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Bhavya Dilipkumar

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Karnataka govt proposes 5% commission for app-based auto aggregators Ola, Uber and Rapido

BUSINESS

Karnataka govt proposes 5% commission for app-based auto aggregators Ola, Uber and Rapido

Earlier, the government had agreed to the Karnataka High Court’s temporary orders to cap the commission charged by the aggregator at 10 percent.

SAP Labs India bets big on sustainability solutions, launches startup accelerator cohort for 2023

BUSINESS

SAP Labs India bets big on sustainability solutions, launches startup accelerator cohort for 2023

Through its Startup Accelerator, SAP Startup Studio the company has opened a new cohort batch for 2023 and will be helping around 10 startups for 12 months.

Ather charts ambitious plans to become India's biggest EV maker, invests Rs 320 crore in new plant

BUSINESS

Ather charts ambitious plans to become India's biggest EV maker, invests Rs 320 crore in new plant

The EV maker is in the final stages of getting an approval from the state govenrment to set up another new plant with a total capacity of around one million electric vehicles per annum by the end of FY23.

B2B procurement firm ProcMart raises $10 million from Sixth Sense Ventures

BUSINESS

B2B procurement firm ProcMart raises $10 million from Sixth Sense Ventures

ProcMart plans to achieve a revenue of Rs 1,000 crore in the next three years, founder Anish Popli has said. The startup plans to expand to Vietnam, Australia and Dubai in the coming months

Zoho Books’ India revenue up 81% in 2021

BUSINESS

Zoho Books’ India revenue up 81% in 2021

The biggest challenge is acquiring customers. However, while the Customer Acquisition Cost has gone up due to macroeconomic pressures, Zoho is seeing strong retention rates.

Launching state's own ride-hailing app not feasible: Karnataka transport commissioner

BUSINESS

Launching state's own ride-hailing app not feasible: Karnataka transport commissioner

The newly appointed transport commissioner SN Siddaramappa’s words came as a response to Bengaluru residents' and auto drivers' request to the government to develop a state-run app and decide on the fares

Contentstack bags $80 million in Series C funding led by Georgian, Insight Partners

BUSINESS

Contentstack bags $80 million in Series C funding led by Georgian, Insight Partners

Georgian’s Lead Investor Emily Walsh to join the Contentstack board along with Contentstack CFO David Overmyer

Yulu secures $9 million from US International Development Finance Corporation

BUSINESS

Yulu secures $9 million from US International Development Finance Corporation

The firm plans to utilise the funds to strengthen momentum towards enabling green last-mile mobility for people movement and goods deliveries, Yulu has said

SaaS unicorn Darwinbox opens new global headquarters in Hyderabad, plans IPO in 3 years

BUSINESS

SaaS unicorn Darwinbox opens new global headquarters in Hyderabad, plans IPO in 3 years

The SaaS unicorn is planning to go for an IPO in the next three years and charts plans to turn profitable by FY2024

India's top VCs, startup founders back ACT-BCG's Green Startup Pledge

BUSINESS

India's top VCs, startup founders back ACT-BCG's Green Startup Pledge

The Green Startup Pledge will drive this transition, support startups in scaling with sustainable practices and providing resources so that India can deliver on its climate promises

Ola to shut down its infotainment service Ola Play from November 15

BUSINESS

Ola to shut down its infotainment service Ola Play from November 15

In the public notice, Ola said that the company restricts any third party from any kind of usage of, modification, or transfer of the Ola Play devices more particularly during the ride-hailing services.

SaaS firms brace for rough ride as macroeconomic conditions worsen

BUSINESS

SaaS firms brace for rough ride as macroeconomic conditions worsen

While many investors still bat for the sector calling it “just another cycle of correction”, there is fear that valuations for SaaS companies will see sharper cuts as more layoffs and cost rationalization are on the cards.

HR tech startup Keka secures $57 million from WestBridge Capital

BUSINESS

HR tech startup Keka secures $57 million from WestBridge Capital

Founded by Vijay Yalamanchilli in 2015, Keka is an HR tech platform in India for small and medium enterprises with 20-5,000 employees.

AI firm Mad Street Den acquires New York-based Inturn

BUSINESS

AI firm Mad Street Den acquires New York-based Inturn

Inturn offers enterprise solutions to help companies manage unsold inventory across all verticals. Presently, Inturn supports some of the largest global brands and retailers like Unilever, Kind, and more.

App-based auto ban: Karnataka HC allows govt, cos more time to conclude on commission charges

BUSINESS

App-based auto ban: Karnataka HC allows govt, cos more time to conclude on commission charges

This comes as an extension time given by the Karnataka High Court, which had previously given 15 days' time to the state government, regulators, and cab aggregators to work out a fair pricing mechanism.

Tiger Global and Sequoia-backed SaaS unicorn Chargebee lays off 10% staff

BUSINESS

Tiger Global and Sequoia-backed SaaS unicorn Chargebee lays off 10% staff

In a letter shared with the Chargebee’s team, Subramanian wrote that the company changed its hiring plan to align with priorities.

D2C firm The Sleep Company raises Rs 177 crore in Series B funding

BUSINESS

D2C firm The Sleep Company raises Rs 177 crore in Series B funding

The company plans to utilise the funding towards expanding its retail presence and strengthening the team to build a global business

Trouble for Freshworks as US-based law firms file class action lawsuit

BUSINESS

Trouble for Freshworks as US-based law firms file class action lawsuit

Scott+Scott said that the company’s net dollar retention rate was plateauing, and its revenue growth rate and billings were decelerating during IPO.

Global Investors Meet: JSW Group plans to invest additional Rs 1 lakh crore in Karnataka over five years

BUSINESS

Global Investors Meet: JSW Group plans to invest additional Rs 1 lakh crore in Karnataka over five years

Karnataka has held its position as one of the most preferred investment destinations in India, truly representing the government’s "One State, Many Opportunities" mantra, Sajjan Jindal said.

Freshworks posts 37% rise in Q3 revenue at $128.8 million, reduces growth forecast

BUSINESS

Freshworks posts 37% rise in Q3 revenue at $128.8 million, reduces growth forecast

Despite the slow growth in the economy, CEO Mathrubootham said that the firm witnessed steady growth in markets like North America, in the mid-market enterprise segment.

Karnataka ban impact: Uber may restrict auto services in parts of Bengaluru

BUSINESS

Karnataka ban impact: Uber may restrict auto services in parts of Bengaluru

Since removing the doorstep compensation on Uber, cancellations have increased by over 50 percent in the city, as availability reduces and drivers turn down trips that are not economically viable for them

The K'taka Transport Department and app-based auto aggregators are in loggerheads again: Here's why

BUSINESS

The K'taka Transport Department and app-based auto aggregators are in loggerheads again: Here's why

The Karnataka High Court had given 15 days time to the state government, regulators, and cab aggregators to work out a fair pricing mechanism. The next hearing was adjourned to November 7

Apple India’s revenue crosses $4-bn mark, profit up 3% in FY22

BUSINESS

Apple India’s revenue crosses $4-bn mark, profit up 3% in FY22

While announcing the results, Apple’s chief financial officer Luca Maestri said that India set a new all-time revenue record in terms of iPhone sales during the quarter.

Infibeam surges on RBI nod for payment aggregator business

BUSINESS

Infibeam surges on RBI nod for payment aggregator business

Other players who have received the RBI's in-principal approval for the licence include Razorpay, Pine Labs, Innoviti, Easebuzz, Stripe, MSwipe, NTT Data Payment Services, and 1Pay Mobileware