The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
In the last 12 months, over 7,500 Indians have applied for a resident permit.
Japanese conglomerate SoftBank Group on Wednesday said it has recorded loss from investments to the tune of USD 1.4 billion, or over Rs 9,000 crore, for 2016-17 in Indian startups like Snapdeal and Ola.
Private equity and venture capital funds' investment in the country continued to fall in May, with the overall values declining by nearly 44 per cent to $3.5 billion, a report said on Monday. The dedicated funds had invested $6.2 billion in May 2022 and $7.4 billion in the preceding month of April 2023, representing a dip of 44 per cent and 52 per cent, respectively, as per the report by industry lobby IVCA and consultancy firm EY. "Despite a recovery of sorts being seen in tech sector indices and some of the large global tech names, sentiment in India for tech sector investments has been lacklustre, and fundraising by Indian startups has been sluggish," the firm's partner Vivek Soni said.
Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
Investments by private equity and venture capital funds declined by 35 per cent to $4.4 billion in April compared with $6.8 billion in the year-ago period, a report said on Thursday. The number of deals in April stood at 98, which was 56 per cent higher than the year-ago period, the report by EY, a consultancy firm, and industry lobby grouping IVCA said.
The Competition Commission of India (CCI) on Wednesday declined an interim relief order that would restrain Google from levying service fees on app developers until a final decision is made by the regulator. The CCI also said the Director General (DG) would continue its investigation as ordered by the commission in its March 15 order. "The Commission is of the considered opinion that no case whatsoever has been made out by the informants which warrant the grant of interim relief. Resultantly, the applications stand dismissed," said the CCI while rejecting the plea by app developers in its order.
Global supermajor BP Plc's exclusivity with Reliance Industries Ltd has ended but the energy giant will continue to pursue oil and gas as well as mobility ventures in India with the Mukesh Ambani firm owing to an unwritten strategic partnership, BP's outgoing India head Sashi Mukundan said. BP in 2011 spent $7.2 billion to acquire 30 per cent interest in 23 oil and gas blocks of Reliance. Eastern offshore KG-D6 block was the cornerstone of the deal that also provided for a 10-year exclusivity period which meant that BP would take up energy projects or investments in India only in partnership with Reliance.
BlackBuck, India's leading online trucking platform, has closed a $67 million round of equity financing. The round was led by Tribe Capital, IFC Emerging Asia Fund and VEF. Existing investors Wellington Management, Sands Capital, and International Finance Corporation also participated in the round. The investment has made the Bengaluru-based company a 'unicorn,' or a startup valued at more than $1 billion, according to the firm. The company will use these funds to further penetrate the market and launch new service offerings for its customer base.
Thanks to a booming market, India now has more than 300 family offices, up from 45 in 2018, according to a PwC report. The number is expected to grow rapidly, with promoters establishing more businesses in Tier-II and Tier-III cities. Family businesses play a crucial role in India's booming economy, spanning manufacturing, retail, real estate, healthcare, and finance.
'There is a need for a national task force with a singular objective to increase automotive exports.'
The campaign will be launched in global as well as domestic markets across the media.
For Dinesh Nirmal (pictured), who heads IBM Software, one of his mandates is to integrate generative artificial intelligence (GenAI) into all products IBM builds and leverage it to enhance developer productivity across global labs. Nirmal believes that one of the biggest benefits of GenAI is automation, leading to optimisations and productivity gains. He shares that IBM Software has observed productivity gains of 30-40 per cent in some segments of software development.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
India's first-ever Olympic medallist in women's boxing Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual UK-India Awards in Windsor.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
Regulators must learn from past mistakes and act swiftly to prevent Big Tech from monopolising the AI ecosystem, argue Payal Malik and Nikita Jain.
NavIC consists of a constellation of seven satellites and a network of ground stations and is touted to be more accurate than GPS.
BlackBerry Passport, with a 4.5-inch touch screen and three-row touch-enabled physical keyboard, is priced at Rs 49,990.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The company, which is a leading player in the Indian wearables market, is backed by angel investors like Shriram Nene and his wife and Bollywood actress Madhuri Dixit Nene and WhatApp's Neeraj Arora
Yuvraj has switched focus to business.
India is likely to see over 100 mature, large-scale profitable or on the path to profitability startups in the next five years, of which 80 have the potential to go for public listing, market research and consultancy firm Redseer said on Tuesday. Redseer Strategy Consultants, in a report on IPOs, said 20 of the mature startups have gone public so far. "India may see over 100 matured, large-scale profitable/path-to-profitability start-ups in the next five years.
A top management leadership team from SoftBank has been coming to India in the last few days to meet the founders of start-ups and other investors, signalling the country's emergence as a pivotal market for the global investment giant. Based on current estimates, India accounts for nearly 10 per cent ($20 billion) of SoftBank's invested assets under management (AUM) globally. That makes the country its third largest market after the US and China.
For 2016, India's rank in ease of doing business has improved.
Amphibious drones for maritime inspection... devices that extract pure oxygen from water for patients in need... self-balancing electric bikes...
The prime minister was spotted in a Swasa N95 mask created by the IIT-Kanpur start-up and incubator team.
'Factors such as working professionals seeking better lifestyles, traditional housing challenges, community and networking, and urban migration for jobs are driving the growth in the co-living segment.'
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
The industry is looking at a promising 2016, though experts and even the investors anticipate correction on the valuation side
'The deal pipeline across products is robust for 2024.'
'Elections are fought to win.' 'In our party, the leadership takes the final decision, and our leaders are very clear about it.'
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Communication skills, negotiation skills, social skills, etiquette, behavioural skills, etc, should be part of your learning. Develop confidence because that's the key to success, advises rediffGURU Archana Deshpande.
'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
The dealers operating in the space have jumped nearly three times over the past two years.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
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