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Rash decisions, insecurity and burnout: The dark side of India’s startup funding boom

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India’s epic and unprecented startup funding boom has birthed unicorns, minted millionaires and taken companies public at record valuations. In the process though, founders are getting burnt out, employees are veering towards fraud and insecurity is driving people to the dark side. Moneycontrol takes a look.   Chaitanya Ramalingegowda Chaitanya Ramalingegowda feels nothing. His company, …

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ByteDance is shutting down edtech business in India

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ByteDance is shutting down its edtech business in India, the company informed the local team on Monday, according to two sources directly familiar with the matter.   European edtech The decision follows weeks-long discussion in which the company also explored migrating India team to work with the European edtech team, sources said, requesting anonymity as …

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Accenture and Microsoft to support 10 social startups in India

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Accenture and Microsoft in India are supporting 10 startups, which focus on social impact and sustainability, by helping them to scale their emerging solutions and business models.   Project Amplify The joint initiative, called Project Amplify will work with 33 startups across the Asia Pacific region. The initiative extends activities launched in South Asia in …

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Mensa  Brands  races to unicorn status in just six months.

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The funding was raised as part of the firm’s Series B funding round led by Falcon Edge Capital’s growth stage platform, Alpha Wave Ventures, at a valuation of around $1.2 billion.   Indian startup Mensa Brands, which buys stakes in digital brands, raised $135 million at a valuation of around $1.2 billion, it said on …

Mensa  Brands  races to unicorn status in just six months. Read More »

Edtech startup Brightchamps valued at nearly $500 million with Premji Invest-led funding

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Premji Invest has led a new round of funding of $51 million, along with participation from edtech-focused investor GSV Ventures, Flipkart cofounder Binny Bansal-backed 021 Capital and Singapore-based venture fund Beenext.   EDtech Startup Edtech startup Brightchamps, which offers online courses on programming, artificial intelligence, design thinking and financial literacy to kids aged 6-16 years, …

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Digital payments startup Paytm launches India’s biggest IPO

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With its $2.46bn target, Paytm, backed by Ant Group, SoftBank, Berkshire Hathaway, will be India’s biggest IPO.   Digital platorm India will see its biggest-ever initial public offering with digital payments platform Paytm looking to raise nearly $2.5bn, in what has already been a record year for share listings Paytm is backed by Chinese tycoon …

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Zepto, a 10-minute grocery delivery app in India, raises $60 million

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Two 19-year-old entrepreneurs, who previously collaborated on a number of projects including a ride-hailing commute app for school kids and left Stanford last year to pursue a new startup, said on Sunday they have raised $60 million to disrupt India’s overcrowded and highly-competitive grocery delivery market.   Zepto’s first institutional Glade Brook Capital led Zepto’s …

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Agri-tech startup DeHaat raises $115 million led by Sofina, Lightrock India

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Full-stack agri-tech platform DeHaat has raised $115 million in its Series D round, led by Belgium-based investment firm Sofina and Lightrock India.   Singapore government Singapore government investment fund Temasek also co-invested in the round with participation from existing investors, Prosus, RTP Global, Sequoia Capital India and FMO, a senior company executive said. The Delhi-based …

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Inspiring entrepreneur: This 29-year-old taxi driver is now running a leading cab company in Goa

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A man who started his career as a taxi driver has come up with a Digital Based Transportation Company to address the perils of drivers as well as give the much-needed relief to people in Goa. Spare a few minutes to know more about his initiative.   The beginning Goa-based 29-year old Uttkarsh Mokatkar had …

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Stripe acquires fintech startup Recko in first Indian acquisition

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The deal comes at a time when Stripe is accelerating its investments in India by adding payment methods and increasing local hiring. Recko will help Stripe add payments reconciliation to its product offerings.   States-based Payments United States-based payments and API company Stripe on October 20 said that it has acquired Recko, its first acquisition …

Stripe acquires fintech startup Recko in first Indian acquisition Read More »

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