Indian startups received about $6.5 billion in funding in the April-June 2021 quarter, while 11 of them entered the coveted unicorn club, a report by Nasscom-PGA Labs said. During the second quarter, 160 funding deals were closed -- up 2 per cent from the January-March period. "Q2 2021 has been impeccable for the start-up growth story. From being the most funded quarter, it has also added the most number of unicorns. "Standing tall during the pandemic second wave headwinds, Indian start-up ecosystem has shown a strong resilience in this quarter," the report said.
Investors spent much of 2016 cleaning house. And a VC tells Ranju Sarkar, "There's still some bad news left in the portfolios (of VC firms). What happens to Ola and Flipkart will drive sentiment in future."
India doubled its exports of smartphones to $11.1 billion (about Rs 91,000 crore) in 2022-23 (FY23) over the previous year's figure of $5.48 billion (Rs 45,000 crore), thanks largely to the Apple juggernaut, according to data from the India Cellular and Electronics Association (ICEA). Union Minister for Communications, Electronics & IT Ashwini Vaishnaw said: "With the doubling of exports of smartphones to over Rs 90,000 crore, India is well on its way to becoming a leader in the global mobile device market." On the flip side, despite the government prodding Chinese companies to export more, their smartphone shipments fell steeply by 26 per cent from $214 million in FY22 to $157 million in FY23.
A look at the top earners in global sport from June 2005 to June 2006.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
Canada has expelled an Indian diplomat as it was investigating what Prime Minister Justin Trudeau called 'credible allegations' of the involvement of 'agents of the Indian government' in the killing of a Sikh extremist leader in Surrey in June, claims outrightly rejected by New Delhi as 'absurd' and 'motivated'.
Freshdesk also launched an IT service management product Freshservice to offer cloud-based service desk solution for smaller companies for their internal IT support.
Woods delivered a speech about his career and those who helped him along the way after his daughter Sam introduced him for induction.
Walmart-owned Flipkart will undertake a buyback employee stock options worth about Rs 600 crore, according to sources Earlier in the day, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the e-commerce major at $37.6 billion (about Rs 2.79 lakh crore). In an e-mail to employees, Flipkart group chief executive officer Kalyan Krishnamurthy lauded the critical role played by the staff in reaching this milestone.
The ex-employee alleges that she was asked to 'walk out' when she elevated the issue to her bosses at TVF.
The company, backed by China's Ant Group, is planning to issue fresh shares worth Rs 7,500 crore in the IPO. This will make this India's third-largest offering after Reliance Power and DLF.
'Can Trudeau's evidence hold up? If not, he's finished.'
With a new $100-billion technology fund, SoftBank is likely to go after market leaders.
More than anything else, Pathaan is a silent and subtle statement of Shah Rukh Khan about his place, his commitment to cinema and, if one can say, his politics, observes Mohammad Asim Siddiqui.
Tencent reinforces India's consumer internet story. Ranju Sarkar reports.
ShopClues does 1.5 million transactions a month and claims to have 40 million monthly visitors.
Sellers on platform listed products out-of-stock on Monday against increased commission, fees on returns.
Afghan President Ashraf Ghani on Wednesday pitched for a coherent regional strategy to deal with terrorism
Mumbai airport, which has limited capacity for expansion, is being expanded to handle 40 million passengers annually by 2010.
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.
They encouraged start-ups to pay for acquiring customers rather than focusing on the business fundamentals.
A bench of Justices BR Gavai and Vikram Nath was told by the Centre in its application moved by additional solicitor general Aishwarya Bhati that a status report in this regard will be filed before the court within six months on the basis of the advice of the experts on the tanslocation of Asiatic lions from Gir to Kuno.
Cab-hailing service Ola is on the fast track on the back of a $500 million funding.
If divine intervention in 1992 was the heavens opening up against England in their do-or-die game, even the best bookies couldn't have predicted that the Netherlands would beat South Africa in 2022. A handful of them must have made a killing.
The pandemic has confined students across all ages to home and digital education is the only way to continue learning.
To create a community, the consumer can share the details of the offer with friends and family who want to buy the same goods.
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An industry source said the funding was part of an overall $500 million the company is planning to raise, which will value Ola at around $5 billion.
Even at early stage, start-ups are raising more money faster owing to the rise of a lot of specialised early-stage VCs and emergence of seed-stage programmes.
Home grown chat application, Hike Messenger on Thursday said it has acquired US-based voice-calling company Zip Phone for an undisclosed amount.
The stock-and-cash deal is the biggest in the education space.
'Any entrepreneur who wants to create companies on blockchain will have to move outside India.' 'A ban will also wipe out the entire asset investing class that has built up in India.'
'Why does a State that sees a national security issue at every turn not recognise the seriousness of the data from sensitive databases being breached?'
In his letters to Union environment minister Prakash Javadekar and Railway Minister Piyush Goyal, Thackeray said it would be appropriate to opt for alternative alignment of Akola-Khandwa line considering the long-term irreversible impact the work will have on endangered species like tigers.
As the curtain come down on 2022, Roshmila Bhattacharya flashbacks to some of the year's news-makers and events.
Fresher hiring is expected to more than double compared to last year.
The silver lining is that after two years, e-commerce has emerged as the top sector with $689 million in investments across 15 deals, accounting for 43 per cent of all investments in January 2021.
A combination of bank guarantees, letters of credit, buyer's credit for computer servers have been provided to the two local operational arms by Kotak Mahindra Bank and Deutsche Bank.
The identity of the new investor could not be ascertained.
The state government says Ola was using its existing cab aggregator licence to promote bike taxi services.
Talk to any member of the cabin crew on any Indian airline and you will hear the worst horror stories. Almost always, the targets of abuse in the air are female staff members who are called 'servants' or worse, points out Vir Sanghvi.
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