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Adya.ai Bags Funding To Help Enterprises Build Apps On ONDC
Enterprise tech startup Adya.ai has raised INR 10.5 Cr ($1.2 Mn) in its pre-Series A funding round led by Indian Angel Network (IAN). The round also saw participation from undisclosed ‘strategic’...
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Govt To Notify Amendment To IT Rules In A Week To Crackdown On Deepfakes
The union government is reportedly set to notify amendments to the IT Rules in the next seven days to crackdown on deepfakes, Minister of State for Electronics and Information Technology Rajeev...
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PhonePe’s Insurtech Bet: Sold 90 Lakh Insurance Policies In Past 2 Years
Fintech decacorn PhonePe on Thursday (January 18) said it sold more than 90 Lakh insurance policies since foraying into the space in September 2021. In a statement, the company said it sold 40 Lakh...
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After A Difficult 2023, Majority Of Indian Founders Optimistic About Investor...
The world’s third-largest startup ecosystem had a tough 2023 as global adverse macroeconomic factors coupled with wary investors and renewed focus on profitability dried up funding for most new-age...
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SC Set To Hear Google’s Appeal Against INR 1,338 Cr CCI Fines From April 30
The Supreme Court (SC) will reportedly commence hearing Google’s appeal against the National Company Law Appellate Tribunal’s (NCLAT’s) decision to uphold the Competition Commission of India’s (CCI’s)...
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From $22 Bn To $2 Bn — BYJU’S Looking To Raise $100 Mn At 90% Valuation Cut
Beleaguered edtech major BYJU’S is planning to raise $100 Mn to $200 Mn via a rights issue at a much lower valuation of $2 Bn. This is a nearly 90% valuation cut compared to its peak $22 Bn valuation...
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BYJU’S Earmarks INR 18.8 Cr As Potential Penal Liabilities For Non-Compliance
As beleaguered edtech giant BYJU’S released its financial results on Tuesday (January 23), mounting losses and red flags raised by its auditor grabbed immediate headlines. What also emerged was that...
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No Respite: Fidelity Cuts Valuation Of Meesho, Pine Labs Again
US-based asset management company Fidelity has once again slashed valuation of its portfolio startups Meesho and Pine Labs. As per filings seen by The Economic Times, Fidelity has slashed the valuation...
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Reliance Jio Partners OnePlus To Set Up 5G Innovation Lab
Telecom giant Reliance Jio on Thursday (January 25) announced a strategic partnership with smartphone maker OnePlus to set up a 5G Innovation Lab. In a statement, OnePlus said that the hub will serve...
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Ola Claims India Mobility Biz Turned EBITDA Positive In FY23, Appoints Hemant...
Ride-hailing giant Ola Cabs on Thursday (January 25) made a slew of announcements, including the appointment of Hemant Bakshi as the new chief executive officer (CEO) of Ola Mobility. At an event in...
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Perfios Eyes Public Listing This Year, Mulls A $500 Mn IPO At $2 Bn Valuation
Putting its public listing plans in full gear, fintech SaaS startup Perfios is reportedly mulling a $500 Mn (INR 4,156 Cr) initial public offering (IPO). Discussions are currently underway for a...
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Ola Expands Ebike Service To Delhi, Hyderabad; To Deploy 10,000 EVs In Next 2...
Ride-hailing giant Ola on Friday (January 26) announced the launch of its ebike service in two new cities – Delhi and Hyderabad. As part of the expansion plans, Ola Mobility will deploy more than...
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Societe Generale Offloads Zomato Shares Worth INR 117 Cr, Picks Up...
The ongoing sell-off by foreign institutional investors (FIIs) in the Indian equities market also hit new-age tech stocks in the last trading session of the week on January 25. Leading from the front...
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BNP Paribas On Block Deal Spree, Sells Shares Of Paytm & Policybazaar
Fintech major Paytm and insurtech giant Policybazaar saw a major sell-off during the last trading session of this week as financial services company BNP Paribas sold shares of the two startups via...
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Startup India: 1.14 Lakh Startups Have Created Over 12 Lakh Jobs So Far
The startups recognised by the Indian government have created more than 12 Lakh jobs, according to a report by the Ministry of Finance. In the report titled, ‘The Indian Economy: A Review January...
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Key Defence Body Flags Digital Lending Apps CASHe, Toop For Potential...
A key government defence body has flagged concerns over two digital lending apps, CASHe and Toop, citing potential security risks. In an advisory dated December 21, the Controller General of Defence...
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PharmEasy Rights Issue: Goldman Sachs, Prosus, Temasek Get CCI Nod To Acquire...
Close on the heels of PharmEasy’s ‘oversubscribed’ rights issue, the Competition Commission of India (CCI) on Monday (January 30) greenlit the proposal of the investors to increase their stakes in the...
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Interim Budget 2024: FM Announces INR 1 Lakh Cr Corpus To Fuel R&D In Sunrise...
Finance Minister Nirmala Sitharaman on Thursday announced that a corpus of INR 1 Lakh Cr will be established to spur research and development in the country in the sunrise sectors. The corpus will...
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Budget 2024: Digital Public Infra On Govt’s Implementation Priority List
The Centre’s ambitious digital public infrastructure (DPI) initiative has found multiple mentions in the implementation document of Budget 2023-24 announcements. Mentioning DigiLocker, the Finance...
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Budget 2024: Startups Make Merry As Govt Readies Patient Capital For Deeptechs
As finance minister Nirmala Sitharaman stepped up to present the interim Budget 2024, most industry watchers did not anticipate many major announcements. However, the FM surprised the startup ecosystem...
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