Page 62 - Start Ups

How Varun and Ghazal Alagh's Mamaearth became profitable D2C empire

Celebrating seven years of success, the company eyes future growth with a diversified portfolio and strong offline presence

India to create AI computing capacity for start-ups, researchers: Minister

Capacity will be created by the public sector and separately in collaboration with private companies, says Rajeev Chandrasekhar

Aye Finance raises Rs 310 cr in funding round led by UK development agency

Digital lender provides working capital and small loans to micro-enterprises

OYO elevates Rakesh Kumar as Chief Financial Officer with effect from Jan 1

Abhishek Gupta, the current CFO, will continue with OYO in an advisory and mentorship capacity, OYO said in a statement

Fintechs rule the roost in India's startup ecosystem this year, shows data

While the overall investment paints a gloomy picture, a handful of firms raised big-ticket funding, and some sectors managed to hold ground

Startup funding in 2023 lowest in 5 yrs as big-ticket deals dip: Report

Funding rounds of $100 million+ fall 69% compared to 2022; only two unicorns created after 23 last year

Indian startups' funding winter persists, 72% decline in 2023: Report

The report highlighted that the funding declined across all stages, with late-stage funding dropping over 73%. Strong IPO momentum, and investors' interest in space tech were a silver lining

Minuscule AI startup raises $41 million to tap growth in Indian market

Sarvam AI is building large language models targeted at unique uses in Indian languages, aimed at making apps available at price points that the country's 1.4 billion people can afford

Govt recognises 114,902 entities as startups as on Oct 31: Goyal tells LS

These eligible firms are allowed to seek fiscal incentives under the Startup India Action Plan, which was launched in January 2016, and that includes income tax exemption for three years

Razorpay's POS business clocks 60% growth after Ezetap acquisition

Ezetap was Razorpay's sixth acquisition

MPL's revenue surges 63% to $104.6 mn in FY23; losses narrowed by over 70%

The gaming unicorn has derived 38% of this revenue from its operations in international markets up from 11 per cent in FY22

Fintech startup ZestMoney to shut down, to lay off remaining 130 employees

The management told the employees that they had to take such a tough decision as the business has not been able to grow, according to the sources.

Edtech company Byju's calls for AGM to approve audited FY22 financials

Calls AGM to okay audited financials

IN-SPACe launches seed fund scheme for startups using space technology

The scheme has the provision of providing financial assistance of up to Rs 1 crore in addition to mentorship support, training and networking opportunities, it said

Park+ to turn profitable in Mar 2024 qtr, double revenue to Rs 200 cr

Park+ Founder and CEO Amit Lakhotia said that the company at present has operations in about 30 cities and plans to expand to over 100 cities by 2024

Practro aims profitability next fiscal, IPO in works: CEO Shashank ND

Practo is looking to enhance presence in smaller cities and towns and leverage AI to analyse data and provide much better analysis and outcomes in healthcare

Fantasy sports companies get World Cup boost, witness growth in revenue

Spurred by increased traffic, gaming unicorn Dream11, the largest Indian platform for fantasy gaming, breached the 200 million-threshold of registered users on its platform

Zomato's superior execution should hold it in good stead; stock up slightly

Zomato's share loss could be attributable to decisions like the temporary suspension of its loyalty membership programme and the shutdown of operations in 225 cities

Prosus marked down investment in Byju's, bring its valuation to below $3 bn

This is not the first time that Prosus has marked down its investments in the edtech firm

How Amarinder Singh's Clove Dental is standardising India's oral healthcare

The startup sets ambitious target, plans to increase clinics to 1,000 and serve 3 million patients annually by FY24