Page 74 - Start Ups
Battery-tech startup EMO Energy raises $1.2 million in seed funding round
Battery-tech startup EMO Energy on Tuesday said it has raised USD 1.2 million (nearly Rs 10 crore) in a seed funding round led by Transition VC and co-led by venture capital firm Gruhas
 "Battery-tech startup EMO Energy raises $1.2 million in seed funding round")
PhonePe raises additional $100 million from PE firm General Atlantic
Walmart Inc-owned payments firm PhonePe said that it has secured an additional $100 million from private equity firm General Atlantic, in the latest round of its ongoing $1 billion fundraising
 "PhonePe raises additional $100 million from PE firm General Atlantic")
Infogain to hire over 1,000 people; eyes acquisition to deepen capabilities
Infogain has said that global businesses even amid uncertainty are prioritising digitisation and customer experience to gain an edge in the market
 "Infogain to hire over 1,000 people; eyes acquisition to deepen capabilities")
More startups to shed flab amid valuation bloat; layoffs 57% of CY22
Globally, 683 companies laid off 194,659 workers in 2023. This is already 18 per cent more than the 164,591 seen in 2022
 "More startups to shed flab amid valuation bloat; layoffs 57% of CY22")
Ronnie Screwvala-led edtech unicorn upGrad records 10 mn enrolled learners
upGrad is evolving to become Asia's largest integrated learning, skilling, and workforce development and placement company
 "Ronnie Screwvala-led edtech unicorn upGrad records 10 mn enrolled learners")
Can ONDC upset Swiggy/Zomato duopoly to disrupt the food delivery market?
Although ONDC's hyperlocal tilt gives small sellers effective inroads in e-commerce, disruption in food delivery market will be contingent on building scale, meeting quality set up by Swiggy, Zomato
 "Can ONDC upset Swiggy/Zomato duopoly to disrupt the food delivery market?")
Agraga raises Rs 70 crore in funding round led by IvyCap Ventures
Digital logistics start-up Agraga has raised Rs 70 crore in a funding round led by IvyCap Ventures with participation from Alteria, the company said on Tuesday
Online gaming unicorn MPL forays into Africa, launches its app in Nigeria
MPL, which became a unicorn in 2021, has partnered with Africa's gaming publisher Carry1st to launch in the continent
 "Online gaming unicorn MPL forays into Africa, launches its app in Nigeria")
ZestMoney founders resign weeks after PhonePe calls off to acquisition
In April, ZestMoney laid off 100 employees, or about 20 per cent of its workforce
 "ZestMoney founders resign weeks after PhonePe calls off to acquisition")
e-con Systems raises Rs 100 crore from GR22 Holdings for overseas expansion
Embedded vision technology firm e-con Systems has secured Rs 100 crore investment from GR22 Holdings for expansion of business overseas, the company said on Monday
 "e-con Systems raises Rs 100 crore from GR22 Holdings for overseas expansion")
Ratan Tata-backed Upstox breaks even in FY23, aims 10x growth in user base
Ratan Tata-backed discount broking company Upstox achieved break-even in FY2022-23 with the overall revenue crossing Rs 1,000 crore, a top official has said.
 "Ratan Tata-backed Upstox breaks even in FY23, aims 10x growth in user base")
Byju's raises $250 mn from Davidson Kempner Capital at $22 bn valuation
BYJU'S is learnt to have closed $250 mn fundraising from Davidson Kempner Capital and is in process to close another funding round of $750 mn by end of this month
 "Byju's raises $250 mn from Davidson Kempner Capital at $22 bn valuation")
Tech startups find one of their last funding sources shrinking up
Climbing interest rates have made the funding more expensive for companies, and one of the biggest venture lenders faced a run on the bank that forced government regulators to seize it and sell it
 "Tech startups find one of their last funding sources shrinking up")
Start-up registrations near 100K-mark, no. of new ventures up since Covid
Top 5 sectors, including IT services, and health care, account for third of registered start-ups
 "Start-up registrations near 100K-mark, no. of new ventures up since Covid")
After life in unicorn-decacorn club, start-ups stare at down rounds
This year, start-ups have collectively raised around $4.1 billion so far
 "After life in unicorn-decacorn club, start-ups stare at down rounds")
Saas platform OTPless hires BharatPe's Anubhav Mathur, other key executives
OTPless, the startup founded by Bhavik Koladiya announced the appointment of key executives
 "Saas platform OTPless hires BharatPe's Anubhav Mathur, other key executives")
Suneil Shetty backed zero fee food delivery app Waayu launches in Mumbai
Waayu's launch comes at an interesting time when the government-backed Open Network for Digital Commerce platform is gaining more traction, following Swiggy's decision to charge Rs 2 platform fee
 "Suneil Shetty backed zero fee food delivery app Waayu launches in Mumbai")
MoS IT to empower semiconductor startups, chip designers at IIT-Delhi
Semiconductor market is projected to reach $64 billion by 2026 and MoS for Electronics & IT Rajeev will meet and encourage startups
 "MoS IT to empower semiconductor startups, chip designers at IIT-Delhi")
Meesho fires 251 more in 3rd round layoffs; cites judgement error in hiring
Before this, Meesho had fired 150 employees in April and another 300 in August
 "Meesho fires 251 more in 3rd round layoffs; cites judgement error in hiring")
Merge, acquire, survive: Startups on consolidation route as funding slows
49 M&A deals in the first quarter of 2023 already as consolidation continues in the ecosystem
 "Merge, acquire, survive: Startups on consolidation route as funding slows")