Page 11 - Startup

We have $2.5 billion of uninvested dry powder: Peak XV Partners MD

It is a rebrand - Sequoia India and Southeast Asia is now Peak XV Partners. We are very bullish on India and Southeast Asia as a market and we are going to only double down

Byju's schedules call for lenders to discuss loan amendment proposal

Byju's didn't pay $40 million in interest due Monday on its $1.2 billion loan

Cloud-lending startup Lentra raises $27 million in extended Series B round

Tokyo-based Mitsubishi UFJ Financial Group (MUFG) and investment firm Dharana Capital led the funding

BlackRock cuts Byju's valuation again. This time by 62% to $8.4 billion

However, Byju's recently secured $250 million in fresh funding at a valuation cap of $22 billion

G20 members working to arrive at common framework to define startups

G20 member countries, including India and the US, are holding consultations to arrive at a common framework to define startups with a view to promoting the growth of new ventures, a senior official said. This issue among others would come up for discussion during the Startup20 Engagement Group's third meeting on June 3-4 in Goa. Briefing media about these meetings under India's G20 presidency, Startup20 India Chair and Mission Director Atal Innovation Mission, Niti Aayog, Chintan Vaishnav said that it may not be feasible to have a common definition of startups. "The meeting in Goa on June 3-4 will try to come up with a definition framework that is applicable across the countries of G-20, he told reporters here. The focus of the Goa meeting will be to build consensus on the Draft Policy Communique, which the Startup20 recently published recently seeking public views. After the Goa meeting, the group will finalise the communique and take it to the Gurugram meeting scheduled on July

BigBasket co-founder Abhinay Choudhari's LaundryMate raises $6.25 mn

Blume Founders Fund and several HNIs, including Ola co-founder Ankit Bhati, participated in the pre-Series A round

Woman-led edtech unicorn Guild lays off 172 employees for 'reorganisation'

he company had "identified the go-forward structure, roles, and skill sets needed to enable our strategy and create a more focused, seamless way of doing work at Guild," CEO told the staff

Homegrown edtech startup Teachmint lays off over 70 employees: Report

Led by edtech startups, over 25,000 employees have been laid off by nearly 100 startups in India including BYJU'S, Unacademy and Vedantu

ZestIoT raises $6.5 million in funding round led by IvyCap Ventures

Tech startup ZestIoT on Wednesday said it secured USD 6.5 million, about Rs 51 crore, in a funding round led by IvyCap Ventures. The round also saw participation from global venture fund Loyal VC. "The proceeds will be directed towards revolutionizing the aviation industry, enabling faster turnaround of aircraft and enhancing passenger experience," ZestIoT said in a statement. Founded in 2016 by Amit Sukhija, ZestIoT provides GroundRadar platform which brings together airlines, airports, and handlers to collaborate and increase the speed of aircraft turnaround while maintaining operational efficiency and safety. With the latest investment, ZestIoT will double down on deep tech AI-driven automation, expand its talent pool, expand internationally, and prioritise customer success. "This new investment will accelerate our mission to empower the aviation ecosystem with last-mile digitization and automation, delivering multiple use cases to airports, airlines, and handlers based on thei

Firefox developer Mozilla acquires fake review detection startup 'Fakespot'

Mozilla, the developer of the Firefox Internet browser, has acquired Fakespot -- a startup that helps users identify fake or unreliable reviews via a website and a browser extension

DPIIT undertaking third-party assessment of Startup India seed fund scheme

The Department for Promotion of Industry and Internal Trade (DPIIT) is undertaking a third-party assessment of Startup India Seed Fund Scheme to see its impact on the ground, a senior government official said on Tuesday. The Rs 945-crore scheme was launched in April 2021. It aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialisation. The fund was divided into four years for providing seed funding to eligible startups through eligible incubators across India. Joint Secretary in DPIIT Manmeet Nanda said that the scheme has benefited the startup community. "A third-party impact assessment of the startup India seed fund scheme is underway. It is being done by NIFM. They will do an independent review of how the scheme is actually benefited. They will evaluate the performance of the startups, incubators and see how this funding... led to greater opportunities and will also give us feedback on how we can

This startup is disrupting the QSR model with AI- & IoT-driven kitchen tech

Set up in a college hostel back in 2014, Mukunda Foods has sold its products to about 6,000 restaurants that make Chinese, South Indian, Mughlai and other genres

25 startups keen on signing MoUs with Centres of Excellence: TN govt

As many as 25 startups have evinced interest to sign memorandums of understandings with the Centres of Excellence that were inaugurated by Chief Minister M K Stalin, the Tamil Nadu government said on Sunday. The startups under the state government's 'Olir' (shine) initiative would be able to grow faster by utilising the state-of-the-art multi-sector Industry 4.0 Centres of Excellence at 'optimal costs' which has been established by the Tamil Nadu Industrial Development Corporation (TIDCO) and Tamil Nadu Startup and Innovation Mission (StartupTN). Stalin had inaugurated the three Centres of Excellence -- Tamil Nadu Smart and Advanced Manufacturing Centre (TANSAM), Tamil Nadu Centre of Excellence for Advanced Manufacturing (TANCAM) and Tamil Nadu Advance Manufacturing Centre of Excellence (TAMCOE) -- in 2022. These specialised institutions offer startups with the know-how to accelerate their design, prototyping and development testing. At an event held recently, nearly 250 chief ...

Indian startup PredOmix develops AI-based blood test to detect 32 cancers

The company's OncoVeryx-F is a patented technology that combines metabolomics (study of small molecules) and AI to identify metabolite signatures of multiple cancers in a single test

Curefoods raises Rs 300 cr in round led by Binny Bansal's investment fund

Cloud kitchen company says it will use financing to expand reach and diversify in offline market

TVS Motor Company's Singapore arm to buy 25% stake in Killwatt GmbH

TVS Motor Company on Tuesday said its Singapore-based arm will acquire a 25 per cent stake in Germany-based electric mobility products and components startup Killwatt GmbH. TVS Motor (Singapore) Pte Ltd, has agreed to acquire a 25 per cent stake in Killwatt GmbH by way of newly issued shares of the latter, amounting to 8,500 common equity shares, the company said in a regulatory filing. The shares are acquired at cash consideration of 235.29 euros per share, translating to a total of nearly 2 million euros (nearly Rs 18 crore). Killwatt's business comprises development, design, manufacture, sale and distribution of high-tech products and components in the field of electric two-wheeler and three-wheeler vehicles, it added. "Killwatt presents great potential which has been conceptualised by the company. This acquisition is aligned with our larger vision of becoming a leading player in the e-personal mobility space and providing our customers with sustainable mobility solutions, and i

Edtech major Byju's to raise $700 million in fresh funding round this month

The latest funding round comes as Byju's is aiming to repay a huge $1.2-billion term loan it had secured in November 2021

Indian startups with 'strong fundamentals' will survive: Vinod Khosla

Khosla and ChatGPT developer OpenAI's CEO Sam Altman recently offered personal capital to help startups after SVB's collapse

India's start-up story remains robust

The ecosystem would experience rationalisation of valuations in the current period, with funding expected to gradually increase from Q3 2023-24

Four in every five early-stage start-ups in India want to hire more in 2023

15.79 per cent of these start-ups want to keep their headcount unchanged: FICCI - Randstad Start-up Hiring Trends Survey