TECHNOLOGY
Restaurant density will drive food delivery economics: Swiggy's Rohit Kapoor
'Koramangala is today one of the highest density locations in the country. That one locality has got 2,000 restaurants. Any cuisine, any price is available there. It is faster and cheaper,' says senior Swiggy executive
TECHNOLOGY
Zomato brings back Rahul Ganjoo, Pradyot Ghate to spruce up going-out business
Sources say that Ganjoo, who was head of new businesses when he quit, after being the CEO of food delivery and head of product management, and Ghate, who was a vice-president when he left, are back in the fold
TECHNOLOGY
After complaints, Flipkart allows sellers to change prices of items once again
Following Moneycontrol’s exclusive report, Walmart-owned marketplace resolves issue that barred sellers from changing prices
TECHNOLOGY
Ola to enter grocery delivery via ONDC, captures 30% of food orders on network
Sources also said that the ride-hailing app has already become the second biggest buyer side platform after Magicpin in the food category.
TECHNOLOGY
Flipkart stops sellers from changing prices of items in alleged violation of FDI policy
According to sources close to the developments, Flipkart might be preventing price changes as a strategy to force sellers to pass on the benefits of lower commissions — charged to sellers in its new rate card — to consumers
BUSINESS
MC Interview: Component scheme, notifying DPDP rules are priorities: MeitY Secy S Krishnan
Moneycontrol sat down with MeitY Secretary S Krishnan to take stock of what the government’s immediate and long-term priorities are — from data protection to AI chips
TECHNOLOGY
Govt won't bet the farm on Nvidia for its billion-dollar AI chip package
"As a procurement rule, we will never go with one brand... Our procurement will be brand neutral," a source close to the developments said.
TECHNOLOGY
Sandeep Naik to step down as General Atlantic’s India and Southeast Asia Head, will move to an advisory role
Naik had joined the firm as Managing Director and the head of its India office in late 2012. Sources said that his responsibilities will be handled by Shantanu Rastogi in India and Neal Kok in Southeast Asia.
TECHNOLOGY
Electronics with Chinese chips are sending data back via backdoors: HCL co-founder Ajai Chowdhry
In a conversation with Moneycontrol, HCL co-founder dwells on how to make India a hardware nation, competing with China and other Asian tigers in electronics manufacturing, and why quantum tech should be built locally
TECHNOLOGY
Indian tech startups saw more funding rounds than Chinese counterparts in H1: Tracxn report
H1 of 2024 also marked the first six-month period when the value of startup funding in India rose sequentially since H2 of 2021
TECHNOLOGY
Ronnie Screwvala keen to change how wealthy Indians give back to society
Swades Foundation, a non-profit run by the Screwvala family, has filed the draft papers to raise Rs 10 crore via the social stock exchange of NSE. The seasoned entrepreneur wants to attract high profile industrialists and celebs to the project
TECHNOLOGY
Loyalty, discoverability, frequency: Decoding Zomato’s bid to acquire Paytm Insider
Zomato could tap Paytm’s movie and events ticketing business to launch an integrated loyalty programme, cross-sell food and beverages, and create better discovery of entertainment options for users.
TECHNOLOGY
Ixigo’s bumper listing drives its pandemic acquisitions into Rs 100-crore club
Listing pop propels SAIF to 21X return, Micromax to 17X and Peak XV to 13X
TECHNOLOGY
I will be shattered if another billion dollars comes to education startups: Ronnie Screwvala
"Edtech was invented by the Byju's and the Unacademys of the world because they wanted to raise money. Today, if you want to go out and raise money, everyone will say Ed-AI," the Upgrad founder said.
TECHNOLOGY
Govt to work with TCS, HCL, others for Rs 6,000 crore quantum tech scheme
Startups to get funding to create products based on quantum tech; funding disbursals to start from September
TECHNOLOGY
Budget may launch ghar wapsi scheme for Indian startups to flip to GIFT City
The government may later implement another policy to allow companies domiciled in GIFT City to list on Indian bourses such as BSE and the National Stock Exchange, sources said.
BUSINESS
Ixigo IPO: Peak XV heads for 14th public market-led exit since pandemic
Peak XV’s cumulative shareholding in portfolio companies that are now listed publicly — such as Truecaller, Freshworks, Mamaearth, and Five Star Finance, among others — is currently worth $1.6-1.8 billion
TECHNOLOGY
Ka-Ching: New age firms' top bosses hit the jackpot yet again in FY24
Top new-age companies like Paytm, Zomato, and Policybazaar spend hundreds of crores by way of remuneration for their top brass.
BUSINESS
BNPL startup Simpl hit by second round of layoffs, cuts 50 more jobs
The move comes less than a month after the Bengaluru-based fintech firm let go of about 160 employees, primarily in high-paying roles like engineering and product. While confirming the development, the company clarified that it is not 50 but 30 employees who are subject to the layoff.
TECHNOLOGY
ONDC hits a fresh peak of 5 million retail-category orders in May
Food delivery order volume hits 1 million in May, but its share of the retail category falls to 20% of ONDC orders during the month as segments like grocery, fashion, home and kitchen see uptick
TECHNOLOGY
Govt urges big corporates, unicorns to set up incubators for manufacturing startups
DPIIT has reached out to large corporates like Apple, Tata, Hyundai, Skoda, Maruti and unicorns like boAT, Moglix, Meesho, EaseMyTrip
TECHNOLOGY
India has world's 19% of chip designers but only 7% of design facilities: BCG
China has 28 percent of the world’s chip designers and 12 percent of design facilities, says the report
TECHNOLOGY
Sovereign wealth funds bulk up on Indian new-age stocks
Government-backed funds from Norway, Singapore, Abu Dhabi, and Kuwait are attracted to the increasing profitability of companies like Zomato, Policybazaar, and Mamaearth, say experts.
TECHNOLOGY
Infra.Market secures $50 million in debt for West Asia expansion
In FY24, the B2B unicorn logged revenues of $1.75 billion and a profit after tax of $50 million
