Page 25 - Startups

Why India's education technology start-ups are in the deep freeze

They will continue to tread on thin ice amid a long funding winter unless they fundamentally revise their business models

Nykaa expects BPC biz FY23 revenue growth rates 30%, Q4 performance robust

In its regulatory filing, Nykaa said that in Q4 FY23, against the backdrop of subdued industry growth, Tier 1 consumers have demonstrated sustained consumption

Speciale Invest announces new Rs 200 crore fund for deep tech start-ups

Speciale Invest, a venture capital firm that has funded space and technology startups such as Agnikul Cosmos and QNu Labs, on Wednesday announced a new fund with a Rs 200 crore corpus to provide series A and above funding to initiatives in the deep-tech sector. The Speciale Invest Growth Fund I, with an initial investment of Rs 100 crore, has received approval from market regulator SEBI to provide series A and above funding to high-potential technology startups, supporting India's enterprise and deep-tech startup ecosystem, a company statement said. The fund expects to close the corpus at Rs 200 crore in the next three-four months, it said. "Our new Growth Fund I is an extension of our vision and commitment to expand our investment strategy to support high-performing technology startups from our portfolio at the Series A and beyond stages," Arjun Rao, General Partner at Speciale Invest said in a statement. Founded in 2017 by Vishesh Rajaram and Arjun Rao, Speciale Invest had a ...

Amid constant fear of layoffs, employees at startups looking for a way out

People working at these firms have witnessed their colleagues being shown the door. Many have left on their own or are looking for options

The founder, the spouse, and their start-up

Investors in start-ups are waking up to the risk posed by marital discord

A year of reality checks for start-up valuations amid fall in funding

With a dramatic fall in venture capital and private equity funding, Indian start-ups are pulling up their socks, cutting losses, and trying to turn profitable

PhonePe calls off deal to acquire BNPL platform ZestMoney: Report

The main reasons the deal fell out were lapses in due diligence, disagreement over valuation, sustainability of the business and the platform's shareholding structure

GoMechanic Business acquired by a consortium led by Lifelong Group

According to sources, there is no clarity on what happens to the founders

Google 'repeatedly disobeying' CCI's orders on billing: Startup think tank

Accuses tech giant of charging an "exorbitant" commission without providing additional service, while India's entire payment industry is working on 1-5% service fees

Apparel supply chain start-up Fashinza raises $30 mn in business funding

B2B platform connects small and medium enterprises directly to fashion brands across the world

HR tech start-up InCruiter partners with Taggd to speed up hiring

Company's product helps in conducting interviews and selecting talent for IT and non-IT roles

Nearly half of startups in Uttar Pradesh are headed by women: Govt

Akshay Tripathi, special secretary, IT and Electronics, said that out of 8,714 registered startups in the state, 4305 are run by women entrepreneurs

Venture capitalists ask startups to keep money with new SVB amid crisis

High-profile investors have voiced their support for Silicon Valley Bank. In an interview with Bloomberg Television, investor Vinod Khosla said he was encouraging companies to keep funds with the bank

How Indian tech cos banded together to help each other during SVB crisis

The SVB collapse has alerted hundreds of Indian investment and tech companies. They came together to help each other and share knowledge to deal with the impact

Agritech startup Sorted raises over $5 mn as seed funding to grow business

Agri startup Sorted, a tech platform founded by ex-CEO of Milkbasket Anant Goel for quality fruits and vegetables, has raised more than USD 5 million as seed funding to grow business. According to a statement, the serial entrepreneur has started Sorted, powered by proprietary technology and a franchisee network of digitised mom & pop stores. "Co-founded by Nitin Gupta and Sahil Madan, the tech-driven F&V (fruits & vegetables) platform has so far raised in excess of USD 5 million in their ongoing seed round," the company said. Sorted will enable access of straight-from-the-farmers, quality fruits & vegetables, at a highly competitive price, to customers through the medium of their choice call, message, online or offline. "Sorted is not attempting to change the way India buys F&V, it's plugging the inefficiencies that plague the existing supply chains. We have undertaken multiple POCs over the last 9 months to solve for the known industry issues, especially wastage,

IIM-A incubation platform to invest in 50 new start-ups over a year

CIIE.CO says it has a record of helping 1,200 start-ups and investing in 350 of them

Fundraising woes remain for fintechs in the face of a revival of big bets

Investments among fintech start-ups in India saw a decline of 47 per cent year-on-year (YoY) in 2022 at $5.65 billion, compared with $10.7 billion the previous year, according to data from Tracxn

Karnataka minister rolls out 3 strategic initiatives to promote start-ups

Karnataka Higher Education and IT/BT Minister Dr CN Ashwath Narayan on Saturday rolled out three strategic initiatives aimed at promoting start-ups and innovation ecosystem in Beyond Bengaluru clusters.The three programmes launched were Mysuru Cluster Seed Fund (MCSF), Mysuru Global Technology Centre (MGTC) and Karnataka Accelerator Network (KAN).It may be noted here that Chief Minister Basavaraj Bommai while presenting the budget 2023-24 had announced these programmes to boost the IT & startup ecosystem in the state. Put together, it is estimated that MCSF and KAN will generate around Rs 200 crore and these programmes will be implemented through Karnataka Digital Economy Mission (KDEM)Mysuru Cluster with a Seed Fund of Rs 25 crores will be funding 70-80 startups which are expected to create over 1000 employment opportunities."Mysuru Global Technology Centre which will be set up in a space of 2 lakh sqft with 3000 seater capacity facilitates high-quality plug-and-play office ...

SVB collapse exposes rifts in typically chummy venture capital world

There's no clear consensus on whether to celebrate or blame VCs who told founders to pull out their money

SBI's start-up branches showing good inflow of deposits: Chairman Khara

These branches essentially offer banking services such as channelising the flow of money and maintaining bank accounts, along with forex conversion, and custodial services