BUSINESS
DLAI to launch fraud repository platform for fintechs amid growing cybersecurity concerns
DLAI was among the three organizations that applied for SRO-FT and is awaiting RBI’s nod on the same.
BUSINESS
Freshworks appoints former ServiceNow exec Murali Swaminathan as CTO
Swaminathan has joined Freshworks from ServiceNow, where he served as Vice President of Engineering, overseeing the company’s IT Service Management and Strategic Portfolio Management portfolio
BUSINESS
Women-focused finance app SALT pauses operations amid user acquisition challenges
MySalt was launched in 2020 by Chaitra Chidanand, Shinjini Kumar and Aditi Sholapurkar. The firm is looking for strategic investments to restart the business.
BUSINESS
HR tech SaaS unicorn Darwinbox elevates CTO Vineet Singh as co-founder
Singh spent the early years of his career as an engineer building products in both consumer and SaaS tech prior to joining Darwinbox.
BUSINESS
PhonePe diversification strategy pays off, high revenue growth likely to sustain
Consistent and sustainable profits at the payments division will probably help the company list publicly within a couple of financial years
BUSINESS
Ola-Uber challenger Namma Yatri eyes US foray, in talks to partner with American unions
The firm recently raised $11 million (Rs 92 crore) in a pre-Series A funding round.
BUSINESS
Paytm to complete Rs 100 crore-GIFT City investment plan in next 6 months
Paytm plans to set up a development centre in GIFT City, which it says will contribute to job creation and also have engineers to develop a suite of financial products and services.
BUSINESS
Fintech firm Slice gets NCLT nod to merge with North East Small Finance Bank
The order comes a year after the banking regulator, Reserve Bank of India gave the no-objection certificate (NOC) to the deal.
BUSINESS
Empathy towards founders a key value that operator-led VCs bring to the table: CaratLane founder Mithun Sacheti
Sacheti was recently appointed as a General Partner at Singularity Growth, and he also invests in D2C startups in a personal capacity.
BUSINESS
Krutrim AI now live with Ola Electric and Ola Cabs, says Bhavish Aggarwal
Aggarwal also said that the company is going to set up a 1-GW data centre facility by 2028
BUSINESS
Freshworks’ Chief Product Officer Prakash Ramamurthy resigns amid management rejig
The firm also announced in an SEC filing that its Chief Financial Officer, Tyler Sloat, will take up additional role as its Chief Operating Officer.
BUSINESS
Post IPO, Ola Electric's next focus on margin improvement, says MD Bhavish Aggarwal
Ola Electric Mobility has vertically integrated manufacturing and building and sourcing all auto components in-house, which is helping it to improve margins, said Aggarwal
BUSINESS
Sarvam AI partners with Yotta, unveils first commercial generative AI offerings
Sarvam has also teamed up with Meta to offer a WhatsApp stack designed for enterprises, featuring use cases such as conversation history, business instructions, targeted marketing, and consumer feedback.
BUSINESS
Bhavish has delivered on his promise, sparking an EV revolution—this is what fuels the excitement around Ola Electric's IPO: SoftBank’s Sumer Juneja
“What Bhavish has done from 2019, when our first cheque went in, to what the firm is now is phenomenal. The promise he has delivered, the EV revolution, is what is keeping people excited,” Juneja said
BUSINESS
I'm an advocate for founders taking money in secondary sale, says Freshworks founder Mathrubootham
The statement comes amid ongoing debate among investors and founders over the sale of founder shares in secondary markets, a trend increasingly common among new-age companies
TECHNOLOGY
IPO-bound Ather Energy appoints Zomato chairman Kaushik Dutta as independent director
Dutta is the Chairman and an Independent Director of Zomato and is also on the board of BharatPe.
BUSINESS
Stock trading platform Punch raises $7 million in a mix of debt and equity
The startup plans to allocate the funds towards research and development, technology and product enhancement, and talent acquisition.
TECHNOLOGY
Indian SaaS firms expected to raise $1 bn in 2024; 25% of investments focused on AI startups: Report
As per Bessemer Venture’s survey of early-stage software startups in India, around 90% have launched at least one AI feature in the past year.
TECHNOLOGY
Together Fund ropes in former Google VP Lakshmi Shankar as general partner
Shankar will head the VC firm's San Francisco office and focus on early-stage investments in AI startups in the US-India corridor
BUSINESS
Despite e-commerce slowdown, PAT doubled last year: Unicommerce promoter Kunal Bahl
Snapdeal-backed Unicommerce will open its initial public offer's (IPO) anchor book on August 5 and will list on bourses on August 13th.
BUSINESS
Have done enough for the market to see excitement on listing day: Ola Electric founder Bhavish Aggarwal
In a freewheeling conversation with Moneycontrol, the driven founder of Ola said he is prepared to face public market investors. He also said he is fully involved in Ola Electric as it is operationally intense.
TECHNOLOGY
Freshworks raises revenue forecast amid surging demand for AI solutions
Post the announcement, Freshworks shares rallied by 12% and closed at $14 a share on Nasdaq.
TECHNOLOGY
Freshworks reports 20% revenue growth to $174 million in Q2CY24
The firm’s Free Cash Flow (FCF) was $32.8 million in Q2 of 2024 which has gone up by around 81% YoY compared to $18.1 million in the second quarter of 2023.
TECHNOLOGY
IPO-bound Ola Electric's cost of imports from China jumped to 37% in FY24
The company’s total cost of materials consumed was around Rs 4,390 crore, of which, imports from China amounted to Rs 1,624 crore
