startup

December 08, 2022 01:05 PM IST

Funding in SaaS startups up 5 times YoY, to $500 million, in November 2022

SaaS startups have raised $5 billion to date in funding since the beginning of 2022, according to data research and analysis firm Venture Intelligence.

BharatPe seeks Rs 88 crore in damages from Ashneer Grover & family; files criminal complaint with EOW

Senior Advocate Mukul Rohatgi, representing BharatPe, also requested that the court intervene to restrain Grover from continuing his 'vitriolic campaign' against the company on social media.

EV financing startup Vidyut raises $4 million in seed funding

Founded in 2021 by Gaurav Srivastava and Xitij Kothi, Vidyut aims to make commercial EV ownership affordable and a risk-free proposition for customers through its ownership plans

Exclusive: Meta policy chief Nick Clegg gets WhatsApp traceability ultimatum from India

Senior officials tell Clegg that it can keep going to the courts, but the traceability obligation will be enforced one way or another

Newly formed association of Mumbai startup founders met Maha Deputy CM Devendra Fadnavis

The Tech Entrepreneurs Association of Mumbai (TEAM) consists of Mumbai-based startup founders that have come together in a first-of-its-kind initiative to establish brand Mumbai as a startup hub.

Tiger Global-backed Vedantu lays off another 385 employees to focus on profitability

Employees from across verticals have been laid off but learning content, HR (human resources) and sales enablement teams are the most affected teams

Exclusive: Govt pushes Meta for 1 hour turnaround time on content takedown orders, says Google better on compliance

Union IT minister Ashwini Vaishnaw also told Meta that it needs more fact-checkers in India in proportion to the country's population and the user base it commands for its social media platforms.

Budget 2023: NASSCOM seeks tax sops to incentivise funding, employment for startups

The wishlist ranges from making the deferment of ESOP tax payment available to employees of more startups to a reduction in MAT for eligible startups

Unacademy-backer Blume Ventures marks final close of its largest-ever fund at $250 million

Through Blume Fund IV, it will invest in 30-35 companies across different technology verticals, the VC firm has said

From being actors to entrepreneurs, social media influencers are going beyond brand deals 

India has around 80 million online creators, but only 150,000 of them are able to monetise their services effectively, said a Kalaari Capital report on influencers. Out of these 150,000 professional content creators, the majority earn anywhere around Rs 16,000-Rs 2 lakh per month. 

Online consultation platform DocsApp shuts down, merges with parent MediBuddy

The merger was first announced in June 2020, in a cash-and-stock deal. Back then, the company said both brands had agreed to continue existing independently

Tiger Global, SoftBank are the culprits. They are the bad guys: Inventus Capital's Kanwal Rekhi on private market slowdown and correction

In a no holds barred interview, Rekhi said SoftBank pushed for growth instead of profitability and that a growth-stage startup with no profitability is nonsense.

ITC veteran Sanjiv Rangrass joins early-stage VC firm Unitus as venture partner 

The VC firm added Raj Nooyi has also joined as Venture Advisor. Nooyi is a former executive of companies such as Hewlett Packard, PRTM, Tata Consultancy Services, and IBM

No credible competition in school edtech space: LEAD’s Sumeet Mehta

“Revenue growth in FY22 over FY21 was 2.5x, and in FY23 over FY22 could be about 2x. We will aim to double our business in the next year also. In terms of profitability, we are on track,” Mehta told Moneycontrol.

Tiger Global Series A participation up 80% on year as startups face funding winter

Tiger Global has participated in Series A rounds totalling $458 million in the first 11 months of 2022, an increase of 80 percent compared to the same period in the previous year

Decarbonisation platform Accacia raises seed funding led by Accel and B Capital

Both B Capital and Accel Partners raised new funds of around $250 million and $650 million respectively earlier this year

NEP and NCF: Tailwinds for school edtech

UPI clocks 19.65 billion transactions at Rs 32.5 trillion in Q3 2022: Worldline’s India Digital Payments Report

Overall, In Q3 2022, UPI, Debit and credit cards, and prepaid payment Instruments like Mobile Wallets, and prepaid cards executed 23.06 billion transactions amounting to Rs 38.32 trillion.

HealthKart raises $135 million in funding led by Temasek

In a statement, the company said it will use the capital raised for the growth of in-house D2C (direct-to-consumer) brands, increase offline distribution, expand international operations, and make select acquisitions.

Budget 2023: After surcharge cap, PE/VCs seek LTCG parity on unlisted and listed shares

At present, the LTCG tax on unlisted stock held for more than 24 months is double that of listed equity shares held for a year.

Rohan Murty’s venture Soroco wants to make white collar work more effective

Founded in 2014 by Infosys founder NR Narayana Murthy’s son Rohan Murty, Arjun Narayan and George Nychis, Soroco has built a product called Scout that generates a work graph, which maps how teams experience digital work

Chiratae-backed Healthifyme latest startup to resort to layoffs, 150 staff sacked

HealthifyMe said the decision came as the company’s growth did not match expectations. In India, technology startups have let go off close to 18,000 employees this year

KreditBee raises $80 million in Series D round from existing investors

KreditBee will use the funds to venture into secured loans, home loans, and credit lines. It will also add financial services like insurance, credit score report, and merchant-side offers, among others.

Temasek-backed Mohalla Tech lays off 115 employees, shuts down fantasy gaming vertical Jeet11

Fantasy gaming platform Jeet11 was launched in 2020, to compete with Dream11 and Mobile Premier League (MPL).

Flipkart partners with Polygon to to set up a Blockchain-eCommerce Centre of Excellence

Through Flipkart Labs, the e-commerce major has been piloting with Web3 initiatives over the past year. Earlier this year, it launched FireDrops, an NFT platform for brands. During the festive sale, Flipkart piloted its metaverse - called Flipverse.