Page 15 - Start-ups

ArcelorMittal looks to rope in Indian climate tech start-ups to go green

Launches first country-specific accelerator programme to achieve decarbonisation goal

Govt-appointed panel likely to talk need for 'stricter' start-up rules

A government-appointed panel is likely to discuss whether there is a need for a stricter regulatory regime for startups against the backdrop of instances of corporate governance concerns at some of the entities, according to an official. Startups are generally small and there needs to be a balancing when it comes to regulations for them, the official said and added that ease of doing business as well as a compliance-oriented regulatory regime should be ensured. The Company Law Committee (CLC), which was set up by the corporate affairs ministry back in September 2019, is likely to look into various aspects of the regulatory regime for startups, the official told PTI recently. The standing panel, which is headed by the corporate affairs secretary, has government officials, representatives from the industry and experts, among others as members. It broadly looks at the effective implementation of the Companies Act, 2013 and the Limited Liability Partnership (LLP) Act, 2008 as well as ..

India's Coromandel counts on drone startup to tackle farm labour shortage

In June Coromandel bought a majority stake in Dhaksha at a valuation of 6.25 billion rupees ($75.96 million), saying the startup will "identify promising avenues of growth" for the company

IoT start-up Proxgy launches real-time payment audio notifications device

The company plans to deploy its devices in the B2B (business to business) or B2B2C (business to business to consumer) space

Edtech major Byju's, lenders agree to amend terms for $1.2 billion loan

Houlihan Lokey serves as financial advisor to the term loan lender group and Kirkland & Ellis LLP, Cahill Gordon & Reindel LLP, and Shearman & Sterling LLP are serving as legal advisors

Swiggy set to buy back Esops worth $50 million from its 2,000 employees

The Esop liquidation exercise was part of Swiggy's announcement in 2021, where the company had said that its employees would be rewarded for their performance in 2022 and 2023

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

Tax officials visit offices of edtech startup upGrad for routine survey

Indian tax officials have visited offices of ed-tech startup upGrad for a routine survey, the company said on Wednesday

Startup India celebration of innovation, entrepreneurship: boAt co-founder

India presents a compelling case for those looking to manufacture, boAt's co-founder Aman Gupta said, highlighting that initiatives like Startup India and celebration of innovation has changed the mood of the nation towards entrepreneurship. The outspoken entrepreneur said at the recent Indo-French CEO Forum that he had spoken about boAt's own story being a testimony of how real the India startup opportunity is. The entrepreneur and investor whose stint with Shark Tank India made him a household name, was among the invitees at an official delegation during Prime Minister Narendra Modi's recent visit to Paris. In an exclusive interview to PTI, Gupta recounted how startups were not recognised by the public as much earlier. According to him, the government's focus on entrepreneurship, and enabling initiatives like Startup India, Stand-Up India have changed the mood of the nation. "I spoke about our own story (at the Indo-French CEO Forum) and how we were importing 100 per cent when we

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

With 70% drop in funding, startups in India begin reducing burn rate

Number of profitable unicorns is projected to grow across most sectors in 3-4 years, from 30 in FY22 to 55 in FY27.

Fisker to sell 100 limited edition electric SUVs in Indian market by Q4

The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local production beginning in a few years

Start-up to SHE enterprise

Over more than 100 years, we have experienced the social-economy benefits brought by the early 20th-century founders of sustained, humane, and enlightened enterprises. India needs more of them now

Space startups welcome GST exemption for satellite launch services

The Indian private sector on Wednesday welcomed the government's decision to exempt satellite launch services by private organisations from GST, saying the move will help them offer competitive rates to put satellites in orbit. The GST Council, at a meeting on Tuesday, decided that GST exemption on satellite launch services supplied by ISRO, Antrix Corporation Limited and New Space India Limited (NSIL) may be extended to such services supplied by organisations in the private sector also to encourage start-ups. The Indian Space Association-EY report had said that the space launch segment was expected to grow rapidly by 2025 at the rate of 13 percent per annum. "This step will give financial relief to the players and will incentivise growth of this nascent sector. We believe it will help enable the growth of indigenous launch capabilities and ensure a level playing field for all," Lt Gen A K Bhatt (retd.) Director General, Indian Space Association (ISpA) said. He said the satellite

Industry welcomes GST exemption for startups into satellite launch services

ISpA says step will give financial relief to the players, incentivise segment's growth and help spawn indigenous launch capabilities, creating a level playing field for all

CapFort Ventures launches Rs 200 cr fund, will back 40 tech start-ups

VC firm says it expects institutional investors, family offices, ultra high net worth individuals to support fund

InfoEdge subsidiary invests Rs 1 cr in healthtech startup BrainSightAI

RedStart Labs (India) has invested close to Rs 1 crore in Bengaluru-based health technology startup BrainSightAI, according to a BSE filing on Monday. RedStart Labs is a wholly-owned subsidiary of technology company InfoEdge. RedStart holds 4 per cent stake in BrainSightAI on a fully converted and diluted basis. However, aggregate shareholding of the company after the current investment cannot be estimated, the filing further stated. "RedStart has agreed to invest an aggregate amount of Rs 98,94,000 by way of subscribing to convertible notes. Since the note would be converted into shares in the next round basis the valuation at that time, aggregate shareholding of the company through RedStart, post this investment cannot be estimated at the time of making the intimation," the filing said. InfoEdge is the parent company of online classifieds such as Naukri.com, matrimony site Jeevansathi.com and 99acres.com, a property marketplace. Incorporated in 2019, BrainSightAI provides ...

Investment in Indian startups in H1 2023 lowest in last 4 years: PwC India

Funding in Indian startups fell by 36 per cent in January-June to USD 3.8 billion, the lowest half-yearly number in the last four years, as investors are taking longer time in due diligence of every aspect of business, according to a PwC India Report. Early-stage deals accounted for 57 per cent of the total funding in the first half of 2023 (H1 CY23) in volume terms, said the report titled, Startup Perspectives - H1 CY23. In value terms, early-stage deals contributed to approximately 16 per cent of the total funding in H1 CY23 but was at its lowest in H1 CY23 as compared to the previous two years. "The Indian startup ecosystem reported the lowest six-month funding in the last four years in H1CY23 at USD 3.8 billion across 298 deals - a decline of nearly 36 per cent as compared to H2 CY22 (USD 5.9 billion). Fintech, SAAS and D2C continued to be the most funded sectors in H1 CY23," it said. During the last few quarters, despite challenging funding market conditions, investors have sh

India's space start-ups exploring niche markets, global collaborations

From aiming to re-fuel satellites in orbit to monitoring the Earth's health, Indian start-ups in the space sector are exploring niche markets with the hope of striking it big as opportunities for global commercial collaborations open up. India becoming a signatory to the Artemis Accords and the focus on the space sector, particularly on addressing issues related to export control and technology transfer, during Prime Minister Narendra Modi's recent visit to the US will open up doors for private players, industry leaders believe. Since India opened up its space sector in 2020, more than 150 start-ups have come up in areas such as building rockets and satellites, setting up astronaut training facilities and exploring possibilities for space tourism. "It is a good start, because it was unheard of for the US to supply any space or defence-related technology 10-15 years ago. It was a taboo. Now, we are talking of working together in sunrise sectors," Manastu Space co-founder Tushar Jadha

100,000 unicorns, 1-2 mn startups doable: Chandrasekhar on tech opportunity

India's success with innovation, entrepreneurship, electronics manufacturing as well as its digital clout is just the "tip" of a massive growth opportunity before the country, and the nation has the ability to scale to one lakh unicorns and almost 10-20 lakh startups in future, according to Union Minister Rajeev Chandrasekhar. Chandrasekhar -- who completes two years as Minister of State for Electronics and IT -- said the India Stack and the digital public infrastructure built by the country, have demonstrated to the world how technology can be deployed for good, to benefit people, society and communities, and the country at large. The extent of digitalisation of government, governance and economy is going to "accelerate even more", Chandrasekhar promised. The last two years have seen Chandrasekhar keeping a razor-sharp focus on driving India's digital agenda and work on measures to promote electronics and semiconductor manufacturing in the country. He has also been deeply involved