Cheerio AI, an AI-powered customer engagement platform, has raised Rs 8 crore in seed funding to build multi-modal AI capabilities and expand its platform.
Escalating geopolitical tensions in West Asia are prompting investors with exposure to Dubai's real estate market to reassess their portfolios. And, in this rejig, India is emerging as a stable destination for capital investment and long-term growth.
Of the donations, 48% is in kind -- such as food, clothing, or other household goods -- followed by cash (44%) and volunteering (30%) with non-profits, religious institutions, or community groups.
Investors and startup executives are calling for extending the period for an entity to be recognised as a startup from 10 to 15 years for deep-tech companies.
For the first time in India, the facility enables 3D printing of aerospace and rocket components up to one metre in height.
Investors attribute the revival to the country's strong public markets, which are boosting confidence in initial public offering (IPO)-bound startups offering viable exit opportunities.
Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
Events proved that on every count the RBI had accurately predicted both the damage and the lack of benefit. What the RBI was hiding was the fact that Modi had ignored its concerns -- all of which turned out to be true -- and gone ahead anyway, asserts Aakar Patel.
The tide of startup-funding is turning in India, with a rising trend of overall funding while the deal sizes grow bigger. However, the spotlight now is on late-stage startups, many of which are seen to be headed for initial public offerings (IPOs). Record surge in stock markets and consistently improving performances of listed startups are understood to have turned the sentiment for the better, especially for those that exhibit a clear path to an IPO.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
For a segment that thrives on promise more than performance, the country's start-up ecosystem is refusing to get carried away by the funding this calendar year. This has created the highest level of uninvested venture capital in seven years as investors wait for corrections in the working and - more importantly - valuation of start-ups while looking for cockroaches instead of unicorns. "Investors are now keen to invest in companies that have good top and bottom lines.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
The Lucknow bench of Allahabad high court has expressed hope that the Centre will take an appropriate decision to ban cow slaughter and declare it as a 'protected national animal'.
ArthaKranti wants the government to abolish income tax and 56 other taxes and replace it by a banking transaction tax.
'There has to be an 18-month transition.' 'But if the government had some prior knowledge that the high value notes were being used for an imminent terrorist activity in the country, then we have to accept the step.'
Months before 8/11, MP, Haryana probed note ban
Consumers plan to spend most on clothes and fireworks this Diwali according to a survey. The second biggest spending will be on gifts.
A fortnight after their problem with Bank Artha Graha in Indonesia, a two-member team of Polaris leaves for Singapore Tuesday in a possible attempt at initiating arbitration over the dispute.
Physical advisors have been receiving tough competition from algorithm-based investment counselling and robo-advisories.
Get your lowdown of what's happening in Kannada cinema.
Billionaire and Mahindra Group chairman Anand Mahindra along with top Silicon Valley investors Naval Ravikant and Balaji Srinivasan are backing space tech start-up Agnikul as part of a new funding round. Chennai-based Agnikul said, on Thursday, that it has raised $11 million in Series A funding round led by Mayfield India. It is the largest funding round for a private Indian space technology company in the country. Existing investors pi Ventures, Speciale Invest and Artha Venture Fund also invested in this round.
Kautilya, widely known as pioneer of economics in India and author of Artha Shastra (rules of economics), was invoked for the fourth time in the country's annual Union Budget speech on Friday, including thrice by the incumbent Finance Minister Pranab Mukherjee.
Polaris Software Lab Ltd's board on Monday recommended initiating 'arbitration proceedings' in Singapore to resolve the commercial disputes with Bank Artha Graha.
Polaris chief Arun Jain and his colleague Rajiv Malhotra who were released by Indonesian police on Friday may get back their passports and other related documents on Monday.
Scared by the experience in Jakarta, Polaris Software labs has decided not to do any business in Indonesia at least for a year and is considering arbitration against Indonesian Bank Artha Graha in Singapore on the dispute with it.
The 'Diwali Home Buying Fest' would be organised from Nov 3-9.
The Central Bureau of Investigation on Saturday conducted searches at 56 places, including the premises of Biju Janata Dal MLA Pravata Tripathy and owner of a local newspaper in Odisha, in connection with the multi-crore Saradha chit fund scam.
Ratan Tata invested about $299,000 during the first six months of 2016.
'We often assume that Ayodhya is Ram's property and Hastinapur is Yudhishthira's property when, in fact, it is their responsibility.' 'A king exists, as per Hindu philosophy, only to ensure that other people's property is safe,' explains Devdutt Pattanaik.
'When you start distributing wealth, you end up distributing poverty.'
Mumbai-based BabyChakra is among the four start-ups Google has shortlisted from India for the fifth batch of its mentorship programme
'People are willing to face temporary inconvenience as they are determined to support PM Modi's crackdown on black money,' Commerce Minister Nirmala Sitharaman tells Archis Mohan.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
So by and large most of the mistakes by retail investors are committed because of lack of access to quality advice.
'A bit of foresight would have helped.' 'Isn't it common sense that this is sowing and wedding season?' 'The plan is indeed unquestionably revolutionary, but better preparedness could have avoided such teething troubles.'
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