BUSINESS
Ather expects to double market share with the launch of 450S electric scooter
Ather makes its foray into the 125cc space with the launch of the 450S, which comes with a starting price of Rs 1,29,999
BUSINESS
Ola Electric's FY22 loss widens to Rs 784 crore, consolidated revenue jumps to Rs 373 crore
The company saw its expenses zoom to Rs 1,240 crore registering an increase of 306 per cent year-on-year (YoY). The company’s employee benefit expense amounted to Rs 282 crore in FY22 up from Rs 197 crore in FY21
BUSINESS
No new SaaS unicorns so far in 2023 as funding winter lingers, says Bessemer report
The report also stated that by 2030, India’s SaaS market size is poised to grow to around $50 billion in Annual Recurring Revenue (ARR). The market size is presently at around $13-$25 billion.
BUSINESS
Stable Money raises $5 million in seed funding led by Matrix Partners India and Lightspeed
Founded in 2022, Stable Money is cofounded by Saurabh Jain and Harish Reddy. Jain left Sachin Bansal-backed Navi Mutual Funds in 2022 to start Stable Money.
BUSINESS
Freshworks sees churn in top level as HR, marketing chiefs call it quits
The company's co-founder and Chief Technology Officer (CTO) Shan Krishnaswamy left the company in September 2022 amid a management rejig.
BUSINESS
Bengaluru's Peenya industrial region is now a hotbed for manufacturing startups
Bengaluru, which is home to about 160-200 manufacturing startups, has seen more than 20 of them mushroom in the industrial region of Peenya, with many others poised to shift here.
BUSINESS
Freshworks’ Q2 revenue up 19% YoY to $145 million, expects full-year operating profit of $28 million
The company's net loss came down to $35.04 million in Q2 of 2023 as against a loss of $68.16 reported during the same quarter last year. It expects its overall revenues in 2023 to be in the range of $587 million to $595 million.
BUSINESS
Fintech firm PayMate plans to raise pre-IPO funding round, to turn Ebitda positive by Q3FY24
The firm planned to raise a fresh issue of Rs 1,125 crore and an offer of sale of up to Rs 375 crore from its existing shareholders and promoters. The firm plans to raise not more than $30 million from the pre-IPO round as per regulations.
BUSINESS
Indian Gen-AI startups more than double in 2023 raising $590 million in funding
India's SaaS ecosystem is likely yo generate more than $50 billion of revenue in 2030 with an enterprise value of $0.5 - $1 trillion.
BUSINESS
Together Fund launches Fund II with total corpus of $150 million
Together’s Fund II to focus on artificial intelligence-based startups, to invest in up to 25 early-stage firms
BUSINESS
Razorpay launches export account for SME merchants to receive international payments
Revenues from Razorpay's international payments division contribute about 20 percent of its overall payments revenue and the firm expects to cover over 1-2 lakh businesses by end of 2025.
BUSINESS
Indian startups under high pressure, causing some to fail: Zoho's Sridhar Vembu
In the past year, a slew well-funded start-ups such as Mojocare, BharatPe, Zilingo, Trell, and GoMechanic were caught up in financial misreporting and governance lapses.
BUSINESS
Zoho's big hardware bet: To manufacture servers, medical equipment, AR devices
Zoho's plans to make data centre devices like servers to cut internal costs and then to eventually take it to the market said Sridhar Vembu co-founder and Chief Executive Officer of Zoho
BUSINESS
AI will replace roles, not employees: Zoho CEO Sridhar Vembu
The AI hype wave is settling, making the technology useful for enterprises has now begun, Vembu said.
BUSINESS
UPI to enter North America, other Middle-Eastern countries soon: NIPL CEO Ritesh Shukla
In different countries NPCI’s NIPL has different strategic partnerships, Shukla said. In some countries there is focus on infrastructure building and in others it is focusing on the interoperability build.
BUSINESS
Fintech startup Easebuzz doubles revenue to Rs 236 crore in FY23 as demand surges
Since the end of last year, Easebuzz has witnessed jump in its services after the RBI directed some of its competitors like Razorpay, and Cashfree to pause on-boarding new merchants
BUSINESS
India’s UPI enters France: Who stands to benefit and what’s ahead
While UPI going global will accelerate cross-border transactions in a faster and easier way, experts also say that adoption of UPI globally will further accelerate the growth of fintechs and their penetration globally
BUSINESS
SaaS firm Zluri raises $20 million funding led by Lightspeed Venture Partners
Zluri will utilise the funding to expand generative artificial intelligence (AI) capabilities in enterprise SaaSOps
BUSINESS
Fintechs jump onto digital lending frenzy as disbursement volumes double in FY23
Lending-focused companies dominated startup funding this year, attracting approximately a third of all investments. Paytm and BharatPe have also bolstered their management leadership in the lending verticals, as a substantial portion of their revenue stems from lending operations
BUSINESS
PhonePe enters PoS device market to take on Pine Labs, Paytm and Razorpay
The PoS device market is presently dominated by players like Pine Labs, Razorpay and Paytm. As per RBI's data available as of May 2023, there are around 79 lakh PoS devices across India.
BUSINESS
Plum Insurance forays into business insurance space, targets startups and SMEs
The Tiger Global-backed firm is planning to clock a revenue of at least Rs 10,000 crores and take a time frame of three to five years before venturing to other countries
BUSINESS
Indian SaaS sector funding for H1 of 2023 plunges 81% year-on-year
Many investors are re-evaluating their bets and experts say that the time taken to complete deals has become longer.
BUSINESS
Uber India seeks support of Bengaluru users to legalise bike taxis
Uber has reached out to its users through an email campaign to sign a petition to lift the ban on bike taxis through the newly launched 'Brand Bengaluru's' website
BUSINESS
Flipkart veteran Anil Goteti’s Scapia raises $9 million led by Matrix Partners
The Bengaluru-headquartered Scapia was in stealth mode over the last year and was launched on June 15
