BUSINESS
Apna becomes India’s fastest unicorn with $100 million from Tiger Global
Apna becomes India's 27th unicorn of 2021 in a record year for fundraising.
BUSINESS
Exclusive: Jitendra Gupta’s Jupiter neobank raises money from top fintech VC QED
The funding round supplements the $45 million Jupiter recently raised
BUSINESS
Behind the scenes: Why Udaan finally has a CEO
Harsh business realities forced a change at the B2B startup, which had refused to appoint a chief and had maintained that it preferred the power of decentralised control by the three cofounders.
BUSINESS
Exclusive | Purplle eyes $500 million valuation amid Nykaa IPO
Norwest Venture Partners, Kedaara Capital, Venturi Partners and South Korea’s Mirae are lining up to invest in Purplle, while Sequoia India will double down on its stake
BUSINESS
TechHalli rivals Silicon Valley: Indian engineers earning as much as peers in US
Many startup founders say it is more expensive to hire tech talent in cities like Bengaluru, than in the US. Why not hire from the US? Not enough talents. As a Rs 1-cr package becomes the new normal at many levels in the IT sector, even youngsters turning down packages of Rs 40-45 lakh. They know they won’t remain unemployed for long.
BUSINESS
Interview: Silicon Valley investor busts myths about risk-taking
Silicon Valley author and investor Sukhinder Singh Cassidy breaks down career risk-taking, negotiating, workplace biases and why her marriage is sometimes a negotiation, in an interview with Moneycontrol
BUSINESS
Explained | PayU-BillDesk deal worth $4.7 billion: Who gains and how
With PayU and BillDesk operating complementing businesses in India, the acquisition will help PayU address the gaps in its portfolio. For BillDesk founders, a seemingly expensive valuation is a great outcome given the stock markets would have valued them even higher.
BUSINESS
In swift turn of events, founders now hold the aces against investors at startups
Amid an epic funding boom, startup founders are consolidating their power at startups, using legal terms and clauses to their hilt, exercising control and securing their futures, sometimes irrespective of the future of their investors or the company itself. Moneycontrol takes a deep look at the legal terms being used, the swift turn in events, risks and the shifting power balance.
BUSINESS
Decoding IPO-bound Freshworks in 5 charts
Girish Mathrubootham's enterprise software company, Freshworks could be valued at as much as $10 billion in its US IPO
BUSINESS
Indian startups race past $20 billion funding in record year
India has become the preferred investment destination for various reasons – low-interest rates in the US, an expanding online consumer base, a listing of startups and China’s crackdown on tech companies
BUSINESS
Exclusive | Cure.fit’s Ankit Nagori to raise Rs 100 crore for Thrasio-like food roll-up play
Nagori plans to acquire up-and-coming online food brands listed on delivery platforms Swiggy and Zomato. This is the approach followed by US-based startup Thrasio, which acquires top-rated sellers on Amazon and helps them turbocharge growth
BUSINESS
Zetwerk turns unicorn with $150 million led by D1 Capital, valued at $1.3 billion
Zetwerk, which helps businesses convert designs for manufacturing tools into physical products said, with a strong order book of Rs 5,000 crore currently, it aims to quadruple revenue in FY22 from Rs 949 crore in FY21
BUSINESS
Vedantu to turn unicorn with $100m funding
An Asian private equity fund is expected to invest $40 million. The deal will make Vedantu India’s fifth online education unicorn. It last raised $100 million, led by Coatue Management in July 2020, valuing it at $600 million.
BUSINESS
Kunal Shah's CRED to launch P2P lending feature Mint, denies funding talks
Shah expects that demand for his newest product will severely overshoot supply. He also denied being in discussions with Silicon Valley top fund Andreessen Horowitz for his next funding round.
BUSINESS
Exclusive: Temasek-owned InnoVen Capital eyes independent debt fund, change in structure
InnoVen is looking to raise about $200 million for the fund, of which it's co-owner Temasek could invest more than half, while other large limited partners could bring in the rest. The new structure could see InnoVen India, which currently operates as an NBFC, registered at a Category 2 Alternative Investment Fund
BUSINESS
API Platform Postman raises $225 million at valuation of $5.6 billion, becomes most valued SaaS startup
The Bengaluru and San Francisco-based firm has now raised more than $430 million across four rounds
BUSINESS
Exclusive: Eruditus early investor Bertelsmann makes 40x returns in part stake sale
The German media conglomerate sells about 3 percent stake to new investors SoftBank, Accel and others, gaining $110 million in cash. It still holds over 10% in the SoftBank-funded company, which was valued at $3.2 billion.
BUSINESS
The more unsexy a business, the more profitable it is: OfBusiness' Asish Mohapatra's motto
Why is an industrial goods and lending firm one of India's hottest startups today? Why does OfBusiness hire only freshers, that too from outside top colleges? And when the lines between work and life are blurred, how do you avoid a toxic work culture? Asish Mohapatra, co-founder and CEO of OfBusiness breaks down his work and life's philosophy, with unusual candor and quips in a detailed interview.
BUSINESS
Book Review: Pilani Pioneers shows joy, hardship of business in India
These profiles, of 25 BITS Pilani Graduates and their career successes, has many interesting anecdotes about college life, building a business and career in India
BUSINESS
Dailyhunt parent raises $450m from Carlyle, others, valuation doubles
Ban on Chinese apps led by TikTok last year lead to a swathe of Indian equivalents launching similar short-video platforms, ShareChat’s Moj and Dailyhunt’s Josh among them. Josh currently has over 115 monthly active users and 56 million daily active users.
BUSINESS
Dream Sports launches $250 million fund to invest in startups
It will invest in startups which can generate $100m revenue in five years.
BUSINESS
Stellaris Venture Partners closes second fund at $225 million
Stellaris, an investor in startups such as consumer brand Mamaearth and software firm Whatfix, plans to make 25-30 investments in seed and Series A rounds of internet startups from this fund.
BUSINESS
A Swiggy IPO could deliver good returns, SoftBank’s Masayoshi Son says
The SoftBank CEO's presentation also revealed that Swiggy has over 20 million monthly users, and does 1.5 million orders a day as of June this year.
BUSINESS
Exclusive: Sixth Sense Ventures eyes Rs 1,500 crore fund
It sits between venture capital and private equity, but Sixth Sense Ventures does not stick only to early-stage firms
