Page 11 - Start Ups

EV startup Simple Energy raises $20 million in series A funding round

The funds will be used to scale up the production of Simple Energy's e-scooters, the Simple One and Simple Dot One

With no angel tax, startups and investors hope for better funding scenario

While the abolition of the angel tax is a big win for startups and their investors, the ecosystem is not out of the woods yet

Razorpay eyes $750 billion P2M payments by 2030, says CFO Arpit Chug

The startup, which is valued at over $7 billion, is intensifying its efforts to achieve profitability in all of its businesses and move its domicile to India, as it is planning an IPO in 2-3 years

WazirX unveils recovery plan after $230 mn cyberattack, seeks user vote

WazirX will socialise the loss and distribute its impact across all the users on the platform

WayCool lays off over 200 employees, aims to achieve profitability

Layoffs have impacted employees across Chennai, Bengaluru and Hyderabad

Funding winter for startups may end with angel tax abolition: DPIIT Secy

A system of quarterly disbursement is in place for many sectors, except for few, such as food processing, where it is not feasible, he says

Union Budget 2024: R&D, spacetech fund gives deeptech startups a boost

The govt is working on National Deep Tech Start-up Policy as part of its efforts to spur innovation in India's deeptech sector. The policy attempts to address the vital barriers facing the industry

Credit on ONDC and OCEN awaits their 'UPI moment' as deployment begins

A lot of interest in joining an open network also boils down to how operational costs can be brought down in lending businesses. NBFCs and fintech could drive credit innovation on open networks

Urban Company revenue up 37.3% in Q1FY25, loss narrows to Rs 93 cr in FY24

The company, meanwhile, posted first-ever operational profit in the June 2024 quarter, Urban Company said on Tuesday

Angel tax abolition significant milestone, will boost startups: IT Minister

It is a "very good decision" and has been the biggest demand of deep tech startups, Vaishnaw said, adding that the move will spur investment in startups

Qatar sovereign fund asks HC to block Byju founder's personal assets

Qatar Investment Authority invested in edtech company in 2019 and 2022

Cashfree Payments gets payment aggregator-cross border licence from RBI

The Bengaluru-based company is one of the first non-banks to receive the PA-CB licence, according to the RBI's website

Swiggy Instamart bolsters leadership team with Amazon, Reliance picks

Himavant Srikrishna Kurnala, Mayank Rajvaidya, Manu Sasidharan, and Kumar Rahul join Swiggy in key roles

117,254 DPIIT-recognised startups created 1.2 mn direct jobs: Eco Survey

Startups soar from 300 to over 100k in 7 years

Insolvency proceedings will force edtech major Byju's to shut down: CEO

The 452-page filing at the High Court of Karnataka, made by Raveendran's counsel MZM Legal, is not public but has been reviewed by Reuters

Edtech firm Byju's moves NCLAT against NCLT order, seeks urgent hearing

Byju's, once valued at $22 billion, is seeking an urgent hearing at NCLAT against the insolvency order by NCLT based on a plea from BCCI over the non-payment of Rs 158 crore

Krutrim takes on Google, unveils new pricing & future roadmap for Ola Maps

For larger volumes, despite recent price adjustments by Google, Krutrim said it is offering prices which are 50 per cent of Google Maps' reduced rates, ensuring value for the users

India's first pvt deeptech hub launches in NCR, aiming to mobilise $100 mn

Collectively, the hub targets to mobilise $100 million in the Indian deeptech ecosystem

Bigbasket ventures into SaaS-based supply chain platform BB Matrix

BB Matrix will provide three SaaS verticals - a Warehouse Management System (WMS), a Transport Management System (TMS), and an Order Management System (OMS)

Boon raises $5 mn in funding from Spanish Roca Group Ventures, others

The funding was led by Spanish Roca Group Ventures, and Roca Group's Venturing Fund, among others