There are 122 startups in India who are likely to enter the unicorn club in India, according to a report by Hurun. The ones which may achieve a billion dollar valuation in two years are termed as gazelles and those who are likely to do so in four years are called cheetahs in the report
Aatrey’s comments come at a time when high-growth tech companies, which got listed on the bourses last year, including unicorns such as Paytm, Zomato, and PolicyBazaar, among others have been dumped by public market investors as these firms have never managed to show a company-level profit.
The debenture issue follows the company's Series C round where it raised $50 million
Mehta said targeting schools is the best way to improve the learning outcomes of children. The company plans to stay away from tuition and test prep.
"There was a time when India was nowhere in the race of startups. Today, we are the third-largest startup ecosystem," Modi said, while addressing the Indian diaspora in Munich.
The edtech company, which got valued at over a billion dollars in September last year, reported a fourfold increase in expenses to Rs 744 crore for FY21 from Rs 186 crore a year earlier, as employee benefit expenses rose to Rs 408 crore in FY21 from Rs 88 crore in FY20
The company said that the rebranding is in line with its plans to expand its footprint globally starting with UAE.
The sentiment suffused thousands of founders, investors, bankers, and advisors among others, who attended the India Unicorn Summit 2022 arranged by TiE Mumbai at the exuberant Jio World Convention Centre in Mumbai last week.
Expedited action from both the policymakers and entrepreneurs is crucial for India Inc. to claim its rightful share of the pie, and usher in the next wave of ‘green unicorns’
India’s UpGrad Education Pvt, founded by Ronnie Screwvala, increased its valuation to $2.25 billion in the round that included billionaire James Murdoch’s Lupa Systems LLC and US testing and assessment provider Educational Testing Service, according to a person familiar with the deal.
The company's move into the online space comes at a time when edtech firms such as Unacademy and Byju's are going the opposite way by launching physical centres as competition grows in the offline space
Founded in 2017 by former PayU and Citrus Pay executives and serial entrepreneurs Anish Achuthan, Mabel Chacko, and Ajeesh Achuthan, along with Deena Jacob, Open focuses on small and medium-sized businesses by offering them a business current account. Their next big bets include revenue-based financing early settlement, working capital loans, and business credit cards to SMEs on its platform. Open is aiming to disburse $1 billion in loans through the new suite of products on the platform in the next 12 months. In this episode of Bits to Billions, the founders opened up to Moneycontrol's Chandra R Srikanth on the early years, why Open is relevant, and the criticism that family dominates the leadership.
According to Moneycontrol estimates, the Kunal Shah-led company has raised the money at a valuation of almost $6.22 billion. Existing investors Tiger Global, Sofina Ventures, Alpha Wave Ventures and DF International also participated in the funding round
Purplle becomes India's 102nd unicorn or a startup valued at $1 billion or more. The company raised the latest round at a valuation of $1.1 billion
With its newly-secured $100 million funding, Edtech startup Physics Wallah is looking to expand its business by opening more offline centres and introducing courses in vernacular languages
On the sidelines of Visitor’s Conference 2022, President Kovind met distinguished donors and philanthropists who have donated to IISc Bangalore and IIT Madras to strengthen the educational infrastructure and develop new research and innovation centers at these institutions.
PhysicsWallah raised the money at $1.1 billion valuation, becoming India's 101st unicorn, the company said. PhysicsWallah said it plans to use the funds for business expansion, branding, opening more offline learning centres, and introducing more course offerings, the company added.
OneDirect’s notable customers have a strong overlap with those of Gupshup and include brands like Canara Bank, Tata Capital, SBI Card, and Paytm, among others, Gupshup said.
"My students inspire me, that’s what keeps me going," says the PhysicsWallah cofounder who shunned an offer worth millions
They aimed to ride a boom in India’s tech startups, which raised a record $35 billion in new funds in 2021, but the tide has since turned, as corporate governance concerns loom large for investors facing a new uncertainty in global markets.
There is a chance for India to go up even further in the unicorn pecking order as China has recently cracked down on its tech companies in order to gain better control over them. This has made investment into China, till recently the technology hub to be in, less attractive
Vedantu’s move of laying off employees comes amid murmurs that the edtech sector in India is slowing down with schools and physical tuition classes reopening, thanks to decreasing Covid-19 cases across the country.
When we are targeting the number, we are contemplating whether it will lead to 25% margin or 30% margin. Anywhere above 25%, we shall be super happy, says Krishna
VerSe cofounder Virendra Gupta says the biggest challenge for a short-video platform is to read the mind of the consumer and give them the content they want. He says the short-video space is a competitive and big space and, in an oblique reference to the ShareChat-MX TakaTak deal, questions the consolidation of two loss-making businesses.
Zoho CEO Sridhar Vembu said, "Nobody in the family assumes that they have some wealth that they can draw from. They all want to work for their living."