Startups News
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September 23, 2022 05:40 PM ISTMoonlighting: Is it cheating or the new reality?
Infosys banned it, and Wipro fired 300 employees because of it. On Moneycontrol Masterclass, we put the spotlight on the raging debate around #moonlighting with a superb panel. Is it legal? Should there be a formal policy for moonlighting? What is allowed and not allowed? Why is moonlighting rampant in the IT sector?
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September 23, 2022 04:41 PM IST Telecom bill doesn't force decryption of OTT messages: Ashwini Vaishnaw
The new telecom bill is expected to take 6-10 months to become law, but the government is not in a hurry, says the telecom and IT minister
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September 22, 2022 06:34 PM IST Farm-to-consumer brand Deep Rooted raises $12.5 million led by IvyCap Ventures
Deep Rooted provides urban consumers access to quality fruits and vegetables sourced directly from farmers. The firm currently operates in Bengaluru, Hyderabad, and Chennai offering over 200 varieties of fruits and vegetables
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September 22, 2022 05:37 PM IST PhonePe CEO Sameer Nigam makes renewed pitch for MDR, warns there is no path to recovery otherwise
Nigam pointed out that when payment modes are made free of cost there is an underlying assumption that companies involved in these businesses will have alternate sources of revenue. However, that may be possible for banks, but not startups, he added.
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September 22, 2022 12:18 PM IST Zetwerk's revenue up 6 times to Rs 4,961 crore, operating loss at Rs 42 crore in FY22
The B2B manufacturing service marketplace's revenue grew to Rs 4,961 crore in FY22 from Rs 835 crore in the previous year. If the non-cash ESOP expenses were to be omitted, Zetwerk would report an Ebitda profit of Rs 57 crore, it said
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September 22, 2022 10:54 AM IST D2C brand Join Ventures bags $23.5 million funding from Motilal Oswal
Two-year-old Join Ventures plans to use the funds to enhance technology and expand its captive dark stores' network. This is the second round raised by the startup this year after a $10 million Series-A round in February
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September 22, 2022 10:34 AM IST Start-up Street: Start-up advisory boards – boon or bane?
Challenging the founders and leadership on key issues, constructive criticism along with pointed suggestions help make for a good advisor
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September 22, 2022 06:49 AM IST A difficult candidate test, broken job promises and refund dispute: Unacademy’s Relevel comes under fire
With the growth engine sputtering, funding slowing down and the spectre of regulation looming large, there are many curveballs that Unacademy and its peers will have to grapple with in the coming months.
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September 21, 2022 07:45 PM IST Govt may allow creation of joint IPs between foreign companies, Indian start-ups: IT minister
Minister of State for Electronics and Information Technology (IT) Rajeev Chandrasekar said that the government is in the middle of creating one of the largest data set programmes which will enable access to anonymised and non-personal data on the platform for the entire AI ecosystem.
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September 21, 2022 07:35 PM IST Eight Road Ventures, B Capital lead $15 mn Series A round in math learning platform Bhanzu
Bhanzu said it will be using the funds to expand its business globally across multiple geographies. It will also enhance its tech infrastructure to create better learning experiences and will increase its workforce, and strengthen its curriculum.
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September 21, 2022 02:47 PM IST Fintechs need to ‘live' compliance, knowing regulations is not enough: Axis Bank MD & CEO Amitabh Chaudhry
Amitabh Chaudhry, MD & CEO of Axis Bank, added that while fintechs agree they understand the meaning of the word ‘compliance’, it is time they consciously start making it a part of their business model
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September 21, 2022 02:34 PM IST PhysicsWallah's Alakh Pandey, Zepto's Kaivalya Vohra join Hurun India's Rich List of 2022
Vohra, 19, has in fact become the youngest Indian and the first teenager to have personal wealth of at least Rs 1,000 crore, thanks to an over 50 percent rise in the valuation of Zepto, which he founded with Aadit Palicha in 2020, the report titled IIFL Wealth Hurun India Rich List 2022, showed. Palicha, 20, has also made it to the list.
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September 21, 2022 12:44 PM IST Investors sceptical about Zomato's quick commerce foray at US roadshow: Jefferies
A lot of investors expressed a fundamental question on Blinkit’s existence, with comments like ‘why someone wants grocery delivery in 10-min?’
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September 21, 2022 09:54 AM IST Zomato starts integration of food and grocery delivery fleets in multiple cities
In the best-case scenario, a fully-integrated delivery fleet is expected to reduce delivery costs for the company by up to 40 percent and improve rider earnings
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September 20, 2022 12:11 PM IST FM asks fintechs to look at green finance, engage more with government
Finance Minister Sitharaman at the Global Fintech Fest asked the industry to be in constant engagement with the government, across all levels.
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September 20, 2022 07:04 AM IST Byju’s becomes the world’s most-expensive edtech after FY21 revenue decline
Byju’s’ FY21 revenue released last week showed that the company has a revenue multiple of over 40 for the year as it was valued at about $13 billion as of March 2021.
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September 20, 2022 06:47 AM IST Insurtech SaaS firm Zopper raises $75 million in series C funding led by Creaegis
The funding comes after almost eight years from its last round from Tiger Global in 2015 where it raised around $20 million. In fact, in 2018, payments company PhonePe bought the point-of-sale (PoS) business of Zopper, which then shifted its focus to Insurance SaaS development.
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September 19, 2022 02:43 PM IST Oyo’s ESOP costs grow 344% to Rs 680 crore in FY22; CEO Ritesh Agarwal’s remuneration up 250%
Despite the steep rise in ESOP costs, the hotel aggregator’s employee costs grew only by 7 percent as salaries and bonuses were brought down by 27 percent
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September 19, 2022 12:53 PM IST DotPe raises $58 million in Series B, to expand into B2B financial services
The company plans to use the proceeds of the fundraise to grow its merchant base three times in the next two to three years
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September 19, 2022 10:23 AM IST Oyo's revenue rises 18% to Rs 4,905 crore in FY22, net loss narrows to Rs 1,851 crore
The Softbank-backed company is now targeting an initial public offering in January 2023 provided that India’s stock market continues to hold up and economic conditions improve, according to a report
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September 16, 2022 06:39 PM IST Tiger Global-backed Urban Company sees losses widen to Rs 514.14 crore in FY22
While most of the home repair and maintenance services were allowed to operate, beauty services had to be shut down in several parts of the country, which impacted business activity in Q1 FY22, the company said
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September 16, 2022 05:14 PM IST Kunal Shah's Cred to invest $10 mn in LiquiLoans to strengthen P2P lending capabilities
The investment will enhance Cred's partnership with LiquiLoans, which enables Cred's users to participate in P2P lending opportunities through the Cred Mint product.
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September 16, 2022 11:14 AM IST Upstox raises funds from cricketer Shikhar Dhawan, footballer Larry Fitzgerald
The additional investments follow Upstox’s Series C round of $108 million in November 2021
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September 16, 2022 07:35 AM IST MC Explains | Byju’s: How does it earn money and where does it spend?
This year, the company thus changed it to ‘sale of edutech products.’ Byju’s got Rs 1,848.74 crore from sale of edutech products that comprises tech embedded devices, tablets, SD cards and laptops. Sale of edutech products still accounts for the most of Byju’s revenue.
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September 15, 2022 09:06 PM IST Lightspeed-backed AI communications startup Rephrase.ai raises $10.6 mn in Series A
The funding will help Rephrase.ai to strengthen its capabilities by integrating product experiences, the company said. Rephrase.ai will also hire across departments including engineering, AI, product, sales and marketing, the company said. It would also expand its presence in North America.
