Page 69 - Start Ups

Magicpin app crashes under tomato demand, stocks sold out within 10 mins

The surge in traffic resulted after the firm announced its 'tomatoes @ Rs70' initiative

Walmart buys out $1.4 billion hedge fund Tiger Global's stake in Flipkart

Walmart acquired a majority stake of 77% in Flipkart for about $16 billion in 2018, and later that year said it could take the company public in four years

IPO-bound Ola Electric recorded $136 million loss in FY23: Report

The e-scooter maker last year in June issued a statement saying it was "on track to surpass $1 billion run rate by end of this year" and "the future forecast looks even stronger."

ESOP buybacks among Indian start-ups may resurge as macro headwinds ebb

ESOP buybacks, the primary method of liquidation for employee-owned stocks, usually follow the prevailing funding trend

Servotech Power to make EV components with initial investment of Rs 30 cr

The initial investment will be made along with the company's subsidiary Techbec Green Energy Pvt Ltd and another Rs 300 crore by March 2025

Zypp Electric allocates Rs 1.5 crore for buyback, first in EV industry

Zypp Electric said the allocation has been made to 15 employees who have been in the company for over a year

Internet, telecom start-up Wiom raises $17mn for expanding business

Company gives customers unlimited internet starting at Rs 10, taps into government's PM-WANI framework

Together Fund announces new fund worth $150 mn; to focus on AI startups

Together Fund was founded by Girish Mathrubootham, (co-founder, Freshworks), Manav Garg, (founder, Eka Software) and Shubham Gupta, who used to lead SaaS deals at Matrix Partners India

Governance should be front & centre for startups: Tata 1mg co-founder

Addressing the recent governance and financial lapses faced by startups such as Byju's, he said, "As an ecosystem we are waking up to a lot of issues around governance controls"

How Ankit Agrawal is building InsuranceDekho as fastest growing insurtech

InsuranceDekho was started in 2017 with a vision of democratising the Indian insurance sector by simplifying the insurance buying, selling, and claim process

Swiggy enters credit card space, launches co-branded product with HDFC Bank

Card will operate on Mastercard's payment network; rollout in phases on Swiggy app overnext 7-10 days

Star founder Raveendran broke down in tears as crises engulfed Byju's

Without easy access to global capital, companies are now facing greater scrutiny over corporate governance, jeopardizing India's quest to pull even with the US and China as a tech capital of the world

AI startup ZYBER 365 secures $100 mn in funding led by SRAM & MRAM

The capital will play a key role in fuelling the company's expansion plans, enhancing its technological capabilities and solidifying its global market presence, the company said

Endless troubles: What is happening at quick commerce platform Dunzo?

Quick commerce player Dunzo is struggling not only with financial losses but also with keeping its operations afloat

Saarthi.ai fires employees in batches, withholds salaries; cites 'pressure'

A post read: "Employees are scared to call this out as they are worried that they won't get their backlog salary"

VC investment in Indian startups declines by 76.4% YoY in H1 2023: Report

India is among the top five global markets in terms of both VC funding deal volume and value and has experienced a relatively higher impact compared to the US, China, and the UK

Profitable Indian unicorns to grow from 30 in FY22 to 55 in FY27: Report

Their total loss is expected to reduce from $7.1 bn to $1.9 bn, says Redseer

Dunzo seeks $20 million additional investment from Reliance Retail

Reliance Retail picked up 25.8% of Dunzo's shares back in January 2022 after investing $240 million into the startup

Startups in India to grow tenfold in next 4-5 years: Rajeev Chandrasekhar

From being predominantly focussed on IT and ITes, the next 4-5 years will witness substantial growth for startups and unicorns, Chandrasekhar said

Byju's appoints ex-upGrad chief Arjun Mohan as CEO for int'l biz: Report

Mohan was with Byju's for 11 years as its Chief Business Officer before moving on to join Ronnie Screwvala-promoted upGrad as its Chief Executive Officer for India