BUSINESS
Software and SaaS prices will come down, we are prepared for that world: Zoho CEO Sridhar Vembu
Zoho which is presently betting big on AI has already deployed several smaller models in enterprises. The firm's CEO also said that India needs to invest in our own foundational models in a cost-efficient manner.
BUSINESS
Curefoods in talks to raise $40 million in Series D round of funding, eyes IPO in 18 months
Existing backers such as Flipkart co-founder Binny Bansal are expected to participate in the new round in which Curefit Healthcare Private Limited is expected to sell its remaining 2 percent stake and exit the company
TECHNOLOGY
Mukesh Bansal’s Nurix AI bags $27.5 mn from General Catalyst, Accel
Nurix AI, which builds custom AI agents for enterprises, is the latest firm incubated by Mukesh Bansal's venture studio Meraki Labs
BUSINESS
Swiggy IPO filing likely this weekend, say sources
Swiggy recently upsized its IPO to $1.4 billion, amid intensifying competition in the online grocery delivery space, where its platform Instamart competes with the likes of Zomato-owned Blinkit, Zepto and Tata-owned BigBasket
BUSINESS
Will be profitable by 2025, a higher priority than IPO: Tekion CEO Jay Vijayan
While Tekion’s operations have been successful in the US and Europe, the company is yet to enter the Indian market. The high cost of cloud infrastructure in India has slowed down plans for the company.
BUSINESS
Madhuri Dixit goes dhak dhak for Swiggy, snaps up shares ahead of IPO
Dixit paid Rs 345 for each share of Swiggy, a second person aware of the developments told Moneycontrol.
BUSINESS
Rapido to switch to all-electric bike-taxi fleet in Delhi by next year
Rapido is also entering the quick commerce delivery segment for hyperlocal deliveries and has recently gone live with Pincode and KPN Farm Fresh
BUSINESS
IPO-bound Infra.Market in talks to raise $150 million from existing backers like Tiger Global, new investors
This will be the company's last private market fundraise ahead of its IPO. Infra.Market is likely to file its draft red herring prospectus in December, Moneycontrol has learnt
BUSINESS
Finova Capital in talks to raise Rs 800 crore from Avataar Venture, Madison India Capital and Sofina
In FY24, the Jaipur-based NBFC , which focuses on MSMEs, recorded a 60 percent jump in revenue at Rs 530 crore and 71 percent rise in profit after tax at Rs 151.5 crore
BUSINESS
Byju's auditor BDO resigns after seeking forensic audit, founder Raveendran alleges blackmail tactics
In a letter to Byju's board, which only includes the founder's family currently, BDO has however said the company lacked transparency, a sentiment even previous auditors have highlighted.
BUSINESS
Tata’s BigBasket set to merge subscription app BBdaily into main app
The revamp will reduce friction among buyers and paint an accurate picture of BigBasket’s scale and market share, company CEO Hari Menon told Moneycontrol in an interview.
TECHNOLOGY
Premji Invest may pump in $10-$15 million in San Francisco-based AI startup Galileo
Premji Invest is stepping up bets in global tech startups, as it looks to capitalise on the generative AI boom. It recently invested in Hugging Face, Hippocratic AI, Canva and Poolside
TECHNOLOGY
Exclusive: Former AWS country head Vaishali Kasture joins Microsoft, to lead SMC business in India and Asia
Vaishali Kasture will be the second top executive to depart from AWS to Microsoft in the last year, as the companies compete to get a larger share of the cloud business in India.
BUSINESS
Ola Consumer nears 1 lakh daily orders on ONDC; Bengaluru food delivery at 20% of Swiggy-Zomato's scale: Bhavish Aggarwal
Ola currently has three propositions on ONDC: food delivery, quick commerce and hyperlocal logistics. Ola is currently the biggest buyer app on the platform and accounts for 25% of ONDC’s overall business, Aggarwal told Moneycontrol in an interview.
BUSINESS
Funding is back, with a catch: Secondary share sales fuel $100 million rounds in Indian startups
While deals were mostly primary in nature in 2021, most rounds now include a significant portion of secondary share sales. As a result, valuations are lower, and stakeholders benefit from a win-win situation.
BUSINESS
Eruditus nears deal to raise $150 million in fresh round led by TPG
The discussions to raise money started sometime last year and the initial plan was just to do a small $50 million secondaries round where some early investors would take an exit. However, Eruditus after achieving a full year of Ebidta profitability decided to kick off a larger round and close it before flipping its base back to India from Singapore, a source told Moneycontrol.
BUSINESS
Hyderabad dislodges Chennai to become Cognizant’s largest centre globally
Sources say Cognizant’s Chennai headcount is in the 55,000-56,000 range. At the same time, Hyderabad has grown to over 57,000 employees and is growing at a faster clip.
BUSINESS
I'm an advocate for founders taking money in secondary sale, says Freshworks founder Mathrubootham
The statement comes amid ongoing debate among investors and founders over the sale of founder shares in secondary markets, a trend increasingly common among new-age companies
BUSINESS
Power struggle? Amit Agarwal in control of Amazon India as Manish Tiwary bows out
Over the past year or so, Amazon’s competitive intensity has reduced, according to a founder who is a top seller on both Amazon and Flipkart.
BUSINESS
FirstCry IPO enhanced our corporate governance and disclosures, says founder and CEO Supam Maheshwari
"There is no pressure for a company of our stature, size and maturity curve. What is the pressure if you have been delivering operational profitability for the last four years," says FirstCry founder Supam Maheshwari.
BUSINESS
Despite e-commerce slowdown, PAT doubled last year: Unicommerce promoter Kunal Bahl
Snapdeal-backed Unicommerce will open its initial public offer's (IPO) anchor book on August 5 and will list on bourses on August 13th.
BUSINESS
Have done enough for the market to see excitement on listing day: Ola Electric founder Bhavish Aggarwal
In a freewheeling conversation with Moneycontrol, the driven founder of Ola said he is prepared to face public market investors. He also said he is fully involved in Ola Electric as it is operationally intense.
BUSINESS
Unicommerce IPO anchor book to open on August 5, listing on August 13
The company has lowered the issue size of the offer for sale from 2.98 crore shares to 2.56 crore shares.
BUSINESS
FirstCry likely to list on stock exchanges on August 13
The startup will launch the anchor book for its IPO on August 5, with the issue likely to open for public subscription between August 6 and August 8, sources told Moneycontrol.
