'We will take tough calls where needed in the interest of doing what is right.'
Sequoia Capital might emerge as leading global investor in start-up space in the country, as funds from other sources dry up.
'When AI comes in, coders in Bangalore or Hyderabad will lose their jobs.'
'More and more people from the middle class will become self-employed gig workers mostly working from home, rather than as office workers with salary, promotion, bonuses, etc.'
Venture Capital giant Sequoia India & Southeast Asia has rebranded itself to Peak VX Partners. The VC firm will now manage its assets under management (AUM) in the region of over $9.2 billion across 13 funds independently. The rebranding exercise followed Sequoia Capital's break-up into three independent entities across the globe. Besides Sequoia India & Southeast Asia, Sequoia China business has adopted the name HongShan in English (it will
The Central Bureau of Investigation has registered a fresh case of corruption against former finance minister P Chidambaram's son and Congress MP, Karti Chidambaram, for allegedly giving relief to alcoholic beverage company Diageo Scotland over a ban on the duty-free sale of its whisky, officials said on Thursday.
Bharti Group on Monday offloaded 10 per cent of its stake in Bharti Telesoft to a group of investors led by Westbridge Capital for $13.5 million.
Troubled edtech firm Byju's founder Byju Raveendran on Thursday said that he is willing to pay back the entire money to lenders if they are willing to work with him. During a two-and-a-half-hour call with the media, Raveendran said that lenders will not get any money if the process of insolvency against the company continues. "If they are willing to work with me, I am willing to give them money back before I take a single rupee out.
Stake sales by promoters and private equity/venture capital (PE/VC) investors this year are already exceeding twice those of last year. So far this calendar year, the selling stands at over Rs 87,400 crore, 2.2 times the Rs 39,700 crore worth of shares sold by promoters and PE/VCs in 2022. This year's tally has received a boost from stake sales by Adani group promoters.
Three marquee exits accounted for nearly 60 per cent of the total exit value -- BillDesk's acquisition by PayU for $4.7 billion, Paytm's $2.5 billion initial public offering (IPO), and Zomato's public market debut of $1.3 billion.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
Anandan, also an investor in multiple start-ups, is slated to join venture fund Sequoia Capital.
Finally, some good news for the Indian startup ecosystem. After four consecutive half-year periods of declining funding since 2022, the first half (H1) of 2024 has shown an upward trend compared to the second half (H2) of 2023. According to the India Tech Semi-Annual Funding Report H1 2024 by Tracxn, Indian technology (tech) startups raised $4.1 billion in H1 2024, marking a 4 per cent increase from $3.96 billion in H2 2023.
Two sectors, fintech and media & entertainment, attracted 45 per cent of total funding by value, led by large ticket deals such as CRED and Dailyhunt.
Edtech major Byju's founders Byju Raveendran and Divya Gokulnath are planning to increase their stake in the company to about 40 per cent and have initiated discussion with investors, sources aware of the development said on Wednesday. The founders jointly hold around 25 per cent stake in the company at present. "There is an intention of Byju's founders to double their stake in the company.
SoftBank-based e-commerce marketplace Snapdeal has deferred its Rs 1,250 crore IPO, joining the list of startups that have decided to shelve their initial public offering (IPO) plans this year. Snapdeal, which competes with Amazon and Flipkart, filed a request this week with the Securities and Exchange Board of India (Sebi) to withdraw its draft red herring prospectus (DRHP) amid a sell-off in tech stocks worldwide. "Considering the prevailing market conditions, the company has decided to withdraw the DRHP. The company may reconsider an IPO in the future, depending on its need for growth capital and market conditions," a Snapdeal spokesperson said.
Karnataka high court on Wednesday refused to stay an emergency shareholder meeting called by select investors of Think and Learn Pvt Ltd -- the owner of Byju's -- to oust the company's Founder and CEO Byju Raveendran and his family from the leadership in the edtech firm. Byju's had approached the Karnataka HC seeking a stay on the EGM but the court only gave an interim relief that any resolution passed at the EGM on Friday cannot be implemented before the next court hearing. "It is further submitted that the conditions for convening the Extraordinary General Meeting (EGM) are not complied and no notice is issued as contemplated under Section 100 (3) of the Companies Act 2013," the court order said.
This is the first investment in Asia from the Chan Zuckerberg Initiative, which was founded by Zuckerberg and his wife Priscilla Chan
Unacademy may see a funding dry spell for at least next 12-18 months and even last till 24 months and will cut costs to weather the lean period, said the chief executive of the education technology unicorn that recently laid off more than 600 employees. "This is a test for all of us. We must learn to work under constraints and focus on profitability at all costs. We must survive the winter," said Unacademy's co-founder and CEO Gaurav Munjal in a letter to the employees. "Winter is here. We are looking at a time when the funding will dry up for at least 12-18 months.
With the number of start-ups reaching the unicorn level falling drastically in 2023, the Hurun Unicorn Index said it has demoted eight gazelles - start-ups that were founded in 2000 and have the potential to go to unicorn in three years - to cheetahs.
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.
In a breather to the troubled edtech company, the steering committee of lenders has agreed to amend a $1.2 billion term loan with Byju's by August 3, 2023, the lenders announced on Monday. Successful execution of the amendment would "immediately" solve the loan's acceleration and end all open litigation while avoiding further enforcement actions, they in a statement. An e-mail sent to Byju's did not elicit a response.
Samant said he has been into R&D for the past 24 years and before joining GlobalLogic, he was president at Ness Technologies and had worked at Hewlett-Packard lab in India and also has worked at IBM labs.
The firm has raised $204 million from nine investors such as Sequoia Capital, Light Speed Ventures, and Aarin Capital, and hopes to hit the $ 1 billion valuation mark this year.
Foreign investment in India's start-ups has plummeted 72 per cent to $4.58 billion so far, from $16.2 billion during the same period last year.
If you are an entrepreneur and apprehensive that the global market meltdown will strain your fund-raising plans, fear not. India-focused private equity and venture capital funds raised $7 billion (Rs 27,958 crore) in 2007, excluding real estate, last year. They had garnered a similar amount in the corresponding previous year, according to data from Venture Intelligence, a venture capital research company.
WhatsApp was the biggest acquisition on the Midas list since it is the largest venture-backed private exit ever.
'What has happened at Byju's is no surprise to anyone.'
An Extraordinary General Meeting (EGM) of Byju's shareholders got underway on Friday to vote on a resolution brought by some investors to ouster founder CEO Byju Raveendran and his family over alleged "mismanagement and failures". Raveendran and his family stayed away from the EGM, calling it "procedurally invalid."
At least 14 of the top 20 venture capital (VC) and private equity (PE) funds in India reduced new deals with start-ups by a fifth in 2022. The number fell from 572 in 2021 to 456 this year, according to data from Venture Intelligence. Sequoia Capital, a leader in investments, retained its top slot but its number of deals fell from 110 in 2021 to 70 this year.
Moolchand Healthcare Pvt Ltd, the corporate entity formed by the group in 2006 with expansion in mind, is on an acquisition spree for hospital chains, IVF (in vitro fertilisation) clinics and pathological laboratories.
In these times of a slowdown in the job market, over 34 start-up companies from across states and 53 job seekers converged in Mumbai to find a fit for their professional needs -- taking the total number of interactions to over 1,400.
Investments are pouring into online portals for add-ons.
Multinational FMCG giant Reckitt Benckiser on Monday said it has agreed to fully acquire Ahmedabad -based Paras Pharmaceuticals Ltd for Rs 3,260 crore (Rs 32.60 billion).
The good news is that India is hitting critical mass across product categories like mobile telephony, auto and consumer electronics, to name a few.
Proto.in, a support platform for the Indian startup community picked up these young startups
Forget Starbucks coming into India. Witness the expansion of Caf Coffee Day, which is set to mushroom across the country.
Low delinquency rates, huge demand attract investors to the unique gold financing sector.
24/7 Customer, a $70 million BPO services provider, said that it planned to tap the capital market, but not in the immediate future.
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