Page 29 - Startups

Economic Survey: Start-up jobs increase 6x even as funding declines

Tracxn data shows that investments in domestic start-ups declined by 38.8% to $25.8 bn in 2022

How Tiger-backed Geniemode is building powerhouse for world fashion players

Their firm, Geniemode, today has over 250 suppliers in India and Bangladesh to serve some of the biggest names in fashion globally

Physics Wallah plans to hire 2,500 employees across verticals by March

Unicorn edtech firm Physics Wallah plans to hire 2,500 employees in the ongoing quarter across different roles, the company said on Monday. The development comes at a time when massive lay-offs have been announced by several edtech companies including Byju's, Unacademy, Vedantu, FrontRow etc in the past one year. "The hiring spree is aligned with the brand's ambitious growth goals as it continues to provide top-of-the-line learning opportunities to students. The new positions opened up at PW cut across different roles and responsibilities," PW said in a statement. The company at present has built a team of 6,500 employees, including over 2,000 teachers and educational experts. Physics Wallah said that it is hiring faculty members as well as professionals for allied roles like business analysts, data analysts, counsellors, operations managers, batch managers, teachers, and many more. "PW is a growing family and it brings us joy to see more students relying on our platform to learn

Piyush Goyal calls for creation of network to strengthen start-up ecosystem

The Union Minister was addressing the inaugural session of the Inception Meeting of the Startup 20 Engagement Group of G20 in Hyderabad

US venture capitalists hope Budget 2023 supports growth, startup ecosystem

US venture capital firms investing in India are expecting the Union Budget 2023 to support the growth and development of the startup ecosystem in the country, according to a top investor. Union Finance Minister Nirmala Sitharaman is scheduled to table the Union Budget for the financial year 2023-24 before parliament on February 1. The venture capitalist community here in the US is very excited given the large number of unicorns emerging out of India in recent years. According to Arun Kumar, managing partner of Celesta Capital, the venture capitalists want to capitalise on Indian talent and invest in them. As a US-based venture capital firm investing in India, we are keenly interested in policies and initiatives that will support the growth and development of the startup ecosystem in the country, Kumar told PTI. Signals and allocations in the Budget that further the growth of new ventures based on innovation and entrepreneurship would be particularly welcome, Kumar said. Kumar serv

Google employing 'delaying tactics' and exploiting loopholes, say startups

Indian startups said that the company is using the same "playbook" it employed in Europe and South Korea

Top Headlines: Govt payout under PLI, India-made 4G, 5G tech stacks & more

Business Standard brings you the top headlines at this hour

Sequoia emphasises 'zero tolerance' for irregularities after GoMechanic row

Venture capital firm writing off investment in GoMechanic and may take action against company's founders: Sources

IT and start-up hiring to stay muted in 2023, niche tech roles to keep pace

This layoff period, coupled with a lull in hiring, is expected to last over the next two or three quarters, say experts

Healtech startup Innovaccer lays off 15% employees amid structural rejig

An Innovaccer spokesperson said that the company's priority is to fully support its impacted employees, which includes offering them a generous package

Healthtech unicorn Innovaccer sacks 245 workers, second job cut in 5 months

Innovaccer had said that its business fundamentals are still strong

Venture capital investments in Indian start-ups plunge 38% in 2022: Report

Venture capital (VC) investments in Indian startups plunged over 38 per cent in 2022 as economic uncertainty and market volatility affected fundraising and investment activities, GlobalData said on Tuesday. In a statement, GlobalData said an analysis of its financial deals database reveals that "a total of 1,726 VC funding deals worth USD 20.9 billion were announced in India in 2022 compared to 1,715 deals worth USD 33.8 billion in 2021." "The ongoing economic uncertainty and market volatility continue to affect the fundraising and investment activities in India and subsequently VC investment in the country startups suffered a massive year-on-year 38.2 per cent decline in value terms during 2022," the data and analytics company said. Aurojyoti Bose, lead analyst at GlobalData, said India is a key Asia-Pacific market and stands just next to China in terms of VC funding deals by volume and value. It is also among the top four markets (the US, the UK, China and India) globally. India

Singapore's Zilingo to enter liquidation after crisis at fashion start-up

Zilingo had been one of the highest-profile startups to emerge from Singapore

Indian start-ups rejoice as SC upholds Android ruling against Google

The CCI order states Google can't impose such requirements now

Bhavik Koladiya takes Ashneer Grover to court over BharatPe share dispute

Bhavik Koladiya and his teacher's son Shashvat Nakrani founded the fintech firm BharatPe in 2017 and Ashneer Grover joined the startup in 2018 as CEO

VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups

Leading global and domestic institutions and family offices, including HDFC Life and SIDBI, participated in the fund

Indian start-ups witness decline in hiring; struggle with attrition: Study

According to the study, over 64 per cent of the respondents wanted to shift jobs for a 'stable job'

National start-up day: Amid funding cloud, hopes for fresh pitch

Start-up funding in the cou­ntry declined 33 per cent during the year, the PwC data showed

Fractal Growth Partners eyes $250 mn fund to invest in Indian tech startups

"It's targeting investments of $10 million to $15 million per target company and plans to close the investments in about five years"

Startup VilCart raises $18 mn from investors to expand operations

VilCart, the rural economy-focused technology startup, has raised USD 18 million (Rs 144 crore) from investors to expand operations. The company raised this amount in a Series A funding round led by Asia Impact SA. Nabventures Fund and Texterity Pvt Ltd also participated in the round, VilCart said in a statement. With the use of this fund, VilCart aims to expand its operations to the entire South India by 2024. VilCart, which was established in 2018 by Prasanna Kumar and Amith S Mali, seeks to revolutionise the rural unorganised retail industry with technology by providing quality products at a competitive price to every rural household with modern supply chain and logistic facilities. The startup has established numerous private labels to utilise the established supply chain network and provide quality products to the rural population. Currently, VilCart has reached 85,000 kirana stores in 30,000 villages, covering 29 districts in Karnataka and one each in Andhra Pradesh and Tam