TECHNOLOGY
Ola Electric gets Sebi approval for Rs 7,250-crore IPO
Ola Electric filed its draft red herring prospectus (DRHP) with the markets regulator on December 22.
TECHNOLOGY
Bootstrapped Chennai-based SaaS firm Kissflow lays off 45-50 employees
The firm had more than 400 employees before the layoffs were announced in India, the US, and the UAE
TECHNOLOGY
Manufacturing startups pin hopes on Modi 3.0 for policy support, growth levers
Founders are also expecting that the government will double down on the fund of funds scheme
TECHNOLOGY
Tiger Global-backed Jar to launch health, general insurance products
Digital gold micro-savings platform Jar is in talks with a couple of partners to be a distribution player for general and health insurance, CEO Nishchay AG has said
TECHNOLOGY
Groww banega crorepati: Active user base set to cross 1 crore in May
Groww's approach to education and investment helped them stand out from the trading-focused competitors.
TECHNOLOGY
Lightspeed-backed Yellow.ai to launch LLMs in Indian languages for customer-service functions
Yellow.ai co-founder and chief product officer Rashid Khan said that the model, built on the foundational framework of Llama-2, will be live by October.
TECHNOLOGY
Zypp Electric raises $15 million in ongoing series C round led by ENEOS
Zypp, which serves e-commerce and food and grocery delivery players like Swiggy, Zomato and Amazon, operates in Delhi-NCR, Mumbai, Hyderabad and Bengaluru
TECHNOLOGY
Users of credit card on UPI spending over Rs 22,000 every month on Kiwi platform: Report
The average number of transactions using a credit card on UPI was recorded as 21 per month, which is four times higher than a traditional physical credit card.
TECHNOLOGY
Neogrowth looking to raise Rs 500 crore, eyes AUM of Rs 4,000 crore by March
CEO and MD Arun Nayyar says the firm is looking to go for an IPO over the next 18-24 months
TECHNOLOGY
Ola Cabs CFO Karthik Gupta steps down seven months after taking charge
Before joining Ola, Gupta worked as the vice president and regional CFO of Asia Pacific, Middle East and Africa of Procter and Gamble for nearly 17 years.
TECHNOLOGY
EV maker Bounce launches new scooter variant E1X with battery swapping technology
The EV scooter is priced between Rs 59,000- Rs 60,000 per vehicle and will be available in the market by the end of May.
TECHNOLOGY
Former Freshworks executives’ gen AI startup Highperformr secures $3.5 mn in seed funding
The round also saw participation from angel investors including Shan Krishnasamy cofounder and former CTO of Freshworks.
TECHNOLOGY
Unlike other startup IPOs, our promoters didn't want to sell more: Go Digit's Kamesh Goyal
The offer for sale (OFS) portion of the issue been slashed by almost 50% from 10.94 crore shares to 5.48 crore shares. The company aims to raise Rs 2,614 crore through the issue at the upper band of the IPO.
TECHNOLOGY
Former Tesla executives-led DG Innovate enters India in a JV with EVage Motors
Under the JV, they will manufacture electric motors at around 98.5 percent efficiency at EVage’s Modular Miniature Manufacturing micro-factory and first batch of motors will be available over the next 12-18 months
BUSINESS
India aims to be the AI use-case capital of the world, says Nandan Nilekani
Nilekani also said that doomsday propagators of AI are protectionists while India will open technology for all
BUSINESS
Zoomcar in talks with EV car OEMs and dealers to assist hosts with vehicle ownership
The firm is also doubling down on its supply side or the host business through value-added services by tying up with Cars24, Spinny, and Droom to help hosts build more supply
TECHNOLOGY
Pressure to manage stock price would be brutal: Zoho founder Sridhar Vembu amid top deck rejig at Freshworks
Vembu reiterated that Zoho will remain a private company so that he can work with people for a long term on critical projects
TECHNOLOGY
Exclusive | I am not building Girish’s company, I’m building a global products company: Freshworks founder Girish Mathrubootham
Since founding the startup in 2010, Mathrubootham has been a key force for Freshworks to move from a small startup in Chennai, which he calls as a ‘garage startup’, into a Nasdaq-listed software firm in the US.
TECHNOLOGY
Freshworks reports a 20% YoY jump in revenue to $165 million in Q1 of 2024, net loss down by 44% to $24 million
Freshworks has full-year guidance revenue of $695 - $705 million and the company has also guided a full-year operating profitability of $58 -$64 million in 2024.
TECHNOLOGY
Freshworks founder Girish Mathrubootham redesignated as executive chairman, Dennis Woodside takes charge as CEO
Mathrubootham will now be spending more time on the long-term product vision, innovation and AI strategy.
TECHNOLOGY
Former BharatPe COO Dhruv Dhanraj Bahl launches maiden VC fund with total corpus of Rs 120 crore
Bahl joins a series of former executives of BharatPe who have moved to launch their own startups and venture capital funds like OTP Ventures, OTPLess and GrowthCap Ventures
TECHNOLOGY
Ola Electric's market share crosses 50% even as India EV sales dip in April
EV two-wheeler sales fell 52 percent to 64,013 units in April from the preceding month
TECHNOLOGY
Ola Cabs CEO Hemant Bakshi quits, company plans to lay off 10% staff as part of restructuring exercise
The restructuring comes just a few weeks after Ola Cabs initiated preliminary discussions with investment banks for an IPO.
TECHNOLOGY
Change of heart: Indian SaaS firms prefer Dalal Street over Nasdaq for IPOs
From Salesforce to Freshworks, typically SaaS companies have viewed the US market to be a favourable place to list, however with better valuations and growth expectations, the Indian market has attracted some SaaS firms and investors to mull listing in the home country.
