Google to start enforcing Play billing policy in India, claims less than 60 developers will pay service fee of over 15%
This fee would be further reduced by 4 percent if a user pays through an alternative billing system, the company said.
ZestMoney eyes new funding round from existing investors as part of revival plan
In April, PhonePe extended another credit line to ZestMoney.
Govt launches AI-based portal called Sanchar Saathi to nix telecom frauds
Union Minister Ashwini Vaishnaw said that the government is working with WhatsApp and other OTT platforms to de-register the numbers from their platforms which are found out to be fraudulent.
Mobile Premier League makes African debut with app launch in Nigeria
Mobile Premier League has partnered with Africa's largest mobile gaming publisher Carry1st to deliver a more localised and engaging gaming experience to consumers.
ZestMoney 2.0: New leadership, assured variable pay for employees & profitability goals set
ZestMoney will be run by new leadership team of Mohit Chhajer, Mandar Satpute and Abhishek Sharma. The startup has 150 employees
Cred-owned Happay sacks 35% of staff in a restructuring exercise
Kunal Shah-led Cred acquired Happay in a cash-and-stock deal worth $180 million to add to its suite of fintech offerings in 2021. The company's early backers include Sequoia and Prime Venture Partners,
Government announces $2 billion investment in Mohali's Semiconductor Laboratory
Govt to establish India Semiconductor Research Institute that will serve as a centre of excellence, which will work with institutes like IIT Delhi, IIT Chennai and others in a hub-and-spoke model
SoftBank offloads 2% stake worth $120 million in Paytm
Post the sale, SoftBank will have around 11.17% stake left in Paytm which is around 70,809,082 shares.
Vanguard slashes Ola's valuation by 35% to $4.8 billion
This is the third valuation markdown of Ola by the same investor. Vanguard Group cut the value of its investment in the ride-hailing firm by 45 percent in the first half of 2020 and another 9.5 percent in 2021.
Cisco to make in Tamil Nadu, targets $1 billion in domestic production and exports
The Tamil Nadu facility will create 1,200 jobs, says Cisco CEO Chuck Robbins
Karnataka Election 2023: Startup founders and investors seek acceleration in ongoing infra projects
Founders and investors also urged voters to step out of homes and make the effort to vote if they wanted to see the state, especially Bengaluru, become more conducive for startups.
Razorpay to move parent entity to India from US ahead of IPO plans
While a reverse flip to India is a costly affair, Razorpay will be able to manage the same with its available funding, Sources told Moneycontrol. PhonePe's which recently domiciled to India from Singapore said that its investors had to cough up almost Rs 8,000 crore in taxes.
Zoho's new Ulaa browser takes on Google Chrome and FireFox
Google Chrome currently leads the web browser market with a 63.45 percent market share as of April 2023, followed by Apple's Safari with 20.48 percent
Freshworks' drop in net dollar retention rate not a concern, says CEO Mathrubootham
Tiger Global sold its entire 23 percent stake in Freshworks just weeks ago and Girish Mathrubootham says he is happy the company fulfilled its responsibilities and generated superior returns for its early backer
Chart of the Day: BOT projects could ease NHAI’s debt servicing woes
Rising share of HAM model in overall ordering of road projects has increased NHAI’s debt servicing liability, perhaps limiting the pace of orders
SaaS firm Pando raises $30 million in Series B
The company stated that it plans to use the fresh funds to support Pando's growth in various geographies and industries.
Live: US Fed Hikes Rates By 25 Bps | Jerome Powell On Outcome Of FOMC Meeting
Fed Reserve Chief Jerome Powell announces key decision on rate hikes after a 2-day meeting of the US Federal Reserve. Watch!
BluSmart raises $42 million in a mix of equity and debt from existing investors
Over 50% of the total capital infusion came from founders, Anmol Jaggi and Punit Goyal, themselves to increase their stake in the company, people added. This is part of the company’s Series A2 round.
Chiratae Ventures announces close of Maiden Growth Fund-I at Rs 1,001 crore
The Chiratae Funds collectively (across 6 funds) have $1.1 billion in AUM (Assets Under Management), made around 130 investments, 48 exits, 8 Unicorns, and 3 IPOs.
Freshworks clocks first-ever operating profit at $3.9 million, revenue up 20% YoY in Q1CY23
The SaaS firm had a free cash flow of $9.1 million in the quarter under review up from negative $1.4 million in the first quarter of 2022.
EV financing startup Ohm Mobility raises Rs 3 crore in pre-seed funding
Founded in 2020 by Oxford alum Nikhil Nair, Ohm is an EV-focused financing platform.
KredX receives final approval from IFSCA to facilitate cross-border trade finance
KredX GTX Aims to execute over $500 million by the end of 2023 and an overall $2 billion worth of transactions in the next 18 months.
Tiger Global-backed savings startup Jar to foray into digital lending business
Jar’s move to jump on the digital lending frenzy comes at a time when several fintech startups, including some of the most-valued companies in India, are putting their foot down on lending, as India continues to remain a credit-starved market.
Shared electric mobility startup Yulu launches e-scooter for personal ownership
As per the company, the Yulu Wynn offers allows individuals to have ownership experience through its mobility subscription packs that reduce the upfront cost of ownership by 40 per cent.
