Page 26 - Start-ups
Global Innovation Index 2022: India up 6 spots, first time in top 40
This was mainly due to an improvement in information and communication technologies (ICT) services exports, venture capital recipients' value as well as finance for start-ups.
 "Global Innovation Index 2022: India up 6 spots, first time in top 40")
Future of learning: Edtech start-ups' hybrid tilt to lure students
With the offline lure of greater teacher-student connect many such start-ups have forayed into brick-and-mortar centres to compete with existing offline institutions
 "Future of learning: Edtech start-ups' hybrid tilt to lure students")
Edtech major Byju's Rs 1,500-cr payment to Blackstone by September-end
The most-valued edtech start-up made headlines earlier this month after its FY21 numbers received an unqualified report from the company's auditor, Deloitte Haskins & Sells
 "Edtech major Byju's Rs 1,500-cr payment to Blackstone by September-end")
Byju's audited revenue expected to be lower than projected numbers
Byju Raveendran, co-founder and the CEO of the unicorn, has briefed the shareholders and the board members about the difference
 "Byju's audited revenue expected to be lower than projected numbers")
IT Ministry, Meta to fund 40 start-ups working in extended reality tech
The programme will give Rs 20 lakh each to the start-ups and it will include a challenge aimed at promoting XR
 "IT Ministry, Meta to fund 40 start-ups working in extended reality tech")
How a startup in Pakistan folded just a year after raising $85 million
Airlift started by operating vans and small buses used by office workers and students. When that business slowed during the pandemic, the company pivoted to quick commerce
 "How a startup in Pakistan folded just a year after raising $85 million")
After lay-offs, edtech startup Lido Learning files for insolvency
Lido Learning's board of directors has passed a special resolution to file an application under section 10 of IBC, 2016
 "After lay-offs, edtech startup Lido Learning files for insolvency")
Construction management start-up Powerplay raises $7.14 mn in funding
The company will use the funds to expand its business in India and abroad. Powerplay said the value of construction managed on its platform from January to June 2022 is worth Rs 7,500 crore
 "Construction management start-up Powerplay raises $7.14 mn in funding")
India edges out China in creating new unicorns in H1CY22: Hurun report
As many as 147 unicorns worldwide saw their valuations drop in the last six months
 "India edges out China in creating new unicorns in H1CY22: Hurun report")
SoftBank, others in talks to lead $75-million funding in GoMechanic
"The conversations between the investors and GoMechanic are still going on and one of the investors has also shared the term sheet with the firm," said a person familiar with the development
 "SoftBank, others in talks to lead $75-million funding in GoMechanic")
SoftBank, others in talks to lead $75-million funding in GoMechanic
"The conversations between the investors and GoMechanic are still going on and one of the investors has also shared the term sheet with the firm," said a person familiar with the development
Fintech platform GroMo raises $11mn in series A led by SIG Venture Capital
Other investors include Y-Combinator, Das Capital, Goodwater Capital, Beyond Next Ventures, Soma Capital, Ace & Company, Hauz Khas Ventures and a host of angels
 "Fintech platform GroMo raises $11mn in series A led by SIG Venture Capital")
B2B food processing start-up Suite42 raises $4.3 mn in seed funding
Suite42 says its technology helps clients to make fair price discovery, reduce processing cost
 "B2B food processing start-up Suite42 raises $4.3 mn in seed funding")
Actor Ranveer Singh joins Indian startup story, invests in SUGAR Cosmetics
Some of the investors backing SUGAR include L Catterton, A91 Partners, Elevation Capital and India Quotient
 "Actor Ranveer Singh joins Indian startup story, invests in SUGAR Cosmetics")
Unacademy CMO Karan Shroff quits firm year after being made partner
CEO recently said edtech unicorn may see a funding dry spell for at least 12-18 months and it would cut costs
 "Unacademy CMO Karan Shroff quits firm year after being made partner")
MSH aims to onboard 10,000 start-ups from 3,000 currently in next 3-4 years
MSH has launched schemes with total corpus of Rs 700 crore, intends to bring corporate and national start-up mentorship ecosystems on a single digital platform
BlackSoil crosses $300 mn in venture debt deals, predicts robust market
Company that provides debt capital says its assets under management have grown 55% YoY
 "BlackSoil crosses $300 mn in venture debt deals, predicts robust market")
Startups increasingly raising venture debt as investors fear funding winter
Most investors are more cautious in deploying capital towards growth businesses, especially in late-stage startup investments, which are key drivers in a funding cycle
 "Startups increasingly raising venture debt as investors fear funding winter")
Start-ups binge on private money as markets around the world dry up
European venture capital transactions raised nearly $57 billion, down just 4 per cent from the same period last year, according to the data provided by analytics firm PitchBook
 "Start-ups binge on private money as markets around the world dry up")
Get a masterclass on the art of scale-up from start-up wizards
Tech world's prime-movers set up Artha School of Entrepreneurship.