CRYPTOCURRENCY
WazirX founder Nischal Shetty to launch new project L1 blockchain network “Shardeum"
Shardeum is targeting fundraising by April 2022 followed by its betanet launch in Q32022. The mainnet is estimated to launch towards the end of Q42022.
BUSINESS
Budget 2022 levies crypto tax. How it will impact investors
Budget 2022 | While the tax seems to be a precursor to regulation, it does not imply legality, say experts
BUSINESS
Budget 2022 | Government rolls out tax regime for all virtual assets, experts hail move 'legalising' crypto
Budget 2022 | Over the past year, there has been a boom in individuals investing in cryptocurrencies, with exchanges crossing millions of users
BUSINESS
Economic Survey 2022: Over 22 crore unorganised workers registered on govt's e-shram portal till mid-January
The portal provides an accidental insurance cover of Rs 2 lakh for a year to all the eligible registered workers. The cover can also be used during any national crisis or pandemic-like situations, said the survey.
BUSINESS
Five key takeaways from Boat's IPO prospectus
Despite having marquee investors, company founders Sameer Mehta and Aman Gupta together own over 50% of shares in the company, with each holding a 28.26% stake.
BUSINESS
ShopKirana raises $38 million in Series C led by Info Edge, others
The company aims to add a new city every 15 days this year and grow its presence in 30 cities by this year end
BUSINESS
Youtube's gaming head Ryan Wyatt set to join Polygon Studios
Polygon Studios is the gaming and non-fungible tokens, or NFTs, arm of Polygon, earlier known as MATIC, the namesake layer-two Ethereum scaling network.
CRYPTOCURRENCY
Crypto startup Flint raises $5.1 mn seed funding led by Sequoia and GFC
Coinbase Ventures, Hashed, IOSG, Better Capital and MSA Capital participated in the round along with other 11 institutional investors and angels.
BUSINESS
Crypto crash: No signs of panic selling, Indian investors holding on or buying the dip
Cryptocurrencies saw a massive fall on January 21 after the US Federal Reserve's decision to hike rates by March spooked global markets.
BUSINESS
Ola Electric raises over $200 million at valuation of $5 billion from Tekne Private Ventures, Edelweiss, others
Ola Electric, which was spun out of the ride-hailing major Ola in 2019, has been facing a lot of backlash from customers after it started its deliveries in mid-December.
BUSINESS
Content to commerce: How D2C brands are riding high on influencers
With many D2C brands acquiring content and influencer marketing platforms to beef up their content-to-commerce play, India’s influencer market is expected to more than double in size to Rs 2,200 crore by 2025.
BUSINESS
Companies battle high costs, infra bottlenecks to meet Delhi's electric vehicle mandate
The Delhi government has mandated that all ride aggregators and delivery services will have to switch to EVs when reinforcing their fleets. High costs, gaps in the supply chain and charging infrastructure loom as potential impediments in the effort aimed at reducing vehicular emissions in the national capital, ranked among the world’s most polluted cities.
BUSINESS
Unmasking Zorro: A social media app that lets you don a mask but slashes away at rowdy mischief
The pseudonymous social media platform is all set to launch next month. It was founded by Jasveer Singh, Abhishek Asthana (known as Gabbbar Singh on social media), and Deepak Kumar, and has already raised over $3.2 million in funding.
BUSINESS
Ola’s first employee Pranay Jivrajka starts up Allo Health, raises seed round
Prior to starting up, Jivrajka worked with Ola for almost a decade and headed Ola Foods from 2017 till early 2021.
BUSINESS
Curefoods raises $62 million from Iron Pillar, Chiratae, Binny Bansal, others
The cloud kitchen startup is likely valued in the range of $250-$400 million, according to industry sources.
BUSINESS
Online food delivery to get costlier amid rising inflation, discount demands
Prices of everything from cooking gas to edible oils have shot up, and food aggregators are demanding deeper discounts to expand their own order volumes in the face of the pandemic’s third wave.
STARTUP
Bombay Shaving Company raises Rs 160 crore in Series C
Last year, BSC forayed into women’s hair removal with ‘Bombay Shaving Company–Women’, which now accounts for nearly 25 percent of its business
BUSINESS
Ninjacart announces ESOP buyback worth Rs 100 crore
Last December, Flipkart India and Walmart invested $145 million in the Bengaluru-based company.
CRYPTOCURRENCY
Taking a cue from WazirX crackdown, crypto exchanges may have found a way to pay tax on crypto commissions
Right now, the tax department has internally interpreted crypto currencies as a digital asset. However, there is no official categorisation of digital assets under GST laws, they say.
BUSINESS
Foodtech majors take new measures on New Year's Eve
Amid rising COVID-19 cases, night curfews have been implemented in a number of states including Karnataka, Delhi, Madhya Pradesh, Uttar Pradesh, Assam, Kerala.
BUSINESS
SoftBank-backed GlobalBees turns a unicorn with $111.5-million Series B funding
The funds will be used to strengthen its product portfolio and expedite its efforts towards product innovation, customer experience, hiring talent and scaling companies
BUSINESS
Distribution and logistics startup Ripplr raises $12 million
The funds will be used to scale the business into new geographies and build robust tech capabilities including product development, attracting new talent.
BUSINESS
Entrepreneur Pankhuri Srivastava passes away, startup ecosystem mourns
Venture capitalists and top executives mourned the untimely demise of entrepreneur Pankhuri Srivastava on social media.
BUSINESS
Venture capital investment in Crypto, Web 3 start-ups soars
Funding in the space may increase 5-6 times next year with more global venture firms looking at the space. Clarity on regulation, towards which India has begun to move, will also boost investments.
