TECHNOLOGY
OrbitShift raises $7 million in seed funding led by Peak XV’s Surge and Stellaris Venture Partners
OrbitShift plans to utilize the funding to expand its customer base and continue building newer AI based products for the sales ecosystem.
TECHNOLOGY
Indian startups ride on rising demand for voice-based conversational AI use cases
Startups like Velocity, a revenue-based financing platform, are moving beyond its core business of lending to launch a conversational AI product specifically made for banks and NBFCs.
TECHNOLOGY
For Freshworks to scale and become a global company, things will have to change: CEO Dennis Woodside
Woodside, who took over the reins as CEO from founder Girish Mathrubootham a few weeks ago, said he is used to working in founder-driven companies. He said preserving company culture is one of his top priorities
TECHNOLOGY
Ethereal Machines raises $13 million led by Peak XV Partners, Steadview Capital
The firm plans to use the funds to set a smart factory adjacent to the upcoming Foxconn facility in Karnataka and to hire software and AI engineers
TECHNOLOGY
Groww's active user base crosses 1 crore milestone in May
Rival Zerodha has 75 lakh active users, Angel One 64.86 lakh and Upstox 25.91 lakh
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.
