#StartupWithMC | According to an email sent to its employees, Byju's founder Raveendran revealed that the company had transferred a portion of its funding overseas to finance various international acquisitions over the past year.
Here's more on why the ED raided the edtech's offices in Bengaluru๐
bit.ly/3Nq8lwj
Here's more on why the ED raided the edtech's offices in Bengaluru๐
bit.ly/3Nq8lwj
#StartupWithMC | The board of Byjus, the world's most-valued edtech startup, has approved the IPO of Aakash Educational Services, postponing the previously planned 2023 IPO & aiming to take it public by mid-next year.
Know more about the listing plans ๐
https://bit.ly/3oPagAM
Know more about the listing plans ๐
https://bit.ly/3oPagAM
#StartupWithMC: Anil Goteti, Flipkartโs former senior vice president, has launched a new travel credit card startup called Scapia.
Read more about it ๐
https://t.ly/EYDF
Read more about it ๐
https://t.ly/EYDF
#StartupWithMC | Lightspeed-backed edtech startup FrontRow shut down its operations on June 30, 2023. The company had been considering a sale or even a shutdown in the worst-case scenario, but was unable to find a buyer.
Mansi Verma reports๐
bit.ly/3D5LW0V
Mansi Verma reports๐
bit.ly/3D5LW0V
Moneycontrol
Lightspeed-backed Frontrow shuts operations
This came months after the company laid off 75 percent of its staff and said it would โstart from scratch.โ After two rounds of layoffs in May and October 2021, the company was left with about 35-40 employees.
#StartupWithMC: Fintech startups like PhonePe and Jar have introduced digital lending services and increasingly more and more fintech startups are jumping on the digital lending bandwagon.
Read here ๐
http://bitly.ws/Lewz
Read here ๐
http://bitly.ws/Lewz
Moneycontrol
Fintechs jump onto digital lending frenzy as disbursement volumes double in FY23
Lending-focused companies dominated startup funding this year, attracting approximately a third of all investments. Paytm and BharatPe have also bolstered their management leadership in the lending verticals, as a substantial portion of their revenue stemsโฆ
#StartupWithMC | Union Minister #RajeevChandrasekhar has stated that the industry has proposed to extend the Future Design Linked Incentive Scheme to encompass large Indian and foreign companies.
Know what he said ๐โโ๏ธ
https://www.moneycontrol.com/news/business/startup/india-could-extend-chip-design-scheme-beyond-startups-to-include-big-enterprises-rajeev-chandrasekhar-11057721.html?utm_source=telegram&utm_medium=social
Know what he said ๐โโ๏ธ
https://www.moneycontrol.com/news/business/startup/india-could-extend-chip-design-scheme-beyond-startups-to-include-big-enterprises-rajeev-chandrasekhar-11057721.html?utm_source=telegram&utm_medium=social
Moneycontrol
Centre looks beyond startups, chip design scheme to cover big enterprises too
Industry has come with the suggestion that the Future Design Linked Incentive Scheme be opened up for big Indian and foreign companies, says Union Minister Rajeev Chandrasekhar on the sidelines of the SemiconIndia 2023 conference
#StartupWithMC | India's top banks & NBFCs are entering the EV financing business, especially the two-wheeler segment.
Here's why๐
https://www.moneycontrol.com/news/business/startup/top-banks-and-nbfcs-eye-electric-two-wheeler-financing-as-prices-set-to-soar-11184781.html?utm_source=telegram&utm_medium=social
Here's why๐
https://www.moneycontrol.com/news/business/startup/top-banks-and-nbfcs-eye-electric-two-wheeler-financing-as-prices-set-to-soar-11184781.html?utm_source=telegram&utm_medium=social
Moneycontrol
Top banks and NBFCs eye electric two-wheeler financing as prices set to soar
Ola Electric has partnered with Shriram City Union Finance. Similarly, Ather Energy is also offering up to 100 percent on-road financing through partnerships
#StartupWithMC | Byju's founders, top executives, and advisory council updated investors on Term Loan B negotiations, audited results, and other issues
Chandra R Srikanth reports๐
https://www.moneycontrol.com/news/business/startup/byjus-holds-call-with-over-100-investor-representatives-on-audited-results-term-loan-b-11187991.html?utm_source=telegram&utm_medium=social
Chandra R Srikanth reports๐
https://www.moneycontrol.com/news/business/startup/byjus-holds-call-with-over-100-investor-representatives-on-audited-results-term-loan-b-11187991.html?utm_source=telegram&utm_medium=social
Moneycontrol
#StartupWithMC | Fintech major PhonePe, which recently launched its stockbroking app called "Share. Market", is targeting the growing participation of retail investors in India.
Bhavya Dilipkumar & Anand J report๐
https://www.moneycontrol.com/news/business/startup/phonepes-share-market-aims-squarely-at-retail-investors-says-co-founder-rahul-chari-11289221.html?utm_source=telegram&utm_medium=social
Bhavya Dilipkumar & Anand J report๐
https://www.moneycontrol.com/news/business/startup/phonepes-share-market-aims-squarely-at-retail-investors-says-co-founder-rahul-chari-11289221.html?utm_source=telegram&utm_medium=social
Moneycontrol
Only a third of investors are active, Share.Market aims to change that: PhonePe Co-founder Rahul Chari
Walmart-backed fintech major PhonePe announced on 30 August its entry into the stock broking business with the launch of its app called "Share.Market".
#StartupWithMC | Mamaearth derives more than half of its revenue from tier 2 and lower cities, according to Co-founder and CEO Varun Alagh.
Mansi Verma reports๐
https://www.moneycontrol.com/news/business/startup/tier-2-and-lower-cities-contribute-majority-of-mamaearths-revenue-ceo-varun-alagh-11298861.html?utm_source=telegram&utm_medium=social
Mansi Verma reports๐
https://www.moneycontrol.com/news/business/startup/tier-2-and-lower-cities-contribute-majority-of-mamaearths-revenue-ceo-varun-alagh-11298861.html?utm_source=telegram&utm_medium=social
Moneycontrol
Tier 2 and lower cities contribute majority of Mamaearthโs revenue: CEO Varun Alagh
Alagh was speaking at the launch of a report by Redseer, which projects the Indian BPC market at $30 billion by 2027, growing at a compound annual growth rate of 10 percent