After Lok Sabha, Telecommunications Bill Passed In Upper House
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Over 100 Indian startups laid off more than 15,000 staff this year: Report
More than 15,000 employees were laid off by roughly 100 Indian startups in 2023 as funding winter persists. According to data sourced from Layoffs.fyi, cash-strapped Byju’s sacked 2,500 of its staff in the second round this year. The ed-tech startup’s founder Byju Raveendran pledged his home to raise funds for paying salaries to his employees….
Delhivery Surges Almost 7% Intraday After Launch Of New Trucking Terminal In Bhiwandi
SUMMARY Shares of Delhivery surged 6.8% to INR 389.35 during the intraday trading on Thursday (December 21), a day after the company launched its largest mega-gateway in Bhiwandi, one of India’s largest trucking terminals. However, the shares shed some of the gains and were trading at INR 388.15 on the BSE at 2.30 PM IST….
Macquarie Capital picks up minority stake in ChargeZone
New Delhi: Macquarie Capital has acquired a “substantial minority stake” in ChargeZone, a Vadodara-based company specializing in high-speed electric vehicle (EV) charging networks. The specifics of the stake and the investment amount remain undisclosed. This move is set to boost ChargeZone’s efforts in expanding its cloud technology-enabled EV charging network, aligning with India’s growing focus…
PhonePe Rolls Out Credit Feature On App To Help Users Manage Credit Cards, Pay Bills
SUMMARY Walmart-owned digital payments app PhonePe has rolled out a new feature on the platform that will allow its users to manage their credit cards as well as pay bills and loans. The ‘Credit’ section will enable users to view their credit bureau score without any additional cost, PhonePe said in a statement, adding that…
The Sleep Company raises ₹184 crore in Series C funding
MUMBAI : The Sleep Company, an omnichannel leader in the comfort-tech business, has raised ₹184 crore in Series C from existing investors Premji Invest and Fireside Ventures. The company, which provides both sleep and seating technology, will use the funding to grow its offline presence, expand in other regions and widen its product basket, the…
Agilitas Sports secures ₹100 crore from Nexus Venture Partners
New Delhi: Agilitas Sports, founded by Abhishek Ganguly, the former managing director of Puma India and South-East Asia, has raised ₹100 crore from Nexus Venture Partners. This funding is aimed at developing a range of consumer brands in the sports footwear and apparel sectors. Agilitas had secured ₹400 crore in May from funds managed by…
Hyperloop One is reportedly shutting down
One of the longest-running hyperloop startups is reportedly shutting its doors. Hyperloop One, once backed by Richard Branson’s Virgin Group, will cease operations on December 31 according to Bloomberg News. It’s the latest stumble in the tech industry’s attempt to bring life to an idea Elon Musk first put forth in a white paper in…
Indian startups witness 65.8% drop in funding between Jan-Nov 2023: GlobalData
Indian startups witnessed a 65.8% drop in funding in terms of value between January and November 2023, according to a report by Times of India. Citing data from GlobalData, Indian startups raised $6.9 billion across 1,013 venture capital (VC) funding deals in the past 11 months this year. Last year, the startups had raised $20.2…
BluSmart Nets $24 Mn In Fresh Funding To Build EV Charging Superhubs
SUMMARY Delhi-NCR-based electric mobility startup BluSmart has raised $24 Mn (INR 200 Cr) in a fresh equity funding round, which saw participation and over-subscription from its existing investors, founders and leadership team. The startup will use the capital to build large-scale EV charging superhubs enabling the expansion of its electric ride-hailing service. Founded in 2019,…