BUSINESS
Cred’s Kunal Shah has made angel investments in close to 80 fintechs till date
Shah has held the title of the most active angel investor of the Indian startup ecosystem over the last two years and has been an early backer of the fintech unicorn Razorpay, and other companies like M2P Fintech, Jupiter and Coinswitch.
BUSINESS
Without loss-making companies, Indian fintech would not have seen such growth: CRED’s Kunal Shah
Shah, who is also an angel investor, said he has invested in over 70-80 fintechs till date with an average ticket size of $50,000
BUSINESS
Jio Financial Services has potential to become largest fintech: Chiratae’s TC Meenakshisundaram
This comes at a time when fintechs have adopted a wait-and-watch approach towards new entrants, as they believe that JFS opens new doors for them, even as competition is likely to intensify.
BUSINESS
Tier 2 and lower cities contribute majority of Mamaearth’s revenue: CEO Varun Alagh
Alagh was speaking at the launch of a report by Redseer, which projects the Indian BPC market at $30 billion by 2027, growing at a compound annual growth rate of 10 percent
BUSINESS
Zepto's unicorn round sole bright spot as funding winter persists in August
Indian startups raised $376 million in PE/VC funding in August 2023, down from $523 million in July.
BUSINESS
Upskilling platforms see robust demand for courses amid edtech slump
Upskilling and higher education platforms secured close to $750 million across 116 deals in 2022, K-12 and test prep platforms, on the other hand, nearly halved to $1.7 billion in 2022 from over $3 billion in 2021.
BUSINESS
Investors take a harder look at Indian edtech deals amid Byju’s troubles
While upskilling edtechs continue to attract some interest, investors appear to be cautious on the K-12 edtech sector
BUSINESS
With 5x growth in FY23 revenue, Matrix-backed Farmart eyes inorganic growth
Alekh Sanghera, co-founder and CEO of the company, said it clocked a total revenue of Rs 1,060 crore, a significant spike over the Rs 209 crore recorded in FY22.
BUSINESS
Byju’s lets go of employees in mentoring, product expert division after performance review
Employees were asked to resign voluntarily and were offered the salary for August and September as their final settlement, according to sources.
BUSINESS
Bullish on India | Why India will be the AI talent hub of the world
According to Nasscom’s State of Data Science and AI Skills report, India has16 percent of the world’s AI talent pool and one of the largest annual STEM supply lines, with 2.25 million graduates.
BUSINESS
Indian edtech firms leverage AI to curb cash burn, growth hiring
Firms are finding new use cases for AI including grading and feedback, co-pilot for teachers and students, and even sprucing up CVs of students, helping them to cut costs and reduce hiring.
BUSINESS
Why L&T’s AM Naik chose to be a manager and not an entrepreneur
Naik is set to address his last annual general meeting on August 9.
BUSINESS
Edtech unicorn LEAD narrows losses, revenue nearly doubles in FY23
LEAD CEO Sumeet Mehta said that the company had to cut jobs over the past year to adjust cash flows, as many schools it catered to suffered from stressed balance sheets post-pandemic.
BUSINESS
Investors will be more sceptical about investing in Indian edtechs following Byju's crisis: Cuemath's Manan Khurma
Cuemath founder Manan Khurma added that the crisis at Byju's has had an impact on how parents in the country view edtech in India.
BUSINESS
Funding to Indian startups fell 77% from Jan-July 2023 over 2022
In July, investors participated in about 42 funding rounds and invested $523 million, slightly lower than $546 million in about 44 deals in June.
BUSINESS
Cuemath's Manan Khurma expects Indian business to grow slower than international ops over the next year, cites limited depth
Khurma has joined a growing list of founders and venture capitalists to talk about the over-valuation of India's internet market, which seems to be slowing post the pandemic-led boost.
BUSINESS
Byju’s defers FY24 appraisals as it looks to conserve cash amid delay in funding
A majority of the company’s employees are also yet to receive variable pay and other incentives.
BUSINESS
Generative AI courses in hot demand as more Indians flock to upskilling platforms
Moneycontrol put together data on over 30 such courses hosted by about eight upskilling startups in India.
BUSINESS
Byju’s delays PF payments for most employees again despite EPFO nudge
The company had agreed to clear June PF payments by July 15 after Moneycontrol and a few other media outlets reported about a delay in PF payments.
BUSINESS
Byju’s vacates its biggest office space in Bengaluru to save costs
Over the weekend, Moneycontrol visited Kalyani Tech Park and the two remaining offices of Byju’s — IBC Knowledge Park, Bannerghatta and Prestige Tech Park, Kadabeesanahalli, to confirm the development.
BUSINESS
The tragedy of Kota: From edtech wars to rising suicide numbers
With 11 lives lost in the past three months, students are wilting under pressure amid cutthroat competition and exam pressure.
BUSINESS
Lightspeed-backed Frontrow shuts operations
This came months after the company laid off 75 percent of its staff and said it would “start from scratch.” After two rounds of layoffs in May and October 2021, the company was left with about 35-40 employees.
BUSINESS
Funding winter hurts! India unicorn employee addition falls to fifth
Experts said employers are monitoring open positions and correcting the excessive hiring of 2021, when there was a war for talent.
BUSINESS
Funding to Indian startups tanked 79% in first half of 2023 as top investors sit out
In June alone, investors participated in about 44 funding rounds and invested about $546 million, against $2.4 billion invested across 108 funding rounds in the year-ago period.
