Page 24 - Start- Ups

MoS IT Chandrasekhar to meet start-ups to assess SVB collapse impact

Minister of State for Electronics and IT Rajeev Chandrasekhar will meet representatives of start-ups this week to assess the impact of their exposure to Silicon Valley Bank which was deeply entrenched in the tech startup ecosystem. According to various industry players and experts, most Indian software-as-a-services startups with a presence in the US and firms linked to incubator Y Combinator are among entities that will feel the heat of the Silicon Valley Bank collapse but the impact is likely to be short-term. "The SVB_Financial closure is certainly disrupting startups across the world. Startups are an imp part of NewIndia Economy. I will meet wth Indian Startups this week to understand impact on thm n how @narendramodi govt can help durng this crisis," Chandrasekhar tweeted on Sunday. SVB was deeply entrenched in the tech startup ecosystem and the default bank for many high-flying startups; its abrupt fall marked one of the largest bank failures since the 2008 global financial ..

Goyal to chair meeting of national startup advisory council on Saturday

Goyal to chair meeting of national startup advisory council on Saturday

Women-led startups raise $4.3 bn in 2022, outperform those led by men

The number of active investors funding women-led startups has also risen steadily since 2010, with a sharp YoY jump of 42% in 2021

Homegrown startup Yes Madam exposes customers' sensitive data: Report

Homegrown startup Yes Madam has exposed the sensitive data of its customers and gig workers due to a server-side misconfiguration, the media reported

Startup founders find it difficult to raise funds, investors step back

Only four startups in India's fintech sector received unicorn status in 2022, far lower compared to 13 new Unicorns in 2021

Arvind Mafatlal Group plans to scale up its edtech venture GetSetLearn

The Group is looking to build the world's largest hybrid curated marketplace for learning services, says Priyavrata Mafatlal, Vice Chairman, Arvind Mafatlal Group

Swiggy sells Cloud Kitchen biz to Kitchens@ as delivery growth slows down

The online food aggregator will become a stakeholder in Kitchens@ through the all-equity transaction of Swiggy's Access

PM Modi announces establishment of a 'Startup Bridge' between India, Italy

Prime Minister Modi made the remarks at the press meeting with Italian Prime Minister Giorgia Meloni here at Hyderabad House

Sequoia India and Southeast Asia's Surge to empower 12 new startups

Surge combines up to $3 million of seed capital with company-building workshops, a global curriculum and support from a community of exceptional mentors and founders

Sequoia's Surge unveils 8th cohort of 12 start-ups across India, SEA

Includes start-ups in climate tech, AI, metaverse, digital health, new e-commerce models

Centre invites Big Tech, start-ups to discuss digital competition law

Big Tech companies have been asked to come separately on March 11 to make suggestions on the digital competition law

CynLr launches research hub for vision, intelligence and robotics

The hub is called Cybernetics H.I.V.E. and can accommodate 16 robot research cells

Street Signs: Nifty above 200-DMA, new-age start-up stocks, and more

NSE issued a list of 61 words brokers are barred from using misleading titles to offer client services they aren't permitted to

Startup GoMechanic announces turnaround in core business in January

Automobile after-sales service startup GoMechanic on Friday announced a turnaround in its core business in January. The company, which admitted to errors in financial reporting last month, said it serviced 30,000 vehicles last month, which is 70 per cent of the peak sales it achieved in July 2022. GoMechanic continues to see strong auto servicing volumes in most of its markets, with Delhi-NCR contributing the most, it said in a statement. Other top geographies are also showing good traction, sustaining the business on a month-on-month basis in terms of car servicing volumes, it added. It claimed that over 800 workshops remained active in the network. "The entire founding team remains focused on not just surmounting the formidable challenge before us but in ensuring a sustainable solution and not just a temporary quick fix," a GoMechanic spokesperson said. Besides recalibration on the business strategy front, the company took some painful but unavoidable decisions last month, the

Bike startups had boomed just before the bans rolled out in Mumbai, Delhi

Funding, number of new startups had both risen significantly since the pandemic began

Zomato launches home-style meal service 'Everyday' with home-chefs

Food delivery platform Zomato on Wednesday said it has launched 'Everyday', home-style meal service under which its food partners will collaborate with home-chefs. "Zomato Everyday will bring you closer to home by serving you meals that make you feel at home," company's Founder Deepinder Goyal said in a blog-post. "Our food partners collaborate with the home-chefs, who design each recipe with love and care to serve you home-styled, wholesome food at the best prices within minutes," he added. Goyal informed that Zomato Everyday is currently available in select areas of Gurugram only. "With fresh meals starting at only Rs 89, our customers can eat healthier and better daily," Goyal said.

Edtech startup NxtWave raises $33 mn, Greater Pacific Capital leads round

Nandan Desai, MD and Co-Head of India for GPC, to join NxtWave Board as part of deal; Existing investor Orios Venture Partners also invests in round

Fresher recruitment start-up GetWork raises Rs 7 cr in pre-series A funding

In March 2021, the platform had raised a seed round of Rs 2 crore led by Artha Venture Fund

Bengaluru aerospace ecosystem gives wings to startups to fly high

The medical team at Seppa in Arunachal Pradesh had been confronting the challenge of supplying medicines and vaccines in difficult terrains of the mountainous region but not anymore. Startup company Redwing Aerospace Labs in Bengaluru has developed an indigenously developed medical drone called 'Crane' which has been deployed in the frontier state in the northeast. The drone manufacturer is among many aerospace companies thriving in Bengaluru owing to the 'aerospace ecosystem' prevailing in the city. The ongoing Aero India-2023, which is the 14th edition of the biennial event in Bengaluru, gives a glimpse of the flourishing aerospace industry here as a significant number of stalls are occupied by city-based firms. Many aerospace firms here are not only supplying products and services to "biggies" such as Hindustan Aeronautics Limited, Indian Space Research Organisation, Defence Research and Development Organisation and Bharat Electronics Limited but also to several multinational ..

Karnataka startups, MSMEs make mark in Aero India with futuristic products

Some of them like NopoNano Technologies, are into producing single-walled carbon nanotubes with wide-ranging applications in aerospace are being manufactured in Bengaluru