Page 9 - Startup

Ride-hailing firm Yaary launches on ONDC for Hyderabad auto, taxi drivers

"Yaary facilitates peer-to-peer transactions between customers and service providers with 0% commission, charging only a nominal SaaS fee to service providers," the ONDC-backed firm said

Agritech company Vegrow raises $46 mn in funding round led by GIC

Start-up will use the money to expand in India and strengthen global network

Elon Musk's xAI startup seeks to raise $1 billion from equity investors

Musk has already raised nearly $135 million, according to a document filed Tuesday with the Securities and Exchange Commission, which doesn't include the names of investors

CashKaro expects profitability in 2 yrs, user base to grow 100 mn in 3 yrs

Ratan Tata-backed startup Cashkaro expects profitability in the next two years and to grow its user base by four-fold to 100 million in the next three years, a senior company official said on Friday. While speaking to PTI on the sidelines of the Digital Acceleration and Transformation Expo (DATE), CashKaro and EarnKaro co-founder Swati Bhargava said the company has enough revenue to report profitability anytime now, but it is ploughing back money into marketing campaigns to grow its user base. When asked about the timeline that CashKaro expects to report profitability, Bhargava said, "We are looking at two years because, after two years, we see we can do away with some of our marketing campaigns". CashKaro has thus far raised over Rs 255 crore from prominent investors like Kalaari Capital, Ratan Tata, Korea Investment Partners and Affle Global Pte Ltd. Bhargava said that at present the company sees no immediate requirement for further fundraising till the time it becomes ...

Travel credit card startup Scapia raises $23 mn to expand business

Company has zero joining and annual fees, provides 10% reward on every card transaction

Byju's lenders win fight over $1.2 billion loan default, control of unit

Lenders have been pushing hard for the repayment of the $1.2 billion loan amid the company's mounting distress after a pandemic-era boom in online learning fizzled out

E-commerce startup Udaan to trim costs, forge partnerships ahead of IPO

Udaan, which competes with Reliance Industries Ltd. and Walmart Inc.'s Flipkart in helping smaller merchants source their goods, will make an operating profit within 18 months

The Dunzo story: When quick commerce proved to be a tough nut to crack

Dunzo's rush into quick commerce and search for funds have yet to deliver the goods, leaving it in a fragile state

Dunzo seeks to raise $35 mn in rights issue at a $200 mn valuation

The ailing startup has heavily cut the scale of its quick-commerce operations to save cash over the past year

Ex-Googler's struggling search startup becomes antitrust cautionary tale

Taking the stand Monday in federal court in Washington, Neeva co-founder Sridhar Ramaswamy recalled how the company thought it could deliver a better search experience by charging consumers

Third Wave Coffee raises $35 mn in series C funding round led by Creaegis

Third Wave Coffee is present in several major Indian cities, including Bangalore, Mumbai, Delhi, Gurgaon, Pune, Hyderabad, Noida, Coonoor, and Chandigarh

Zepto most preferred startup for professionals in India: LinkedIn ranking

E-commerce platform Zepto, which has turned unicorn recently, has emerged as the top startup in India in terms of professionals' preferred workplace, according to a list by a top recruiting platform. Startups that followed the e-grocery app in the ranking include EV cab aggregator BluSmart, fintech company Ditto Insurance, audio OTT platform Pocket FM and Skyroot Aerospace, respectively. LinkedIn on Wednesday released its 'Top 25 Indian Startups List', an annual ranking of emerging companies where professionals want to work, based on the hiring platform's data of almost 1 crore members. Zepto climbed three spots from number 4 last year as the top startup in terms of employee growth, jobseeker interest, member engagement within the company and its employees, and the startups pulling talent from LinkedIn's Top Companies list. "It's truly remarkable that 14 of the 20 startups featured on this year's list are new entrants, underscoring the immense potential and astonishing pace of ...

Beauty startup Pilgrim raises $20 million in Series B funding round

Pilgrim, a startup operating in the field of beauty and personal care, on Tuesday said it has raised USD 20 million (around Rs 166.6 crore) in a funding round. This Series B round was led by Vertex Ventures Southeast Asia and India along with existing investors Fireside Ventures & Narotam Sekhsaria Family Office, a joint statement said. The company currently has an annual run rate of Rs 300 crore and aims to scale it to Rs 1,000 crore by 2025 on the back of its commitment to robust R&D and consumer-centricity. Pilgrim, which is serving over five lakh consumers monthly, will deploy this funding to increase brand building, and R&D, and bolster offline expansion within India, it added. "Pilgrim has been steadfast in crafting efficacious solutions tailored to individual consumer needs and co-creating products alongside our customers. This approach has empowered us to introduce groundbreaking innovations, reshaping the landscape of India's beauty and personal care market," its .

SKUAST launches agricultural-entrepreneurship startup training programme

The Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST) on Monday launched a skill training programme for creating the next generation of agri-entrepreneurs in Jammu and Kashmir. The Ministry of Micro, Small and Medium Enterprises (MSME) has granted 550 skill training programmes to SKUAST for implementation in the current year, officials said. "We have to take our farming community from subsistence agriculture to sustainable commercial agriculture. We have to strive to achieve the goal set by the JK government to double the agricultural GDP in the next five years," Vice chancellor of the SKAUST Nazir Ahmad Ganaie told reporters. Last year the university implemented 66 skilling programmes. He said it is important that the country shifts toward startup culture as India is emerging as a big startup ecosystem in the world. "The universities have a very important role to play in bringing Jammu and Kashmir on the startup ecosystem map of the country," he added. S

China's artificial intelligence 'war of hundred models' heads for shakeout

China now has at least 130 large language models (LLMs), accounting for 40 per cent of the global total

Visa application startup Atlys raises $12 million in series A funding

Investment round led by Peak XV and Elevation Capital

Competition Commission of India appoints three new members: Reports

The new members appointed are Anil Agrawal, a former police official who recently worked at India's commerce ministry and worked on various startup initiatives

Qube Health raises Rs 25 cr in pre-series-A round at Rs 200 cr valuation

Healthcare payments startup Qube Health has raised Rs 25 crore in a pre-series-A round from its existing investors Inflection Point Ventures and Green Ivy Ventures, and a few family office investors, at a valuation of Rs 200 crore. Qube offers a payment system and healthcare credit line to employees of corporates that sign up. Its offer comes as a complement to the group health insurance policy provided by employers and also helps a person from out-of-pocket medical bills or those not fully covered by the health coverage, to paying non-cashless bill payments. Its customers can borrow and pay from a pre-assigned credit limit within one year with no interest or fees. While the credit line is free for employees, it charges a subscription fee from employers on behalf of the employee. The AI-driven healthtech platform has already aggregated over 11,000 hospitals and clinics, and partners with insuretechs, insurance companies, insurance brokers, e-pharmacy chains and others within the ...

Space technology startups want Centre to share insurance liability

Isro's risk liability on launches have been taken up by the government through a sovereign guarantee

Defence startup's nano drones shows potential in counter-terror operations

A defence startup founded two years ago by a team of young engineers from IIT Roorkee has developed three variants of nano drones, including a 'Kamikaze' UAV, which have application in anti-insurgency and counter-terrorism operations. Mayank Pratap Singh, the co-founder of the startup IDR, said, "This is the first time that nano drones have been developed indigenously in this country." "In just two years since the formation of our startup in 2021, we have developed three variants of nano drones that are actively aiding security forces in their efforts against insurgency and terrorism," Singh told PTI here. He said IDR Research and Development has introduced the Doot Mk1 nano drone in three specialised variants, which were showcased at the North-tech symposium. The symposium was held here recently to address operational challenges and procure state-of-the-art equipment for the Army. Weighing approximately 200 grams, these drones boast an endurance of up to 30 minutes and can reach a