Page 5 - Startups

Sequoia emphasises 'zero tolerance' for irregularities after GoMechanic row

Venture capital firm writing off investment in GoMechanic and may take action against company's founders: Sources

IT and start-up hiring to stay muted in 2023, niche tech roles to keep pace

This layoff period, coupled with a lull in hiring, is expected to last over the next two or three quarters, say experts

Healtech startup Innovaccer lays off 15% employees amid structural rejig

An Innovaccer spokesperson said that the company's priority is to fully support its impacted employees, which includes offering them a generous package

Healthtech unicorn Innovaccer sacks 245 workers, second job cut in 5 months

Innovaccer had said that its business fundamentals are still strong

Venture capital investments in Indian start-ups plunge 38% in 2022: Report

Venture capital (VC) investments in Indian startups plunged over 38 per cent in 2022 as economic uncertainty and market volatility affected fundraising and investment activities, GlobalData said on Tuesday. In a statement, GlobalData said an analysis of its financial deals database reveals that "a total of 1,726 VC funding deals worth USD 20.9 billion were announced in India in 2022 compared to 1,715 deals worth USD 33.8 billion in 2021." "The ongoing economic uncertainty and market volatility continue to affect the fundraising and investment activities in India and subsequently VC investment in the country startups suffered a massive year-on-year 38.2 per cent decline in value terms during 2022," the data and analytics company said. Aurojyoti Bose, lead analyst at GlobalData, said India is a key Asia-Pacific market and stands just next to China in terms of VC funding deals by volume and value. It is also among the top four markets (the US, the UK, China and India) globally. India

Singapore's Zilingo to enter liquidation after crisis at fashion start-up

Zilingo had been one of the highest-profile startups to emerge from Singapore

Indian start-ups rejoice as SC upholds Android ruling against Google

The CCI order states Google can't impose such requirements now

Bhavik Koladiya takes Ashneer Grover to court over BharatPe share dispute

Bhavik Koladiya and his teacher's son Shashvat Nakrani founded the fintech firm BharatPe in 2017 and Ashneer Grover joined the startup in 2018 as CEO

VC firm Z3Partners closes Rs 550 cr fund to invest in early-growth startups

Leading global and domestic institutions and family offices, including HDFC Life and SIDBI, participated in the fund

Indian start-ups witness decline in hiring; struggle with attrition: Study

According to the study, over 64 per cent of the respondents wanted to shift jobs for a 'stable job'

National start-up day: Amid funding cloud, hopes for fresh pitch

Start-up funding in the cou­ntry declined 33 per cent during the year, the PwC data showed

Fractal Growth Partners eyes $250 mn fund to invest in Indian tech startups

"It's targeting investments of $10 million to $15 million per target company and plans to close the investments in about five years"

Startup VilCart raises $18 mn from investors to expand operations

VilCart, the rural economy-focused technology startup, has raised USD 18 million (Rs 144 crore) from investors to expand operations. The company raised this amount in a Series A funding round led by Asia Impact SA. Nabventures Fund and Texterity Pvt Ltd also participated in the round, VilCart said in a statement. With the use of this fund, VilCart aims to expand its operations to the entire South India by 2024. VilCart, which was established in 2018 by Prasanna Kumar and Amith S Mali, seeks to revolutionise the rural unorganised retail industry with technology by providing quality products at a competitive price to every rural household with modern supply chain and logistic facilities. The startup has established numerous private labels to utilise the established supply chain network and provide quality products to the rural population. Currently, VilCart has reached 85,000 kirana stores in 30,000 villages, covering 29 districts in Karnataka and one each in Andhra Pradesh and Tam

China saw the steepest fall in funding activity among global peers in 2022

India saw the second-highest fall in funding activity, down 33 per cent in 2022 from 2021, says Tracxn

Indian startup funding dropped by 33%, may become normal after 2-3 quarters

Many startups are using this time to tighten operating models and optimise their cash runway by deferring discretionary spends and investments

India's startup funding in 2022 double the pre-pandemic level: PwC

21 startups entered the unicorn club in 2022, highest from SaaS category

With $10.8 billion, Bengaluru top city on start-up funding in 2022: Report

There were 22 unicorns in 2022, compared to 46 in 2021, and average funding before the unicorn round was around $160 million

Startup movement picked up momentum in India: Union Minister Jitendra Singh

Union Minister Jitendra Singh on Thursday said the startup movement has picked up momentum in the country and led to the creation of over 80,000 startups, whose number was about 350 before 2014. Singh said that due to a push from Prime Minister Narendra Modi, the startup movement has picked up momentum in India. It has led to the creation of over 80,000 startups whose number was only about 350 before 2014, he said while speaking after inaugurating National Genome Editing and Training Centre (NGETC) at Mohali, Punjab. The Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences also inaugurated a four-day International Conference on Food and Nutritional Security 2023: - iFANS. Singh said that agri-tech startup has an exclusive potential in India, and the concept needs more awareness by all the stakeholders in the country to become a success. While saying the startup movement has picked up momentum in India, the minister said this quantum jump in th

India-built public goods infra globally applicable: Satya Nadella

Microsoft chief praises country's digital public good infrastructure as 'great, important'

Govt to release norms to support startups' innovation in technical textiles

The government will soon release guidelines to support startups interested in undertaking research and innovation in the technical textiles segment and is contemplating a grant of up to Rs 50 lakh for approved proposals, a top official said on Thursday. Responding to a query by PTI, Secretary in the Textiles Ministry Rachna Shah said that she is hopeful that the norms will be unveiled in a month's time. "We would have an evaluation committee which would decide on approving grant for that, so the grant would be up to Rs 50 lakh, that is what we are looking at," Shah said. Hopefully within a month or so, we will be able to have the guidelines, she added. Addressing a press briefing, the secretary informed that the government is looking at measures to cut India's heavy import dependence on machinery and specialty fibre for the technical textiles sector.