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
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
