Page 18 - Startups

AIF commitments cross Rs 9.5 trillion till September 2023, shows data

The investment commitments are usually received in tranches from investors by the fund managers and are reflected in the total funds raised

DPDP rules to be out by January-end, says MoS IT Rajeev Chandrasekhar

They will help curb deepfakes posted on social media platforms

Staqu Tech to provide AI-led surveillance for Ram temple inauguration

The Ram Temple inauguration ceremony, which is scheduled to take place on 22 January, is expected to host VIP attendees from across the world

Income tax benefits granted to 2,975 recognised startups: DPIIT

As many as 2,975 government recognised startups have been granted income tax exemptions so far, a senior official said on Monday. Under the Startup India , the government provides income tax exemption. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that as on December 31 last year, 1,17,254 startups have been recognised by the department. "The number of startups getting income tax benefits was 1,100 till March 2023 and now it has increased to 2,975 startups," he told reporters here. He added that they are in the process of formulating a standard operating procedure for examining and fast-tracking applications for granting eligibility certificates. This certificate is required to claim tax exemptions. The Startup India Action Plan was announced in 2016.

NYSE-listed SentinelOne acquires Bangalore-based startup PingSafe

PingSafe provides Cloud security services; deal estimated to be worth $100mn

Rural startups seek better supply chain, infra, easier access to funds

Rural startups are making a strong pitch for new programmes to foster research and innovation, as the grassroots-level entrepreneurs seek support for streamlined supply chains, subsidies, improved infrastructure, and easy access to finance. As the Budget and the Lok Sabha elections draw closer, startups working in various sectors, especially in smaller towns and villages, said they expect the government to look at various teething issues, even as their "overall performance has improved owing to various policy changes in the past couple of years". "India's food processing industry faces a number of difficulties such as outdated equipment, ineffective supply chains, poor infrastructure, and restricted finance availability. We expect the government to help us connect with global supply chains so that we can export our products to international markets," Pardeep Kumar Yadav, Founder of Krini Spices, told PTI. Krini Spices, which was founded in March 2017, has 22 direct and over 100 ...

Majority of Indian startups eyeing IPOs in 2024 struggle with losses

Of the 12 startups looking to launch IPOs this year, eight have incurred a cumulative loss of Rs 8,000 crore, including Swiggy, and Ola Electric

2023 sees 15% more start-up/ tech layoffs than 2022, majority in edtech

On average, at least 45 people lost their jobs daily based on data collated by the website. This is 15.3 per cent higher than the 14,224 layoffs recorded in the previous year

5 startups receive Rs 6.5 cr equity investment from Tamil Nadu govt

Five startups engaged in various sectors, including electronics manufacturing and healthcare, have received funding of Rs 6.5 crore from the Tamil Nadu government. The sanction of equity investments in the companies was issued under the Tamil Nadu SC/ST Startup Fund by Chief Minister M K Stalin at an event here organised by StartupTN, a press release said on Thursday. Accordingly, Ecopmin Technologies, which is engaged in electronics manufacturing, received Rs 3 crore while Adhiban Farms Pvt Ltd, which deals with agriculture technology, secured funding of Rs 2.2 crore. Healthcare player COEO Wellness Pvt Ltd was granted Rs 60 lakh while Mannvasanai Traditional Food Pvt Ltd attracted an investment of Rs 45 lakh. Nanjil Nadu Kani Tribal Women Creations Pvt Ltd, which is an active player in the food and agriculture industry, received a Rs 25 lakh grant. The investments allow the companies to take up expansion work besides meet their capital requirements, the release added. Early thi

Startups hope for strong growth in 2024 after unicorns, funds fall in 2023

Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around USD 8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent. Indian startups are estimated to have laid off over 15,000 employees in 2023. Startups with sustainable business models as well as the well-capitalised ones are expected to weather the current turmoil. And the horizon in 2024 is expected to be "exciting" as well as "challenging". Venture capital firm Lightspeed, which has invested in firms like BYJU'S, Magicpin and OYO, said a high cycle or a low cycle of two years does not really impact the ..

Sonic Lamb Headphones review: Sensational sound in a no-frill package

Sonic Lamb Headphones deliver a distinctive audio experience. Potential consumers should contemplate these if their priority lies with audio quality over other attributes in their choice of headphones

Zerodha's Nithin Kamath joins Centre's reconstituted startup advisory panel

Kamath said that he was excited to join the council and that India needs to unlock its domestic capital to nurture startups

Think and Learn presents edtech Byju's 3.0 proposal to investors at AGM

Byju's says FY22 earnings were approved at the AGM as well as the reappointment of BDO as the statutory auditors of the company.

Lifting startups from the governance hole

Founders must prioritise governance from the outset rather than deferring it until just before the IPO if they want to create long-term value

Venture capital funds backing fewer women startups than men-led ones: Irani

Union Minister Smriti Irani on Friday hit out at venture capital funds for not backing women-led innovative startups, and instead taking bets on entities founded by men. The Union Minister for Women and Child Development said there are many women innovators in science and technology, but rued that their strides are not getting translated into commercial ventures. "Even today, risk taking by VCs for women-led initiatives which are based on innovation is far lower as compared to those by men," Irani said, addressing an event organised by MentorMyBoard. One has to check how many women do not become a part of the corporate boardrooms despite being innovative, she said. Irani acknowledged that her recent statement in Parliament opposing period leaves for women has caused an "uproar", but stuck to her stance saying allowing so will have deep concerns on privacy. "Can you imagine a scenario where the HR head of your company knows your menstrual cycle every month. Can you imagine the scen

Alternative debt provider BlackSoil sees 44% jump in investment in 2023

Bansal also said that the risk is getting blurred between equity and debt as entrepreneurs are unable to raise funds via equity

Cloud-lending startup Lentra launches 3 AI products for financial sector

The company launched AI products, namely Lentra Convo, Lentra Insights, and Lentra Wingman, to serve lenders with solutions that enhance the lending processes

Google supports women-led AI startups in tech innovation, sustainability

Google for Startups Accelerator programme is designed to enable women entrepreneurs who are using technology to solve complex problems and are making a positive impact on society

How Varun and Ghazal Alagh's Mamaearth became profitable D2C empire

Celebrating seven years of success, the company eyes future growth with a diversified portfolio and strong offline presence

India to create AI computing capacity for start-ups, researchers: Minister

Capacity will be created by the public sector and separately in collaboration with private companies, says Rajeev Chandrasekhar