BUSINESS
Chargebee raises $125 Mn at a valuation of $1.4 Bn, enters unicorn club
The latest round of fundraising makes Chargebee the 11th unicorn to emerge from India in just four months of 2021, compared to 11 unicorns in all of 2020, underscoring the high investor interest.
TRENDS
Co-Win Platform Ready For New Govt Vaccination Drive From May 1: RS Sharma
RS Sharma, CEO, National Health Authority, says people will be able to register as per the new vaccination drive that allows all people aged 18 and above to get vaccine doses.
BUSINESS
Druva raises $147 million at a valuation of over $2 billion. Here's why it chose not to raise a higher sum
The accelerated shift to digital post-pandemic has helped Druva as it saw rising volumes of stored, rapid adoption of cloud, and deployment of SaaS applications.
BUSINESS
We will have an abundant supply of Remdesivir by the second week of May: Biocon chief Kiran Mazumdar Shaw
Biocon Executive Chairperson Kiran Mazumdar Shaw says scarcity of critical anti-COVID-19 drugs Remdesivir and Itolizumab will end in 4-6 weeks as suppliers like her own company ramp up output that fell when the pandemic was receding. She said market pricing of vaccines is a must for the much-needed acceleration in inoculation.
BUSINESS
Double-digit growth with profitability is the focus in FY22: Mindtree CEO
The strategy is in execution mode right now and we are seeing very good traction in terms of the deals that we are winning — not only new logos, but also in existing accounts, where we are able to mine those accounts by cross-selling and upselling, says Debashis Chatterjee, CEO & Managing Director, Mindtree.
BUSINESS
Razorpay raises $160 million, valuation triples to $3 billion in six months
Razorpay will use the funding to take its digital payments offering to South East Asia, make acquisitions and build out its neo-banking platform.
BUSINESS
Growth is the biggest lever to protect margins: Wipro CFO Jatin Dalal
In a wide-ranging interview with Moneycontrol, the Wipro CFO spoke about the company’s growth trajectory, its renewed thrust on consulting, plans to combat margin pressure, and the recruitment outlook.
BUSINESS
Sachin Bansal is a step closer to realising his banking dreams
Chaitanya India Fin Credit Private Limited, which Bansal acquired last year, is among the applicants for a Universal Bank Licence, according to the list of applicants released by the RBI.
BUSINESS
Softbank founder Masayoshi Son picks Swiggy over Zomato, to invest $450-$500 million
The investment from SoftBank will come on top of $800 million series J round that Swiggy recently closed, with Falcon Edge, Amansa, Think Investments, Carmignac and Goldman Sachs at a valuation of $5 billion.
BUSINESS
TCS likely to cross 5 lakh-employee mark in the next three months
While the company did not give hiring guidance for the first quarter, the management said it would hire over 40,000 freshers in FY 2021-22, a number similar to the previous year.
BUSINESS
Here is why IT major TCS is not worried about the war for talent
Factors like huge emphasis on building talent in-house and low attrition rates could help the firm in addressing talent issues in the tech landscape.
TRENDS
Anxious about going out into the world? You're not alone, but there's help
Make a list of your needs and assets to prioritize next steps, like visiting a health center or a virtual therapist, or carry note cards with stress reduction tips. Remember that different things work for different people.
BUSINESS
Exclusive | Getting ready for IPO, but no timeline yet: Pine Labs CEO Amrish Rau
Pine Labs that is backed by Mastercard, Sequoia, Actis Capital, PayPal and Temasek, has been in touch with law firms, auditors and bankers for a year but it is not yet in a position to say when it would go for the IPO.
BUSINESS
Groww raises $83 million at a valuation of over $1 billion, enters unicorn club
India has seen eight unicorns in the first four months of 2021, compared to 11 in 2020; accelerated digitisation during pandemic has triggered rapid growth in this space.
BUSINESS
PharmEasy parent API Holdings raises $350 million at $1.5 billion valuation, enters unicorn club
API Holdings is the third startup to join the billion-dollar club this week after Meesho and CRED.
BUSINESS
Cred turns unicorn, raises $215 million at a valuation of $2.2 billion
The company, which bought back employee stock options worth $1.2 million during its Series C round of funding, has announced an ESOP buyback worth $5 million with the current round.
BUSINESS
Exclusive | Meesho CEO Vidit Aatrey: Will focus only on India for next few years
The social commerce firm wants to focus only on India- a change in strategy- and enable 100 million small businesses to come online. The Facebook-backed startup also wants to be platform agnostic and be wherever the user goes, not just WhatsApp or Instagram,
BUSINESS
Meesho raises $300 million led by SoftBank, enters unicorn club
Meesho, the Bengaluru-based social commerce startup, helps small businesses and individuals become sellers on social platforms such as WhatsApp, Facebook and Instagram.
BUSINESS
Moneycontrol on Clubhouse: Future of Digital Payments in India
With over 200 million active digital payment users of in India, UPI transactions crossed 5 lakh crore in value for the month of March 2021.
BUSINESS
UPI transactions touch new high, cross Rs 5 lakh crore in March
UPI, which has been clocking over two billion transactions a month since late in 2020, has ambitions of touching two billion transactions a day in the next few years.
BUSINESS
Exclusive | Chinese investors, angels eye exit from Cred in secondary share sale
After social media app Koo and fintech firm Krazybee, Chinese investors in Kunal Shah-led Cred are selling their entire stake
BUSINESS
Wipro hires former PayPal, Walmart executive Subha Tatavarti as chief technology officer
US-based Subha Tatavarti worked at PayPal for nearly a decade before moving on to Walmart in 2020
BUSINESS
Level 1, Level 2, Level 3: How NPCI plans to cap market share of apps like PhonePe and Google Pay
The move is aimed at providing an opportunity for multiple players and mitigate systemic risks that could arise out of a few dominating the space.
BUSINESS
SEBI clarifies on definition of startup, eases norms for AIFs
The market regulator has also allowed AIFs to simultaneously invest in units of other AIFs and directly in the securities of investee companies subject to certain conditions.
