BUSINESS
Russia-Ukraine conflict | Infosys has no plans to do business with Russian clients: CEO Salil Parekh
The company has started transitioning all of its work from its centres in Russia, where it employs less than 100 people, to the centres outside Russia.
BUSINESS
Infosys grows faster than TCS third year in a row, posts 20.3% growth in FY22
This is also the highest growth the company has registered in close to a decade. Infosys registered a 25 percent growth in FY11.
BUSINESS
Tata Neu to unveil improved app after clocking over one million sign-ups and downloads within days of launch
Tata Neu is a key part of the 154-year-old Tata Group's plan to take on established giants such as Amazon, Walmart's Flipkart, and Jio Platforms.
BUSINESS
EV fire incidents a wake-up call for the industry, says Hero Electric's Naveen Munjal
The government may now get stricter with the battery standards, how quickly one can launch the product and get it out in the market, Munjal tells Moneycontrol
BUSINESS
Exclusive | Ola CEO Bhavish Aggarwal to focus on engineering and product, GR Arun Kumar to lead operations
Ola was last valued at $7.3 billion when it raised $139 million in its Series J round.
BUSINESS
Ola board approves buyout of Avail Finance, promoted by founder Bhavish Aggarwal's brother; Ankush Aggarwal likely to lead Ola Financial
The merger comes as the SoftBank-backed firm, which was planning to list on the public markets this year, now plans to raise a new round of funding at a lower valuation, signifying a sharp reversal in fortune for startups, after a record 2021 that saw sky-high valuations in the public and private markets
BUSINESS
Elevation Capital raises $670 million, its largest India fund
Elevation Capital has backed the likes of Swiggy, Meesho, Paytm and Unacademy.
BUSINESS
My competition is with users’ time spent on mobile phones: DailyHunt founder Virendra Gupta
VerSe cofounder Virendra Gupta says the biggest challenge for a short-video platform is to read the mind of the consumer and give them the content they want. He says the short-video space is a competitive and big space and, in an oblique reference to the ShareChat-MX TakaTak deal, questions the consolidation of two loss-making businesses.
BUSINESS
Dailyhunt parent VerSe Innovation raises a record $805 million at a valuation of $5 billion
The startup will use the money to strengthen its AI/ML capabilities and invest in new efforts such as live streaming and Web 3.0, giving it ammunition to battle local rivals such as ShareChat and global competitors such as Instagram and YouTube.
BUSINESS
Exclusive: Zomato may not need CCI nod to merge Blinkit's India ops, will use 'De Minimis' exemption
Moneycontrol learns that Zomato may not need CCI's nod to acquire online grocer Blinkit. Both parties have already signed a preliminary term sheet, and the next step now is to sign a definitive agreement
BUSINESS
EXCLUSIVE | Trell exits AppsForBharat, sells 10% stake to Mirae Asset and MSANovo
AppsforBharat was founded by Prashant Sachan, one of the co-founders of Trell.
BUSINESS
Zoho's Sridhar Vembu, Zerodha's Nithin Kamath warn of tough times ahead for economy, startups
Zoho's Sridhar Vembu and Zerodha's Nithin Kamath, who run bootstrapped ventures, spoke to Moneycontrol on the 25th episode of the show, Moneycontrol Masterclass.
BUSINESS
MamaEarth awarded as the Young Turks Startup of the year at IBLA 2022
Mamaearth became the first unicorn of 2022 when its parent Honasa Consumer raised $52 million on January 1 in a round led by Sequoia, at a valuation of $1.2 billion
BUSINESS
Trell mulls sale of its stake in AppsForBharat
Trell was founded in 2016 by Pulkit Agrawal, Arun Lodhi, Prashant Sachan, and Bimal Kartheek Rebba. It is a community-based social network to discuss and exchange lifestyle trends.
INDIA
IPO-bound Oyo files request for exemption with SEBI amid delay in listing
The request is under process according to the posting on SEBI's website, which did not provide details on the type of exemption sought.
BUSINESS
Brother to the rescue: Ola to buy founder Bhavish Aggarwal brother's firm Avail Finance for $50 million
A share swap deal, the merger comes even as the SoftBank-backed firm, which was planning to list on the public market this year, now plans to raise a new round of funding at a lower valuation
BUSINESS
Oxyzo Financial Services raises $200 million Series A at a valuation of $1 billion, enters unicorn club
Kalra becomes one of the rare Indian female founders of a profitable fintech unicorn and, together with husband Asish Mohapatra, makes a rare couple behind the making of two unicorns
BUSINESS
SoftBank-backed Ola mulls down round amid delay in listing plans
Ola is paying interest on debt that it is yet to receive, due to delays in regulatory approvals.
BUSINESS
Exclusive | Groww in talks to raise $150 million at a valuation of $4-$5 billion
Groww is said to have received interest from sovereign wealth funds of Abu Dhabi and Qatar, besides the Canadian Pension Plan Investment Board (CPPIB).
STARTUP
Rs 2,000 in co-founder's home, no unaccounted cash, assets at any location: What Income Tax sleuths found after a 3-day raid on Infra.Market
The department is also learned to have conducted similar searches on the offices and residences of another B2B unicorn, Zetwerk, within a day of its searches at Infra.Market
BUSINESS
Pure aggression: Inside Gaurav Munjal and Unacademy’s quest for growth
Gaurav Munjal, the maverick founder of Unacademy, is building a company using unconventional methods. Moneycontrol profiles one of India's most important and divisive entrepreneurs with tons of never-before-reported details
BUSINESS
National Payments Corp prepares on-device wallet to debut UPI Lite for small offline transactions
UPI Lite for transactions up to Rs 200 will happen in two phases
BUSINESS
Paytm says SoftBank's Munish Varma steps down from board
The action is consistent with Softbank's move globally—it steps away from board positions after its portfolio companies get listed.
BUSINESS
Zomato to extend $150-million loan to cash-strapped Blinkit
Blinkit last raised $100 million from Zomato in a round which gave the company a unicorn status.
