BUSINESS
Former Cognizant CEO Francisco D'Souza teams up with industry veterans to launch Recognize, $1.3 Billion Growth Fund
Recognize has raised approximately $1.3 billion for its inaugural fund and has closed three platform investments with over 4,000 employees.
BUSINESS
TCS hits $25 billion in annual revenue, promotes 1.1 lakh employees
The Tata Group company plans to promote 40,000 more employees in the fourth quarter. The company added 28,238 during the third quarter, taking the total employee strength to 556,986. TCS had added 19690 employees in the previous quarter.
BUSINESS
Close to 5.8 crore returns filed as of December 31 on the new I-T portal: Infosys CEO Salil Parekh
Infosys was awarded an Rs 4,200-crore contract in 2019 to develop the portal to replace the old one to reduce the processing time from 63 days to one day. The portal was launched on June 7, 2021 amid peak tax season, and things started going downhill from the word go.
BUSINESS
Infosys to hire 55,000 graduates this fiscal
The software major reported third-quarter earnings that came ahead of consensus estimates.
BUSINESS
Curefoods raises $62 million from Iron Pillar, Chiratae, Binny Bansal, others
The cloud kitchen startup is likely valued in the range of $250-$400 million, according to industry sources.
BUSINESS
EXCLUSIVE: Ola co-founder Ankit Bhati launches new startup Amnic with former colleagues, ropes in Sequoia as investor
The newly minted startup Amnic will operate in the DevOps (software development and IT operations) toolchain space, where it will help businesses maintain a software development pipeline and make the process easier.
BUSINESS
Tata Consultancy Services renews contract for Passport Seva Programme with government
While TCS did not disclose the value of the renewed deal, the contract could be worth Rs 2,000 crore according to an industry analyst.
BUSINESS
TVS Capital Funds to lead next round in Google-backed Open at a valuation of $1 billion
The $100 million fundraise is a mix of primary and secondary funding and will also see participation from existing investors.
BUSINESS
Want to build an independent business and list in 3 years: Dunzo CEO Kabeer Biswas
Biswas believes free but slower deliveries will be the endpoint for quick commerce in India.
BUSINESS
Curefoods buys out 5 more food brands to double down on brand play
The company currently has more than 20 brands in its portfolio and is looking to have 35-40 in its stable by the end of 2022
BUSINESS
Zomato, Swiggy held talks to buy out Y Combinator-backed Zepto
Zepto was started by 19-year olds Aadit Palicha and Kaivalya Vohra, who dropped out of a computer science engineering program at Stanford University
TRENDS
Swiggy clocks a lifetime high of 9,500 orders per minute on New Year's Eve, crosses two million orders mark
Further, Swiggy Instamart recorded 63% more orders and a 74% increase in GMV (gross merchanise value) compared to the rest of the month, beating its own previous Christmas day peak.
BUSINESS
Mamaearth is the first unicorn of 2022, raises $52 million at valuation of $1.2 billion
The baby and skincare products company Mamaearth's parent Honasa Consumer is the first unicorn of the year 2022. It will use the money to expand to overseas markets and double down on its plans to become a house of brands
TRENDS
Swiggy clocks over 9,000 orders per minute, Zomato crosses 7,000 orders per minute on New Year's Eve
UPI payments platform came under pressure as online food and grocery platforms clocked record orders per minute, with many users complaining about failed transactions.
BUSINESS
The A-Z of Tech and Startups in 2021: A Glossary of 26 trends, names, events that became part of our vocabulary this year
As we prepare to ring in 2022, Moneycontrol's Tech and Startup team put together a handy glossary of names, themes, and trends that became part of our vocabulary in 2021.
BUSINESS
TCS sees business as pandemic opens up opportunities in aviation space
TCS signed a multi-year, multi-million dollar deal with the Hong Kong-based Plaza Premium Group (PPG) to transform the airport experience
INDIA
School ID cards of children will be accepted for vaccination: CoWIN's RS Sharma
RS Sharma is the CEO of the National Authority and chairperson of the empowered committee for CoWin.
BUSINESS
Nexus VP co-founder Naren Gupta, pioneer of venture capital in India, passes away
He is survived by his wife, Vinita Gupta, and two daughters.
BUSINESS
Razorpay raises $375 mn, valuation vaults from $1 bn to $7.5 bn in 14 months
This round is more than all of Razorpay’s previous funding rounds put together. The startup will use the funds for acquisition in the B2B SaaS space and scale up its neo banking arm RazorpayX.
BUSINESS
Govt assures top investors on Direct Overseas Listing, expresses concerns on startups flipping abroad
The Government's assurance on overseas listing comes months after some of India's best-known startup founders and investors had written to the Prime Minister's Office (PMO) urging the Centre to allow startups to list overseas
BUSINESS
God has given me so much. I want to serve His children: Sudha Murty, Chairperson, Infosys Foundation
Moneycontrol caught up with Sudha Murty, who will retire from Infosys’ philanthropic arm this month after heading it for 25 years. She outlines her plans to work with the family’s Murty foundation and pursue her other interests.
BUSINESS
Exclusive | Infosys does away with COO role after UB Pravin Rao, appoints co heads of delivery, CTO
Rao, who is retiring in December, joined Infosys in 1986. He has held a number of senior leadership roles including Interim Chief Executive Officer and Managing Director, Head of Infrastructure Management Services, Delivery Head for Europe, and Head of Retail, Consumer Packaged Goods, Logistics and Life Sciences.
BUSINESS
We have a bias to build, will look at strategic buys but not financial investments: Swiggy founder & CEO Sriharsha Majety
"You will see us do a balanced strategy of acquisition plus investment. But I think we do have a builders bias."
BUSINESS
Swiggy to invest $700 million in Instamart, clocks one million weekly grocery orders
Swiggy's move to commit a huge investment to Instamart comes at a time when there is heightened competition in the so-called quick commerce space in India- where startups are promising delivery of essentials in under an hour.
