BUSINESS
Boosted by COVID-19, global ed-tech funding crosses 2019 mark with 3 months to go: Report
Compared to this year, ed-tech startups raised $4.8 billion across 604 rounds in 2019. Despite the funding boom this year, there were only 377 rounds -- the lowest in four years -- indicating larger cheque sizes per startup, with winners raising an outsized portion of the total capital.
BUSINESS
Virtual events startup Airmeet raises $12 million led by Sequoia India
Airmeet claims to have grown nearly 2,000 percent over the last quarter organically through word of mouth and social media, gaining one new customer per hour, and by July 2020 had hosted over 10,000 events on its platform
BUSINESS
LTCG exemption, lower tax for domestic investors to boost startup ecosystem: Govt panel
The government was also cautious about the large amount of foreign capital, including Chinese money, in Indian startups.
BUSINESS
Exclusive: PharmEasy FY20 revenue nearly doubles to Rs 637 crore
PharmEasy’s trading entity, run by Thea Technologies Pvt. Ltd earned Rs 637 crore in FY20, compared to Rs 340 crore in FY19, according to its unaudited financial statements. Its losses before tax for the period also doubled to Rs 100.7 crore from Rs 50 crore a year earlier.
BUSINESS
Dream11's parent firm raises $225 million from Tiger Global, TPG, ChrysCapital
While the company did not disclose the valuation, a source said the gaming unicorn was valued at $2.5 billion, more than double the $1.1 billion it was valued at in April 2019.
BUSINESS
EkAnek raises $5.4 million from Falcon Edge fund AWI
The new-age e-commerce startup runs a beauty and grooming platform Foxy, which offers customers a personalised shopping experience that incorporates selfie-analysis and targeted curation
BUSINESS
UV air filters to holographic lift buttons, startups offer tech solutions to make offices Covid-safe
From the lobby to the desk, a CB Insights report shows how startups are offering solutions to keep the coronavirus out of the office building.
BUSINESS
Zomato plans to file for IPO in 2021 first half
Zomato, currently valued at $3.5 billion, plans to file for an initial public offering in the first half of next year, although whether it will list in India or the US is unclear.
BUSINESS
Excitement is back in startup world as venture capitalists return
Investors start discussions with many firms after COVID-19 fears made them leave the scene. Dailyhunt, ShareChat, Dream11, and WOW Skin are just a few examples. India exposure of many foreign funds seeing an increase. Edtech sector still the big draw.
BUSINESS
For startups, the CFO role comes of age
Startups, so far largely driven by founders, investors and slick products, are now hunting for CFOs left, right and centre, paying top dollar, offer favourable stock options, and even a board seat in some cases.
BUSINESS
Exclusive | Dailyhunt seeks $1.2 billion valuation, unicorn tag in fundraise
If the $100-million funding round comes through, Dailyhunt will be India's newest unicorn and a rare success story in the content-startup space.
BUSINESS
This Indian startup wants to be the new CamScanner, without abusing data. Will it work?
Kaagaz Scanner, which has had 1.1 million downloads after it was launched in mid-June, works offline—for now— and doesn’t store data.
BUSINESS
Toppr raises Rs 350 crore Series D funding from Foundation Holdings
The startup will use the money to develop an operating system to provide a standardised in-school and after-school learning experience.
BUSINESS
Exclusive: Sequoia India loses senior executive
The executive has not decided her next career move yet but will possibly continue early stage biotech investing elsewhere
TRENDS
Book Review | Facebook: The Inside Story by Steven Levy
American technology journalist Levy, a veteran of half a dozen books and Editor-at-large for Wired, got unprecedented access to Zuckerberg.
STARTUP
Coronavirus puts founder-VC relationship to the test
Video calls and online conferencing can never be a substitute when it comes to convincing potential investors, say founders. At stakes now are tough decisions like laying off employees, saying no to potential deals and postponing funding rounds.
BUSINESS
Fourth Partner Energy raises $15 million from Swiss investor responsAbility
This is the Zurich-based investor's third round of debt in the solar company, after earlier rounds in 2016 and 2017.
BUSINESS
Exclusive | PharmEasy in talks to acquire Medlife for $200 million
Medlife has been looking to raise $100-150 million in growth capital for over a year but has not found an investor.
BUSINESS
Inside India's online education boom
Critics say most companies are overvalued and long-term growth is a big question, but industry insiders say it is just the beginning of something big.
BUSINESS
Coatue leads $100 million round in Vedantu, valuation jumps to $600 million
Founded by Vamsi Krishna, Pulkit Jain, Anand Prakash and Saurabh Saxena in 2011, Vedantu currently provides live coaching classes for K12 students, including for entrance exams such as IIT JEE Main and Advanced for engineering and NEET for medical colleges
BUSINESS
RIL AGM 2020: Why are sworn rivals Facebook and Google coming together in India’s Jio?
Google and Facebook have competed for ad dollars in every common market they are present- which is much of the planet (barring China).
BUSINESS
Exclusive | SoftBank in talks to back Unacademy at $1.2 billion valuation
If completed, investment could thrust online education platform into unicorn club.
WORLD
Book review: No Filter: The Inside Story of Instagram - a pacy, breathtaking read
Of course, like most technology novels of the past decade, even ones where he does not have an active role, Mark Zuckerberg is the most important factor of this book.
INDIA
Online teaching is hot skill now, but what does it take to get there?
Vocal intonation, short notes and activities to regain drifting student attention are the key. Many institutes are even hiring actors to train teachers on how to face the camera and on keeping eye contact
