The move comes barely a week after fellow crypto unicorn CoinDCX laid off 12 per cent of its workforce - an estimated 80 employees - amid challenging macroeconomic conditions and regulatory uncertainty in the sector. CoinSwitch has 519 employees, according to its LinkedIn profile. This means around 8 per cent of its workforce were shown the door.
Lamborghini is focusing on bringing its new car models to India faster after the global launch of its Huracn Tecnica, its country head Sharad Agarwal said on Thursday, adding there is a lot more scope for the company to expand in tier I and II cities. "Typically, in the premium and luxury car segments, there is a lag of six to 18 months between a global launch and India launch," he said in an interview to Business Standard. The Italian carmaker launched the two-seater track-focused performance car - the Huracn Tecnica - here on Thursday four months after its global unveiling.
Jaipur-based start-up Logic Roots aims to teach children math skills through board games.
Swedish furnishing major IKEA, part of the Ingka Group, is inviting its investment arm - Ingka Investments - to India, a senior company executive said during an interaction in New Delhi. The move suggests that the group is looking at India as a priority market. The areas of investments being considered by Ingka Investments could range from taking stake in companies across sectors such as renewables, recycling, real estate, and software which synergise with IKEA's broader retail requirements.
The actress, who will now be seen on Bigg Boss OTT season 2, adores colours.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
The legal battle between Byju's and lenders in the US on the edtech firm's $1.2-billion term loan B (TLB), along with the company skipping an interest payment of $40 million on the loan, has made the other investor Davidson Kempner Capital Management, "extremely concerned", according to the people familiar with the matter. They said Byju's has closed a Rs 2,000-crore ($250 million) round from the US-based investment firm and it may stop or consider slowing down the flow of various tranches of that capital to the company. It may also decide not to provide any new funding or participate in any such round in the future, the sources said.
He also praised PM Modi for his leadership and said that it is the best time for both the countries to work together.
Ratan Tata said he continued to feel the need to support young entrepreneurs who were keen to unleash the Indian tiger.
The 2023 edition of the Indian Premier League (IPL) will see Disney-Star and Viacom18 competing to sell their ad space with an eye on the estimated Rs 4,000-crore advertising money.
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
Modi said the young and aspirational India understood the need for political stability to achieve faster development and had ended three decades of instability by mere touch of a button.
Jiomart B2B is the latest among organised supply-chain companies to bite the bullet, shutting down its warehouses, and asking its employees to leave. Why are companies finding it difficult to sustain the supply-chain business? Experts point out that gross margins in supplying fast-moving consumer goods (FMCGs) are very low.
Shardul also had a grand Sangeet and Haldi ceremony over the weekend, pictures of which went viral.
The drying up of funds for a number of start-ups is affecting the firms' unicorn status across the globe. The past six months have seen the valuations of 147 unicorns drop, of which 71 were from the US and 29 from China, according to the latest Hurun Global Unicorn Index 2022. Eighty-one unicorns from across the globe saw their valuations drop below $1 billion-the threshold for a start-up to be labelled unicorn-from last year.
Mitra Biotech's personalised cancer therapy could be a game changer in the field of cancer medicine.
Co-founders Vamshi Krishna Reddy and B Surya Shive Shanker of Apalya Technologies, which is betting big on live streaming of IPL matches till 2012 share their success mantras.
'All businesses have to be run for business, for profits on a sustainable basis. It may sound old school, but then I have been in business for 32 years and you can't change an old tiger's stripes.'
Finance Minister Nirmala Sitharaman on Tuesday met top officials of the finance and corporate affairs ministries to review the implementation of various announcements of the Union Budget FY24. "The finance minister underlined the importance of continuous assessment of progress to ensure that various announcements are implemented in a time-bound manner," the finance ministry said in a tweet. Sitharaman also discussed in detail various issues on the digital competition laws with Rajeev Chandrashekhar, the minister of state for entrepreneurship, skill development, electronics and technology.
BlueRun Ventures and Nokia Growth Partners, two venture capital firms supported by Nokia Corporation, hope to invest in one or two Indian start-up companies every year, senior executives said on Tuesday.
The total staff strength - once 1,100 - is now under 200.
'If OTT platforms had not come in, we would not get this second lease of life.'
Setting the tone for his 2024 re-election bid, Prime Minister Narendra Modi on Tuesday called for waging a war against the 'three evils' of corruption, appeasement and dynastic politics, stepped up the OBC outreach with a mega scheme and exuded confidence he would return to address the nation from the Red Fort next year.
This, Byju, was the time to apply the business lens, treat your company as a business, run your company as a business. Instead, you splurged, observes Suveen Sinha.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
In absolute numbers, India had only 211 start-ups compared to 970 in the US.
SoftBank-backed Inmobi has fired about 50-70 people on performance metrics. According to a source, the employees impacted are from Inmobi and the firm's lock screen-based content provider Glance. This comes even as the company announced that it will skip increments for CY23 and also undertake recruitment only when required. The Inmobi group has a total headcount of 2,600.
Prime Minister Modi's remarks on Thursday came during his address to a joint session of the US Congress. He attributed a big part of the success of India-US ties to Indian-Americans.
Burned by the shooting down of a MiG-21 aircraft and the capture of its pilot after a dogfight over the India-Pakistan border in February 2019, CATS eliminates the need to send pilots into enemy air space.
In a development that has huge financial implications for existing as well as new operators, the Telecom Regulatory Authority of India has recommended fixing the price for 6.2 Mhz of pan-India start-up 2G spectrum at Rs 10,972.45 crore (Rs 109.724 billion), more than six times the present cost of Rs 1,658 crore (Rs 16.58 billion).
The start-up works with 2,000 owners and hosts 10,000 tenants across four cities - Bengaluru, the National Capital Region, Hyderabad and Pune.
If we work together with dedication, concentration and effort, we should be able to achieve our aspirational growth target of double-digits for a very long period of time, suggests K V Kamath.
'To set up a successful business, one must have a solution to an existing problem or a better way of addressing the current solution.'
Aparna Athreya is enriching the lives of kids, parents and individuals through the start-up Kid and Parent Foundation.
HealthifyMe is an app that connects users to fitness trainers virtually, motivate them on goals.
Depression is not just stress, nor is it only sadness. Depression is an illness.
Sebi will join RBI and the government in their fight against bad loans.
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
US-based co-working operator WeWork, Lowe's India, SpiceJet and startups like CureFit stepped in to offer employment to the distressed workers at Jet.
Jobs in HR, administration and recruitment have seen a substantial rise as per Monster data with a 42% growth in job posting activity.
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