Page 68 - Start Ups
How Indian unicorns are forging profits out of funding winter's ice
"Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand," says Pranav Pai, founding partner at 3one4 Capital
 "How Indian unicorns are forging profits out of funding winter's ice")
Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study
Stock offer key component in increments for senior leadership roles, it says
 "Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study")
Kareena Kapoor Khan acquires minority stake in e-commerce brand Pluckk
Actress will be brand ambassador of lifestyle-oriented fresh fruit and vegetables brand
 "Kareena Kapoor Khan acquires minority stake in e-commerce brand Pluckk")
Nandan Nilekani pitches ONDC to start-ups to democratise e-commerce
VC firm Antler has collaborated with Nilekani, FIDE and ONDC and launched the country's first ONDC-focused venture platform to help entrepreneurs create businesses and succeed on the open protocol
 "Nandan Nilekani pitches ONDC to start-ups to democratise e-commerce")
AI Fitness App 'All is Well' raises Rs 2 cr to integrate wearable tech
The company will utilise the funds to include new sports, integrate wearable technology and filing international patents
 "AI Fitness App 'All is Well' raises Rs 2 cr to integrate wearable tech")
Green shoots of profitability finally emerging among Startups in India
Many companies such as Zomato, Meesho, and MobiKwik have now turned profitable while others like Paytm, Delhivery, and Zepto have showcased a clear path to profitability
 "Green shoots of profitability finally emerging among Startups in India")
Gaming unicorn MPL lays off 350 employees, revisits office infra costs
The move comes at a time when the GST Council has recommended imposing a 28 per cent tax on full deposit value, with no distinction made between games of skill and chance
 "Gaming unicorn MPL lays off 350 employees, revisits office infra costs")
MPL to lay off 350 employees after 28% GST imposed on online gaming
The new taxation rule increases the tax burden on MPL by as much as 350-400 per cent, Srinivas wrote in the email on Tuesday
IISc team makes indigenous industrial-grade autopilot system for drones
UAV autopilot systems allow an unmanned aerial vehicle, such as a drone, to perform entire missions autonomously without the need for manual remote control
 "IISc team makes indigenous industrial-grade autopilot system for drones")
Indian fintech sector: A resilient green shoot of the start-up ecosystem
India maintained its position as the third-highest funded fintech industry globally, following the US and UK, similar to last year
 "Indian fintech sector: A resilient green shoot of the start-up ecosystem")
Skilling start-up Disprz gets $30 mn in Series-C funding from Lumos, others
Established in 2015, Disprz's client base includes firms like ICICI Bank, Amazon, Indian Oil, Bajaj Allianz, Ather Energy, HDFC Life, and Starbucks, among others
 "Skilling start-up Disprz gets $30 mn in Series-C funding from Lumos, others")
ISRO transfers satellite bus tech to Alpha Design to boost private sector
The technology transfer documents were formally handed over by D Radhakrishnan, Chairman and Managing Director of NSIL to Col. H S Shankar (Retd.), Chairman and Managing Director of ADTL
 "ISRO transfers satellite bus tech to Alpha Design to boost private sector")
Dropping out and finishing your studies too: Boon for startup culture?
Sounds like having your cake and eating it too, as IITs and other institutes allow early exits. What does this mean for the dropout culture in startups?
 "Dropping out and finishing your studies too: Boon for startup culture?")
Byju's lenders accused of using bogus loan-default claims to gain control
The distressed-debt lenders are "playing hardball" to create leverage in negotiations to restructure the loan and causing problems for Byju's executives
 "Byju's lenders accused of using bogus loan-default claims to gain control")
Madras HC dismisses pleas of 14 firms against Google billing policy
Startups allege tech giant had introduced new billing system to circumvent Competition Commission of India's order
 "Madras HC dismisses pleas of 14 firms against Google billing policy")
Byju's Aakash unit forced to rework board after breaching loan agreement
Davidson Kempner, which manages more than $38 billion, forced the changes in Aaksah's board as the borrower was in breach of some covenants on a $250 million loan
 "Byju's Aakash unit forced to rework board after breaching loan agreement")
Govt recognises 98,119 entities as startups as on Apr 30: MoS Comm in LS
"The approved incubators have selected 1,039 startups for financial support of Rs 176.63 crore," he added
 "Govt recognises 98,119 entities as startups as on Apr 30: MoS Comm in LS")
Addverb: Automation company making robots in India, for the world
The Addverb journey began at Asian Paints, where the co-founders Sangeet Kumar, Prateek Jain, Bir Singh, and Satish Kumar Shukla, worked on automating warehouses
 "Addverb: Automation company making robots in India, for the world")
Cashfree Payments rebrands Zecpe, a one-click checkout platform, as Ecom360
Ecom360 aims to address core problems of D2C businesses by improving checkout and payment processes
 "Cashfree Payments rebrands Zecpe, a one-click checkout platform, as Ecom360")
Meesho delists 5.2 million counterfeit, restricted products in six months
The total deactivated products account for less than 5 per cent of the total products listed on Meesho's platform, a company official said
 "Meesho delists 5.2 million counterfeit, restricted products in six months")