BUSINESS
Direct-to-consumer brands could be a $100 billion market in 5-7 years, new report finds
The COVID-19 pandemic has also served as a catalyst to this space, as consumers were forced to ditch offline stores and order most things online. Indian D2C brands have raised about $1.5 billion in capital, with valuations of $12-15 billion in total.
BUSINESS
Digital lender Rupeeredee’s CEO steps down
Launched in September 2018, Rupeeredee helps customers source their loans online. It leverages digital Know Your Customer (KYC) norms and deep integration with lending partners to assist borrowers.
BUSINESS
Mamaearth seeks Rs 2,000 crore valuation, Sequoia may invest more
Mamaearth's valuation set to triple in barely a year, as the pandemic has boosted digital-first brands
BUSINESS
After the ban on Chinese investments, who is actively funding startups this year?
While there has undoubtedly been some impact, deals - small and large - have not stopped.
BUSINESS
Unacademy to buy back shares worth Rs 25-30 crore
About 145 current and former employees are expected to exercise their options to sell their Employee Stock Option Plans, given to early employees who join a startup as part of their salary.
STARTUP
Small-Town Startups I How a founder’s conviction about a tier-II city helped the firm raise funds
When Sibasish Mishra started Bookingjini, a software-as-a-service provider to hotels, in Bhubaneshwar in 2016, it looked like a strange choice. But now, its services are availed by 500 hotels in 5 states alone, and it has raised Rs 6 crore so far. An investor told Mishra: “I don’t know about your product, but your conviction to build it from Bhubaneswar had us sold.”
BUSINESS
Explainer: Why is fantasy gaming so hot, how does it really work, is Dream11 unique, and other questions answered
Whether it is a game of skill or a game of chance has long been debated. This question has reached the Supreme Court and the top court has suspended legal proceedings for now. It is legal in most states now. So, play and enjoy. If you’re lucky, you can get richer by Rs 1 cr.
BUSINESS
Exclusive: SoftBank in talks to back SaaS startup Mindtickle, valuation to double in a year
The investment will value Mindtickle at $500-600 million, double the $250 million it was valued at in July last year, when Norwest Venture Partners led a $40 million round.
BUSINESS
Law firm Cyril Amarchand Mangaldas unveils second batch of legal-tech startup incubator
Areas that CAM is looking for these startups to tap into include improving access to justice, making transactions more efficient, improving law firm operations, litigation competencies, accessing government programs and reforms and enabling remote workforce operations.
BUSINESS
Exclusive: Kunal Shah’s Cred in talks to raise funds; aiming a valuation of nearly $800 million
Cred was last valued at $450 million in August 2019 when it raised $120 million in Series A round.
BUSINESS
The story of Eruditus: How a Harvard alumnus saw a business opportunity where universities fell short
Eruditus started in 2010 and did not raise money for 6 years. Raising money this late, and raising money at all, changed the company's fortunes. How and why did it happen?
BUSINESS
Industry wants a peaceful resolution to Google Play Store billing issue, looking for website payments to continue
Most players want government to frame industry-friendly policies and release stronger anti-trust rules rather than get into the business of making and running an Indian app store
BUSINESS
Exclusive |Paper Boat, McDonald's owner, others in talks to acquire Raw Pressery in distress sale
Raw Pressery is best known for its cold-pressed natural sugarcane, orange and grape juices, among others. Industry insiders say its target market is too niche to build a large independent company and that too by raising large amounts of venture capital.
BUSINESS
How VCs are going beyond dealmaking to stay competitive
Sequoia Capital, Accel Partners and Lightspeed India Partners, among India’s most influential VCs, are conducting training and mentorship sessions, selecting companies for specialised support, and launching podcasts and lectures on various areas that a new entrepreneur will need help with
BUSINESS
Lee Fixel's Addition makes first India deal, leads $35 million round in InShorts
The news aggregator plans to use the funds for its location-based social media app Public that was launched in April 2019.
BUSINESS
Exclusive: PharmEasy changes internal legal structure, consolidates units for better valuation
The change in legal structure means that API Holdings will also own Ascent Health and Wellness Solutions Pvt.Ltd - a separate pharma supply chain and credit platform, which also acts as a business-to-business (B2B) distribution entity for PharmEasy.
BUSINESS
Ahead of festive season, Amazon infuses Rs 1,125 crore into India marketplace business
The e-commerce battle ahead of Diwali, Dussehra and other festivals is also heating up this year because of Reliance Jio, which has been scaling its JioMart e-commerce platform rapidly since its launch during the lockdown in April.
BUSINESS
Investment startup smallcase raises $14 million from DSP, Sequoia and others
Founded in 2015 by Vasanth Kamath, Rohan Gupta and Anugrah Shrivastava, "smallcases" are model portfolios of stocks and exchange-traded funds created and managed by registered individuals and entities and are accessible to retail investors.
BUSINESS
There is a shake-up in angel investing, and legacy angel networks are struggling to adapt
Once upon a time, angel networks were a crucial part of India’s startup scene. A decade on, these legacy networks are fighting for relevance as competition has shot through the roof, there are internal conflicts of interest, unhappy members and a business model being questioned.
BUSINESS
Unacademy acquires UPSC test preparation startup Coursavy
The acquisition comes on the heels of a large fundraise, where Unacademy raised $150 million led by Japan’s SoftBank. In the last few months, it has also acquired smaller startups such as Mastree, an online tutoring firm in the K12 space, and PrepLadder, a learning platform for medical entrance exam.
BUSINESS
The story of Wakefit: From near bankruptcy and successive failures to building one of India’s hottest new consumer brands
One Sunday night, Chaitanya Ramalingegowda, Wakefit's co-founder went to withdraw Rs 3,000 from his bank account and realised that this has to last him a week, because he had no other money. All his savings were invested in his startups, and he was even paying rent only by doing part time consulting again. He was approaching burnout.
BUSINESS
Byju’s raises funds from BlackRock, Sands Capital and Alkeon Capital
Byju’s has raised over a billion dollars in 2020 alone, more than the entire Indian ed-tech industry raised in 2019.
BUSINESS
These are the startups that may go for IPO in 2021-22
Whether the US stock markets will give these startups the valuation they want, is uncertain. Further, while IPOs are considered a sign of maturity and almost regarded as a badge of honour for startups, from the company’s point of view, staying private is a much better option, as it has to cater to fewer shareholders, regulation and disclosure norms are less exhaustive and regular share price fluctuation is not a concern.
BUSINESS
In boost to startups, Centre allows companies to list overseas before listing in India
Investors, entrepreneurs and the industry at large has been asking for such an amendment for a few years now because under the current law loss-making companies are not allowed to list in India
