BUSINESS
SurveyMonkey’s free product so good, hard to convert Indian users to paid plans: CEO Eric Johnson
25% of SurveyMonkey's R&D efforts will happen in India by 2025, Johnson said. The online survey platform has moved the development of several functions like market research and audience to the country.
BUSINESS
PhonePe invests over Rs 2,800 cr to expand infrastructure, including data centers, across India in data localisation push
According to the report, PhonePe’s investment is aimed at enhancing its ability to comply with stringent data localization regulations imposed by financial regulators
BUSINESS
PhonePe cuts customer support staff by 60% in 5 years, leverages AI chatbots
In FY24, PhonePe reported a significant 73 percent increase in revenue, reaching Rs 5,064 crore, on the back of cost efficiency and product diversification
BUSINESS
RBI ban on Navi, three more NBFCs leaves fintechs worried
RBI on Thursday barred Bengaluru headquartered-Navi Finserv and three more NBFCs to stop disbursing loans from October 21
BUSINESS
SurveyMonkey sets up office in Bengaluru to boost its global expansion strategy
SurveyMonkey has hired about 50 people in Bengaluru and plans to double its base by March 2025, CEO Eric Johnson has said
BUSINESS
Tiger Global-backed CleverTap plans reverse flip to India from San Francisco
While companies such as PhonePe, Groww and Pepperfry have completed their relocation, others like Pine Labs are in the process of moving to India
BUSINESS
Yulu set to launch new EV scooter for e-commerce delivery segment
The firm is planning to launch the product by the end of this financial year.
BUSINESS
Whatfix announces $58-mn ESOP buyback and investor liquidity event
Early investors such as Helion and Eight Roads will sell some shares as part of the buyback.
BUSINESS
Yulu surpasses $30 million ARR on rising demand from quick commerce
The firm has turned Ebitda positive and is looking to more than double its on-road EVs to 100,000 by 2025, cofounder and CEO Amit Gupta has said
BUSINESS
Zeta says processing around 2 mn transactions a day amid growing demand for credit on UPI products
For FY23, Zeta reported a net profit of Rs 22 crore on revenue of Rs 816 crore,
BUSINESS
Festive cheer: ONDC hikes monthly incentive payout by 50% to each network player in October
ONDC also recorded a 3.2 percent month-on-month growth in transactions in September to 12.90 million
BUSINESS
PB Fintech healthcare foray via separate entity, company will act as minority investor: Group CEO Yashish Dahiya
Dahiya said the new entity plans to acquire 6-8 hospitals in the NCR region. While it’s still too early to discuss specifics, he sought to clarify to prevent any misinformation that could lead to financial losses for investors
BUSINESS
Kissflow founder Suresh Sambandam launches 'Mudhal VC,' a new accelerator venture capital fund
Mudhal in Tamil translates to first capital and the VC firm will focus on Tier II and Tier III cities in Tamil Nadu
BUSINESS
Software and SaaS prices will come down, we are prepared for that world: Zoho CEO Sridhar Vembu
Zoho which is presently betting big on AI has already deployed several smaller models in enterprises. The firm's CEO also said that India needs to invest in our own foundational models in a cost-efficient manner.
BUSINESS
SaaS firm Whatfix raises $125 million in Series E funding from Warburg Pincus, SoftBank
The firm aims to expand its market presence in the US, EMEA, and APAC regions with the new funding.
BUSINESS
Atomicwork secures an additional $3 million in seed funding from global tech leaders
Founded in 2022 Atomicwork is an employee success solution that brings employees, IT systems, and HR operations together to drive business impact across any organisation.
BUSINESS
M2P raises Rs 850 crore in Series D funding round led by Helios Investment Partners
The firm is also eyeing to enter the public markets in the next 2-3 years, cofounder Madhusudanan R said.
BUSINESS
Visa processing platform Atlys raises $20 million led by Peak XV and Elevation Capital
The firm has also hired leadership talent with the funding and will focus on newer revenue streams like forex and insurance.
BUSINESS
Digital banking startup Freo plans reverse flip to India from Singapore
While companies like PhonePe, Groww and Pepperfry have completed their relocation, others such as Pine Labs are in the process of moving to India
BUSINESS
Reserve Bank Innovation Hub develops AI/ML model to tackle mule account fraud
RBIH has recently deployed its in-house model, MuleHunter AI, in a large public sector bank. This is more accurate than traditional systems and easy to deploy.
BUSINESS
Rapido to switch to all-electric bike-taxi fleet in Delhi by next year
Rapido is also entering the quick commerce delivery segment for hyperlocal deliveries and has recently gone live with Pincode and KPN Farm Fresh
BUSINESS
Ola Electric to grow revenue 2.5x faster, volumes 5x faster over next 3 years: Goldman Sachs
The international brokerage firm has initiated coverage on Ola Electric and has given a buy rating.
BUSINESS
Electric vehicle makers cheer PM's e-drive scheme
On September 11, the Union Cabinet approved PM E-Drive scheme with an outlay of Rs 10,900 crore.
BUSINESS
Karnataka: Disgruntled Ola Electric customer allegedly sets showroom on fire, no casualties
Kalaburagi Chowk police registered a case, and the accused has been taken into custody for interrogation. be scooter
