Page 46 - Start Ups

Streamlining business procurement: Inside ProcMart's B2B Marketplace

The startup streamlines indirect procurement by centralising the process onto a single platform, serving as the single point-of-contact between businesses and suppliers

Infra.Market raises $50 million from existing investor MARS Unicorn Fund

Infra.Market intends to use the proceeds of the latest raise to cater to newer global markets and increase its presence across product verticals

Space startup Agnikul calls off maiden rocket launch for fourth time

Launches of India's second privately built rocket, and first using a combination of gas and liquid fuel, had been aborted three times before because of technical issues

Top EV ride-hailer BluSmart seeks $300 million in 3 yrs to expand car fleet

Part of the funding it raises will go toward the company's expansion beyond Delhi and the southern Indian city of Bengaluru. BluSmart will launch in Dubai next month with about 100 Audi EVs

Fitch changes Softbank-backed Oyo's long-term rating from 'B-' to 'B'

Oyo had around $100 million in cash at end-March 2024, a committed undrawn facility of $25 million, and Fitch expects the company to generate about $50 million in free cash flow in FY25

Indya raises Rs 50 crore funds from Sangita Jindal, JSW, others

Three fourths of the funding is equity infusion for a minority stake, while the rest is debt, Indya's co-founder Shivani Poddar said

Flipkart to Swiggy: Valuations of top startups on path to recovery in 2024

After inflated valuations in 2022 and subsequent markdowns, the companies are on the path to recovery to keep their valuations realistic as they aim for profitability

Indian startup ecosystem is mature, set to bolster economy: AWS' Raghavan

India's strong developer ecosystem has further bolstered the startup scene, offering a competitive advantage and fostering a culture of innovation, Raghavan, Head, Startups, AWS India, added

Investments by PE, VC funds decline 35% in April to $4.4 bn: Report

The number of deals in April stood at 98, which was 56 per cent higher than the year-ago period, the report by EY, a consultancy firm, and industry lobby grouping IVCA said

ICAI aims to facilitate $200 mn funding through startup event in June

It will organise the second edition of the Startup Sphere, and more than 10,000 people from the startup ecosystem are expected to participate in the event, according to a release

Crypto exchange CoinSwitch publishes third edition of proof of reserves

Assets held by PeepalCo, the parent brand of CoinSwitch, are in addition to these funds and are not included in the PoR assessment

Prosus, Dharana, Vy Capital to buy Urban Company's shares worth Rs 203 cr

Urban Company has announced its fifth Employee Stock Ownership Plan (ESOP) sale, with a total secondary transaction amount of about Rs 203 crore

Ola moves tech workloads out of Microsoft's Azure, says Bhavish Aggarwal

Although Krutrim managed to get 2,500 developers, there was no clarity if any companies have joined the platform or have shown interest in joining the platform

Niro hits Rs 1,000 crore disbursement milestone with fintech partnerships

The uptick in credit disbursements follows closely on the heels of the firm reaching its previous milestone of Rs 500 crore in August last year

Oyo eyes equity from private investors at valuation of up to $4 bn: Founder

The IPO-bound firm, backed by Softbank, had its maiden net profitable year, posting a profit after tax (PAT) of Rs 99.6 crore (USD 12 million) in the 2023-24 financial year

Edtech company Byju's starts new batches in 240 centres across India

On May 19, Byju Raveendran, founder and CEO of Byju's, addressed all Byju's Tuition Centres (BTC) heads and shared a new business model, based on intrapreneurship.

Reloy's revenue up 65% to Rs 21 cr in FY24, referral sales hit Rs 1,450 cr

The company's revenue stood at Rs 12.7 crore in the 2022-23 fiscal

From Zerodha to Cars24, 10 unicorns to hop on government-backed ONDC

ONDC in 'serious discussions' with Amazon, Flipkart to join the network

40 start-ups extend support to Digital Competition Bill in a letter to MCA

In the letter, the start-ups have also requested an upward revision of the thresholds for designating Systematically Significant Digital Enterprises (SSDEs)

Uber's India tech team powers Uber Eats to 1 million merchants globally

Uber said this milestone marks a significant step in Uber Eats' journey, while also underscoring the role of the India engineering support centres in the growth and evolution of the business