Page 6 - Startups In India

Several startups get RBI approval to operate as payment aggregators

According to industry insiders, several such applications are currently being processed by the RBI and more startups are expected to get approvals in the coming months

Meesho reduces logistics cost by 5% through software infra platform Valmo

E-commerce firm Meesho on Wednesday said it has reduced its logistics cost by 5 per cent by using its software logistics infrastructure platform Valmo. Valmo currently handles 20-22 per cent of orders of Meesho, which it plans to double in the next 12-18 months. The homegrown company announced that it has created a technology-enabled SaaS (Software as a service) platform Valmo to get micro-entrepreneurs in the logistics segment onboard to create a larger ecosystem and supply chain. The platform will incorporate local logistics suppliers to provide shipment services to the company, making the logistics seamless, and helping sellers on Meesho to save on operating costs. "Valmo aims to create a national logistics solution by eliminating entry barriers for local players and helping them grow their businesses," Meesho said in a statement. Meesho CXO, Fulfilment & Experience, Sourabh Pandey said the company has been able to reduce overhead costs by 5 per cent by incorporating Valmo for

Enterprise fintech industry set to surge, aiming for $20 bn market by 2030

'Large and small banks have started investing heavily in tech and are focusing on scaling their digital business throwing up opportunities for enterprise fintech firms'

Budget announcements to boost India's innovation-led economy: DPIIT secy

Announcements in the interim Budget 2024-25 with regard to deep-tech and startups will significantly help boost India's innovation-led economy, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said on Friday. Singh said the 11 per cent increase in capital expenditure (capex) to Rs 11.11 lakh crore for the next financial year, and the provision to provide Rs 75,000 crore as interest-free loan for 50 years to support reforms by states, will help further improve the country's logistics efficiency, connectivity and cut down the logistics cost. Provisions related to research and development "hopefully trigger some greater private sector investments in R&D. Announcement of a new scheme for strengthening deep-tech technologies is good for startups also... It will give a boost to India's increasingly becoming an innovation led economy," Singh told PTI. Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on ...

Interim Budget: Govt earmarks Rs 1 trn corpus for R&D in sunrise sectors

"For our tech-savvy youth, this will be a golden era," Sitharaman said

Sarvam aims to shape India's GenAI landscape: Co-founder Raghavan

Focus on efficient models and unique needs of the country mark Sarvam's journey

Prepping for IPOs, startups shore up ops and focus on profitability

Companies cutting costs to improve financial health, strengthening corporate governance systems

Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn

The AI startup is the third venture helmed by Aggarwal to achieve a $1 billion valuation, after mobility firm Ola and electric vehicle manufacturer Ola Electric

Ola founder Bhavish's Krutrim becomes first $1 billion Indian AI startup

It becomes the first Indian AI startup to gain a billion-dollar valuation, a mere month after debuting a large language model, the firm said in a blog post

Swiggy planning fresh layoffs; may cut 7% from 6,000-strong workforce

Swiggy plans to reduce its employment by 7 per cent, affecting 400 employees across teams like technology, call centers, and corporate roles

Quick commerce app Zepto elevates Nikhil Mittal to chief technology officer

In his new role, Mittal will be handling all verticals of engineering - customer facing, platforms and supply chain - at the company

Robots for reducing manual efforts to nanotech cancer therapy: IISc

FSID at the Indian Institute of Science is witnessing a significant increase in terms of the number of applications of deep tech firms over the last few years

$5 bn for EV, 20 unicorns women-led: Path of Indian startup boom since 2014

Despite the challenges due to persistent funding winter, Indian startups received $8.4 billion in funds from domestic and global investors in 2023

Games24x7 thrives amid new GST, explores innovative business models: CEO

'Despite GST, 2023 was best year for our fantasy sports, rummy platforms,' says Games24x7 CEO

FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr

Subsidiaries WhiteHat Jr, Osmo contributed to 45% of losses

Startup funding in India fell 62% to six-year-low in 2023: PrivateCircle

The funding deal volume fell by a sharper 72% in 2023 to 1,444 deals as compared to 5,114 deals in 2022

Unicorns meet Piyush Goyal, plan to set up 'Startups Club of India'

These startups are not only developing innovative solutions and technologies but are also generating large-scale employment and contributing to the growth of the nation

Atsuya Technologies wins Genesis Innovator at National Startup Awards 2023

Chennai-based deep tech startup has been recognised for pioneering solutions in IoT and AI

Gaming unicorn Dream11 onboarded 55 million users in 2023 amid tax battle

The company now boasts a total user base of 21 crore gamers, after breaching the 20 crore threshold in October last year

Automation, edge computing to bolster Zepto's tech stack: Kaivalya Vohra

In August this year, Zepto raised $200 million in a series E funding round at a $1.4 billion valuation to become a unicorn, ending an extended dry spell