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Unicorns
The Indian EV space is the third-largest in terms of the number of companies, next to the US and China and in terms of funding, the Indian EV space is the fourth-highest after the US, China and Sweden, Tracxn said in its report

EV start-ups in India record highest funding in a decade, sees a jump of 117%

Feb 06, 2023

The Indian EV space is the third-largest in terms of the number of companies, next to the US and China and in terms of funding, the Indian EV space is the fourth-highest after the US, China and Sweden, Tracxn said in its report

Kamath said that in the last couple of years, retail investors have seen obscene returns. However, the standard returns in the stock market are around 11 per cent per annum

‘People opening demat accounts has reduced’: Zerodha’s Nikhil Kamath hints at slowdown in retail participation

Feb 04, 2023

Kamath said that in the last couple of years, retail investors have seen obscene returns. However, the standard returns in the stock market are around 11 per cent per annum

Rekhi said that unicorns are mythical and unicorn companies valued privately are “even more mythical.” Unicorn refers to a company which valued either $1 billion or more.

'Large valuations give a false sense of success': Investor Kanwal Rekhi on unicorns being mythical

Feb 03, 2023

Kanwal Rekhi is a prominent name in the Silicon Valley and Indian start-up circles. He is also known for taking smart ethernet card maker Excelan public on NASDAQ in 1987.

Bengaluru remains the largest unicorn hub in India, with 43 unicorns headquartered in the city.

India has 115 unicorns with a cumulative valuation of over $350 billion

Feb 02, 2023

Funding winter aside, India surpassed the UK to become the world’s third-largest start-up economy in 2022. It minted 24 new unicorns, and attracted venture capital of $25 billion during the year.

The FM also highlighted that this new scheme will enable them to improve the quality, scale and reach of their products by integrating them in the value chain of MSMEs.

Budget 2023: FM Nirmala Sitharaman announces financial package for India’s artisans & craftsmen

Feb 01, 2023

While announcing the Union Budget of 2023, Sitharaman highlighted their importance and even called them the Hindu god of craftsmanship.

The fund will follow a cluster-based approach, the FM said at the Union Budget 2023.

Budget 2023: FM announces launch of agri accelerator fund, extends income tax benefits to March 2024 for start-ups

Feb 01, 2023

The fund will focus on supporting young entrepreneurs in rural areas by equipping them with modern tools and technologies.

While COVID-19 gave the industry an impetus to grow, the challenge now is to sustain the growth numbers, according to experts.

Budget 2023: Online gaming unicorn Games24x7’s CFO roots for favourable policies & taxation ahead of the budget

Feb 01, 2023

Rahul Tewari, CFO of the company said that continued focus on developing this sector along with a policy and regulatory framework can provide this ‘sunrise’ sector a much-needed push.

startup

Economic Survey 2023 calls for simplification of taxation, ESOPs to accelerate ‘reverse-flipping’ of start-ups

Jan 31, 2023

The survey which was released on Tuesday morning said that start-ups have been found to be “flipping” which refers to Indian companies setting up headquarters in overseas locations where ease of doing business is higher.

Edtech sector was one of the worst hit in 2022. Venture funding in India’s edtech startups more than halved from $4 billion in 2021 to $1.8 billion in 2022, according to PwC’s Startup Deals Tracker - CY22.

Budget 2023: ‘Allocate higher share of GDP to education,’ says edtech unicorn upGrad’s MD

Jan 31, 2023

Mayank Kumar, Co-founder and MD of upGrad also urged the government to focus on adult education which will accelerate the country’s GDP if it becomes a household phenomenon in India.

Prosus which owns OLX backs Indian unicorn companies such as BYJU'S, Swiggy, Urban Company, Mensa Brands, etc.

Layoffs 2023: OLX to fire 1,500 employees globally

Jan 31, 2023

OLX started operations in India in 2009. The number of job cuts from the India team could not be ascertained.

RED.Health has raised $22.6 million so far from investors like HealthQuad, Kalaari Capital and HealthX Capital Singapore amongst others.

Ambulance in 8 minutes: This start-up is doing to healthcare what Blinkit, Zepto did with grocery

Jan 30, 2023

RED.Health, previously known as StanPlus, was started in 2016 by Prabhdeep Singh. The company became popular for providing ambulance at doorstep in eight minutes.

Ritesh Agarwal also noted that a higher GST regime impacts the earnings of small hoteliers as well and reduces them considerably.

Budget 2023: OYO CEO Ritesh Agarwal seeks 'less stringent GST regime for hospitality sector'

Jan 30, 2023

The hospitality industry was unhappy when the GST Council announced in July last year that hotels under Rs 1,000 will come under the GST net.

Nikhil and Nithin Kamath founded Zerodha in 2009. Its net profit doubled to Rs 2,094 crore in FY22.

Why Zerodha never hired IIT, IIM graduates. Here’s what CEO Nithin Kamath said

Jan 28, 2023

Zerodha’s founder Nithin Kamath, in a recent podcast, said they do not hire people who have passed out from colleges, including the IITs and IIMs, as he feels it is very tough to fit such people in its organisation.

One of the JDs emphasised that an ideal employee for the role of Product Owner should have a high emotional quotient as well as intelligent quotient. The description also revealed that for this role “good enough is not good enough.”

No work-life balance, good enough is not good: Meet the ideal Zomato employee

Jan 27, 2023

When Zomato announced it had 800 job vacancies, the company received mixed reactions. Here’s why.

As per rough estimates, it will close FY23 at $751 million revenue with a gross margin of 41 per cent.

OYO to focus on reducing operational inefficiencies, will become EBIDTA positive for the first time in FY23

Jan 27, 2023

The company is expecting to close its adjusted EBITDA (for second half of FY23) at Rs 185 crore which is a 3x increase from H1 which was closed at Rs 63 crore.

“If you want to move to India as a domicile, we have to do a fresh market valuation and pay tax on the delta," Sameer Nigam, Co-founder and CEO, PhonePe said at a live YouTube session

Investors forked out Rs 8,000 cr to shift base from Singapore to India, says PhonePe CEO Sameer Nigam

Jan 25, 2023

“If you want to move to India as a domicile, we have to do a fresh market valuation and pay tax on the delta. Our investors have paid almost Rs 8000 crores in taxes just to allow us to come back to India,” Sameer Nigam, Co-founder and CEO, PhonePe said at a live YouTube session

Silonas was started by Bhavesh Narayani, Divanshu Kumar, Moinak Banerjee, and Linda Jasline in 2020.

This Chennai-based robotics start-up wants to eliminate manual scavenging and build smart cities

Jan 25, 2023

Chennai-based start-up Silonas makes robots which eliminates the need for manually cleaning of sewage pipes, an exercise which is banned and illegal in India.

 “A unicorn per se is not a good role model”. “The whole ecosystem was designed just to raise money. It was successful but the goals were wrong. We need the right role models,” Anand Lunia said. 

‘A unicorn per se is not a good role model,' says Anand Lunia of India Quotient

Jan 25, 2023

India Quotient boss Anand Lunia warns the startup ecosystem of ‘zombie unicorns’ as the funding slowdown deepens and companies find it even harder to extend their runway. Startups need to now benchmark themselves differently, he says.

Easemytrip has over 45,000 travel agents and 11 million customers in all.

Easemytrip acquires a majority stake in hotel booking marketplace cheQin

Jan 24, 2023

This acquisition aims strengthen the travel tech platform’s hold in technology, adaptability, personalization, and the acceptance of bulk booking and long stay requests.

Pune-based Ecozen has secured $25 million in a fresh funding round led by Nuveen, the Chicago-headquartered asset manager owned by US pension fund TIAA and Dare Ventures, the venture capital arm of Coromandel International

Climate-focused deeptech start-up Ecozen raises $25 mn from Nuveen, others

Jan 24, 2023

Pune-based Ecozen has secured $25 million in a fresh funding round led by Nuveen, the Chicago-headquartered asset manager owned by US pension fund TIAA and Dare Ventures, the venture capital arm of Coromandel International

Shashvat Nakarani, Founder of BharatPe, said that as they get ready for an Initial Public Offering (IPO), it is imperative to give data privacy, cyber security, corporate governance and compliance the “highest priority.”

BharatPe appoints top executives in governance & compliance roles amid Ashneer Grover row

Jan 24, 2023

This move is in line with the Gurugram-based company’s endeavour to build an organisation with high levels of corporate governance, compliance and data security.