As the number of pandemic cases are on the rise, the frontline health workers need more PPEs and other necessary stationery to deal with the crisis. In order to have sufficient PPEs and other stationery materials, IIT-M supported startups have developed Personal Protective Equipment (PPE) such as face shields and intubation boxes from 3D Printers…
The coronavirus pandemic has not only affected human interaction but has brought the economy to a complete halt. The impact of the crisis can be seen taking a toll on several new-age startups and SMEs who have now resorted to cost-cutting measures. Companies like OYO, Swiggy, Meesho, Bounce, Udaan, and Paytm have either laid off…
AngelList, a platform to connect investors to startups, has recently laid off a number of staff and cut executive salaries across all departments, according to a TechCrunch report. The company reportedly has more than $1bn assets under management. The company has yet not made any comments on the number of staff being laid off but…
The coronavirus has impacted many businesses worldwide. The novel virus which originated in China has now spread to 160 countries while 180 positive cases and four deaths in India alone. Businesses have been forced to resort to cost-cutting measures and put a halt on expansions. Some are even asking the government to step in. A…
Bengaluru-based scooter rental startup Bounce has recently laid around 20% of its workforce in as a cost-cutting measure, as an Entrackr report. Most of these lays are from mid and senior-level with high salary packages. According to the report, the company has decided to let go of about 120 employees primarily from an internal project…
Customer-to-customer real estate portal, NoBroker recently announced that it has acquired society management platform Society Connect in an all-cash deal. With the acquisition, NoBroker further aims to strengthen its hold in the visitor and community management space where it already has a strong presence with its application NoBrokerHood. The acquisition follows the launch of NoBroker’s…
Edtech startup Udemy recently announced that it has raised $50mn from an existing Japanese investor Benesse Holdings, Inc. The recent investment by the investment firm was made at a valuation of $2bn. The company in a statement described this funding as a part of expansion funding. The company is planning to use these funds to…
Bengaluru-based hyperlocal services provider Dunzo recently announced that it has raised $11mn in debt funding round from Alteria Capital. With the latest fund infusion, Dunzo is seeking to scale up its operations in the locations where the company is profitable. Kabeer Biswas, CEO, and Co-Founder of Dunzo said that the debt funding will help the…
SoftBank, a name we all are familiar with in the startup ecosystem. From setting up the world’s biggest investment fund “The SoftBank Vision Fund” to aggressively investing in tons of startups, SoftBank has established itself as a mark in the startup economy. But all is not going well with the brand. For the past few…
RACEnergy, an electric mobility startup, recently announced that it has raised an undisclosed amount in seed funding. The funding round saw participation from growX ventures and Prophetic Ventures among others. Huddle’s EV Accelerator Programme, also participated as part of this round. RACEnergy was founded by BITS Pilani alumnus Arun Sreyas and Gautham Maheswaran. The company…
The objective for showcasing the tableau is to motivate and inspire people to generate wealth and become job creators and not just stay limited to job seekers. The Ministry of Commerce and Industry has announced that it will showcase a tableau based on the government’s initiative Start-Up India at the 71st Republic Day Parade. The…
A booster dose to the start-up ecosystem in India, G7CR Technologies, a global information technology and cloud services company has announced the launch of the SSB 360 program in partnership with Microsoft. The initiative will provide for start-ups and small businesses benefits of up to $3 million and strategic association. The program will focus on…
Samya.AI, an AI SaaS startup, announced that it has raised $6 million in seed round funding led by Sequoia India. The startup’s other initial investors include Ashish Gupta, Founder of Junglee.com and Helion VC; Deb Henretta, Partner, G100 Companies and Ex-Group President, P&G; Arijit Sengupta, Founder of Kradle Ventures and Antuit Inc; Deborah Kops, Ex-…
The Catalyst Fund has gained $15 million from JP Morgan and UK Aid as a means to support and back 30 fintech startups in Africa, Asia, and Latin America in the next three years. Catalyst Fund, a Boston based accelerator, provides mentorship and non-equity funding to early-stage tech ventures that are primarily focused on driving…
As cloud computing takes over the world, Avigna Consulting, owner of the server management solution InfraGuard, has made a strategic investment in Australia’s leading Cloud Management Company, Kumolus for fast expansion in SouthEast Asia. Both companies are partners with Amazon Web Services and have a global presence. Together, they offer a complete solution to enterprises…