Page 3 - Startup

IIFL fintech fund picks up 16% in Insurance Samadhan for $2 million

The IIFL Group's early-stage investment vehicle, IIFL Fintech Fund, has invested USD 2 million (around Rs 16.5 crore) in insurance technology startup Insurance Samadhan for a 16 per cent stake, valuing the platform at around USD 13 million (around Rs 107 crore). The startup also received another USD 1 million from other investors in the series-A round. This is IIFL fintech fund's 10th investment and first in the insuretech space, the company said, adding it has already invested 50 per cent of the Rs 210 crore corpus of the fund. The IIFL group launched the fintech fund in August 2021 with a corpus of Rs 210 crore with sponsorships from two group companies--IIFL Finance and IIFL Securities. The fund has so far invested Trendlyne, Leegality, Finbox, Datasutram, Multipl, Finarkein, Trustcheckr, Finvu and Easyrewardz. Samadhan is an online platform that deals with resolving insurance related complaints such as mis-selling, lapsed policies, policy rejection, fraud or claim rejection in

Is Byju's experiencing growing pains?

Creditors of India's most-valued unicorn Byju's are pressuring it to sell off its US assets to repay loans. Is the edtech major still facing the growing pains of a start-up or spiralling downhill?

Low interest rate loans, tax incentives for Agri Startups in next Budget

The idea behind supporting agritech startups in India is to make the agriculture sector more durable along with supporting small farmers and encouraging best practices through raising awareness

Surprise corporate actions by Indian tech darlings spur investor scrutiny

Nykaa and Paytm are among a flurry of hot startups that came to the Indian market with much fanfare

Java Capital launches Rs 75 cr seed fund, announces first close at Rs 30 cr

Firm will invest in at least 15 technology and fintech start-ups, expects final close in 6 months

All you need to know about Theranos' former COO Sunny Balwani

Byju's seeks easier terms on $1.2 bn loan as it struggles with losses

Byju's, valued at $22 billion, has appointed an adviser to discuss tweaks in covenants of the term loan B with creditors

A 4-day workweek may find global acceptance but face roadblocks in India

Some Indian employees would prefer a 4-day workweek, but not everyone buys the idea, says a recent study

Agnikul first pvt firm to build launchpad & mission control centre in India

Development follows Skyroot Aerospace's launch of Vikram-S rocket on a sub-orbital flight from Sriharikota on Nov 18

Google Cloud joins hands with DSCI for boosting cloud adoption

"Secure with cloud" initiative will also provide industry best practices and frameworks with Start-up and mobile app ecosystems on privacy and security

SoftBank Vision Fund loses $7.2 billion on back of tech writedowns

The Vision Fund segment lost 1.02 trillion yen in July-September, following a 2.33 trillion yen loss in the June quarter. Overall, the Japanese conglomerate logged net income of 3.03 trn in last qtr

Cashback and coupons firm CashKaro raises Rs 130 crore in funding

Company will use funding for expansion, new technology and product development

Founding Fuel launches a paywall on select stories facilitated by Fewcents

The users will be allowed to make payments for a select set of individual stories instead of purchasing a bundle

Sequoia India may invest $50 mn in homegrown edtech startup

Sequoia India is reportedly planning to invest more than $50 million in K12 Techno Services, an edtech startup that provides a variety of services to educational institutions

Dhoni picks up equity in plant-based protein startup 'Shaka Harry'

Former Indian skipper Mahendra Singh Dhoni has picked up equity in the plant protein startup Shaka Harry', the company said on Tuesday. The startup, which has created plant-based mock-meat, said it has received USD 2 million in a seed funding round led by Better Bite Venture, Blue Horizon and Panthera Peak Ventures. The company has other investors like chef Manu Chandra. Speaking about the partnership, Dhoni told reporters that he loves chicken but now he is after a balanced diet. It is much easier with products from Shaka Harry, which has a wide range that delivers a healthier experience to that of traditional meat dishes, he said. Shaka Harry co-founder Anand Nagarajan said the company is serving over 30,000 customers across 10 cities monthly and expects to triple this number in the next few months. Another co-founder Hemalatha Srinivasan said the company is presently offering packaged product. She did not rule out the possibility of a food chain in the coming years.

India's startup sector sees 80% drop in Q3 funding, slowdown to continue

The funding in Indian startups nosedived a massive 80 per cent (year-on-year) in the third quarter (July-September period) this year, with the late stage funding seeing the biggest fall

Kerala's agriculture startup launches end-to-end supply chain for bananas

A Kerala-based agribusiness startup has launched an end-to-end supply chain connecting banana cultivators, traders and exporters on a single platform. The start-up, Greenikk, has built enablement centres (EC) in the major banana producing agricultural-belts in Kerala, Tamil Nadu and Karnataka to provide farmers with production and marketing-related support, a release issued by it on Thursday said. "These ECs will provide the farmers with required supports such as finance, seeds, crop advisory, insurance coverage, agri inputs, including weather tips, and market connect, covering the entire gamut of production and marketing both inside the country and outside," it said. "Similar ECs are planned in other south Indian states of Andhra Pradesh and Telangana and further scaling across the whole of India," the start-up said. The platform would also help farmers to better utilise the organic waste that is left behind after the harvest, as manure and poultry feed, the release said. Such ..

Mumbai Angels raises $ 2mn funding for recruitment automation start-up

TurboHire ensures accuracy in candidate selection and reduces the cost and time spent on hiring

Amazon claims to sale of 1 mn unique products of SMBs, startup in 36 hrs

E-commerce firm Amazon on Friday claimed to have recorded sale of 10 lakh unique products offered by small and medium business, startups etc from its platform during the first 36 hours of festive season sale. The company's festive season sale "Great Indian Festival" started from September 22 as it gave early access to paid users. The company said that its Prime users, who are paid members, grew 1.9 times than last year and 68 per cent of the total new sign ups were from Tier 2 and 3 cities. "It is encouraging to witness small and medium businesses, startups, artisans, women entrepreneurs offer a wide selection of products to our customer across India. We are humbled by the increase in new Prime member sign ups and customers shopping across categories as they trust Amazon as their preferred online shopping destination," said Manish Tiwary, Vice President & Country Manager, India Consumer Business, Amazon. According to Amazon, customers showed preference for television brands like ..

IVCA forms new VC Council, Sequoia India MD Rajan Anandan named chairman

The council was formed to strengthen governance practices for VCs and start-ups and continue working with govt and its agencies to improve the environment for venture capital in India