Page 9 - Start- Ups

Indian startup valuations rebound on path to profit, better macros

The firm increased the face value of its investment in e-commerce firm Meesho in its books by 14.3 per cent to $43.24 million as of July, bringing the company's valuation to around $5.04 billion

Export of auto parts must hit $100 bn by 2030: SCALE chairman Pawan Goenka

Speaking to Sohini Das, Goenka said that start-ups are playing a huge role in electric vehicle transition

Byju's changing fortunes: From buying spree to selling crown jewels

The valuation of the company led by Byju Raveendran jumped to $15 billion by April 2021. Raveendran used the funds to acquire some 20 companies worldwide

G20 Summit: Startups hope Delhi Declaration to help ease capital access

Startup20 forum, in its recommendations, called for a global definitional framework for start-ups as well as a policy framework to strengthen ecosystems within and across G20 nations

India could be the world's largest AI exporter: Nvidia CEO Jensen Huang

The company is betting big on the startup ecosystem and is working with 15,000 startups globally, including in India, to partner on AI projects

Funding into edtech sector plunges 48% in 2023 due to decreased demand

Experts said that the demand-supply mismatch between teachers and course availability in offline education is expected to fuel the growth in the sector in the coming years

Sovereign Wealth Fund Institute lines up opportunity for startups funding

Of the six global startups that will be presenting their five-minute elevator pitches at FORT North America 2023, two will be Indian, representing the fast-growing startup ecosystem in the country

G20 Summit: Easier global startup regime to tighter monitoring of disasters

New Delhi's real legacy at the premier global forum may be the new discussions it began

Young consumers buying into brand narratives first, say new-age founders

Many young consumers are preferring to base their buying decisions on brand narratives first and products second, according to new-age brand founders. In the age of sustainability and brand connect, founders of D2C and new-age companies feel their stories convince consumers for repeat purchases, but others feel that it is the product which convinces the consumer, because it solves a problem for them. Shark tank fame oral care brand Perfora's founder Jatan Bawa said that people buy into the narrative of a young brand which is challenging the status quo, unlike legacy brands whose founders or brand building story is not well-known. "The consumers of today buy into brand narrative first and product second, because they're looking for transparency, and to resonate with the story of brands that they can be part of. With legacy brands the problem is that you don't know who started them. But most people who are consumers of young brands know the founder and their story, because the founder

Byju's and lenders postpone legal battle, aim for out-of-court settlement

The parties are working on reaching a forbearance agreement, and discussions are still ongoing

VC firm gradCapital launches $6 million fund for students' startups

Bengaluru-based venture capital fund gradCapital has launched its second fund of USD 6 million (about Rs 49 crore) to invest in students' startups. The VC fund on Friday said it will offer a standard cheque of USD 40,000 (Rs 33 lakh) at 4 per cent equity in companies set up by students. gradCapital co-founder and CEO Abhishek Sethi said, "We are not in the business of finding and investing in deals, we are in the business of letting students be more ambitious and build a future, despite having a challenging education system. Students are more likely to start a D2C company instead of a quantum computer, and we need more of the latter." The selected entrepreneurs will take part in a four-week cohort programme in Bengaluru, which will include meetings with Ather Energy co-founder Tarun Mehta, Razorpay co-founder Shashank Kumar and Zerodha CTO Kailash Nadh, the company said. The fund is backed by CIIE.CO and the cohort has Nearbuy co-founder Ankur Warikoo, Info Edge founder and Executi

Cabinet okays Rs 5k cr PRIP scheme to boost research and innovation

The scheme is set to stimulate collaboration between pharmaceutical companies, Cabinet greenlights Rs 5,000 crore PRIP scheme to boost research and innovation institutions, and start-ups

Byju's business head Prathyusha Agarwal resigns amid reorganisation

Agarwal had joined Byju's in February 2022 from Zee Entertainment Enterprises. Two other business heads - Himanshu Bajaj and Mukut Deepak - have also left, the company

HDFC Bank signs MoU with StartupTN to foster entrepreneurship in Tamil Nadu

Private sector HDFC Bank has signed a memorandum of understanding with StartupTN to promote innovation and entrepreneurship in Tamil Nadu, the bank said on Thursday. Through the partnership, the bank aims to contribute significantly towards the growth and success of startups present in the state. StartupTN, is backed by the Tamil Nadu government and aims to nurture a vibrant startup ecosystem in Tamil Nadu resulting in innovation and entrepreneurship driven employment and economic growth. The agreement was signed between HDFC Bank Senior Vice-President and Circle Head, Coimbatore, Ilamurugu Karunakaran and StartupTN Mission Director and CEO Shivarajah Ramanathan during the Tamil Nadu Startup Thiruvizha 2023 held in Coimbatore recently. "In Tamil Nadu alone we have more than 6,000 Department for Promotion of Industry and Internal Trade recognised startups. StartupTN has done transformational work to support startups across stages in the state and we hope to leverage their network an

Noida-based startup has built navigation system of Isro's Pragyan rover

With the Pragyaan rover poised to navigate the moon, its eyes to traverse the crater-filled lunar surface will be powered by a software developed by a Noida-based tech start-up. Omnipresent Robot Technologies, which has been working closely with ISRO for the Chandrayaan series of lunar missions, has developed Perception Navigation Software for the Pragyaan rover that is housed in the Vikram landing module that touched down on the moon Wednesday evening. "We are very excited and look forward to seeing the Pragyaan rover navigating the lunar surface using our software," Aakash Sinha, Chief Executive Officer of Omnipresent Robot Technologies, told PTI here. Sinha, who is also a professor at Shiv Nadar University, said the software developed by his start-up will capture images of the moon using the two cameras of the lunar rover and stitch them together to generate a 3-D map of the lunar landscape. This software has been in-built in the rover and the image processing will be done onbo

Funding spring for startups may return in next 12 months, say analysts

The India tech startup ecosystem witnessed its highest funding of $43.5 bn in 2021 and after this, the funding started to witness a downfall and there is no sign of improvement in the funding to date,

No FIR against entrepreneurs, traders in UP without investigation

Uttar Pradesh Chief Minister Yogi Adityanath has ordered that a preliminary investigation be conducted before filing a First Information Report against traders and entrepreneurs

OpenAI acquires start-up Global Illumination to work on ChatGPT, products

Global Illumination most recently worked on open-source technology related to online game production

Physics Wallah to cross Rs 2,400 cr in revenue in FY24, says co-founder

Where Byju's acquisitions were indiscriminate, PW's are measured, says co-founder

Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study

Stock offer key component in increments for senior leadership roles, it says