BUSINESS
Economic Survey 2023: E-commerce sees windfall in post-Covid period with 69.4% surge in FY22 orders
Consumers from tier II and III cities led the growth in order volumes for e-commerce companies in the last two years, accounting for over 61.3 percent of the overall market share in FY22, compared to 53.8 percent in the previous fiscal.
BUSINESS
Bootstrapped Zerodha, Zoho become the most profitable new-age companies in FY22
Two of India's most profitable unicorns are bootstrapped and haven't raised a penny in venture money. Here's a look at Zoho and Zerodha's financials for FY22
BUSINESS
What are silent layoffs?
BUSINESS
14 Indian startups have sacked over 2,100 employees in the first three weeks of 2023
The number of layoffs has crossed last year’s three-week average of around 1,060 sackings as more companies take up the layoff route to stay afloat amid a stubborn funding winter.
BUSINESS
The intent is to keep Flatheads alive: Shark Tank fame Ganesh Balakrishnan
If the episode had aired in September, I would have given it a chance with Flatheads because it was still alive at the time. It's a bittersweet feeling, because reviving Flatheads now requires double the effort and energy, says Ganesh Balakrishnan
BUSINESS
Budget 2023 | TCS chief Rajesh Gopinathan sees services sector happy, centred on government agenda
The TCS chief added the government has also been 'quite supportive' of the sector, through the pandemic, and in various FTA (Free trade agreement) negotiations.
BUSINESS
Edtech startup Toddle raises $17 million from Sequoia Capital India, others
This comes as B2C K-12 online edtech startups in India have been suffering post-pandemic with demand falling, while those operating in the B2B edtech segments witnessed tailwinds of growth with schools more open to adopting innovation.
BUSINESS
Tiger Global-backed unicorn Moglix joins layoff league
With funding drying up, a number of companies, including the most well-funded, have laid off large numbers of employees since the beginning of 2022 impacting close to 20,000 staff, according to data compiled by Moneycontrol.
BUSINESS
Westbridge-backed LEAD spent Rs 538.7 cr to earn Rs 141.6 cr in FY22 as employee costs widen
During the year, LEAD spent about Rs 258.8 crore on employees, against Rs 99.6 crore in FY21. The company's total expenses also surged to Rs 538.7 crore during the year from Rs 186.6 crore in the previous fiscal.
BUSINESS
Cockroaches in demand as unicorns catch a cold this funding winter
After a tumultuous 2022, as investors and founders gear up for an uncertain 2023, it will be interesting to see who wins the race--mythical unicorn beasts or grounded, immune cockroaches that can outlive a nuclear war
BUSINESS
PE/VC funding tanked 30% in 2022; here's how Indian startups fared this year
The average deal size of late-stage transactions (investment into companies that are over 10 years old, or Series G or later rounds of institutional investments) fell 39 percent to $90 million in 2022 from $148 million last year.
BUSINESS
Cred's Kunal Shah retains title as top angel investor with 67 deals in 2022
Unacademy's Gaurav Munjal and Jupiter's Jitendra Gupta's investment activity fell significantly, keeping them off the list this year. Munjal's investments decreased from 18 to eight this year, while Gupta only made five deals compared to 18 in 2021.
BUSINESS
Indian startups laid off close to 20,000 employees in 2022 as ecosystem faces prolonged funding winter
Since the beginning of the year, about 50 startups have laid off a large number of employees, citing funding constraints and restructuring, while others have shifted the blame to employees' performance, calling the layoffs standard.
BUSINESS
Goodbye 2022 | India’s Agritech sector in full bloom as valuations shoot up amid continued investor interest
Agritech was an outlier on the growth front in the Indian startup world that saw setbacks and a funding crunch this year.
BUSINESS
HRtech SaaS platform BetterPlace raises $40 million in extended series C round
BetterPlace's existing investors Jungle Ventures and British International Investment also participated in the funding round
BUSINESS
How many jobs did startups create since 2020?
BUSINESS
Budget 2023: Edtechs call for lower GST slab on educational products and services, tax deductions on upskilling courses, among others
At present, educational services and products are in the 18 percent GST slab. The newly formed self-governing industry body, the Indian Edtech Consortium (IEC) weighed in on the demand and said the government should consider shifting educational products and services to a tax slab of 5-12 percent.
BUSINESS
No credible competition in school edtech space: LEAD’s Sumeet Mehta
“Revenue growth in FY22 over FY21 was 2.5x, and in FY23 over FY22 could be about 2x. We will aim to double our business in the next year also. In terms of profitability, we are on track,” Mehta told Moneycontrol.
BUSINESS
NEP and NCF: Tailwinds for school edtech
BUSINESS
Indian agri-foodtech startups clock $4.6 billion in funding in FY22, overtake China in funding inflow: Report
In a statement shared on November 30, AgFunder and Omnivore said the deal activity for agri-foodtech startups also increased to 234 deals in FY22 compared to 189 deals in FY21.
BUSINESS
Investors favour upskilling platforms as other edtechs struggle with funding winter
Higher education and upskilling startups have raised $1.1 billion in private equity and venture capital funding so far this year, slightly less than the $1.25 billion raised in the first 11 months of 2021, according to data by Tracxn Technologies.
BUSINESS
Classplus is overvalued, Unacademy's Gaurav Munjal says citing Graphy's growth
"We believe one can only understand their business and numbers well enough. Others can only speculate. And hence, we don’t like to look down upon anyone," Classplus' founder told Moneycontrol.
BUSINESS
Can edtech unicorn Vedantu pull an Aakash with Deeksha buy?
Faced with falling demand for online classes, Vedantu is betting on a hybrid strategy, where it plans to offer online and offline coaching in rural and lower-tier towns at a lower price point.
BUSINESS
India has very promising two-three decades ahead of it: Tata Sons' N Chandrasekaran
According to Chandrasekaran, a company's fitness depends on its cash flow. One cannot build a company for valuations alone. Valuation will come and go.
