Page 25 - Startups

Indian fintech start-up funding falls 55% YoY in Q1 2023, says report

India was still the second-highest funded "geography" in the world, behind the US, in Q1 2023

Number of startups rose to 90,000 in nine years, says Ashwini Vaishnaw

Union minister Ashwini Vaishnaw on Thursday said that in the last nine years, the number of startups in the country increased to 90,000 due to promotion of the startup culture by the Modi government. He said the central government is trying to make Rajasthan the first IT hub of the country but it is possible when the state government also cooperates on this front, according to a release. The minister was speaking at the inauguration of Software Technology Parks of India (STPI) centre here. To meet the growing needs of IT industry and entrepreneurship in the state, STPI has set up an incubation facility at Sitapura Industrial Area. He said that setting up of the STPI centre in Jaipur would help in making Rajasthan an electronics manufacturing hub. Jaipur MP Ramcharan Bohra, mayor of Jaipur Greater Municipal Corporation Somya Gurjar and others were also present.

Canara Bank forms separate vertical for start-ups; to open 5 branches

The lender is planning to open five start-up-specific branches in the current financial year

DPIIT to raise startups' concerns on 'fair market value' with FinMin

Startups have raised concerns with the industry department that the calculation of the startups' fair market value done internationally is different from the income tax department

Indian startups move court to stop Google's new in-app billing system

The Alliance of Digital India Foundation (ADIF) last month asked India's antitrust regulator to investigate Google for devising a new system startups say still charges them a high service fee

IBA reaching out to start-ups for funding needs, says DPIIT official

Only DPIIT-registered start-ups are eligible for funding under various support schemes of the industry department

The start-up India policy is brainchild of PM Modi: Union Min Sonowal

"This will surely promote innovation and entrepreneurship. Through this policy, MoPSW wants to enable start-ups to grow and prosper through innovations," he added

Lightspeed backs workspace startup 'OfficeBanao' with $6 mn in funding

The firm transforms the entire office development experience using technology with an end-to-end solution across stages of design, procurement, and execution

VCs focusing more on due diligence amid startup funding slowdown: Report

According to data by Venture Intelligence, the aggregate venture funding fell from $11.34 billion between January and March 2022 to $2.19 billion in the same period this year

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