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Invesco Marks Down Valuations Of IPO-Bound Swiggy, Pine Labs
US-based fund manager Invesco marked down the valuations of its portfolio startups, IPO-bound Swiggy and Pine Labs, on its books at the end of April 2024. As per its half-yearly shareholder report...
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Prior Authorisation Mandatory For Operating Non-Indian Satellites Post March...
Post March 2025, only authorised satellites and satellite constellations will be allowed to offer space-based communication services in India. In an advisory dated July 10, the Ministry of Information...
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Infra.Market Bags INR 185 Cr Debt Funding From Yubi, Samunnati, Others
B2B ecommerce platform Infra.Market has raised INR 185 Cr (about $22 Mn) in debt funding from multiple investors. As per the startup’s filings with the Registrar of Companies (RoC), it raised the...
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Soaring High: ideaForge Eyes Exports To US, Canada To Shore Up Revenue
Listed drone maker ideaForge plans to bolster its presence in the US and enter new markets to expand its exports. In its annual report for 2023-24 (FY23), ideaForge chairman Srikanth Velamakanni said...
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SoftBank Exits Paytm At A Loss Of $150 Mn
Japanese tech investor SoftBank reportedly exited troubled fintech major Paytm in the June quarter (Q1) of the ongoing fiscal year at a loss of $150 Mn. Citing sources, news agency PTI reported that...
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Indian Startup IPO Tracker 2024
It’s the season of spring for startup IPOs. After a lull in IPOs in 2022 and 2023 due to geopolitical tensions, a raging funding winter, and macroeconomic pressures, startups are lining up in droves to...
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Indian GenAI Startup Tracker: 60+ Startups Putting India On The Global AI Map
Before November 2022, OpenAI was a little-known startup in the US. However, that very month, the company unveiled a chatbot, ChatGPT, which in just two months crossed 100 Mn monthly active users,...
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Excitel Cofounder Floats Incubator For J&K Startups, Eyes 24 Investments By...
Excitel cofounder Vivek Raina has joined hands with startup founders and other executives to launch an incubator to foster startups in Jammu & Kashmir. The incubator is led by Raina, along with...
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Dhruva Space Gets In-SPACe Authorisation To Offer Ground Station Services
Spacetech startup Dhruva Space has received authorisation from the Indian National Space Promotion and Authorisation Center (IN-SPACe) to offer ground stations as a service (GSaaS). In a statement,...
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After Teleperformance, BYJU’S Settles Insolvency Case With Surfer Technologies
Edtech major BYJU’S has reportedly settled its insolvency case with Gurugram-based IT services firm Surfer Technologies. As per Livemint, the IT firm last week informed the National Company Law...
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Temasek To Invest $10 Bn In India Over The Next Three Years
Singapore’s sovereign wealth fund Temasek plans to invest $10 Bn in India over the next three years. Temasek’s managing director (MD) for India investments, Mohit Bhandari, told Reuters that the...
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Months After RBI Notification, Banks Mull Setting Up SROs To Oversee Fintechs
Indian banks are reportedly gearing up to establish a self-regulatory organisation (SRO) to oversee the fintech sector. As per ET’s report, banks are planning to soon set up an entity to apply for an...
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GoMechanic Claims EBITDA Profitability in Q1 FY25, Clocks INR 85 Cr Revenue
Car servicing startup GoMechanic claimed that it turned earnings before interest, tax, depreciation, and amortisation (EBITDA)-positive in the first quarter of the fiscal year 2024-25 (FY25). In a...
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Policy Uncertainty Makes It Tough To Predict Profitability For EV Segment:...
Automaker Bajaj Auto’s managing director (MD) Rajiv Bajaj reportedly said that regulatory uncertainty makes it “tough” to predict profitability for the electric vehicle (EV) segment. As per Economic...
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Framework To Boost Ecommerce Exports To Be Ready By September: Commerce Secy
Commerce Secretary Sunil Barthwal has reportedly said that a regulatory framework to boost ecommerce exports will be ready by September. As per news agency PTI, Barthwal said India has the potential...
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Karnataka Job Quota Row: Andhra & Kerala Woo IT Giants, State Govt Puts Bill...
Amid widespread criticism of Karnataka’s job quota Bill, the state government has put the Bill on hold. In a post on X, chief minister Siddaramaiah said, “The draft bill intended to provide...
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Amid Competition From Ola Maps, Google Slashes Prices For Maps APIs For...
A week after Ola founder and CEO Bhavish Aggarwal rolled out one-year free access to Ola Maps for all developers, competitor and tech major Google said it will reduce the prices of its Google Maps...
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After Google Maps Cuts Prices, Ola Maps Announces New Pricing Structure To...
A day after Google reduced the subscription prices for its maps platform, Ola founder and CEO Bhavish Aggarwal announced a new pricing structure to woo developers to Ola Maps. In a blog post, Aggarwal...
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India Should Target $500 Bn In Electronics Manufacturing By FY30: NITI Aayog
The NITI Aayog in a report has said that India should aim to reach $500 Bn in electronics manufacturing by financial year 2029-30 (FY30). The government think tank also said that the target will help...
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Insolvency Proceedings Will Force Thousands Of Employees To Quit: BYJU’S CEO
Byju Raveendran, the founder and CEO of troubled edtech juggernaut BYJU’S, has reportedly said that the insolvency proceedings initiated against the startup will likely “force” thousands of its...
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