PhonePe Becomes India's Most Valuable Startup: Raises Rs 3000 Crore At Rs 98,000 Crore Valuation

Amazon India is the latest enterprise to be hit by mass layoffs in view of an impending recession and needing to cut costs. Earlier, other prominent outlets reported that it would be firing as many as 10,000 employees. Some sections more likely to be hit Now it appears that in India, hundreds of employees across […]

Data and analytics company GlobalData said on Thursday that despite the funding winter, 128 Indian startups have raised over USD 995 million (around Rs 8,000 crore) venture capital funding in August. Performing better than US, UK This is 9.7 per cent more than the previous month. Aurojyoti Bose, Lead Analyst at GlobalData, said that although […]

SBI has signed an agreement with the Karnataka Digital Economy Mission (KDEM) to start the country’s first dedicated bank branch which would provide credit facility for startups.  The facility will be called the ‘SBI Startup Hub’ branch, which is dedicated to provide cluster seed funds to startups. Enhancing startup ecosystem The agreement will boost the […]

Total funding raised by Indian startups in the June quarter fell 33 percent sequentially to $6.9 billion. It was not just lower than the $10.3 billion logged between January and March 2022, but also saw a decline compared to the same quarter of the previous year ($10.1 billion in Q2 of 2021). Funding winter The […]

The Indian startup culture is witnessing a duality- while more and more unicorns are expected to emerge, tens of thousands working in startups are left unemployed with mass layoffs happening every other day.  The ‘ASK Private Wealth Hurun India Future Unicorn Index 2022’ list names nearly 122 startups from 25 cities that are on the […]

Popular YouTube channel Physics Wallah, now known as PW, is set to become a unicorn once a potential fundraising is materialized. Online Popularity PW is an educational channel which offers online and offline courses and study materials for JEE, NEET and other engineering entrance exams. It has grown to an enormous level in the past […]

Social commerce startup Meesho has let go around 150 employees from its grocery arm which became part of the core app and rebranded it to Meesho Superstore last week. Removing Redundancies It said in a blog post that it looks to “boost efficiencies in the light of the integration” and has “removed redundancies” of a […]

Renowned startup accelerator Y Combinator has released its ‘Top Companies’ list for 2022. What Is Y Combinator? It is known for having invested in some of the biggest businesses in the world such as Dropbox, Coinbase among 3000 others. Over 260 of its portfolio companies are valued at over $150 million and more than 60 […]

Yet another unicorn has arrived and this time it is B2B ecommerce startup ElasticRun. The startup supplies goods to kiranas and helps them secure inventory and working capital. It also works with e-commerce firms. It is owned and operated by Ntex Transportation Services. Latest Fundraise To Unicorn Status ElasticRun has raised $300 million in its […]

The Union Government has been observing the ‘Startup India Innovation Week’ from Jan 10 – Jan 16, and the Karnataka government has added 75 startups, taking its total tally to 200 for providing a seed fund of up to Rs 50 lakh each to these companies this year. In order to promote technological innovation in […]

Indian Railways has hired a startup to handle the task of cleaning ‘gutka’ spit stains in the stations. It is estimated that the Indian Railways spends around Rs 1,200 crore and several thousand gallons of water annually to clean the stains from pan and tobacco users. Despite the place of a fine of Rs 500 […]

Bangalore-based startup Dukaan has raised $11 million in a new financing round with a valuation of $71 million. The one-year-old startup helps merchants open online stores and sell products digitally. Investors The Pre-Series A round was led by New York-headquartered 640 Oxford Ventures, Venture Catalyst, HOF Capital, Old Well Ventures, LetsVenture, and 9Unicorns. Existing investors […]

Justos is a Brazilian startup co-founded in Oct 2020 by Dhaval Chadha, Jorge Soto Moreno and Antonio Molins. The startup focuses on collecting drivers’ data to determine the rate of their auto insurance.  Those with safe driving habits would be rewarded by fairer prices.  About Justos The app will collect user data on their phones […]

Cred, the Bangalore-based fintech and ecommerce startup which facilitates credit card premium repayments and redemption of accrued reward points, has now entered the exclusive unicorn club, which includes firms that have reached a billion-dollar valuation.  Cred received fresh funding from new investor — Falcon Edge Capital and the existing Coatue Management, and raised $215 million, […]

Google has joined PayU and Info Edge Ventures by investing $27.5 million in DotPe -making it the first such Indian startup to receive capital of this magnitude just a year since launch. The firm is now valued at about $90 million.  DotPe, founded in 2019, is an offline-to-online (O2O) commerce and payments platform which provides […]

44 Indian startups turned unicorns (a term for companies after they reach a billion-dollar valuation), generated $106 billion in revenue for founders, employees, investors and the broader economy. With this they have directly and indirectly created 1.4 million jobs every year spread over a decade The Success Stories MakeMyTrip, InMobi, Paytm, Byjus, Cars24, Ola have […]

In order to promote the spirit of entrepreneurship and innovation in the country, the Indian government organised the country’s 1st National Startups Awards on Oct 6, 2020. This 1st edition of the Awards invited applications across 12 sectors, which were further sub-classified into a total of 35 categories. These startups were awarded the national award […]

Can you imagine the stress and troubles you will have to go through if your train ticket does not get confirmed? Troubles With Waiting List But now, no worries there because if you got listed on the waiting list or RAC (Reservation Against Cancellation), then still you have a chance to get a confirmed seat. […]

It turns out that this is a good period for Indians to invest and enter the startup market. It has been reported by multiple survey reports that the Indian tech startup market is not only burgeoning in size but also in the revenue it has been generating. Amongst a declining and not so bright economy, […]

With the expansion of start-up culture throughout the country, not only has this sector gained immense traction but also has had help from the government. Just recently, the finance minister has exempted the ‘angel tax’ for start-ups, helping them to boost their performances and services, without worrying much about taxation. Reports have fled in discovering […]