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.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
As much as 35 per cent to 40 per cent of all vehicles sold in the country across segments will be electric by 2030, up from a mere 2 per cent this year, says a Bain & Co report released today. This translates to 14-16 million new electric vehicles (EVs) selling in a year. The inflexion point, which is now being seen month on month in many segments (such as two-wheelers which hit around 4-5 per cent in December), will be more than visible in 2026, when 4-5 million EVs across segments are expected to be sold, accounting for 15-20 per cent of the total sales, says the report.
Around 6,967 tech employees lost their jobs in Bengaluru, the highest among Indian cities, partially because of its evolution in recent years as a start-up hub.
'We can save 70 patients out of 100, if they reach a hospital well within time.' 'The most crucial aspect is time.'
Professionals in these industries earn compensation that is 30-60 per cent higher, on average, than those who work in other industries.
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
RIL, as well as its partner Pioneer Natural Resources Co, are seeking a buyer for their stakes in Eagle Ford Midstream venture as they focus on shale oil production.
Lightspeed Venture Partners, a US-based venture capital firm, on Monday announced investments of $29.5 million in two Internet companies in Bangalore.
With regulatory uncertainties clouding the future of online pharmacies, deals in the space are showing signs of slowdown, as also fresh investment from private-equity (PE) firms and venture capitalists (VCs). The data from Venture Intelligence shows so far in 2023 (as of June 13) there has been one deal with PE-VC funding. In 2022 there were four, a sharp fall from the 12, totalling $1,520 million, the sector had attracted in 2021.
State Bank of India partnered GE Capital in 1998 for its credit card business.
Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced a Rs 2,116 crore open offer to shareholders of Religare Enterprises Ltd (REL) to acquire up to an additional 26 per cent stake in the company as part of its strategy to enter the financial services space. Post the open offer, the family's stake in the financial services firm is expected to increase to 51 per cent. The open offer is made to increase the family's stake and take control of REL and this will mark the entry of Burmans into the financial services space.
So far, VCs used to fund start-ups which either had product prototypes ready or had some customers on board.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
Delhi Capitals have never reached the IPL final, never made the top-two, and ventured into the top-four for the first time since 2012.
The share of slow-moving orders in the overall order book of Larsen & Toubro (L&T) is at a multi-year low. This has led to a renewed focus on fast-moving orders. A mix of factors such as commodity price fluctuations, robust order inflow and strong sectoral demand have put capital goods order book in the fast lane, analysts and company executives said. L&T, with its large presence in the capital goods sector, is often seen as the bellwether for trends in this space.
Lauding India's ambitious space programme, The New York Times has said the country, currently witnessing an 'explosive' growth in space-tech start-ups, is set to 'transform the planet's connection to the final frontier' and can emerge as a 'counterweight' to China.
Fund managers said investors remained positive on the pharma manufacturing activity in India, which further strengthened during the Covid-19 period, on account of restrictions imposed on pharma imports from China.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
VCs also do not want to under-finance companies and are ensuring that the current capital infusion takes them through at least 18-24 months, which is the expected time when the outside fundraising environment starts to recover, says Alok Mittal.
Anil Ambani-group run Reliance Technology Ventures Limited (RTVL), on Tuesday said that it has invested in the Seattle-based, early-stage company, Pelago Inc.RTVL, however, did not disclose the amount invested in the US company. RTVL is the corporate venture capital arm of the Reliance ADA Group and a wholly-owned subsidiary of Reliance Capital.
He said COVID-19 can be a catalyst towards the adoption of digital technologies in health and education and drive change in a way that even venture capital funds have not achieved despite pouring billions in investments.
Sayre Therapeutics aims for a spot among top 5 players in oncology.
ABCL owns the TV9 media house, which runs satellite television channels in several regional languages, including Telugu. iLabs is promoted by Raju.
Venture capitalists (VCs) invested around $928 million (around Rs 3,700 crore) in 80 India-based firms during 2007 -- a 166 per cent increase over the $349 million invested in 36 deals in 2006 --, according to the latest quarterly India Venture Capital report published by Dow Jones VentureSource.
Silicon Valley venture capitalists are scaring their companies--and each other--with tough talk. The smart ones are also still investing.
The government will create an EV Venture Capital Fund, for financial support to start-ups in the segment. The overall aim is to make Tamil Nadu the preferred destination for EVs and component makers.
N R Narayana Murthy, co-founder and chief mentor of India's second-largest IT services provider Infosys Technologies, is planning to invest in US-based clean technology venture capital fund Siderian Ventures.
In India, US venture capitalists invested $101 million in 13 deals in the first quarter, 29 per cent less than the $142 million via 22 deals in the March quarter of 2008, as per data compiled by research firm Dow Jones VentureSource. Venture capitalists put $1.87 billion, the lowest quarterly total since 2004, via 250 deals for emerging companies in India, China, Europe and Israel in the first quarter as fund managers prefer assured returns from portfolio investment.
Quitting high flying jobs in the US, two IITians have joined hands to start a tea cafe chain 'Chaayos' in the NCR region.
The Reserve Bank of India (RBI) has recommended to the finance ministry a series of measures to curb investment flows from venture funds and into real estate.
According to Venture Intelligence, PE/VC investors have already invested $93 million in 10 education companies so far in 2011, led by a Rs 100 crore (about USD 22 million) investment in vocational training and placement firm Teamlease Services.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
Explosions and clashes were reported in various areas in Khartoum in the backdrop of escalating tension between a paramilitary force and Susan's Army.
Technology infrastructure solves many problems, but it cannot build roads or bridges and provide clean water. However, such activities are essential for human progress, and their creation provides jobs, says R Gopalakrishnan.
Unlike many other B-schools, IIM Ahmedabad follows a cluster system of final placements process where sectors are invited in cohorts at regular intervals.
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