BUSINESS
Scapia raises $23 million led by Elevation Capital, Binny Bansal’s 3State Ventures
The company will use the funds to add more financial services to the platform, including personal loans and insurance, and also hire more talent in product and tech development areas
BUSINESS
Electric Mobility firm Baaz Bikes raises $8 million in Series A round led by BIG Capital
Baaz Bikes plans to utilise the funding towards expansion and to add more battery swapping stations.
BUSINESS
Fintech startup Kiwi raises $13 million in Series A led by Omidyar Network India
The fintech plans to utilise the funding to build its product and technology further and add more talent to its team.
BUSINESS
I would leave it to the individual: Infosys co founder Kris Gopalakrishnan on working 70 hours a week
Gopalakrishnan's words come at a time when Infosys founder NR Narayana Murthy's statement that youngsters should work 70 hours a week stirred controversy among India's netizens.
BUSINESS
VC funding plunges 40% YoY in October to $625 million as downcycle continues
Investors continue to sit on money as they adopt a wait-and-watch approach. However, early-stage remains top priority for many investors.
BUSINESS
PhonePe doubles down on financial services; CEOs appointed for lending, insurance and wealth businesses
PhonePe has also crossed 500 million lifetime registered users on its platform. PhonePe's UPI Total Payments Value (TPV) market share stood at 50.54 percent as of March 2023
BUSINESS
‘Q2 of FY24 will be PB Fintech’s last quarter of losses’, says CEO Yashish Dahiya
PB Fintech reported a consolidated net loss of Rs 21 crore for the September quarter of the current fiscal.
BUSINESS
Uniphore has early-mover advantage as there is secular demand for AI today: CEO Umesh Sachdev
The AI world will have more jobs but it will be different and the existing roles need reskilling, says Sachdev
BUSINESS
Chennai will be the AI hub of India soon, says Uniphore’s CEO Umesh Sachdev
The company has set up its first AI Innovation hub in Chennai and will be adding more workforce in the areas of data science, engineering, AI and research
BUSINESS
Angel One acquires fintech firm DStreet Finance to focus on GenZ engagement
Leading online stock brokers are increasingly focussing on education and content creation through videos especially in vernacular languages to reach younger users as well as users across tier III and IV cities in India.
BUSINESS
Festive season demand drives electric 2W sales to cross 70,000 in October
The overall EV two-wheeler penetration in the market grew 5.1% and Ola Electric maintained its top spot with a market share of 31%.
BUSINESS
Adoption of AI and automation will require 16.2 million Indian workers to upskill by 2027
India’s tech-hub Bengaluru is seeing the highest demand for tech talent specifically in Gen AI and automation, according to the report.
BUSINESS
Freshworks reports a 19% jump in consolidated revenue at $153.6 million, targets $1 billion revenue by 2026
Freshworks' non-GAAP income jumps to $17 million in Q3 as against a loss of $3.1 million last year. The firm is planning to monetise its Freddy AI offerings from Q1 of 2024.
BUSINESS
Vridhi Home Finance raises Rs 150 crore in series A round from Elevation Capital
The Bengaluru-based startup will be expanding its branches within Karnataka, Andhra Pradesh and Telangana in the next 12-18 months
BUSINESS
Indian enterprise SaaS firms adopt novel strategies to survive macroeconomic pressure
One of the largest Indian SaaS players, Zoho, said that it witnessed a very steep demand slowdown in September.
BUSINESS
BharatPe's chief product officer Ankur Jain resigns
This comes at a time when the company is continuing to see some top-level exits within the last few months.
BUSINESS
Rapido pilots cab ride hailing and hyper local delivery
Rival Ola also entered the parcel delivery service segment recently through the launch of 'Ola Parcel'. The parcel delivery space is currently dominated by players like Porter, Swiggy Genie, Uber and Dunzo
BUSINESS
Ola Electric closes Rs 3,200 crore funding round in a mix of debt and equity
The funds raised will be used to expand Ola's EV business and to set up India's first lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu, the firm said in a statement.
BUSINESS
Mobikwik-owned Zaakpay gets RBI's in-principle nod to operate as payment aggregator
The in-principle nod comes two years after Mobikwik filed an initial application with the RBI. In 2021, Mobikwik applied for the PA license for Zaakpay to RBI, however, the same was rejected and the firm re-applied in October 2022
BUSINESS
Zerodha rival Groww turns profitable, revenue jumps 266% to Rs 1,277 crore in FY23
In FY23, the Bengaluru-based fintech diversified its offerings like lending and UPI payments within its app.
BUSINESS
BharatPe clocks its highest-ever gross revenue in August 2023 at $23.5 million, ARR zooms to $282 million
The pick up in growth will not only give a fillip to its plans for a public listing but also comes as a relief, after the high drama that roiled the startup in the last year.
BUSINESS
Paytm to add 1.5 million PoS devices every quarter, bets big on merchant lending
As of September 2023, Paytm has a merchant base of around 3.8 crore and merchant paying subscription for devices has reached 92 Lakh an increase of 44 Lakh YoY and 14 Lakh QoQ.
BUSINESS
Ola dangles Rs 70K monthly earnings for riders in push to expand e-bike taxi service
Ola is scaling up e-bike taxi operations in Bengaluru even as it waits for a licence from the Karnataka transport department.
BUSINESS
Google Pay launches consumer and merchant lending products, enables credit on UPI
The company said that it is collaborating with partners in the financial ecosystem, including banks and NBFCs, to create products aimed at addressing the credit gap in India.
