Startup

Sequoia Capital Looks To Raise Second India-Focused Seed Fund

Silicon Valley-based early-stage investor Sequoia Capital is in the market to raise its second India-focused seed fund, according to the company’s filings with the US Securities and Exchange Commission. It has not yet disclosed the timeline or the fund size it is looking to raise. Sequoia is currently the most active investor in the Indian …

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Edtech Startup Doubtnut Bags $31 Mn, SIG Investments Leads The Round

Edtech startup Doubtnut has raised INR 224 Cr (about $31 Mn) in a round led by Hong Kong-based venture capital firm SIG Investments and James Murdoch’s Lupa Systems. Existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in this round. With this round, the edtech startup has raised close to $50 …

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Zomato Hikes Delivery Partners’ Salaries To Compensate Them For Higher Fuel Prices

Online food delivery unicorn Zomato, on Thursday (February 25), announced that it has increased the salaries of its delivery partners/executives by 7-8% to make up for the skyrocketing prices of petrol and diesel. The company will bear the cost of increased remuneration itself and would not pass it on to the customers or restaurants. The …

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Amazon, ICICI Bank, Axis Bank & Others To Present Joint NUE Proposal To RBI

Ecommerce giant Amazon, along with ICICI Bank, Axis Bank and Visa, will reportedly present a proposal to the Reserve Bank of India (RBI) for setting up a New Umbrella Entity (NUE).   Last year, RBI announced that private entities, subject to certain requirements, would be eligible to apply for an NUE license. An NUE has been …

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Electric Vehicles This Week: Flipkart & Amazon Push For Clean Delivery Fleets, Budget EV Model Outsells Tesla In China

Homegrown ecommerce giant Flipkart is looking to deploy 25K electric vehicles (EV) to its delivery fleet by 2030. The Walmart-owned company will also create charging infrastructure at its delivery hubs and offices across the country. The company has already started off the project by deploying 450 two and three-wheelers in several cities, in partnership with …

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Flipkart To Add 25,000 Electric Vehicles To Logistics Fleet By 2030

Walmart-owned ecommerce major Flipkart has said it will deploy 25,000 electric vehicles (EVs) by 2030 to fast-track the adoption of EVs for its logistics fleet. The company has also said it will build EV charging stations around its delivery hubs and offices.  Last year, the company had announced its intention to transition its entire fleet …

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[What The Financials] Vedantu’s Losses Spike To INR 158 Cr, Spent INR 8 To Earn A Rupee

Bengaluru-based online tutoring giant Vedantu has reported a 6x increase in its losses to INR 158.5 Cr while its revenue stood at INR 35.8 Cr in the financial year that ended in March 2020. The company spent about INR 194.3 Cr to earn an operating revenue of INR 24.6 Cr in FY20. Going by these …

[What The Financials] Vedantu’s Losses Spike To INR 158 Cr, Spent INR 8 To Earn A Rupee Read More »

Innovaccer Becomes First Indian Healthtech Unicorn After Tiger Global Invests

Noida- and San Francisco-based Innovaccer has become the first Indian healthtech unicorn after raising an undisclosed amount in a Series D round, led by Tiger Global Management. The healthtech startup is valued at $1.3 Bn after the current round.  The company’s existing investors, including Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and M12 (Microsoft’s …

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Sequoia Capital Exits From Car & Bike Pooling Startup Quick Ride: Report

Venture capital firm Sequoia Capital India has reportedly exited from the Bengaluru-based car and bike pooling startup Quick Ride.  According to Entrackr, which first reported the development, Sequoia exited late last year with a 40-50% cut on the amount it had invested in the company. The VC firm had participated in Quick Ride’s Series A …

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RBI Governor Shaktikanta Das Indicates More Trouble For Private Cryptocurrencies, Before Govt Launches Its Own

RBI governor Shaktikanta Das today said the regulator is working on developing its own digital currency. The central bank is currently working on both technologies as well as the procedural aspect before announcing its official launch date. In an interview with CNBC TV-18 on Wednesday (February 24), Das said that they (RBI) are very much …

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