Startups: News
India's fintech funding declines 63% in 2023: Here's why
The Indian fintech industry saw a significant decrease in funding in 2023, with a 63% drop compared to the previous year.
ESOP cashouts in Indian start-ups fall 62% in 2023
In 2023, Indian start-ups experienced a significant drop in employee stock option (ESOP) cashout events, with only 16 occurrences compared to 42 the previous year, according to data from equity management platform Qapita.
Flipkart co-founder Binny Bansal launches e-commerce start-up OppDoor
Flipkart co-founder Binny Bansal is back in the game with his new start-up, OppDoor, which aims to help e-commerce businesses expand globally.
IPO-bound FirstCry's loss jumps 515% to Rs. 486cr in FY23
FirstCry, a leading e-commerce platform for baby products, has seen a 135% increase in revenue from operations, reaching Rs. 5,633 crore in FY23, up from Rs. 2,401 crore in FY22.
BharatPe's revenue jumps 182% YoY to Rs. 904cr in FY23
Fintech unicorn BharatPe has reported a whopping 182% year-on-year (YoY) increase in revenue from operations, reaching Rs. 904 crore in FY23, up from Rs. 321 crore in FY22.
India's start-up ecosystem: Tracing its growth and challenges in 2023
India's start-up ecosystem has undergone a transformative journey over the past decade.
AI start-up Anthropic is in talks to raise $750mn
Anthropic is in talks to raise a whopping $750 million (nearly Rs. 6,250 crore) in a funding round led by Menlo Ventures, according to Reuters.
ShareChat lays off 200 employees in a cost-cutting move
ShareChat, a prominent social media platform, has announced the layoff of nearly 200 employees, which accounts for 15% of its workforce.
Ride-hailing start-up viaDOTS plans to recruit 50,000 cab drivers
Bengaluru-based ride-hailing start-up viaDOTS announced on Tuesday that it plans to recruit 50,000 taxi drivers by the first quarter of 2024.
The full story of Nikola's founder and his imprisonment
Nikola founder Trevor Milton has been handed a four-year prison sentence after being found guilty of fraud in 2021.
Ola Electric-rival Ather Energy plans IPO by Diwali 2024
Indian electric two-wheeler start-up Ather Energy is gearing up for its initial public offering (IPO).
Zerodha founders' salaries touch Rs. 200 crore in FY23
Zerodha co-founders and brothers, Nithin and Nikhil Kamath, received a combined compensation of Rs. 195.4 crore in fiscal year 2022-23 (FY23).
Tech start-up funding plunges by 72% to 5-year low
India's tech start-up scene has hit a five-year low in funding, with a whopping 72% drop in 2023 compared to the $25 billion raised in 2022.
Jio Haptik launches Contakt, an AI tool to create chatbots
Artificial intelligence (AI) start-up Haptik, backed by Reliance Jio has introduced Contakt, a generative AI platform designed to help businesses create virtual assistants and enhance back-end support.
Sleep Company raises Rs. 184cr; doubles valuation in one year
The Sleep Company, a Mumbai-based start-up, has secured Rs. 184 crore in a Series C funding round led by Azim Premji-backed Premji Invest and Fireside Ventures.
BYJU'S delays final settlements of laid-off employees yet again
BYJU'S, the ed-tech giant based in Bengaluru, has once again failed to meet the deadline for providing full and final settlements to employees who were laid off, as per Moneycontrol.
InCred to join the unicorn club soon: Here's how
InCred Holdings Limited, the holding company of InCred Financial Services Limited, revealed that it has received commitments amounting to Rs. 500 crore in its Series D funding round.
VC funding declines 40% YoY in October to $625 million
In October 2023, the Indian start-up scene saw a significant decline in venture capital funding, with a nearly 40% drop compared to the previous year.
Indian start-up Xpressbees raises $80 million from Ontario Teachers' fund
Indian logistics company Xpressbees has secured $80 million in a recent funding round, led by Ontario Teachers' late-stage venture growth fund.
Co-working giant WeWork goes bankrupt: Here's what comes next
WeWork, the once highly-valued US start-up backed by SoftBank Group, has filed for bankruptcy protection as it struggles with costly leases and the surge in remote work.
Swiggy Instamart creator Karthik Gurumurthy to quit, start own venture
Karthik Gurumurthy, Swiggy's Senior Vice-President (SVP), is leaving the food delivery behemoth to launch his own start-up, Moneycontrol has reported.
27-year-old entrepreneur is helping Google, Microsoft democratize AI in India
In the quiet streets of Agara, a small village nestled in the lush landscapes of southwest Bangalore, a remarkable transformation is unfolding.
Mamaearth's IPO oversubscribed 7.6 times, receives bids worth Rs. 7,130cr
Mamaearth, an Indian skincare start-up, has seen its initial public offering (IPO) oversubscribed by a factor of 7.6, drawing bids totaling Rs. 7,130 crore.
Lenskart acquires TangoEye for AI-driven in-store improvements
Eyewear retailer Lenskart has purchased artificial intelligence-driven computer vision start-up TangoEye to enhance in-store and product experiences.
Rapido plans to enter cab business in India
Bike taxi start-up Rapido is venturing into the cab market, where it will compete with giants like Uber and Ola.
PM Modi to inaugurate India Mobile Congress on October 27
The 7th edition of India Mobile Congress (IMC), the nation's largest telecom industry event, is scheduled to be inaugurated by Prime Minister Narendra Modi on October 27 at Pragati Maidan in New Delhi, as announced by the Department of Telecommunications (DoT).
JioCinema's new OTT show will let you invest in start-ups
JioCinema is gearing up to launch Indian Angels, which is being touted as the world's first angel investment show on an over-the-top (OTT) platform.
Space start-up Agnikul raises $26.7mn to prepare for commercial launches
Indian space tech start-up Agnikul has raised $26.7 million to develop its small satellite rocket for commercial missions.
Swiggy increases platform fee on food delivery orders: Here's why
Popular food delivery service Swiggy has increased its platform fee by 50%, from Rs. 2 to Rs. 3 per order.
Dunzo's troubles mount as another top executive departs
Sudarshan N, Dunzo's Head of Finance, has stepped down from his position amid the hyperlocal delivery start-up's ongoing fundraising and cashflow management efforts.
Zerodha's Nikhil Kamath launches 'WTF Fund' for Gen Z entrepreneurs
Nikhil Kamath, co-founder of Zerodha, True Beacon, and Gruhas, has launched the "WTF Fund" to back young entrepreneurs under 22 years old in the fashion, beauty, and home industries.
BYJU'S lenders hire Kroll to safeguard assets of Great Learning
Kroll, a risk advisory firm, has been hired by BYJU'S lenders to protect the charged assets (assets used as collateral to secure loans) of Great Learning and BYJU'S Singapore branch.
Planning to start a business? Read these entrepreneurial books
Every successful entrepreneur has a unique journey, but one common thread among them is their thirst for knowledge.
Indian-origin entrepreneur fires 40% staffers of his fintech start-up
San Francisco-based fintech start-up Synapse, led by Indian-origin CEO Sankaet Pathak and backed by global venture capital firm Andreessen Horowitz (a16z), has laid off 86 employees, which is nearly 40% of its workforce.
BGMI-maker Krafton announces incubator for Indian gaming start-ups
Krafton, the mastermind behind the hit game BGMI, has launched the Krafton India Gaming Incubator (KIGI). This will bolster and broaden India's gaming landscape.
Another Dunzo co-founder set to exit start-up
Mukund Jha, co-founder and Chief Technology Officer (CTO) of the on-demand delivery start-up Dunzo, is rumored to be leaving the company soon.
Another setback for Dunzo as co-founder Dalvir Suri exits
Dalvir Suri, co-founder of hyperlocal delivery start-up Dunzo, is stepping down after more than six years with the company.
Nikhil Kamath-backed Third Wave Coffee secures $35mn in Series C
Indian specialty coffee and food brand Third Wave Coffee has secured $35 million in a Series C funding round.
BYJU's to fire around 4,000 employees in major restructuring move
Edtech giant BYJU'S is reportedly planning a significant restructuring exercise, including a fresh round of layoffs impacting up to 4,000 jobs, under its new India CEO, Arjun Mohan.
Zerodha FY23 results: Revenue and profit grow by over 40%
Zerodha, India's leading stockbroking firm posted a revenue of approximately Rs. 6,875 crore in fiscal 2023.