Trending Startup’s News – 2 Aug 2023

Table of Contents

CIIE.CO Launches India’s First People and Culture Accelerator to Empower 30 Startups

CIIE.CO, the Centre for Innovation, Incubation and Entrepreneurship at IIM Ahmedabad, has launched India’s first People and Culture Accelerator (PCA) to empower 30 startups. The three-month intensive program will cater to startups from pre-series A to series B stages, and will include an immersive bootcamp at the IIM Ahmedabad campus, tailored mentoring, and various other benefits to address critical HR-related challenges such as hiring, performance management, attrition, and formalization.

Mondelez India Selects Five Startups for CoLab Accelerator Program

Mondelez India, the Indian subsidiary of global snacks giant Mondelez International, has selected five startups for its CoLab accelerator program. The program, which is in collaboration with Huddle, a venture builder and accelerator, aims to help early-stage food and beverage startups scale their businesses.

Government Lowers E-Invoicing Threshold to Rs 5 Crore for Increased Compliance

The government of India has announced that it will be lowering the e-invoicing threshold to Rs 5 crore from the current level of Rs 10 crore. The new threshold will come into effect from August 1, 2023.

Paytm Empowers On-The-Go Merchants with New Devices – Pocket Soundbox & Music Soundbox

Paytm, India’s leading digital payments company, has launched two new devices for on-the-go merchants: the Pocket Soundbox and the Music Soundbox. These devices are designed to make it easier for merchants to accept payments and manage their businesses while they are on the move.

BYJU’S Issues Legal Notice to Aakash Founders over Share Transfer Dispute

BYJU’S, the Indian edtech giant, has issued a legal notice to the founders of Aakash Educational Services, alleging that they are refusing to complete a share swap that was agreed as part of the sale of Aakash to BYJU’S in 2021.

Fidelity Investments Marks Down Gupshup’s Valuation to $700 Million

Fidelity Investments, a US-based asset management company, has marked down the valuation of conversational messaging unicorn Gupshup to around $700 million. This is the third time in five months that Fidelity has marked down Gupshup’s valuation.

Vanguard Cuts Ola’s Valuation by 52% in Latest Adjustment

Vanguard, the U.S.-based investment management company, has cut the valuation of Indian ride-hailing giant Ola by more than half in its latest quarterly filing. The asset manager now values Ola at around $3.5 billion, down from $7.3 billion at the end of 2021.

Drake Trade Invests $2M in Indian Startup, The Fuel Delivery

Singapore-based investment firm Drake Trade has invested $2 million in Indian startup The Fuel Delivery (TFD), a doorstep diesel delivery company. The investment is part of TFD’s pre-Series A funding round.

StrideOne in Advanced Talks to Acquire LetsVenture

StrideOne, a non-banking financial company (NBFC) formed by the founders of venture debt firm Stride Ventures, is in advanced talks to acquire LetsVenture, an investment platform for startups.

Paytm CEO Urges Government to Include Payment Devices in PLI Scheme

Vijay Shekhar Sharma, the founder and CEO of Paytm, has urged the government to include payment devices in the Production-Linked Incentive (PLI) scheme. In a letter to the government, Sharma said that including payment devices in the PLI scheme would help to boost the growth of the digital payments ecosystem in India.

SEBI Directs Market Infrastructure Institutions to Establish Common Online Dispute Resolution Portal

The Securities and Exchange Board of India (SEBI) has directed market infrastructure institutions (MIIs) to establish a common online dispute resolution (ODR) portal for resolving disputes between investors and market intermediaries. The ODR portal will be a one-stop shop for investors to file and track their complaints.

Amber Unveils Comprehensive Report on Student Housing Market’s Growth and Challenges

Amber, a leading provider of student housing management software, has unveiled a comprehensive report on the student housing market’s growth and challenges. The report, titled “Student Housing Market 2023: Driving Revenue & Growth in the Pivotal Years,” provides insights into the current state of the student housing market, the factors driving its growth, and the challenges that operators are facing.

Prosus Sells PayU’s Global Payments Org to Rapyd, Expands Focus on Thriving Indian Market

Amsterdam, Netherlands – Prosus, a global technology investor, has announced that it has agreed to sell PayU’s global payments organization to Rapyd, a global payments infrastructure company. The deal is expected to close in the second half of 2023.

Magenta Mobility Appoints Vishal Sharma as National Head of Asset

Bengaluru, India – Magenta Mobility, an electric mobility solutions provider, has announced the appointment of Vishal Sharma as National Head of Asset. Sharma will be responsible for leading the company’s asset management team and overseeing the operations of its fleet of electric vehicles.

Zomato Allots ESOPs Worth Rs 2.52 Crore to Employees

New Delhi – Zomato, an online food delivery platform, has allotted employee stock options (ESOPs) worth Rs 2.52 crore to its employees. The ESOPs have been allotted to employees across all levels and functions.

Navi Technologies’ NLC Platform Disburses Over Rs 1,900 Crore in Personal Loans

Bengaluru, India – Navi Technologies, a leading digital lending platform, has announced that its NLC Platform has disbursed over Rs 1,900 crore in personal loans in the first quarter of 2023. The platform has disbursed loans to over 2 lakh borrowers across India.

India Unveils Draft Policy to Boost Deep Tech Startups

New Delhi, India – The Indian government has unveiled a draft policy to boost deep tech startups. The policy, which is called the National Deep Tech Startup Policy, aims to create a favorable ecosystem for the growth of deep tech startups in India.

Article By Pankaj Dara

admin

Recent Posts