BUSINESS
Coinswitch, CoinDCX seek to invest up to $200,000 in crypto, Web3 startups
Both crypto exchanges are in talks with the some start-up founders and likely to announce investments in the coming quarters.
BUSINESS
Amid the crisis, Trell employees look for greener pastures
An audit by EY last week found financial irregularities by the founders. This pulled the plug on funding plans, pushing the company to cut costs and lay off employees.
BUSINESS
BlueStone raises $30 million, plans IPO by end of fiscal 2022-23
In the fiscal year ending March 2022, the company will record revenue of Rs 500 crore (a growth of 85% over the previous fiscal year), with break-even achieved, said the company in a statement.
BUSINESS
Goodbye résumé, hello Discord: How hiring happens in Web3
Web3, the next version of the Internet, where services will run on blockchain, is disrupting jobs and the future of hiring.
BUSINESS
Licious raises $150 mn to invest in technology, offline expansion and strategic acquisitions
The round was led by Amansa Capital, along with Kotak PE & Axis Growth Avenues AIF - I
BUSINESS
Exclusive: Zomato may extend $75-100 million debt to rescue cash-strapped Blinkit
Blinkit has laid off employees, shuttered dark stores amid rising competition. It recently raised $10 million debt from Innoven Capital.
BUSINESS
Scaling Biryani like scaling burgers. Inside the house of cloud kitchen brands
They gained traction as the pandemic forced people to stay indoors and order food online. Now, cloud kitchen brands are looking to broaden their footprint across the country.
BUSINESS
Seafood marketplace Captain Fresh raises $50 million in Series C
The company is looking to foray into Africa, Middle East and other parts of Asia with this fundraise.
BUSINESS
What women want: A crack at the Web3 glass ceiling
Women are relatively new to the Web3 ecosystem. They say it is important to have more women founders to build awareness and make this ecosystem more inclusive in India
BUSINESS
D2C brand DaMENSCH raises $16.4 million led by A91 Partners
D2C brand DaMENSCH will use the funds to make investments in technology, and to strengthen and diversify the product portfolio and is targeting 3x growth in FY23.
BUSINESS
ASCI guidelines to aid investor education and transparency, says Crypto industry
The guidelines by the Advertising Standards Council of India (ASCI) mandates a disclaimer stating that investments in crypto and NFT products are highly risky.
BUSINESS
Web3 spawns a new generation of angel investors in India
More than capital, Web3 startup founders are looking for value addition, expertise and mentoring from investors. There’s also a shift in fundraising, with startups issuing token assets instead of equity stakes.
BUSINESS
DealShare raises $45 million in series E funding at $1.7 billion valuation
Earlier in 2022, DealShare raised $165 million in the first close of its Series E fundraise from Dragoneer Investments Group, Kora Capital, Unilever Ventures, and existing investors, Tiger Global and Alpha Wave Global (Falcon Edge).
BUSINESS
ElasticRun turns unicorn, raises $330 million led by SoftBank Vision Fund 2, Goldman Sachs
ElasticRun, founded by Sandeep Deshmukh, Shitiz Bansal and Saurabh Nigam in 2016, helps kirana or neighbourhood stores source goods and working capital from large FMCG brands
BUSINESS
WazirX in transition as co-founders Nischal Shetty, Siddharth Menon step away from active operations
Global cryptocurrency exchange Binance, which acquired WazirX in 2019, may look at setting up a management team to oversee its operations, say sources.
BUSINESS
After Zomato, Swiggy gets ready to join BNPL bandwagon
Buy now pay later has become a prominent mode of payment in the last few years especially among youngsters. Unlike other forms of lending, BNPL is a low-cost short term credit which does not require a credit score.
BUSINESS
Nykaa's Nayar Family and Trust to nominate 50% of board directors
Experts say that this is being done so that the founder and the promoter family have tighter control over the company.
BUSINESS
Swiggy's growth declines in FY21 as net operating revenue drops 26.5%, narrows losses
The decacorn reported a net loss of Rs 1,314 crore during the same fiscal. This is a 65 percent decrease from the last financial year.
BUSINESS
Nykaa is focussed on building sustainable business with an eye on profitability: CEO Falguni Nayar
In an interview with Moneycontrol, Nayar said the company is investing for the future and has seen an increase in its user base.
BUSINESS
Polygon founders Jaynti Kanani & Sandeep Nailwal on why Ethereum will win, and on building an AWS for Web3
Polygon raised $450 million in its first institutional round from a marquee list of investors. Nailwal claims they could have raised $200 million more but decided to stop at $450 million
BUSINESS
Homegrown plant-based meat brand Blue Tribe ropes in Anushka Sharma and Virat Kohli as investors
The company provides plant-based meat products that are made of pea, soybean, lentils, grains, and other vegetarian ingredients.
BUSINESS
Polygon raises $450 million from Sequoia India, Tiger Global and SoftBank
The Indian Layer-2 company which helps Ethereum’s network solve its growing pains by employing techniques to move a wide range of transaction information off the blockchain was founded by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun in late 2017.
BUSINESS
Miners, minors and developers join investors in seeking clarity over crypto tax
Many developers, freelancers and marketing professionals, among others working in Web3 or decentralised projects, prefer to be paid in cryptocurrency.
BUSINESS
Budget 2022 slapping a 30% tax on crypto income will hurt new investors: Experts
Finance Minister Nirmala Sitharaman announced a 30 percent tax rate and 1 percent TDS for gains made from virtual assets and transfers in the Budget.
