BUSINESS
Feast to famine: How agritech Dehaat went from record funding to layoffs
It is another cautionary tale of ambitious startups that attempted to conquer new markets and grow rapidly only to come up against a funding winter amid global market turmoil this year.
BUSINESS
Exclusive | Unacademy halves Relevel team to 700 as placements drop amid job market slowdown
Interestingly, the slowdown in the job market doesn’t seem to have affected other recruitment platforms like Naukri. That company, run by Info Edge, said its recruitment business recorded 49 percent growth in new customers and billing growth was witnessed across IT and non-IT.
BUSINESS
upGrad appoints Myleeta AgaWilliams as chief executive officer of international operations
Myleeta AgaWilliams will be responsible for managing end-to-end international operations and creating region-specific product pipelines.
BUSINESS
In the age of Insta, can Uable's bet on private clubs for teenagers pay off?
The social app, floated by a co-founder of edtech firm Vedantu Saurabh Saxena, has seen a good response but is far away from profitability.
BUSINESS
Agritech startup Produze raises $2.6 million in seed funding from Accel, All in Capital
Ben Mathew, co-founder and CEO of Produze, in a virtual interaction with Moneycontrol, said the funds raised will be used to build distribution capabilities, expand procurement sources, and strengthen Produze’s tech team
MCMINIS
How much funding did startups raise in July 2022?
BUSINESS
School edtech unicorn LEAD lets go of about 100 employees
The company confirmed that less than 100 employees have been let go after a performance review that LEAD carries out yearly.
BUSINESS
US-based investment firm AWE launches Rs 350 crore maiden fund targeting India
With the development, AWE has joined the list of funds like Sequoia India, Elevation Capital, and Accel India which have launched new funds focusing on investment in India.
BUSINESS
Edtech unicorn Vedantu lays off another 100 employees
According to sources, permanent employees from sales and training teams were laid off over the last month.
BUSINESS
Edtech unicorn upGrad acquires test-prep platform Exampur
In July, UpGrad Rekrut, a subsidiary of the edtech unicorn, acquired recruitment and staffing firm Wolves India
BUSINESS
Gaurav Munjal-backed Newton School eyes profitability by fiscal year-end
Co-founder Siddharth Maheshwari said that many early-stage startups, bearing the brunt of the funding slowdown in the edtech space, are now reaching out to companies like Newton School, requesting an acquisition.
BUSINESS
Layoffs at agritech startup DeHaat less than a year after large fundraise
Founder and CEO Shashank Kumar confirms layoffs but says the number is not in triple digits. DeHaat raised $115 million in 2021 in what was the largest funding round for an Indian agritech startup
BUSINESS
Tele-consulting platforms, e-pharmacies hit by tepid demand as pandemic boost wears off
During the pandemic, e-pharmacies and online consultation platforms turned out to be lucrative businesses within health tech, which also includes at-home diagnostics, fitness and nutrition platforms, disease management and employee wellness services.
BUSINESS
Travel-tech startup Spotnana raises $75 million in Series B funding
Earlier, in September 2021, the company had raised $34 million in series A funding, co-led by ICONIQ and Madrona Venture Group with participation from Decibel and Mubadala Capital.
BUSINESS
Vy Capital-backed Synaptic announces first ESOP buyback worth $1 million
The company also said that only those employees who have been with Synaptic for over a year could participate in the buyback program. About 14 of the current 80 employees have hence deemed eligible for this round.
BUSINESS
MP Karti Chidambaram writes to SFIO, seeks probe on Byju's
His letter to the SFIO comes at a time when the world's most valuable edtech startup is muddled with issues including alleged mis-selling of various courses, delayed fundraises, and is thus cutting costs.
MCMINIS
Why are edtech companies going hybrid?
BUSINESS
Healthtech startup Eka Care raises $15 million led by Hummingbird Ventures
Earlier in July 2021, Eka Care raised $4.5 million in its seed round of funding from 3one4Capital, Eximius Ventures, Speciale Invest, and several angel investors.
BUSINESS
Brand-support platform AnyMind Group raises $29.4 million in Series D funding
AnyMind Group has so far acquired seven companies from various countries including Japan, Hong Kong, Thailand and India.
BUSINESS
Profitable and capitalised, it is business as usual for us: Zetwerk CEO Amrit Acharya
“While we also grew a lot last year, we grew profitably. And hence, in some way, destiny is under our control because we can now choose to go aggressive or not, without relying on extreme measures,” he said.
BUSINESS
Edtech unicorn upGrad acquires recruitment firm Wolves India
Wolves India will operate independently as a subsidiary of upGrad Rekrut and strengthen its tech placement portfolio, upGrad said in a statement
BUSINESS
Digital healthcare platform MediBuddy acquires rural healthtech startup Clinix
In June 2020, Medibuddy had announced a merger with online doctor consultation provider DocsApp for an undisclosed amount. The merger was in a cash-and-stock deal and both brands had agreed to continue existing independently.
BUSINESS
Kunal Shah-backed Hyperface raises $9 million in seed funding led by 3one4Capital, Flipkart Ventures
The company, over a year old, currently has a workforce of about 30 and plans to double the strength in the coming six to eight months, cofounder Aishwarya Jaishankar told Moneycontrol. She added the funds will also be used for product innovation and business development.
BUSINESS
We are building a company to outlast many others: UpGrad co-founder Ronnie Screwvala
As rivals go for mass sackings and restructuring, Ronnie Screwvala’s upGrad plans to hire around 3,000 people to increase its workforce to around 6,500-7,000 by August
