackle a long-standing issue: core banking systems remain outdated, built on decades-old mainframes and COBOL code

Electric ride-hailing co BluSmart halts cab bookings amid Gensol crisis

Sources also confirmed that the Uber and BluSmart deal is being re-evaluated

India's D2C segment sees funding decline to $757 million in 2024

The decline in funding can be attributed to investor caution amid global economic slowdown, oversaturation of similar brands, and fluctuating unit economics driven by high customer acquisition costs

Uber's rumoured tie-up with BluSmart to achieve green goals under a cloud

Given both customer and driver dissatisfaction with Uber, partnering with BluSmart's EV fleet would augment both Uber's EV cab strength, as well as help it on its mission to zero-emission by 2040

Result preview: Capital goods sector may see modest profit growth in Q4

It would be supported by a rebound in defence and transmission orders

India's startup failure isn't about ambition, it's about the economy

Criticism of Indian startups may be valid, but the real culprit behind their consumer focus and lack of innovation is the govt's economic model

Electric ride-hailing startup BluSmart may opt for hybrid model of ops

Services likely to be offered on Uber as well

Datanomics: R&D spends by India Inc lag global peers despite improvement

India has improved its ranking in the frontier technologies readiness index from 48th in 2022 to 36th in 2024 out of a total of 170 economies

EaseMyTrip CEO, Italy's Deputy PM discuss strengthening tourism corridors

He further stated that they also discussed the growing interest of Indian students in studying abroad and the potential for investments in Italy's hospitality sector

IIMA Ventures to back 30 deep-tech startups with Rs 40 crore fund

In August 2023, both institutions signed a memorandum of understanding (MoU) to establish a jointly funded initiative with equal contributions from each side

Logistics startup Xindus raises $10 mn for expansion in India-US corridor

The Gurugram-based company plans to utilise the capital to scale its operations in the India-US corridor while expanding across the United Kingdom, Canada, Australia, Europe, and the Middle East

Xindus raises $10 mn in Series A funding round to scale up operations

The latest round was led by 3one4 Capital, co-led by Orios Venture Partners, with participation from Shastra VC and Caret Capital, Xindus said

US lender trustee Glas Trust denies allegations by Byju Raveendran

Glas would take all necessary actions to hold Byju Raveendran and his associates accountable for the harm caused to lenders and thousands of T&L customers, says spokesperson

Byju Raveendran files FIR against former Byju's RPs, EY, and Glas Trust

Valued at $22 billion in 2022, Byju's has seen its fortunes almost wiped out due to a massive cash crunch, regulatory issues and disputes with investors

Drone-based package delivery set to take off across Delhi-NCR soon

Skye Air has set a target to deliver 5 million packages via drones this CY. The company said it delivered 1.2 million packages in CY24

Amid financial crisis, BluSmart reaches 25 million trips milestone

Despite the company's challenges, BluSmart has assured that its ride-hailing operations will remain unaffected and also denied its sale to any competitor business