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On the condition of anonymity, two persons with direct knowledge of the situation stated that former BharatPe chief executive and co-founder Ashneer Grover is in negotiations with US-based family offices and offshore private equity investors to finance $200-300 million for a new venture. Grover is now in the United States. While it is unclear in […]
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Vedantu, which is owned by Vamsi Krishna, is laying off 424 of its 5,900 employees. This is on top of the 200 staffers fired off by the edtech unicorn earlier this month. The business laid off 200 employees, according to an article. With this recent development, the total number of laid-off employees has risen to […]
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Bharat Founders Fund (BFF) was founded by the founders and senior executives of various firms, including unicorns, to invest in pre-seed-stage enterprises. A unicorn is a privately held startup with a market capitalization of $1 billion or more. Vidit Aatrey and Sanjeev Barnwal, cofounders of Meesho; Gazal Kalra, co-founder of Rivigo; Cars24 cofounders Vikram Chopra, […]
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An Indian couple became the country’s first husband and wife to establish their individual firms into enterprises worth at least $1 billion, dubbed unicorns. Oxyzo Financial Services, a digital lending business co-founded by Ruchi Kalra, said on Wednesday that it has raised $200 million in its first round of funding, backed by Alpha Wave Global, […]
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Payments provider BharatPe announced on Wednesday that its former managing director and co-founder Ashneer Grover was “no longer an employee, founder, or director” and that he and his family had engaged in “gross misuse of company money,” in a move unprecedented in India’s startup sector. Why has Ashneer Grover’s co-founder designation been revoked by BharatPe? […]
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Dikshita Basu used her imagination when applying for an internship with Zomato, and her efforts were rewarded when she received a favourable answer from a corporate official. Ms Basu, a computer science and engineering student at Sathyabama University in Tamil Nadu, is passionate about product design. Instead of mentioning her qualifications while applying for an […]
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Despite a worldwide market slump, Indian Startups received record investments of up to $3.5 billion across 130 deals in January, setting a decadal high and signalling ongoing investor interest in the country’s expanding startup ecosystem. According to data compiled exclusively for by specialist staffing firm Xpheno, the brisk pace, which has seen over four deals […]
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Edible cutlery startup: “I spotted something floating on the Yamuna river on one of my journeys from Delhi to Vrindavan. I came to a halt to see what it was, and it turned out to be big volumes of thermocol. What I saw in the sea that day depressed me much,” Puneet Dutta says. The […]
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If ordering meals from Zomato and Swiggy is a hobby or habit for you, it might quickly become pricey. According to government guidelines, starting in January, all meal delivery apps will be required to pay a 5% Goods and Services Tax (GST) on their restaurant services. This additional fee might be passed on to users […]
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According to numerous sources with knowledge of the matter, the search giant is in talks to invest $50-75 million in Meesho’s social commerce platform. This shows emphasis of Google on supporting emerging Indian businesses like Dunzo and InMobi’s Glance. As part of Meesho’s current financing round, the investment is valued at $4.9 billion, valuing the […]
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