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
BUSINESS
Relief for Ola and Uber as Karnataka High Court stays auto ban
This interim order states that no-coercive action like the present blanket ban on plying autos should be taken against the aggregators.
BUSINESS
BPCL to set up EV fast charging stations in two southern corridors, plans to launch 7,000 more stations by 2027
With the announcement of the launch, BPCL also said that the company will now focus on new business segments and converting its 7,000 conventional retail outlets into energy stations providing multiple fueling options, which will also include EV charging facility, in the medium to long term.
BUSINESS
Layoffs will be the absolute last thing at Zoho, it destroys employee loyalty: CEO Sridhar Vembu
Zoho’s Vembu stressed the importance of building long-term goals to sustain in tough economic situations.
BUSINESS
Ola, Uber take auto ban row to Karnataka High Court
Both companies contended that an autorickshaw is included under the definition of a taxi under the rules as it means a motor cab having a seating capacity not exceeding six passengers, excluding the driver, with a public service permit on contract.
BUSINESS
India welcomes Tesla and other EV investments as long as the vehicles are made in India: Nitin Gadkari
"The hydrogen-fuelled cars are the future of India and we can get green hydrogen from multiple ways like sewage water, and municipal waste…We will also export green hydrogen to the world and that is the dream,” said Nitin Gadkari
BUSINESS
Indian startup funding hits two-year low in September quarter: PwC
Decline has been the least in early-stage deals which made up around 21% of the total funding value
BUSINESS
App-based auto ban in Karnataka leaves drivers confused, citizens frustrated
The state’s transport department has termed Ola, Uber and Rapido autos ‘Illegal’ and issued a directive to the companies to apply for a separate three-wheeler licence. But with some drivers being told it's "business as usual" and others asking passengers to cancel bookings, confusion prevails.
BUSINESS
Ola, Uber and Rapido-run autos continue services despite ban in Karnataka
In an official statement, Uber said that the company is ready to work with the government to continue its three-wheeler auto services.
BUSINESS
LeadSquared FY22 revenue doubles to Rs 193.5 crore but losses widen to Rs 62 crore
The company's expenses shot up to around Rs 262.3 crore from Rs 113.3 crore in the previous year. Employee benefits accounted for around 54% of the total expenses
BUSINESS
Nisarg Shah-led VC firm Kettleborough closes maiden fund at $5 million
So far, through this maiden Fund, Kettleborough has deployed capital in five companies including Zippmat with Matrix and Zephyr Peacock, Zocket with Kalaari, and Bytelearn with Leo and Chiratae, and is closing two more transactions with Infoedge and Kae in the coming month, the company said in a media statement.
BUSINESS
Co-living platform Isthara bags $10 million funding led by Dubai-based Eagle Investments
The startup plans to deploy the new funds to foray into the business-to-consumer (B2C) retail food court space and expand its presence in the co-living sector
BUSINESS
Deeptech EV startup Vecmocon raises $5.2 million funding led by Tiger Global and Blume Ventures
Vecmocon was founded in 2016 by Peeyush Asati, Shivam Wankhede, and Adarshkumar B, alumni of IIT Kanpur, IIT Delhi, and ISB respectively
BUSINESS
Ola, Uber, Rapido will need separate three-wheeler licences to run autos on platforms, says K'taka Transport Dept
The transport commissioner clarified that if the autos continue to run or be allowed to book by passengers, the company will be charged a fine of Rs 5,000 per vehicle, per day, as first offense.
BUSINESS
Ola, Uber and Rapido reduce base fares in Karnataka after state govt intervenes
The decision to increase the base fare to Rs 60 has been reversed by the auto and cab aggregators.
BUSINESS
Headcount management startup TeamOhana raises $4 million in seed funding
Founded in 2021 by Tushar Makhija and Baishampayan Ghose helps companies to plan and manage headcount. The platform offers products to help company's personnel planning, empowering all teams to collaborate and execute strategic hiring plans on time and within budget.
BUSINESS
Karnataka stops services of Uber, Ola, Rapido over auto ride charges
The department has called the auto services run by the cab aggregators ‘illegal’ under On-Demand Transportation Technology Act 2016.
BUSINESS
Robotics startup Miko acquires AI firm Square Off
With the acquisition, Miko is planning to expand its product line beyond the AI robot companions that it has developed
BUSINESS
Billing automation firm Zenskar raises $3.5 Mn led by Bessemer
The firm plans to utlise the funds towards to hiring and upskilling engineering talent, accelerating product development and advancing its go-to-market initiatives
