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
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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
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
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.
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
BUSINESS
Northern Arc Capital raises $50 million via NCDs from Dutch bank FMO
Northern Arc will use half the proceeds to serve MSMEs and women entrepreneurs, the debt firm said in a statement.
BUSINESS
B2B e-commerce firm Udaan raises $120 million in convertible debt
The fundraising comes ahead of a planned IPO and gives investors enough time to convert the debt into equity.
BUSINESS
SaaS unicorn Icertis raises $150 million in debt financing from Silicon Valley Bank
Amid a funding crunch, there has been an uptick in alternative funding models like venture debt. Icertis, an enterprise contract management platform, is among the first unicorn to raise debt
BUSINESS
Devtron raises $12 million from Insight Partners
Devtron plans to use the funding to scale its team, drive adoption of its platform and expand into new markets
BUSINESS
Zoho joins ONDC, will help sellers to set up online stores
Zoho's e-commerce platform Zoho Commerce will allow sellers and existing customers to set up online stores and on-board ONDC, the company said in a media statement on Wednesday.
BUSINESS
Khatabook pivots to new monetization model with digital lending offerings
Khatabook has completed a successful digital lending pilot, and it is now available in all major metros and tier-1 cities in India.
BUSINESS
EV maker Ather Energy raises $50 million led by Caladium Investment
As per the company’s filings with the Registrar of Companies (RoC) Caladium owned by GIC Investment has invested Rs 400 crore and Herald invested Rs 64 lakh in Ather Energy.
BUSINESS
Avataar Venture Partners launches $350 million Fund II to back SaaS and B2B tech startups
Avataar’s portfolio includes some of India’s top global SaaS companies such as media software unicorn Amagi and India’s first SaaS IPO and global leader in travel and hospitality RateGain
BUSINESS
Alteria Capital announces first close of third fund at Rs 1,000 crore
The third venture debt fund III, Scheme A which received SEBI’s nod in Q2 2022 will continue to back startups that have already raised VC funding and provide them with a range of speciality debt solutions
