BUSINESS
Women-led startups keep funding winter at bay, raise over $4 bn in 2022
While the share of funds raised by women-founded startups has increased over the years, it still remains a small fraction of the overall funding.
BUSINESS
Funding for startups in small towns surges 41%, Bengaluru, Mumbai, NCR see decline: Blume report
The deal share of non-metro startups increased to 2.8 percent in 2022 from 1.6 percent in 2019, according to Blume Ventures’ Indus Valley Annual Report 2023.
BUSINESS
Companies continue to spend on tech to create cost-saving solutions, says Capgemini’s Ashwin Yardi
Almost two-thirds of respondents to a Capgemini survey of CEOs and chief information officers (CIOs) want to spend on technology to drive cost-saving initiatives, Yardi said.
BUSINESS
India’s diversity necessitates diverse solutions, says Aadhaar's Pramod Varma
“We are 1.4 billion people, so we are pretty diverse. Such diversity necessitates diversity of solutioning as well. The enormous amount of startup and entrepreneurial energy needs to build on top of the DPIs,” Varma said.
BUSINESS
Lending-focused startups corner a third of funding this year as pure tech deals dry up
Firms with lending as one of their key offerings have raised close to $850 million in the first two months of 2023, with PhonePe garnering half of the amount.
BUSINESS
Parliamentary panel has approved data protection bill, says Ashwini Vaishnaw
The draft digital data protection bill was published in November 2022 for extensive public consultation
BUSINESS
Maharashtra lost a lot of startups to Bengaluru and Hyderabad, says Deputy CM Devendra Fadnavis
“It was quite unaffordable to stay in Mumbai for businesses and that's why they went to Bengaluru and Hyderabad,” said Fadnavis
BUSINESS
Saving seats to start at ease: How Wipro is bringing moms back to jobs
Wipro chairman Rishad Premji said that organisations must create avenues and ways that make it much simpler for women to either not leave the workforce or rejoin it.
BUSINESS
Days of authoritarian leadership diminishing: Wipro chairman Rishad Premji
Rishad Premji believes that leaders who can empathise and connect with people are very powerful. The Wipro chairman also said that it is important to encourage an environment of risk-taking and celebrate failures.
BUSINESS
Duolingo launches literacy app for kids 'Duolingo ABC' in India
The free Duolingo ABC app is available for download to users from the Google Play Store and App Store in India.
BUSINESS
Funding to Indian startups falls 77% in no respite for the world’s third-largest startup ecosystem
In February 2023, the country’s startup ecosystem, currently the third-largest in the world, saw only 91 deals worth $1.32 billion, against 308 deals worth $4.77 billion in the year-ago period
BUSINESS
Fasal forays into farm output business, in talks to raise funds
According to founder Shailendra Tiwari, Omnivore-backed Fasal is in talks to raise a new round of funding to support its output business foray, amid an impending funding winter
BUSINESS
Big 4 auditors need to double down on diligence to net willful fraudsters, says Sequoia Capital’s Rajan Anandan
Sequoia Capital’s Rajan Anandan stated that the ecosystem should focus on startups much earlier in terms of governance practices that need to be put in place.
BUSINESS
Alteria Capital’s Vinod Murali: When there is no equity, there is no debt either
Venture debt refers to a variety of debt financing products that are applicable specifically to venture capital-backed companies
BUSINESS
Fintech unicorns slip deeper into losses in FY22 as ad spending soars
The losses of five fintech unicornrs widened 1.2-5.5 times in FY 22 over FY 21, with PhonePe reporting the biggest loss of Rs 2,013 crore
BUSINESS
Only six of India's 51 unicorns that have filed results were profitable in FY22
OfBusiness and Infra.Market were the only two unicorns having a profit of more than Rs 100 crore for FY22
BUSINESS
Indian unicorns sitting on lofty valuations with higher revenue multiples than global peers
Nearly half of the country’s 107 unicorns that have filed their financial reports for FY22 have a last-twelve-months average revenue multiple of around 30, according to data compiled by Moneycontrol, higher than most geographies, where such multiples are in the range of 15-20 for high-growth companies, investors and bankers said.
BUSINESS
Loan apps ban: Industry insiders call it a good move to remove bad actors
Fintech startup founders weigh in possibilities of illegal cross border data sharing and cybersecurity threats
BUSINESS
Low-ticket transaction processing costs range from 80 paise to 1 rupee: NPCI’s Dilip Asbe
The NPCI chief also said that the umbrella organisation is attempting to help credit by integrating the RuPay Credit Card on UPI.
BUSINESS
Grading, customer support, assessment: How Indian edtechs are using ChatGPT
ChatGPT offers the chance to learn much faster and more efficiently than ever before, but it can also lower one’s ability to write independently, and may impact startup job prospects.
BUSINESS
What is OpenAI’s GPT-4?
BUSINESS
Byju's lays off at least 1,000 more employees as sales falter, funding winter worsens
None of the employees were told about the layoffs over mail, as emails tend to get leaked, sources said. Byju's rather told employees over normal and WhatsaApp calls to join a call over Google Meet and were informed about the layoffs there, sources said
BUSINESS
Union Budget 2023: FM sows digital public infrastructure plan for agriculture
Union Budget 2023: To further boost startups sprouting out of rural areas, Sitharaman also said the government will launch an agriculture accelerator fund for young entrepreneurs.
BUSINESS
Economic Survey 2023: Private equity investments in agritech surge 50% in four years
The survey also highlighted that there are over 1,000 agritech startups in India that assist farmers in improving farming techniques.
