Page 12 - Start- Ups

Unacademy cofounder and CTO Hemesh Singh quits the edtech company

After almost a decade of building Unacademy, Singh has decided to move from an executive role to an advisory role

India's strong growth leading to trend of 'reverse flipping' for startups

India's strong growth is leading to a trend of 'reverse flipping' as domestic startups that once used to move abroad for capital access and tax benefits are now returning home, a top government official has said. Commerce Secretary Sunil Barthwal also said that the digital economy along with emerging technologies like AI and the rise of data centres were key to future Indian growth. He was speaking at an event in Singapore organised by the commerce ministry to showcase various investment opportunities in India. It was organised on the sidelines of the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore. Barthwal stressed how India's growth rate is nearly double that of other emerging market economies. "He remarked on how this strong growth is also leading to a trend of 'reverse flipping', where Indian startups that once moved abroad for capital access and tax benefits are now returning home," the ministry said in a statement on

Streamlining business procurement: Inside ProcMart's B2B Marketplace

The startup streamlines indirect procurement by centralising the process onto a single platform, serving as the single point-of-contact between businesses and suppliers

Niro hits Rs 1,000 crore disbursement milestone with fintech partnerships

The uptick in credit disbursements follows closely on the heels of the firm reaching its previous milestone of Rs 500 crore in August last year

Number of Agri startups jumps multifold to 7,000 in last 9 years: Report

The number of startups in agriculture and allied sectors has risen to over 7,000 in the last nine years due to a conducive business environment and government support, a report said. Before 2014-15, there were less than 50 startups in agriculture and allied sectors, according to a report titled 'Transformation of India's Agriculture' released by the Federation of All India Farmer Associations (FAIFA) on Wednesday. The Department of Agriculture & Farmers' Welfare (DA&FW) is implementing the 'Innovation and Agri-Entrepreneurship Development' programme under Rashtriya Krishi Vikas Yojana (RKVY) from 2018-19 to promote innovation and agri-entrepreneurship by providing financial support and nurturing an incubation ecosystem. Five Knowledge Partners (KPs) and 24 RKVY- Agribusiness Incubators (R-ABIs) have been appointed by the Department for incubation of startups and implementation of this programme across the country during 2018-19, which is sufficient to cater to current ...

Ola founder's latest bet on 'cloud' and free offer shakes tech industry

The cloud service is available to developers who are presently using Microsoft's Azure, with the condition that they won't return to Azure again

Simpl hands over pink slips to over 100 employees in a bid to cut costs

Simpl says it has laid out a 'comprehensive growth plan' while having a 'razor-sharp focus on profitability'

SoftBank heads $1 billion funding for UK self-driving startup Wayve

The latest funding brings Wayve's total funds raised to just over $1.3 billion and marks the largest investment yet in a British startup focused on artificial-intelligence technology

BlackSoil's FY24 disbursement grows 40%; firm exited 18 deals, entered 36

The company's year-on-year disbursement grew by 110%, and its Assets Under Management (AUM) increased by nearly 50 per cent year-on-year

SaaS startup Plotline raises $2.6 mn in seed round from Elevation Capital

SaaS (software-as-a-service) startup Plotline has raised USD 2.6 million (Rs 20.9 crore) in a seed funding round from venture capital firm Elevation Capital. The company plans to use the capital to expand overseas. Based in San Francisco and Bengaluru, Plotline serves industry majors in the likes of Dream11, Khatabook, BharatPe, CoinDCX, Niyo, Step, and Kredivo. "Strategically deploying its USD 2.6 million seed round to bolster key functions across R&D (research and development), marketing, and sales, Plotline is now looking ahead to drive expansion in the US, the Middle East, Africa, and Asia-Pacific regions," the company said in a statement.

Meat startup Licious eyes IPO in 24 months, 500 stores in 5 years

The meat and seafood startup is looking to achieve Ebitda profitability by March this year

Startups grew over 300 times in ten years: Union Minister Jitendra Singh

From just about 350 startups in 2014, their number in India grew over 300 times in the past ten years after Narendra Modi took over as the Prime Minister, Union Minister Jitendra Singh said on Sunday. He said the country today has the 3rd largest startup ecosystem globally and is home to the fastest-growing unicorns. "For the first time in the history of independent India, Modi as PM made a painstaking and conscious effort to educate the youth of this country that employment is not confined only to a government job and he has promoted new avenues of livelihood which may be more lucrative than a government job," Singh, the Minister of State for Personnel, told PTI here. From just about 350 startups in the year 2014, startups in India grew over 300 times in ten years after Narendra Modi took over as the Prime Minister, he said. Singh further said, PM Modi unleashed India's space research by opening up the hitherto conservative and secluded sector. "India has literally reached for th

Food delivery major Swiggy gets one step closer to $1.25 billion IPO

The company is also looking to raise around Rs 750 crore from anchor investors ahead of its IPO, which is expected later this year

HR tech startup Rippling valued at $13.5 bn after latest funding round

The round was led by tech investment firm Coatue with participation from Peter Thiel's Founders Fund, Greenoaks, and other existing investors

Startup Accacia raises Rs 54 crore from investors to expand business

Startup Accacia, a decarbonisation platform focusing on real estate and infrastructure sectors, on Monday said it has raised USD 6.5 million (around Rs 54 crore) from investors to expand the business. In a statement, the company said it has "closed a USD 6.5 million pre-Series A round led by Illuminate Financial". Southeast Asia-based AC Ventures also participated in this round, alongside continued support from early backers Accel and B Capital. Founded in 2022 by Annu Talreja and co-founders Piyush Chitkara and Jagmohan Garg, Accacia offers an AI-enabled SAAS platform that helps real estate asset managers, owners and developers track their emissions, and design their decarbonisation journey. "We have already deployed our solution to over 25 million square feet of real estate and are poised to leverage this opportunity and scale globally," said Talreja, Founder and CEO at Accacia. Accacia's tech platform integrates with existing property management, energy management and procureme

CSV is the future

What does a business do when it is operating in an intensely competitive environment, and margins are squeezed hard? You create Shared Value.

Elon Musk expected to meet with space startups during India visit

India's national space program has had some recent successes. It became the first country to land a spacecraft near the moon's south pole last year and is planning its first crewed mission in 2025

B2B marketplace ProcMart raises $30 mn in series B funding from Fundamentum

The company is set to enter newer industries beyond MRO consumables such as Biofuel and packaging, expand its distribution network in India and strengthen international operations in Southeast Asia

Start-up founder? Here's how you can save on capital gains tax

If you are a start-up founder in India and have secured an exit for your business, here's how you can reinvest your money to potentially save on capital gains tax.

Emergency arbitrator asks Byju's to not sell around 6% stake in Aakash

Edtech firm Think and Learn, which owns Byju's brand, has been asked by an emergency arbitrator not to sell around 6 per cent stake in its subsidiary Aakash Education Services Limited as it has failed to pay back around Rs 350 crore raised from billionaire doctor Ranjan Pai-led MEMG Family Office. Arbitration proceedings were initiated by the MEMG Family Office in March to protect its rights, as per the undertaking given by Byju's at the time of securing the loan. "The emergency arbitrator has asked Byju's not to transfer or create any rights on around six per cent stake in Aakash as per the undertaking given by the company at the time of raising around Rs 350 crore loan from MEMG Family Office," a legal representative aware of the development on condition of anonymity said. The representative said that the directions were issued on April 4 by an emergency arbitrator, appointed under Singapore International Arbitration Centre rules, in India. An email query sent to Byju's and MEMG