BUSINESS
PayU and IFC invest Rs 114 cr in trade finance platform Vayana Network
Vayana plans to use the funds to build products focused on helping MSMEs better manage their working capital and become credit ready.
BUSINESS
Agritech Eeki Foods raises $6.5 million in Series A led by General Catalyst
The freshly-raised fund will be used to scale Eeki to hundreds of acres and the company will focus on building the team, technology, and organisational scale, in the coming year.
BUSINESS
IT employees union files complaint against Infosys, seeks removal of non-compete clause
This comes in the backdrop of IT major’s Q4 earnings that showed the attrition continues to spike amid a robust demand environment. The company hired 85,000 freshers in the year ended March 31, 2022, while the attrition stood at 27.7 percent.
BUSINESS
Indian SaaS industry to reach $100 bn in revenues by 2026: Report
VC investments in the SaaS sector grew by three-fold in 2021 to over $4 billion and is expected to grow by 55 percent to touch $6.5 billion over the next year.
BUSINESS
Covering commuting costs, allowing casual attire: How companies are trying to get staff back to office
After the 2020 lockdown led to office closures for almost two years, employees of most companies who worked from home are now being asked to return to the office. Companies are taking various steps to help their employees through the transition
BUSINESS
Restaurant management platform UrbanPiper raises $24 million in Series B from Zomato, Swiggy, others
The restaurant management platform plans to use the funds raised to scale its product and engineering teams, strengthen its platform capabilities, as well as broaden its offerings to enable more services to restaurants.
BUSINESS
Good governance begins in founders' heads: InfoEdge founder Sanjeev Bikhchandani reacts to Sequoia Capital blog
The blog on governance was prompted by the recent events in BharatPe and the resignation of its founder Ashneer Grover. Bikhchandani also discloses two great pieces of advice he received when he raised his first round back in 2000, in his response.
BUSINESS
Cybersecurity startup Securden raises $10.5 million in Series A funding
Securden, earlier in 2020, raised $1.2 million in a seed investment round led by Accel, which has also participated in the current Series A funding round.
BUSINESS
AI platform Observe.ai raises $125 mn in Series C funding
With the newly raised fund, the company plans to expand its Intelligent Workforce Platform, invest in research and development functions, and scale the go-to-market team, including the direct and channel-based motions.
BUSINESS
Metabolic fitness platform Ultrahuman acquires LazyCo
LazyCo Founders Apoorv Shankar and Yogansh Namdeo will join Ultrahuman and lead the hardware product development post the acquisition.
STARTUP
Healthcare provider Medfin raises $15 million in Series B funding
With the freshly raised funds, Medfin plans to expand to more than 25 cities across the country. It plans to invest in research and development, technology, processes, and people.
STARTUP
Employee productivity monitor We360.ai raises $500,000 in seed funding
After the seed fund round, We360.ai said it has become the first startup from a Tier-2 Indian city to raise venture capital.
STARTUP
Rebel Foods acquires majority stake in luxury chocolate brand SMOOR
With the investment from Rebel Foods, SMOOR hopes to witness thrice the growth in financial year 2022-23 over the previous year.
STARTUP
Flipkart Health+ launches app to enable access to medicines, healthcare products
The Flipkart Health+ tech platform delivers products across 20,000 pin codes in India. In addition, the Flipkart Health+ app can be accessed on low bandwidth making it ideal for locations with lower internet reach.
STARTUP
Twitter rival Koo launches self-verification feature to reduce trolling, create accountability
Koo had recently launched the beta version of the feature on its platform and about 5,000 users have self-verified their accounts since then.
STARTUP
PhonePe to more than double employee count to 5,400 in next year
The leader in transactions on UPI said it has 2,800 open job positions across Bangalore, Pune, Mumbai, and Delhi
STARTUP
Biryani, BSE and Bills, the three Bs of India’s online expenditure in FY22: Razorpay report
Fintech company Razorpay analysed over a billion transactions on its platform to know what Indians were paying for online. Here’s what they found out.
STARTUP
Venture Capital firm Omnivore launches $130 mn fund to invest in agritech, climate sustainability
With the newly launched fund, Omnivore will focus on catalysing climate action in agriculture, backing startups that are addressing India’s GHG emissions, and securing the future of India’s farmers.
BUSINESS
Women directors make up just 16% of board in NSE 200 companies: The Glass Ceiling report
HDFC and Syngene International Ltd. were the top performers, with each having four women on their boards. Asian Paints, Bharti Airtel and Cipla were among those ranked second, with three women directors.
MCMINIS
What do crypto miners do?
STARTUP
Scrut Automation bags $3 million funding from Lightspeed and Endiya Partners
The startup plans to use funds raised to expand operations in the United States, European Union, and Asia and improve its automation capabilities.
MCMINIS
What is a recognised startup?
BUSINESS
Edtech Scaler Academy raises $55 million led by Lightrock, valued at $710 million
With the current round of funding, Scaler Academy aims to focus mainly on its international expansion plans, make strategic acquisitions, and grow its customer base in India and globally
BUSINESS
Economic Survey 2022: India climbs 35 ranks in Global Innovation Index but lags in patents count
In 2020-21, Indian residents made up 40 per cent of the total applications, up from 20 per cent in 2010-11
