Page 57 - Start Ups

Several startups get RBI approval to operate as payment aggregators

According to industry insiders, several such applications are currently being processed by the RBI and more startups are expected to get approvals in the coming months

SoftBank-backed Meesho unveils Valmo to enable low-cost deliveries

Valmo would partner with fulfilment centres across the country. This way, it aims to create a national logistics solution by eliminating entry barriers for local players

Meesho reduces logistics cost by 5% through software infra platform Valmo

Valmo currently handles 20-22 per cent of orders of Meesho, which it plans to double in the next 12-18 months

Enterprise fintech industry set to surge, aiming for $20 bn market by 2030

'Large and small banks have started investing heavily in tech and are focusing on scaling their digital business throwing up opportunities for enterprise fintech firms'

Will homegrown titles redefine India's burgeoning gaming industry?

The Indian gaming market, currently valued at $3.1 bn, is expected to reach a valuation of $7.5 bn by FY28

On Paytm crisis, startup founders write to PM, RBI to review curbs: Report

Paytm crisis: Last Wednesday, the RBI prohibited Paytm Payments Bank from accepting further deposits, crediting any transactions on customer accounts, digital wallets, etc, beyond February 29

upGrad commits Rs 100 crore for 100 'connect and counselling' hubs

Initial reactions have been strong, with over 500 career counselling sessions in the first 30 days. The goal is for the 100 centres to counsel over half a million individuals on their career moves

History set to be made: India's first pvt launchpad readies for takeoff

Agnibaan is a two stage launch vehicle with the capability to carry up to 100 kilo gram payload to an extent of around 700 km to the lower earth orbit

Vanguard cuts valuation of Ola Cabs by about 30% at about $1.88 billion

Ola Cabs was co-founded by Bhavish Aggarwal in 2010 and found immediate backing from marquee investors such as Softbank and Tiger Global, besides Vanguard

Snap-E Cabs raises $2.5 million, plans to add 300-400 EVs by FY24

The fresh funds will fuel talent acquisition, technology upgrades, new services and geographical expansion, officials said

Zoho FY23 results: Net profit crosses Rs 2,800 crore, revenue up 30%

Revenue growth in the US was 24.7%, followed by 29.7% in Europe

Edtech firm Byju's says investors have no voting rights on CEO change

At least six BYJU's investors have called for an Extraordinary General Meeting (EGM) to address issues at the edtech major and oust founders from having control over the firm

Tax benefits extension to startups till Mar 2025 progressive move: Industry

Sindhu Gangadharan, Senior VP and MD, SAP Labs India and Vice Chairperson of Nasscom, said the extension of tax benefits for startups by one another year is a progressive and encouraging move

Temasek Holdings exits PB Fintech, sells entire 5.4% stake for Rs 2,425 cr

According to the block deal data, Claymore Investments (Mauritius) Pte offloaded a total of 2,44,30,015 shares, representing a 5.42 per cent stake in PB Fintech

Shareholders Prosus, others call for ouster of Byju's founders in new salvo

'We are deeply concerned about the future stability of the company under its current leadership and with the current constitution of the Board,' the shareholders said in a statement

UP plans to integrate higher education with incubators to support biz ideas

According to a KPMG report, Uttar Pradesh emerged the country's fourth-largest startup ecosystem, with eight unicorns and two potential soonicorns. At present, two soonicorns are working in the state

Byju's to raise $200 million via rights issue from existing investors

Byju Raveendran said that Byju's is now less than a quarter away from achieving operational profitability

Budget expectations: Income tax benefits, support to women entrepreneurs

They also demand for parity in taxation among companies, partnerships and limited liability partnerships

Flipkart co-founder Binny Bansal exits board, launches new startup OppDoor

Binny Bansal has officially exited the board the Walmart-owned e-commerce firm, which he founded along with Sachin Bansal 16 years ago

Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn

The AI startup is the third venture helmed by Aggarwal to achieve a $1 billion valuation, after mobility firm Ola and electric vehicle manufacturer Ola Electric